Location: This meeting will be conducted on-line, via Zoom. This will be a FREE meeting although registration will be required. Registration instructions will be included in the announcement email.
Finding and Evaluating Trades for Your Watchlist
How do you find new trades? Do you find yourself chasing stocks only to have bought at the high? Do you get your tips from news, friends, Reddit, the Uber driver? How do you evaluate what to trade and when?
Warren Wong, leader of SVOG's Trader Talk for volunteers, and Dennis Wong, SVOG President, will be hosting a roundtable discussion with veteran traders on tools and techniques for identifying new trades and when to get in. Come learn some new tricks of the trade that can make you a better stock picker and how to leverage options to improve your results while reducing risks. Find out how these traders look at trading these finds. If you were here last month, you have the questions for building a good trading plan, this is where you can start to get ideas on how others have applied these tools and techniques to build their trade plans.
This session is a great place to hone your trading skills. We'll start with an overall assessment of the market and then have a roundtable discussion from the panel about some of the techniques they use to find new trades or trades their watchlist. This format leaves lots of time for your questions. While the speakers cannot provide trading advice, they can talk about how they might evaluate and trade a particular stock so bring you questions. This will surely provide a lively discussion and learning event for everyone who attends.
Warren Wong practically grew up in SVOG in his 20's and learned to trade options during college with the support of the SVOG community. Since then, Warren primarily sells vertical credit spreads and trades physical precious metals. He enjoys being a contrarian trader and relishes bearish trades in high vol environments. Professionally, Warren does marketing at an AI software firm, is a professional DJ/MC and the world's only vegetarian shotgun instructor.
During this session, Warren will go over his top-down market approach (in ThinkorSwim) starting with the key indexes to currencies/bonds and then look at the top 11 S&P sectors for sector rotation (in Stockcharts.com) followed by examining top retail tickers (in Swaggystocks.com) as well as overall sentiment from Reddit and beyond. Then we'll look at top bearish candidates and commodities on the move followed by a quick tour of all of Warren's ironically named watchlists in ThinkorSwim like "the Reverse Oregon Trail," "Landing like a Grand Piano," or "Type 2 Diabetes."
Dennis Wong is an active trader that started learning to trade options in order to generate income for when he retired. Over the next 15+ years of trading, Dennis has traded most option strategies with a preference for butterflies. As he honed his technical analysis skills (and the long bull market), he moved to more directional trading using long options and synthetics. Dennis finally retired as a Fortune 500 corporate strategist and has been trading full-time.
During this session, Dennis will talk about how to use FinViz to identify the market structure and potential trade candidates. He will then go through a process to evaluate these candidates using the ichimoku cloud. Finally, he will discuss possible strategies based on the price pattern and options table.