Trading Follow Through Trades with Steve Spencer
 

Trading Follow Through Trades with Steve Spencer

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Steve Spencer discusses how to enter follow through trades in the days following a powerful earnings move.

Steve Spencer discusses how to enter follow through trades in the days following a powerful earnings move.

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Trading Follow Through Trades with Steve Spencer Trading Follow Through Trades with Steve Spencer Presentation Transcript

  • Steve Spencer SMB CapitalAugust 16th 2012
  • 1. SMB TRAINING is NOT a Broker Dealer. SMB Training engages in trader education and training. SMB TRAINING offers a number of products and services, both electronical (over the internet through smbtraining.com) and in person. Through smbtraining.com, SMB TRAINING offers the “Virtual Trading Floor”, a community through which independent traders (subscribers), as well as T3 Trading Group, LLC traders, observe a virtual trading floor environment (as described below) for educational purposes. SMB TRAINING also offers web-based, interactive training courses on demand.2. T3 Trading Group, LLC is a Registered SEC Broker-Dealer and Member of the CBOE Stock Exchange (CBSX www.CBOE.com). All Trading conducted by SMB Training is done through T3 Trading Group, LLC.3. The seminars given by SMB TRAINING are for educational purposes only. This information neither is, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities. You shall be fully responsible for any investment decision you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.4. This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by SMB TRAINING or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs.5. SMB Training and SMB Capital Management, LLC are separate but affiliated companies.6. No relevant positions
  •  Well rounded traders will have various categories of trades by which they make money. This is a bit different than a trading “setup” per se. It is more broad. Many trading setups can fit inside of a category. The reason we group trades into categories as traders is to make sure that we have a constant stream of good trading ideas
  •  Here are some examples of categories: ◦ Earnings follow up trades – trades we look to make based on price action we observed after a stock reported earnings. ◦ Market breakout trades – trades we look to make if the market breaks out of a range. ◦ Market open trades - trades we look for during the first 30 minutes of trading ◦ Options expiration trades - trades we look for when options are set to expire
  •  Within each category you will have specific setups you look to trade ◦ i.e. One of my favorite earnings follow up trades are stocks that have held large gaps the first trading day after reporting. These are great candidates for follow through trades.
  •  Earnings follow up trades ◦ Stocks that gapped higher on very heavy volume ◦ Good long candidates in the week following the earnings move ◦ What price action do we look for to enter on the long side? ◦ How much risk should we take? ◦ When should we increase risk? ◦ When should we exit the trade if not working? ◦ How do we determine profit targets?