 Hey traders, this is Tosh I go by T. Radley 90 in the MIC chat today We have a very special guest He goes by the name Harry Haas on his public Twitter and in our chat room of MIC and What's cool about this trader is he's adopted one of Bao's main techniques and strategies called the first bounce strategy as we kind of do a play on words of Bao's name and bounce and today Harry is going to get into the details of what he looks for because he has found so much success with this strategy He's our perfect testimonial for this type of play and while this is just a preview today guys If you want to watch the whole 40-minute plus video and any of our other Exclusive content then become a member at MIC. All right, let's get into it. Hi. My name is Harry Haas sniper trader 21 on Twitter and today I'm just gonna talk a little bit about the First bounce strategy I've had some success with it over the past couple months, and I thought I'd kind of pass on some of that information So for the first bounce criteria What I'm looking for is a low float higher institutional higher insider ownership and higher Higher institutional ownership. I like the stock above VWAP Usually it's the hot chick of the day usually it's the biggest percent gapper on the day and Usually it has no dilution or very minimal or the company can't dilute. I know there are other Fundamental videos. I'm just going over the first bounce. So I'm not going to get into it too much These are just some general rules of thumb that I have going into the market every day Trade like your retired trader So you don't need to trade every day like if there's no first bounces Well, I'm not going to go out and look for a first bounce if the setup just isn't there and I think a lot of people get caught up in that Little trap where they feel like they have to make money every single day there's been like two or three days where I haven't gone out and traded because the market was completely dead and There was no setups that I liked So I went out and enjoyed my day instead of just sticking to the screens looking for something that isn't going to show up in forcing trades Always trade the best setups The first bounce is an easy and extremely Easy way to to grow your account. It's an easy setup It's great to learn. I learned it from the LIC YouTube channel and I tested it I went over it. I practiced it and now I'm using it in the market right now with a live account There's also no locate fees with it. So if you're trying to grow a smaller account Sometimes those fees can really hold you down so Not having to pay those locate fees and still make money is great And another rule of thumb I have is if you're in the money and you're up like 10 20 cents a share It's always a good idea to set it to break even that way you don't turn a Winner into a loser. That's just my rule of thumb You can try it however you want So entry using first bounce pattern. So I personally like to enter on a support or resistance line I'm using a line chart plus a candle stick chart I'm making sure the tape isn't too heavy and when I mean heavy I mean, I'm making sure there's not a lot of big sellers Going into my line But if there are a lot of big sellers and my line is supporting that then maybe that makes my line a Line of interest what I'm trying to say is that I don't want the tape to go and break through my line with authority If my lines of 160, I don't want it to be trading at 1 1 53. That's just not what I like to see I don't like to see the tape Go through my go through my line at all. I like to see my line Steady and sturdy and I don't like to see it broken and we'll get into some examples of that later I like to scale into my trades, which means if I have let's say a thousand share position I might do 250 shares four times scaling down into that trade And I also like to preset my orders I do preset starters, but It's always a good idea to gauge the tape and how the way or how the stock's trading And I like to combine VWAP with some of my indicators. I really like that When you have multiple indicators that point to one line that just gives you more conviction in the trade So now we have the first bounce pattern So in this example the stock shoots way up This can be however however much you want and then it comes down and then It usually bases off a support like in this example and shoots back up so you're looking to buy into on this line and You're looking to sell Into this spike here. We see a little bit of resistance. So I'll put a line right there the stock spikes Creates this resistance comes down spikes back up and then this support is being used as resistance Here we just see another example I see these all the time of stocks having resistance breaking the resistance and coming down and using that resistance as support This is another one Where it'll just come up and you know, sometimes the stock will spike it'll fade for some of the day and Not do anything and then we'll get a late-day spike VWAP reclaim and then it'll come back down and use this support as some resistance Here's the setup actual like the actually in use So if we go back here this setup right here This is actually it So we see that in this particular scenario I did know some people who were short on this and trapped and I kind of felt bad for them But they were a lot of people were risking off of this Pre-market high. So when this stock started to kind of come up it shot up stopped out all of the shorts and then there was a little bit of a sell-off from these longs and and it came down and use this use this resistance as support and We got this little bounce here and then off it faded off But this little bounce, you know, this is 15 cents a share if you know how to spot these There's two three four these a day you can be making up to a dollar a share just on scalping these little first bounces This is an easy easy easy pattern to to use and it's profitable So here this is a little bit of a complicated Scenario about how I use the line chart Hey traders, this is Tosh I go by T Bradley 90 in the my investing club chat Just wanted to reach out and say if you have any questions about M. I see joining M. I see maybe you're a member already You have three ways to contact myself personally and through M. I see you can hit our social media You can hit me through pms in chat or you can contact us through my email at Tosh at my investing club calm That's Tosh at my investing club calm I will get back to you in a timely manner And I'm saying this because I'm here to help and I don't want anybody to be afraid to reach out and ask any question That they have we are here for you guys. All right. See you guys