Summary:
Summary:
Another chapter that I picked a lot up on. I’ll admit being so short biased through the years, the first time I watched this a year or so ago, I just kind of glazed over the “buy setup” chapters. Because of that I’ve been annoyed while reading IU scans or seeing in chat about how to buy into long setups and not understanding the terminology. Of course that annoyance was self induced for sure.
The most common IU long setups which have not been already covered (ABCD) are:
- Anticipating Red to Green
- Week Open/Stabilize and Perk
- Morning Washout on Bullish Chart
- Morning Washout on Bearish Close
Nate does a solid job of explaining these, and I finally “GOT” a lot of them. Not saying I’ll trade them well, but after this chapter I feel much better about my ability to recognize them as well as scan for them.
The last chapter covers a setup I may never trade, but I know lots of guys love these setups and always want to trade them. Thats “the chase” I know its possible to make money chasing MOMO stocks, but fuck, I’ve never been able to. The best part about this section though is Nate goes over a structured way to chase. And gives solid tips on how to formulate a chase plan. ESPECIALLY focusing on using chase size for entry and only adding to winners. Probably the biggest reason chasing never works for me is a size issue. I get shook out and ultimately the trade works.
This was a solid chapter and I feel I got great value out of it. Its borderline embarrassing that I have been an IU member for 7+ years and probably read damn near every nightly scan but I still did not understand a lot of these long based setups. We’ll see if it pans out, but I feel like I am a better/more versatile trader after viewing this chapter.
Notes:
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