Essential Trading Tools & Terms

This module is strictly for beginners. I go over the basic terms and common tools for traders.

 

Feel free to post all questions on the discussion board.

Recap

Level 2 and the Time & Sales additional tools to help you identify potential reversals, tops, or bottoms. They are not, much like any other tool I cover in this course, there to replace your brain. Trying to catch a falling knife or betting on a top can get very painful very quickly.

Shorts want the stock to go down. An infinite downside (loss), limited upside (profit). Riskier than standard trading! (Potential)

Longs want the stock to go up. Infinite upside (profit), the Limited downside (loss). (Potential)

Share Float influences volatility of the asset. You need to know what it is before you get into a trade!

Fundamentals off the chart.

Technicals on the chart.

Open

High

Low

Close

Volume there is no edge with volume in large-cap stocks or where ALGO traders are the prevalent force. You can’t see all the information because of dark pools

Level 2 Can be manipulated. Don’t trust everything you see.

Additional Comments

Types of accounts

Cash (All your money, trades must settle before able to reinvest)

Margin (Required for shorting, limited to 3-day trades if accounts below $25k, leveraged)

IMPORTANT RISK DISCLAIMER

The coaching material, courses and trading tools offered by Black Market Crypto or its affiliates are intended for educational purpose only. This information neither is nor should be construed, as an offer or a solicitation of an offer to buy or sell securities or other financial instruments. You shall be fully responsible for any investment or trading decision you make, and such decisions will be based solely on your evaluation of your financial circumstances, trading objectives, risk tolerance and risk capital. Trading involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment.

Free Download

  • Trading Journal & Tutorial
    • This is a couple of hundred thousand formula spreadsheet I created for trading a couple years ago. It was instrumental in my success. Enjoy! (Long Short Graphs and statistical information calculators.)

Recommended Brokers

  • Robinhood
    • Robinhood is a great swing trading broker! Free commission & for a limited time new signups get a free stock as well! Some ranging in the $100s per share!
  • TD Ameritrade
    • I live TD for their tools (ThinkOrSwim) and customer service. I’m not an affiliate for them, but I’ve gotten free data off them for years so why not. lol, Great Tools, Decent Commissions, no monthly fees!
  • Coinbase
    • Coinbase is my preferred crypto broker. Mainly because I found out how to get commission-free trades! Check out this article to find out how! Click Here!

Recommended Scanners

  • Tradingview
    • Tradingview is almost strictly what I use for my scanners since I mostly trade crypto now. The tools are little nicer than TOS and the scanners have more information and are more customizable. Real-Time News Feeds. Free if you don’t need real-time data and cheap if you do.
  • Finviz
    • I used to use Finviz more before crypto more in-depth scans than tos and identifying the float. Still a good scanner. Free if you don’t need real-time data and cheap if you do.

Recommended Backtesting Software

  • Finviz
    • I tested what I could on Finviz and the backtest is good for testing individual indicators but not for testing robust strategies.
  • Quantshare
    • I still use Quantshare off and on and I spend literally hundreds of hours backtesting and coding with it. It’s a great program offers broker integration for automated trading and has data back like 50 years.

Recommended Mentors

  • Timothy Sykes
    • Tim was my first mentor. He really showed me trading isn’t what I thought it was. His style isn’t mirrored with mine at all now really but I still learned a great deal from him. Tim is Subjective Trader he just kinda knows what the market is going to do. No indicators.
  • Matti Owens
    • I love Matti! I use almost all of his systems still and trade similar to how he did a few years ago before he got more into ALGOs. He is a professional systems trader very structured. Lots of indicators and maths.

Recommended Courses

Day Trading

  • Pennystocking Part Deux
    • Tim goes over high probability setups he uses and explains the scams that exist in the world of penny stocks. Long and Short.
  • Pennystocking Framework
    • Tim goes over the pump and dump process in minute detail. Pump and dumps have largely moved to crypto but every once in a while there is a free trade just waiting to be taken advantage of.

Swing Trading

  • Trading Around Equilibrium
    • Matti goes over how to formulate a thesis using technical and fundamental indicators and forecast variable outcomes. A very under costed material if you asked me. I use literally everything in this DVD still today!
  • Quant Trading 101
    • Matti goes over how to use statistics in your backtesting to provide accurate workable data. He shows you how to build data spreadsheets in excel and gives you a proprietary indicator he came up with that can detect randomness in strategies.

Shorting

  • Short Stocking
    • Tim shows you how to short using support and resistance level 2 and fundamental analysis. He goes over how to build a watchlist and how the pumping process really works.
  • Trading Tickers
    • Tim Grittani is Timothy Sykes’ first millionaire student. in this DVD, he shows you how to identify the most lucrative short setups available to day traders.

Recommended Books