@Mini_Tradez, Founder of Market Masters, Joins Benzinga In The Road To Wealth Webinar
“The Road to Wealth in 2024: A Benzinga Seminar” – an insightful event designed to guide you through the financial landscape and unveil the strategies leading to wealth creation in the coming year. Join us for an enlightening journey as we explore the latest trends, market insights, and investment strategies propelling individuals towards financial success.
Transcript
00:00 So without further ado, let's go ahead and bring on many trades the founder of market masters
00:06 Abdul how do you how you doing? You want me to call you many trades or abdul? Let me know. Um,
00:12 Many trades is fine up to whatever whatever you whatever you find. I think many trades works out good. Let's go many trades
00:17 That's how more people know you by so we'll go by that. So before we get started
00:21 Uh, why don't you just tell me a little bit about market masters?
00:25 Yeah, so market masters, uh, it's a trading team. It's a community in which we focus on education
00:30 And um, you know, really we have a thousand hours worth of education content
00:35 Uh, we live trade every single morning
00:38 Uh, and since my focus is primarily small caps, we make sure that the team gets information about the small caps
00:44 Um, so we have scanners live built in within the discord that are coded
00:48 We have a scanner list every single morning that updates almost every two minutes
00:53 Um, and yeah that we pretty much focus on, you know, helping people manage their risk rather than just gambling their money away
01:00 how can our uh, you know, tell us how our audience can use trading to increase their personal wealth, even if uh,
01:08 You know, or maybe just supplement their income even if they already have
01:11 uh a full-time job
01:14 So actually having a full-time job is probably even better
01:19 Uh for trading rather than just only relying on trading as a source of income initially when starting
01:25 Um, and the reason for that being is because when you have a job, right, you have a sustainable income
01:31 You have more financial security
01:32 So you have less emotions in trading
01:34 But when you have only trading and you're worrying about paying your bills through a trade
01:38 When I enter a trade i'm going to be wanting to you know
01:41 I have to make this much money so I can pay this bill, right?
01:45 You have too much emotions in that trade. You're not going to be trading the setup, but you're going to be trading the money
01:50 So that takes away the eyes really from the system
01:53 And really focusing on uh, you know following your plan in the trade and you know
01:58 You're just going to be trying to get pennies out of the market rather than actually following your plan
02:02 So, um, you can be swing trading you can be day trading. Um, and actually day trading, uh for people on
02:09 Pst
02:11 The market opens at 6 30, I believe so you have about two to three hours to even trade before before, you know
02:17 Actually nine to five start so you have that time
02:21 And for where I live where central time pre-market trading has so much potential for small caps, right large caps
02:27 Not many not much going on. Uh, but for small caps like today, we had a 300 percent runner
02:32 Um yesterday 300 percent runners, so it's a great opportunity for some of our newer traders in our audience potentially
02:39 I mean, what what are some basic strategies and concepts that are important to learn on day one? Uh, how did you start?
02:46 Uh, so I started with basic support and resistance, right?
02:50 So support and resistance obviously almost every trader knows what that is
02:54 And if you don't then you know, that's that's the basic that you need to know
02:58 um support and resistance, right so when I started diving in
03:01 I made sure that I was watching youtube videos and kind of getting a gist and when I started with support and resistance
03:07 It worked out well, but the issue with that was I was getting stopped out a little bit too much actually a lot
03:13 I was getting stopped out because I was only dependent on one support line and one resistance line
03:18 And although you know, we know that trading is not that black and white. There's a lot of gray in the middle
03:23 and it's a beauty behind it, right so
03:25 Actually trading with supply and demand is what has helped me and what I believe is
03:30 The holy grail to trading at least for myself
03:34 And so for supply and demand it helps me define a risk and it's not just one line
03:38 But it's an area or a zone that i'm watching
03:41 Along with volume to make sure that the trade is setting up rather than just you know
03:46 one line because if you have one line then
03:48 The risk is just okay as soon as it goes behind this line i'm gonna stop out
03:52 It's gonna hit your stop loss. They're gonna hit your stop loss grab your liquidity
03:56 And and trade is gonna go without you and then you're gonna end up chasing it and it's just that just that loophole
04:01 So supply and demand has helped me with that avoiding that. Yeah, that's that's really good information there
04:07 And definitely something that newer traders can uh take away. So for a lot of our audience, uh,
04:12 They have maybe different portfolios for their trading portfolio and then their long-term holdings
04:17 Uh, what are the some of the strategies you like for like long-term wealth building in a more long, uh, long-term portfolio?
04:24 So for long term, uh, I like waiting for market crashes, right?
04:28 Like who doesn't but the issue is that when actually the market crashes everyone wants to buy the dip until it's time to buy the dip
04:35 Right, even even with day trading. It's the same thing where the best trade that you have
04:39 Is the toughest trade and not only mentally but like emotionally it's the toughest trade
04:45 It's going to be the trade that hits all the stop losses
04:47 It's going to be the trade that might even look the worst, but it's going to be the best
04:52 So waiting for market crashes is the ideal potential
04:55 But if not, then, you know, ema trends are really big for me
04:59 Uh 200 ema is a great great indicator that I use on the daily and on the weekly chart
05:04 That helps me, uh invest in long term, right?
