The Powerplay Trading Setup | Interview with Pro Trader Mark Ritchie II

Video Description

Welcome back to the Market Chat Podcast. Today we are featuring an Interview with Mark Ritchie II who was featured in Momentum Masters with Mark Minervini, David Ryan, and Dan Zanger. Mark is a managing partner at RTM Capital https://rtmca.com/ and an experienced growth trader. In this interview we cover an extensive amount of topics including his Background, The Powerplay setup, Sell Rules, and Current Market Conditions. The Powerplay stock trading setup or high tight flag setup is a powerful setup that can yield strong performance in just a matter of days. Mark walks through many examples of the powerplay setup and what he looks for in terms of price and volume action Connect with Mark https://twitter.com/MarkRitchie_II https://rtmca.com/ https://www.minervini.com/ Books Mentioned Trade Like a Stock Market Wizard: https://amzn.to/3sQmo0n Think and Trade Like a Champion: https://amzn.to/32Mwnt2 Mindset Secrets for Success: https://amzn.to/3ew1bmZ Momentum Masters: https://amzn.to/3xk2uy6 Enjoy! -Richard -------------------------------------------------------------------------------------------------------------------------- Stay in touch ► https://twitter.com/RichardMoglen ► [email protected] -------------------------------------------------------------------------------------------------------------------------- If you would like to support my channel ► https://www.buymeacoffee.com/RichardMoglen -------------------------------------------------------------------------------------------------------------------------- 7Investing Discount Link https://7investing.com/subscribe/aff/2/ TC2000 Discount Link: https://www.tc2000.com/pricing/richardmoglen Marketsmith: https://marketsmith.investors.com/ms-platform/?src=A00587A&refcode=RM_Links Timestamps 0:00 Intro 0:47 Mark's Background 3:25 Love for competitive games 6:25 Beginner trading mistakes 8:35 Style Drift 10:35 Staying Disciplined with a Strategy 13:15 Having a consistent process 16:20 How to analyze market conditions and find setups 20:00 Mark's Daily Routine 25:00 When do you buy a stock? 26:49 Mark's Trading Style 28:20 Selling into strength to finance a longer trade 30:30 Situational Awareness 32:44 Buying Breakouts versus Pullbacks 35:30 Charting: Powerplay Setup 39:00 Shakeout within the setup 41:30 X US Steel Losing example 43:20 VYGR Example of a powerplay that wasn't tight enough 44:30 TH example 45:40 UUUU Example 46:40 Constructive Price and volume action 47:40 Shakeouts, Driver behind a HTF, Neglect phase before the setup 55:20 Overhead Supply 55:30 Buy point and stop loss placement 56:30 LUNA Crypto HTF 1:00:14 DOT Crypto HTF 1:01:28 Selling into Strength 1:03:44 Length of the HTF base 1:05:58 Current Market Conditions, what would mark need to see to get aggressive 1:07:55 Conditions can change quickly 1:09:00 Ignore old leaders 1:09:40 Stocks point you to the leading groups 1:10:20 Does Mark consider Macro conditions? 1:13:10 How to do Post Analysis 1:17:00 Advice for traders -------------------------------------------------------------------------------------------------------------------------- Music from Absent Mind: https://soundcloud.com/absentinlife -------------------------------------------------------------------------------------------------------------------------- Disclaimer The content of this video is for educational purposes only and should not be taken as a suggestion to buy or sell anything