Day Trading Secrets Made Simple – with Guest Trader Latoya

Day Trading Secrets Made Simple – with Guest Trader Latoya and host David Moadel hey everybody and welcome to looking at
the markets with David Modell I know that you guys love technical analysis
you love charting you love to look at those candlesticks and you want some
insight into how best to be a trader that is technically oriented we love
fundamentals too but I know you love that chart stuff and we’ve got a chart
expert here right now it is Miss Latoya and man she’s going to show you some
charts and she’s going to give you some secrets some insider secrets on how to
get the most out of your charts so miss Latoya welcome to looking at the markets
hello David how are you and thank you for having me
yeah it’s great to have you it’s been a long time in the wedding and and you’re
finally here and I see some amazing looking charting software and some cool
looking candlestick charts so first thing yes so can you just start out real
quickly telling us you know about your website and what you do
all right everyone well my name is Latoya and I am a professional day
trader and what I mean by professional I’ve been doing this for a living since
2012 but I’ve been involved in the market since 2007 and I started off as a
swing trader working my nine-to-five while holding some stocks and letting on
time goals so we can work out so that’s classified as swing trading until
basically I got enough capital I should say and enough skill to actually take
this seriously and do it for a living so since I’ve been doing this for a
living I also started an educational company teaching other people how to
trade in the most simplistic way stocks Forex futures and options those are all
the things that I trade currently so we like to teach people how to trade in the
most simplistic way as possible so what you’re looking at here is naked charting
so my platform to be exact my website where you can find me at is the profit
Wacom so that’s where you can find got it the prot the profit room calm I’m
gonna put a link in the description below this video so you’re going to want
to click on that if you’re watching this but you know don’t finish it don’t
forget to finish this whole video first because we’re going to give you some
secrets for day traders or when you’re done watching this video just go to your
browser and type in the profit room com so what are we looking at right now
alright so what I’m gonna do is based off of what I traded today so I provide
trade alerts pretty much like any other educational service but more importantly
I like to provide trade alerts and run a trading room so people can see the
materials that are being taught via our content is the same thing we apply every
day to trading these are the basic principles so what you’re looking at are
two different charts one with JP Morgan one is also with Johnson & Johnson now
JP Morgan today I have both up on a daily timeframe this was a day trade now
what you’re looking at now the way this opened it pretty much opened under the
prior days lo so just keep that in mind so one thing that I was looking at when
it came to JP Morgan wasn’t going to be a good buy the question that was the
question so the answer to that was yes but based off of a few things so the
technical buy point that I entered this trade was at 114 or 1 and I’ll show you
exactly how I came to that entry point more importantly the analysis to take it
higher and exactly where would have been a nice level of resistance so I was also
looking at the prior days candle that high so you have to think about where
was it located when it opened what was the level of support that it held and we
can visually see it within this channel now if we held onto that support
now can we break back to the top of the channel so let’s go to a one minute time
frame and then I will increase the time frames as I explained so generally
within the first minutes I’m really looking at different charts I
want to see what best fits the strategy I’m going to use in order to take a
trade long so I like JP Morgan initially this morning I’m gonna show you exactly
where I liked it right around here this nice bullish candle but something told
me like you know what you didn’t really get in as early as I would like you
might as well wait the points if you chase it so I waited and I let it kind
of do its thing and play out so the next entry point I noticed that it started to
come down but we never broke to new lows which is down here that’s the morning
low and that’s where you see on a daily if formed that lower wick so far so this
is where I saw it zoom in on our one minute here look at
this nice consolidation whenever you see something consolidated you must think
not in this area you must think okay it’s consolidating now where can we buy
it at so this is what I noticed all based on a one minute time frame and I
know a lot of people do not like one minute charts they find it too noisy
but I like it in particular for my entry point so one 14:01 was the entry point
so got filled on this candle and my stop-loss I just use shy a penny under
that hammer candle that was my risk so my reward in this I wanted a nice upward
movement first take profit was to tackle this high right here which was one 1443
my limit was 114 40 to take partial loss once it gets fill we can then move up
our stop loss to break-even so process here you move up your stop-loss
even if the remaining shares come back against you
you’re still not positive because you locked in those profits on your first
