Money Mitch hosts Trade The Pool’s LIVE Trading Room—a YouTube show running Monday to Thursday, 8:30 AM to 11 AM ET—where he and Michael Nauss provide real-time insights and live trading analysis.
He began trading in 2017-2018. Mitch looked into options trading, but found the huge initial capital to be demanding, together with a steep learning curve and a tough competition with market makers.
Mitch targets small caps and penny stocks, scanning the pre-market for 15-20% movers with fading momentum, aiming for a 3:1 to 4:1 risk-reward ratio. Benzinga Pro is his go-to scanner to spot volume spikes and psychological washouts. He enters with small sizes during pre-market and scale up during regular trading hours.
Tip 1
Probabilities and Planning
The number one thing with those traders in that losing stage is that they're not focusing on probabilities. This is where I think I adjusted. Start looking into your plan and the results. This is what every trader needs to look at to see if they're doing things the right way or the wrong way, because you can have the right plan and not execute the right trades.
Tip 2
Pre-market Movers
The important part is taking smaller trades in pre-market. A lot of traders want to take a bigger swing because of the bigger moves in pre-market. But I’m trying to use that bigger move to give myself risk to return. That for that 4 to 1 outlook. The smaller size, that’s what’s going to help me.
