This page provides transcripts and keywords from some of our videos. The preferred way to see the videos is to go directly to our YouTube page. And see additional videos on our StockTwits page. These transcriptions and keywords are primarily aimed at helping you find a video using Google and other automated search tools.
Howard welcomes Dan as an expert and his friend. Howard: "Tell me why you trade small caps?" Dan Mirkin begins talking about his first days trading in 1995 and his experiences trading the four horsemen then discusses current trading philosophy. Dan: "I see a lot of people just trading to trade but you need to let the momentum take you and not get out of it to make money. With our software, I set up a system to look at where the stocks decline over the past two years but has started to base, and out of that basing pattern I see a big pop on volume. I'm not in that one, but I'm when it comes back, that's when I get in." SHOWS HIS SCREEN Using TDA: "What you see is variety. I don't pigeon hole myself into saying I'm a small cap trader, I try to just trade the set up that I see. I post my P&L and show my positions on Twitter and I keep everybody in full disclosure." SHOWS HIS SCREEN: & LNET ICGN Howard: "What's the size of that account?" Dan: "When I started Tesla it was around 60, now it's around 211." "Everything in the market is completely subjective. A company can report great earnings, and then we find out that the market is discounted and then it sells off. Or a company can report bad earnings but it's turning around and then gaps up 20%. Because it's so much randomness, I feel the only pure way is the quantitative way which is what I do. It's not perfect, and there are risks. SHARES SCREEN Howard to Dan: You like Indian small caps? Looking at REDF and SIFY... They were down for a couple years, they were basing, they had a pop a month or so ago, pulled back, and you got in. What was the signal? Dan: "The signal was, they went up on my screen, they went up unusual high 10% in one day, and I'm looking at a big wave... like a surfer, I go check out the waves. It's similar to China and I think there is going to be a need for more internet." Howard: "How do you sell?" Dan: "I am a big P&L watcher." SHOWS SCREEN with TDA with Robot with cummulative open P&L that I have on these stocks. So I am open b/w 75 and 77 in profit. So, I can mentally say I don't care how I get there but if it goes from 77 to 71 in a quick amount of time then I know that I need to start scaling out and taking some profits. Instead of trading pure stocks, I trade profits. Support and Resistance are fictional lines in your imagination and on charts, but your P&L is real and viseral and I trade off of that." Howard: "So it's over the whole thing but if one stock stands out, you'll just get out of it?" Dan shows screen and goes over buttons in Trade Ideas and also provided in robot (flatten, 1/2, 2x) Howard: "Why don't you automate your strategy's?
