Rob Smith, "commander-in-chief" at TheSTRAT, kicked off day two of the Fintwit Conference hosted by Benzinga and Lupton Capital in Las Vegas.
The event brought together 40 of the biggest names in the trading community for two fun-filled days of finance, education and live-action trading.
Trading With Rob Smith: Smith, whose Twitter account is @robintheblack, brought more than 20 years of skill, mastery and passion to the table with an easy-to-digest introduction to the concept of price action and how to analyze charts at multiple time frames for indicators of either continuity or conflict based on price direction.
Rob’s storytelling inspires the audience as he details ways traders can “level up” by simply analyzing the data. He fills them in on the importance of learning various trade scenarios and discovering the patterns.
TheSTRAT Approach To Charts: Smith said he believes it’s essential to throw out technical analysis and develop a strategy to identify the commonality across all charts — what they’re doing, how they’re doing it and when it’s happening — no matter the industry and no matter the time of year.
Smith goes on to assert that strategy can be used during events-based trading and within fast markets — and that if someone becomes adept at the principles of price action and discovery, they could catch stocks before they move wildly, regardless of the market.
This is how he eliminates market noise and better determines which actions can best be executed.
During his presentation, Smith demonstrated that when things occur is what matters. He shows his audiences how to analyze daily, monthly, weekly, quarterly, annual and 60-day data, underlining that price action can determine which events matter most and who’s most often buying in.
Smith urges traders to read the charts, to look for continuity and to gauge consolidation at the beginning of a reversal. He also points out that momentum tends to trend down faster than it seems to come up. He suggests going after stocks that fall below expected price levels, developing reversal strategies and learning how to predict consolidation.
Smith's Trading Story: An industry veteran, Smith was part of The Chicago Board Options Exchange (CBOE) from the age of 15 and said he's been seeking commonality in charts ever since.
Although he began his journey early in life, Smith said it all boils down to “those who know — and those who don’t know.” So, as he continues to pass the torch to young traders entering the market, he goes on to share his wisdom with even younger generations, developing training programs that teach trade literacy to younger children of any age.