half of your first partial now the next thing now stops raids we’re no longer
watching it because we’re protected now by that entry point in terms of our stop
so next thing you know it moves up all I wanted was once your team that was it so
pretty much a dollar per share for entry I’m a position size trader and when I
sit what I mean by that is usually I add into my position to full size but in
this case I saw a classic breakout I was already full size and I just got into
trade half off half that target so it ended up being a lovely trade and when
you do like risk to reward ratio it was morning like a two or three to one trade
in terms of what I was risking in order to make what I made I like that I yeah
so you’re letting your winners run and you’re cutting those losers short I like
that a lot especially for day traders they ask really quickly you know you you
discussed about writing down or just keeping note of yesterday’s what was it
high and low alright how did you use that how much you use you use that
information for trading today so usually I trade gabbard’s
when I mean by Gabor’s I like stocks that either gap up or gap down meaning
way underneath or below a prior days closing price in this case JP Morgan was
not a gapper in that sense like we didn’t like this can’t know this is a
gap you see how this opened way above the actual clothes at a high wick that’s
a gap but today ended up being an inside day so with inside day candles you kind
of have to wait it out a little more patiently just to see what traits would
do eventually so it was not a clean gap per se
this is not what I look for in terms of a day trading setup just to let you know
it just happened today there wasn’t much in terms of like earnings for example
what gapped up or what gap down so I’m gonna go through two other charts that
hit my gap list but I did not trade number one is usually low volume and I’m
gonna bring you to Domino’s Pizza I generally chart it but I don’t trade it
because I know how this one trades so look at this now you’re looking at my
chart like all those colors all those colors mean something to me they’re very
important because I trade very basic I do not use any indicators at all period
support resistance candlestick analysis and we follow the price action method
look how it came back now to this level over here of Trier support that would
have been my target if I traded it but the thing with Domino’s Pizza as I
mentioned volume you also have to think about the spread usually it has a wide
spread and if we look this is a 5 minute chart it didn’t necessarily break down
right away so I already moved on it finally JP Morgan as well as Johnson &
Johnson so this did not hit in terms of what I wanted it to do in the morning it
went the opposite way of my thought process and whenever that happens that
open I walk away and find something that coincides with my analysis in the
morning so I prepared a market analysis from 8:30 up until probably 9:20 and I
have levels where i’ma buy this if it hits this level of support to take it up
or I’m short this if it falls underneath this level to take a short very basic is
very simple so this was one another one with JB HT this was a gapper to help
with your question so this is what I look for I look for a clear gap above a
prior resistance into a space of no we’re just
could gravitate to either a nearest level of support or a nearest lower
resistance in terms of a target or a direction I was bullish on this trade
very clean analysis is just how to stay above this level this was about $98 and
it says 85 cents I’m going to show you what happened with this I saw their
opportunity but I didn’t take the trade I did not like the way it move look at
this chart looks too messy right a messy mess yeah
it dropped instantly I said oh I wasn’t expecting that
I wanted you to hold this level came down next but it did squeeze the bottom
which is awesome so this was the indication right here nice ping off my
support to take it long but I didn’t take that’s right it also provided
opportunity to short it was just a messy chart not really a picture clean
direction in terms of something that continued to trend like JP Morgan
example I like charts that trend not something that I got a ok I could buy
here so here short here I don’t practice scalping I used to scalp in the past
when I was a trade penny stocks but training mid to large cap stocks I like
to go in with some size and I like to hold it for a dominant trend at least
$1.00 this year $1.00 per share works wonders in the
world of day trading you have to understand as 200 bucks – the shares you
get the point so I look for trends where I can just
sit back hold and you know let it do a stay we’re gonna come over to this chart
Johnson & Johnson this played out quickly very quickly all I wanted to do
was take it to my purple line here which it happens to be a prior level of
support you can see where it held here you can see where it kind of channeled
hair and this is today’s candle this is a daily chart you can see we’re exactly
touched it here so this is another example of something that again
so this gap down generally I trade in a direction of the gaps I don’t trade
opposite gaps unless something hits the resistance and
was a clear fade or if it’s over Seoul and you’re buying that over sonís for
example like BBB ride the other day it was clearly oversold it made it all time
low instead it faded upwards so you have to really know what levels or what new