05:08 So not only for trading but uh, you know investing in real estate for long term as well, but for talking about stocks
05:13 Uh, the 200 ema is a great indicator to use on the daily and the weekly for long-term dip ads
05:19 And obviously waiting for market crashes to get those opportunities
05:22 Um and having your levels set before the market crashes too, right? You don't only want to uh
05:28 Have levels when the market crashes because then you're not going to have much conviction
05:32 But if you have levels set from before that hey when you have a long-term mindset that when the market crashes
05:37 I'm gonna i'm gonna be loading this zone
05:40 I'm going to be loading this zone and i'm going to be loading this zone, right?
05:42 I'm going to have my stop loss as well. So you actually give yourself a lot of room to add because as a day trader
05:49 We don't have that we have that mindset that okay. I I need to get out like instantly if you know, it goes against me
05:54 For for investing it's the complete opposite, right? You want to buy every single dip. So it's it's a little mind game, but yeah
06:01 Um, so right now, I mean we we ended the year in 2023
06:06 The market was so hot basically everything was trading higher tech was rallying
06:10 Uh been a little bit of a rockier start to 2024
06:13 What sectors are you watching right now abdul?
06:16 Um, so no main sectors for me right now because I do trade penny stocks, right or you know small cap stocks with low floats
06:24 So i'm focusing on right now pennies like actual the the theme is actually penny stocks under one dollar for the past
06:30 About a week. I would say we have uh runners for going 300 400 percent in which you know
06:37 We're having massive moves. We're having pre-market runners with 400
06:41 Intra day 200 moves. So my focus right now is actual penny stocks under a dollar and that's the theme right now
06:48 Uh today was a little bit different. We don't have that theme today
06:52 Uh, but for the past few days, we've been having insane, uh pre-market runners in which you know penny stocks have been the leading, uh stocks
07:00 So that was the focus in pre-market
07:02 And once the the when once everyone knows the theme that's where all the volume goes, right?
07:07 Once they see one penny stock having all the volume
07:10 Uh, then the then the next penny stock pump comes and you know, uh, everyone chases that so just you know
07:16 Following the sector not necessarily the sectors, but the theme of the market
07:20 So you mentioned for long term that you like the 200 day moving average. Uh, what about for like short term?
07:26 What indicators are you using are using screeners in the morning to find these movers?
07:31 Uh, what are you really using to find these trade opportunities?
07:34 So like I said in market masters within our discord, we have a built-in screener
07:39 And so every time there's a news on a stock that's you know, we have configurations for it
07:43 So anytime there's news on a stock and it's a low float and it's running
07:48 Uh, it'll come in the chat, right? So we have that area in chat where it's just flooded with uh, you know
07:53 Um new stocks and stuff like that
07:56 And then we also have another channel in which is it's called daily gainers and on there
08:01 It tells you every single stock that's low float has volume how much volume it has and uh, you know
08:08 How much it's gapped up so you can you can use that scanner to pull it up on the chart?
08:12 And then you'll see and then you can start analyzing from there, right? So that's what I personally use as well
08:16 It'll tell you which stocks have the news. It'll tell you which stocks have sec filings
08:21 Analysts upgrades or anything like that. Uh, and then that's what I use for my scanner and then I go and um,
08:26 You know analyze those stocks and then for my indicators for short term
08:31 I like so I used to use, you know, 10 different indicators. Um, and I used to rely on indicators a lot but
08:38 Uh, you know shortly I found out that that's not the way for me
08:41 um, so right now I do use the 10 ema and
08:44 Wap and sometimes the 200 ema on a day-to-day basis as well
08:48 I like the 10 ema for riding trends. Um, and then I like the 200 ema for major dip buys, right? So
08:54 Um the the cleaner your chart is on a day trading perspective, you know focusing on volume and price action
09:00 the further you are going to get so
09:03 um, that's uh 10 ema vwap, um and 200 ema
09:08 How quickly do you know in the morning when you're watching some of these pre-market movers?
09:12 How how quickly can you tell like oh this thing's you know up 30 percent. It's running
09:17 It's going to go up to 80. I mean you see these pre-market crazy movers with the small caps all the time
09:21 Um, do you like how can you tell if it's going to keep running or not?
09:25 Um, so obviously we can never tell what's going to happen
09:29 But the biggest thing that I like to do is volume and price analysis, right?
09:33 So if we see a big move with big volume on a stock and then we see a low volume pullback
09:38 That's my indication. That's my bread and butter
09:40 I like to see a big move on big volume and then I like to see a pullback on low selling pressure
09:45 Once you see that that means, you know
09:47 Because the the move sustained and there's not many sellers up there
09:51 Now we have room for buyers to actually step in and take it to the next leg and then i'll go to the daily chart
09:56 Mark out my next resistance point and then ride it from the first level that I took the entry all the way to the next
10:01 Level with scaling out on the way up
10:03 What about any individual names or stocks that you're in right now?
10:07 Uh for investing I am in tesla. I am in microsoft. I'm an amd those are the three stocks that I do have
10:15 Um, and you know, I because right now i'm a day trader, right? So i'm not
10:20 Um, we're on this podcast. So i'm not trading anything right now
10:23 But as soon as this ends, you know back to trading and uh right now we do have a few stocks that are uh on our eyes
10:31 All right. Well, yeah
10:31 I mean what the I might have to hop in that discord and find some of these pre-market movers with you because those are
10:36 It's always exhilarating when you hop in on one of those the next thing, you know, you're watching and it's up another 30 50
10:41 So, all right guys, we get some blood boiling. Oh, yeah. All right. Well mini trades abdul
10:47 Thank you for hopping on our road to wealth webinar with us today again
10:51 We shared that link to the discord in the chat. We'll drop it in there again
10:54 Uh, enjoy the rest of your thursday and thanks again for joining us. Thank you for having me