I was reluctant to buy the DVD because of the price tag and
really didn’t know very much about Nate.
Heard it was worth the money and when I saw it on sale with a trial for
his chat I decided to buy it.
Cheaper than a bad loss and got the opportunity to see what
inverstorsunderground is all about.
I figured I knew a decent amount about day trading by now (few months in
Tim Sykes’ chat and also Superman’s-reviews coming) but I ended up learning a
lot watching this DVD. Nate breaks
it down very simply at the beginning in case you do not have any previous
knowledge or experience trading.
The main thing that opened my eyes first time watching was
how to set risk. Before I was
choosing how much of a stock to by from its price. I would say I’ll put $2,000 into this stock, its $10/share
so I would buy 200 shares and manage the trade from there. Not knowing exactly when to get out if
it went against me. After watching
the DVD it completely changed my approach and I know how much I’m risking per
trade. I now have a good spot to
cut it off and keep my losers in control.
I know going into a trade I am risking a loss of $50 if I am wrong and
nothing more. This also helped me
realize it is ok to be wrong and to just move onto the next one because my
losing trades don’t hurt as much as before.
Nate also gave me a new pattern to be on the watch for –
ABCD setup. I had seen it played
out over and over before, but didn’t have a way to explain it or be ready to
capitalize on it. This is a great
setup with a solid risk vs reward, most importantly the set risk I lacked in my
trading previously.
Nate is good about explaining what types of trades to focus
on if you’re new. Hint – if he
says not for new traders, leave them alone until you've seen it many times. Prove to yourself you have a good understanding of his other
trade setups and can execute them consistently. Only after would I suggest trying the riskier plays like
parabolic shorts. On that note I
would wait and watch it play out multiple times in chat before using any real
money. The plays that are easiest
for new traders to catch are ABCD and late day fades.
I liked how Nate goes over his setup in the DAS
platform. He shows you exactly
what he is looking at and how to set it up on your own computer. I set mine up like his, but to track 2
tickers instead of the 3 he does.
I have a smaller screen and 3 looks too small for me. Without Nate going over this, I would
not have opened a suretrader account.
He recommends them in the chapter he goes over a few brokers, but a walk
through on how a successful trader set it up is what gave me the push to give
it a try.
Finally this DVD helped out with creating a watchlist and
plan for the next day. I struggled
to create watchlists before. I had
some help from Tim, but he looks for very specific plays. I am trying to be a full-time trader
and like to push more buttons.
Nate helped identify patterns setting up from the daily charts. I didn’t think about what the wicks really meant and looked like intraday before he spelled it out. Also what to look for in a gap play –
PDT friend because you buy at end of day and can sell at open next day and not
using a day trade. I limit my
watchlists to stocks under $15 or $20 because I have a small account and can’t
afford the bigger stocks. Now I
have something specific to watch for with every ticker on my watchlist. I tend to favor the red to green setup
because it is easy to identify and seems to give most small cap/micro cap
stocks a good pop. Also easy to
identify on the daily chart it has a history of doing this.
I love how approachable Nate is in the chat and how helpful
he is. He always answers any
questions I have and has helped guild me in trades I wasn’t sure to get out of
or not. I will create a review of
IU chat later. I will do a review
for everything I mentioned in here-hoping to get it done in the next week or two. (Superman’s chat, Tim’s chat, investors
underground chat, ect)
Here’s another link if your interested in any of the guru’s
on profitly. Happy to give you my
thoughts on any of the services! My reviews on a few services I subscribe to: Investors Underground, Super Alerts, PennyStocking Silver
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