I’m luckier than most folks.
And it has nothing to do with the millions I’ve made from trading.
You see, I had a family who supported me, and the time and discipline to become the trader I am today.
It wasn’t an easy path, and it forced me to make a lot of tough choices.
Between the training, trading, and sleep, I went from friends to mere acquaintances.
Day trading isn’t practical for folks who work a 9-5 and haul the kids to soccer practice on weekends.
That’s why I built Weekend Profits.
Not everyone can spend hours studying every week, let alone sit in front of the charts.
But most folks can take swing trades from Friday into Monday.
As I’ll demonstrate how to in a minute … All you need is a simple premise to score solid wins, just like I did with Asia Broadband Inc. (OTC: AABB).
Screen For Movers
The first place I start on Friday is our StocksToTrade screener.
My saved screener presets allow me to quickly identify the tickers that meet my criteria.
The cool part about this screener is that it runs continuously. So, when a stock starts moving during the day, I can spot it immediately.
In general, I look for stocks with the following:
- Up 10% or more
- Increased volume
- Former Supernova
- News release about an upcoming event
I want to dig into that last point a bit more.
Stocks tend to climb into important events. I’m not referring to something weeks away, but the following week.
The event should be material to the company, such as earnings, or product launches.
I get the majority of my news from our Breaking News Chat Room on the StocksToTrade platform.
Asia Broadband Inc. (OTC: AABB)
AABB announced plans to launch a crypto payment solution on September 7. The original release date was August 25.
As the date approached, another article was released September 2 on Yahoo.
This article, which you can read here, looks legit, except that it’s sponsored content.
I don’t care that promoters are hyping up the stock. In fact, that makes the trade even juicier.
However, it highlights why I don’t hold these stocks long-term.
Take a look at the daily chart below.
The initial press release pushed shares higher on decent volume.
Rather than fade, the stock held between $0.05-$0.06.
This indicates buyers holding up shares into the catalyst event.
Now, let’s dig into the price action from Friday.
I’ve drawn arrows to highlight the runs and pullbacks throughout the day.
The prior high from the 25th came in at $0.065.
The first push took the stock over that high and pulled back exactly to the penny of $0.065.
The next move made another new high with a shallower pullback,
All of these movements occurred on decent volume.
I jumped in as the stock was making its last run.
Going into a holiday weekend, stocks tend to float into the close along trend they held throughout the day.
Taking all this information into account, the trade looked for a continuation into Tuesday of the following week.
Part of why I jumped in where I did was the massive increase in volume.
You can see a stack of green candles clumped together just before shares take off.
This kind of price action is like stretching a rubber band and then letting it snap.
The buyers built the pressure that eventually released to the upside.
Weekend Words of Wisdom
The key component here is the event catalyst for the upcoming week.
However, this alone doesn’t make the trade.
I need to find other technical reasons and see confirmation in the price action.
The more reasons I have to take a trade, the more likely it is to work out.
One last point.
I want the stock to close at or near the day’s highs. The goal is to see a continuation of the move into the following week.
That’s more likely to happen when a stock finishes at the highs.
Otherwise, I may be inclined to cut the trade before the close.
And remember, this is a trade. I take ones that I expect to work out with the full knowledge they may not.
My goal isn’t to win every trade. It’s to make money over time.
As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!
Which is why I've launched my Trading Challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.
So when you get a chance make sure you check it out.
PS: Don’t forget to check out my 30 Day Bootcamp, it will teach you everything you need to know about trading.