Dip Buying
May 29, 2019
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5:48Now PlayingDip Buying
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as posted by the channelDip buying is one of my FAVORITE strategies! This strategy can be super risky — especially for new traders — because it takes a TON of discipline. Watch the video to learn why Bohen’s not a fan and if this niche can work for you!
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FULL DESCRIPTION
Tim and Tim here, talking about one of my favorite patterns to trade: dip buys.
Bohen agrees it’s a valid strategy ... but he’s not a big fan of dip buying. It can be very risky — especially for new traders.
This is not an easy strategy! It takes discipline.
I like to buy morning dips when there's no negative news. If the stock drops with no news, use your stock scanner’s news feed, then decide if you still want to dip buy.
The classic dip buy stock has been trending for days, weeks, maybe even months ... and then it drops — BIG. That’s when most buyers jump in. These traders tend to miss out on the run up, so they wait to capitalize on the crash.
So, when should you dip buy? With these low-priced stocks, you can buy into the morning panic that's created by stop losses.
There are specific areas where traders love to put stops. You don't know exactly where the stops are, but with education, discipline, and time, you can learn to recognize where they might be.
It's not just about past support or past resistance. You also need to consider the Level 2 turns. Look at those key levels and determine if the stop losses have been taken out. When it stops substantially dipping, that's a good sign of a possible turn due to those stop losses.
So ask yourself: Where are the stop losses? Where are the potential bottoms? Focus on learning to recognize these areas.
It’s important to remember any bounce can fail … especially these sketchy pumps. Trade smart and small. Always cut losses quickly!
How do you feel about dip buying as a strategy? Do you love it, or is it way too risky? What other topics should we discuss? Leave a comment below and let me know!
#TimothySykes #Pennystocks #Investing
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Hey, it’s Tim Sykes, millionaire mentor and trader. Thank you for watching my videos. I hope that they help you. I want to share everything that I've learned over the years. You can check out more videos right over there, and also click ‘subscribe’ so that you can watch all of these videos, get that knowledge and become my next millionaire student.*
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