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Chat With Traders

267: Dan McDermitt - An Edge with Correlations Across Time Frames

Chat With Traders

Tessa Dao

Education, Business, Investing

4.92.3K Ratings

🗓️ 21 September 2023

⏱️ 73 minutes

🧾️ Download transcript

Summary

Stinging losses with mutual funds in 2008 drove Dan to become an active manager of his portfolio. Enticed by the legalization prospects of marijuana, he dived into learning the fundamentals and technicals of the sector. Learning how these stocks traded relative to each other, he cultivated an awareness of the correlations between these companies. These interrelationships would later be applied to large cap stocks, Commodities and Crypto across different time frames to give insights on when to participate in Bull and Bear runs, and when to back away. Feeling the pain of big early profits evaporating over months, Dan was forced to cultivate a mental flexibility in trading by considering both Bull and Bear signs in every stock he follows. Combined with correlations over multiple time frames with other stocks in the same sector, influences from Commodities, the dollar and various sectors, he flushes out nuances with scalpel-like precision and is ready to flip bullish or bearish without attachment. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Chat with Traders is sponsored by Trade the Pool.

0:03.7

Our concerns about limited buying power, insufficient capital,

0:07.3

or fear of losing your own money,

0:09.5

preventing you from advancing your trading capabilities.

0:12.4

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0:15.8

that offers funding for stock traders.

0:18.1

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0:21.0

and keep your profits.

0:22.6

You can engage in intraday trading

0:24.9

and now swing trading on Trade the Pool.

0:27.8

With any U.S. stock or ETF,

0:30.4

the procedure is straightforward.

0:31.9

Pay in evaluation fee, successfully complete the evaluation

0:35.9

and get funded.

0:36.9

Visit tradethepool.com forward slash chat to learn more.

0:42.4

Chat with Trader's community now offers its own live trading

0:46.3

room with professional day traders Patrick and Steve.

0:49.7

Patrick, a former guest on episode 260,

0:52.9

now trades for a leading Swiss hedge fund.

0:55.4

He has been inspiring and guiding newer traders

0:58.0

to take their trading to the next level.

0:59.9

With over 17 years of trading experience,

...

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