Stock Futures Find Support After Historic Selling 3.17.20
Welcome to Smart Money Alerts for Tuesday, March 17, 2020.
The stock market continues to get pounded because of the coronavirus.
Active stock traders have plenty of opportunity but many beginners are losing money on what they believe are good entry signals.
The hidden key to profitable trading is losing less. I know that sounds obvious but nobody focuses on the topic until they are out of money.
In today's episode of Stocks for Breakfast I discuss how to find the best trades that have the highest probability to give you profits. We call this your perfect trade.
Once you know your perfect trade, it becomes 10X easier to make your stock picks because you know EXACTLY what to scan for. Anything that does not meet your criteria gets ignored.
Trading Stocks for Beginners: Stacking the Odds
I use the SPY ETF and TSLA to illustrate the steps to a perfect trade and then show you what it means to "stack the odds" for a great trade.
The trading setup I give you is simple, and easy to repeat using higher time frames such as weekly and monthly charts for swing trades.
The June contract of the ES mini futures seems to be holding support in the 2380 level. Definitely a price to monitor today. (See chart below)
Other stocks to trade include FDX, FedEx which is scheduled for earnings after the closing bell today (3.17.20)
Global leaders seem to be getting their act together the last 24 hours. For today's trading I'm looking for well-bid candlestick chart to tell me we have short-term bullish order flow.
If you have any questions feel free to leave a comment below the video!
Or send me an email: Pete Renzulli: email@example.com
Have a great day.