Matt here.
Happy Sunday. Hope your weekend’s going well.
I’m gonna do something a little different with today’s watchlist. The truth is it takes a lot for me to place a bid on a trade. I want the odds to be in my favor before I jump in.
Right now, I don’t see the kinds of opportunities I usually look for out there, but that doesn’t mean they can’t pop up intraday.
So instead of blasting a few tickers that could go any which way, I’m gonna peel back the curtain on my process a little bit.
Let’s take a closer look at the ABCs of a great set-up…
Trading Like Matt Monaco
So what’s a day in the life of a millionaire trader look like?
For starters, I open up my favorite platform for scanning, screening, and breaking news alerts.
It can be gratifying to see a hot opportunity pop up because of a breaking news catalyst that traders can’t resist.
Check Out This Recent Alert From the “Small Cap Rockets” Trade Room...
✅ Entry & exit points on low-priced stocks….
✅ Up-to-date market insights…
✅ Commentary on specific trades…
There were certainly a ton of those on my trading journey. My mentor Tim Sykes discussed my journey in-depth in this interview…
For a more simple breakdown, here are a few things I look for when selecting a stock to trade:
- It’s up over 20% on the day
- Typically, it’s also over VWAP
- It’s trading at least $100 million in dollar volume
I also have a couple of price standards depending on where the stock trades:
- If it’s a Nasdaq-listed stock, it should be over 50 cents
- If it’s trading in OTC land, I’ll take anything over 1 cent
Like my buddy Bryce, I’ve switched over to afternoon trading in this environment. Right now, things are just too unpredictable when going long during the morning sessions. I care about my gains and want to protect them.
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StocksToTrade’s Breaking News Chat could be what’s missing in your trader toolbox…
You get two financial analysts feeding you stock news and alerts often before anywhere else while joining a community of traders like yourself.
Tim Sykes encourages his students to use Breaking News Chat every day:
I also like to see more than one stock running. It builds my confidence in the overall market sentiment. This can happen even when the benchmark indexes are red on the day.
It lets me know there are enough traders in the markets to make more than just one loner stock run. Of course, when trading any asset class, sometimes the news catalyst is just too blazin’ hot to resist.
Conclusion
As Mr. Kenny Rogers says in his song “The Gambler,” “You’ve got to know when to hold ’em,
Know when to fold ’em.”
Ain’t that right, traders?
Right now, I’m avoiding the choppiness. But that doesn’t mean I’m not paying attention. Like my buddy Bryce said yesterday, this is the best time to learn the tricks of the trade. That’s why we’re over in Small Cap Rockets teaching traders like you the best strategies for the next bull run.
For Bryce and I, it took years of dedication, many long hours of self-study, and shots in the dark to eventually find our way. Your journey can be a lot easier (and more rewarding) when you have veteran traders on your side. We look forward to supporting you in Small Cap Rockets.