highs or new lows that a stock is making or in this case of Johnson & Johnson
where that again what could be the next support for your potential target and
Johnson & Johnson played out so quickly this morning and I basically just short
it based off one minute you could call me that one minute Raider that’s how I
take my entry points my entry point was 130 to 80 so really right here you see
pre market lows I just wanted to clear this last little wick of 130 to 82 so it
cleared that was my short got filled on that candle and straight down to the
support that was it so we took its wife first time that’s right and then you can
notice here it found resistance from this morning and took it in another time
where it’s held support that was started to hold right around here so this was
another trade and those were my three trades for the day and I I called it a
day after that that’s great so it sounds like on a lot of days you’re able to
trade just the first few hours of the day and then go take care of the rest of
your life would that be pretty accurate of your day that’s that’s correct so
real story true story prior to the actual trading rooms I only used to take
one or two trades once I made my money I will log off but so we made it a point
to close the rooms buying 12:00 to 12:30 because it makes no sense to sit here
and over trade the purpose and my mind is different for everyone else I want to
make what I can make and go enjoy the rest of my day I want my time to do
whatever not my time to sit here work so I gave up my night effect so we’re
able to capitalize off of time by a trade in the stock market that’s that
sounds like a lifestyle sounds like a great way to go the profits room dot-com
people need to check that out links in the description below the video just
want to ask real quick about gap and go you know there are other people who feel
that it’s gap and fill like they’ll they’ll go the opposite direction of the
gap do you ever do that it depends one really the I can’t stress
that that chart it depends on what the daily looks like in order to gap in
basically gap this fill or gap oh so I have it it all depends on the percentage
of the gaps so here’s a little secret for everyone in case you don’t know
anything that gets more than like 4% and above you’re not gapping and filling
you’re gonna gap and go you’re gonna take it wherever that gap is if it gaps
down stick it in the directions the gap if it gaps up taken in the direction up
but anything under 4% 3% 2% 1% that’s a gap and fill you can trade that and
basically fill it the next day candle so that’s the difference between the
different types of gaps the gap is Phil I don’t trade those cuz assumption JP
Morgan I enter training that well this would’ve been a gap in Phil basically an
open hair is fill the gap we lose higher right this one if you look at it it
required a little bit more work and waiting and patience than I would like
what gap and goals I can expect that that thing’s gonna gap go before the
first hour even completes in a market so that’s the difference
gotcha well we just got a little secret there so I’m gonna write that down 4
percent or more for the gap just bet that it’s probably going to keep going
in that same direction but if it’s not a sizable gap let’s say 3% 2% 1% half a
percent right it’s probably gonna fill back to you know it’s probably going to
retrace gotcha ok so every day occur it’s like
Apple Facebook just typical stocks that always
have a small gap they either of a half a cent a 1% in the morning by the time you
look around it already retested Phil and then it probably floats around and do
its thing okay yeah do you have any you talked about earnings do you have
anything specific to earnings plays I mean oftentimes I’ll just stay away from
that because it’s it’s not even really about charts it’s about fear it’s about
greed it’s about sentiment news so do you trade earnings and how would you do
that okay so the thing with gaps I’m trading
after the emotions after the reaction I do not trade earnings per se so let me
give you example if something’s getting ready to report I do not have a position
open so when they report a me they’re like I call that 50/50 that’s gambling
you don’t know if it starts going to go up you don’t know if he’s gonna get down
right so I trade after earnings we call it their reaction and that’s how gaps
are created so I trade the day that their earnings happen already news out
either gap up or down and I’m trading that reaction hopefully that answers
your question that’s a great answer I pretty much have the same policy a lot
of people make bets before earnings because they think they know which way
it’s going to go up or down well I’ve got news for everybody you don’t know
okay unless you’re an insider at the company in which case in which case you
might be doing something illegal I don’t want you to go to jail like Martha
Stewart okay so very much some occasion where people you know they they bat they
make that great call and they keep doing it and so one time they just get burnt
just like yes 50/50 is like oh well they beat the top and bottom one number but
they guide lower so you know you can’t really project that if a company is
gonna guy low or anything like you said unless you have that in trade inside
information right which most people don’t have access to the profit room
calm is the name of the website this is this has been so cool I’ve learned a
bunch of secrets already is there anything else you wanted to share with
us um well just let me know is it’s totally up to you another thing that I
