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However, as a general rule of thumb, he teaches his students to wait for at least the first 2-minute bar to form. Occasionally, Oliver Velez trades before the first 2 minutes.
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Waiting a Full Two Minutes Before Committing Having a small universe of stocks is also ideal to help develop this 6th sense. It takes years of experience like Velez has to acquire this feel for the price action. This isn’t an exact science like the gap, or the moving averages, however. To that end, he might ignore taking a position if the sentiment isn’t there. Is the stock showing strong support on a gap down? Is a stock weak after gapping up? A lot of this is determined by the feel he has for the volume and price action. This is the fifth criteria that often comes into play as Velez puts on his “feeler” trades before he sizes in. Shorting into overhead price congestion 5. Here is a recent example of what a gap down looks like in AAPL: In other words, is there weakness or strength in his stocks? This gives him the first bit of sentiment that he needs on the day. Without using premarket data, Velez has his charts setup to flip through his universe of stocks to see which are gapping up or down. This is the first of the criteria he looks for. To that end, Velez typically uses four criteria, and occasionally a fifth, to determine what the path of least resistance is while trading the open. He isn’t afraid to go long or short, he just wants to be on the right side of the trade. This will determine the direction of the position he takes. “Who has the the ball, the bulls or the bears?” This is the question Velez seeks to answer within a few minutes of the open. Determining the Path of Least Resistance After the Open Generally speaking, he takes a position of 1000-10,000 shares of stocks like AAPL, depending on how well he can scale in. In the videos for his series, you can see his buying power is in the millions. When Oliver Velez trades, he trades with size. In order to do this, you need to trade the same stocks day in and day out, or at least keep them on watch. The more familiar you are with a stock’s personality, the better prepared you are to expect certain reactions in price movement. Most stocks display a personality in their volume and price movements.
#House of velez part 2 no commentary professional#
While this might work for some, depending on the strategy, many professional traders prefer to narrow their focus. Too often, beginning traders will wake up and trade whatever shows up on their scanners. Generally speaking, these are all large cap stocks like Facebook, Apple, Starbucks, Home Depot, etc. When trading the open, Velez likes to keep a core group of stocks on watch. Having a Core Universe of Stocks on Watch Having viewed the series, we’ve broken the strategy down to 4 foundational tenets. In it, viewers get a chance to watch OV placing real trades and hear his commentary as he trades. He calls this series, Trade the Open Like a Boss. One of Oliver’s more popular strategies deals with how he trades the open. The 4 Key Takeaways of How Oliver Velez Trades the Open You can find them on his YouTube channel or as part of his proprietary trading firm,. This method has influenced many traders and educators through the years who are still teaching from its concepts today.įast forward, Velez’s courses and teachings continue to evolve. Realizing this void, he helped develop the Pristine Method of Trading from back in the 90s. Aside from reading books and getting a job on Wall Street, the options were slim for learning.
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When he got started in the 80s and 90s, there weren’t any formal options for education. So is his style.Īs a prolific author and educator, Oliver is credited with a lot of the early work of trading education. His signature shades and OG appeal is unmistakable. Oliver Velez, or OV as he is often referred to, is one of the most recognizable faces in all of trading education.
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