always like to remind people when it comes to
just technical analysis and reading charts you can apply it to any market so
today crude oil I trade the future as well I love crude
and specifically in terms of for the futures because it reminds me of penny
stocks as I mentioned I used to trade penny stocks in first five years prior
to going pro so I used to trade penny stocks in it was always a thousand two
thousand you gotta have large size to make twenty thirty cents you know so
when you think of something like crude oil crude oil is the equivalent of
having a thousand barrel so it’s like the equivalent of having a thousand
shares each tick in this case is what they call it or penny movement is ten
dollars so this thing moves a dollar that’s a thousand dollars one contract
yeah and not only not only to also mention that you do not need to have the
capital required in order to be a pad a day trader so pattern day trader rule
you need twenty five thousand dollars in your account
but however trading the futures market you absolutely do not and you can make
the same money or even more alright although I do want to caution people
with that kind of leverage you got to be careful so small so so here’s here’s the
thing so let’s just drop to the drop-down and go to this is thinkorswim
they require you to have almost six thousand dollars in your account right
but with any markets regardless of the leverage because we know forex is
leveraged as well so regardless of the market always remember that you need a
stop in place you need your your risk management you need to know exactly what
you’re willing to lose before you even take the trade so that’s one way to come
back that it’s not really about the leverage is about what are you willing
to risk before you take the trade so have that trading plan know your entry
point know your stop point and also know you’re a potential take profit and just
repeat the process now I know when a lot of people start because I was guilty of
this once when I first started trading I had
idea by wrist wrist what who heard of wrist I just want to see how much money
I can make to get the risk you know you don’t even think about it and tell you
like oh crap I didn’t know that could go down let’s say you bought something and
just started falling on you you didn’t know that is gonna go down that’s when
you start hoping praying wishing so when you incorporate risk management you’re
gonna realize okay you don’t have to hope and pray no more because you have a
set stop you’re wrong you’re wrong and that’s where our technicals that’s why
they’re so beautiful in my eyes like there’s a technical stop there’s a
technical entry and you hit those technicals accurately you’re good to go
you’re you’re really good to go so I just want to make a quick thing I’m just
gonna throw crude I was just going on a one-hour chart just to give you an
insight of support/resistance it doesn’t matter what time frame I can’t stress
that enough any timeframe but just recognize what time frame you’re trading
off of now crude very technically rope this last swing low as we can see here
this was the last level of support because it went up going that high prior
high or resistance that’s a prior resistance level or was a prior support
becomes new resistance price broke through this support and I believe there
was some news because generally crude it doesn’t really trend like this today was
just crazy you can see this drop for two hours straight so it had to have some
news behind it but this right here this this was not this is about two dollars
and fifty cents one contract that’s $2,500 but besides the money is just
like the technical entry in terms of support resist there no one to short no
one to buy etc Wow I’ve learned so much from this and you
just have a way about you that is is very easy to listen to and and you
really get the point across really well you explain things
unlike a lot yeah you know there are a lot of youtubers out there who might be
good traders but you know I don’t even know what they said after I watched the
whole video so but it’s just like anything like there are people that are
great traders like we have great traders within our community but they cannot
teach yeah some people oh why do you even bother teaching if you make so much
money because if other traders can’t eat then how you expect to learn right so I
break it down as simple as I can and I realized one of my gifts is to explain
this stuff because I can see it in the most simplest way and I can translate
that to to the viewer to whoever the person I’m teaching during the time is
gotcha and you’re doing a great job of it this has been David Modell with mis
LaToya exclusive interview but if you want more you got to go to the profit
room commlink is a link is in the description below this video check it
click it get there and see what miss latoya can teach you today alright
thanks a lot you got to come back to my program soon thanks a lot

15 Replies to “Day Trading Secrets Made Simple – with Guest Trader Latoya”

  1. Latoya is awesome as a teacher, I have taken two classes with her and she has the patience of Job. She is Always ready to help you and answer questions,

  2. Mr. Moadel

    Great video with awesome information. I just found your channel yesterday and after I watched the video I subbed.
    What platform is she using curious to know? Please keep up the good work looking forward to more great content.👍

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