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Profit Maximizer and Buy Stops
Stock Trading Pro Pete Renzulli reviews the purpose of profit maximizer and the importance of getting into the habit of using buy stops when creating your own gameplan.

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Hey everybody, it's Pete. I just wanted to review a couple of questions that were posted in Discord in reference to the profit maximizer and also using a buy stop. So Tommy's asking questions about getting in on Moderna, which has actually been a really good idea last two days. Really good news.

So gr first of all, great job being in a stock. That has an edge, but I wa I just wanna review the trade, but more specifically, which profit maximizer. So I want to first start out with which profit maximizer, I'm actually gonna start out there, right? Which which PM to use, right? So less obvious equals momentum.

PM. Better order flow and volume equals trend pm So we need to be very clear about that because the one that we're using is going to be dictated by the quality of the idea. And obviously Moderna has fantastic order flow at this particular moment. Okay. Especially the last couple of days. So Tom is actually talking about getting involved.

He said at 10. 10 20, which is about as perfect of a time as you could possibly get. So somewhere in this window over here, getting involved, right? So let's just put that in there. Got in at 10 22 based on the moving averages, what looked like a profit maximizer setup and in the chat room. So profit maximizes after the stock has moved into a initial profit target.

Okay, so I just wanna be clear about that. Profit maximizer. What is exiting a trade or when it reaches a certain destination? Maybe average two range. Okay. So based on the profit maximizer, want you to still be in the trade. So this question was asked here at 1207, so we're gonna work our way through that.

Okay. So first of all, the profit maximizer that we use, if it's, let me go back here. The. Momentum profit maximizer equals for long. Something that you bought the low of the previous candle, so that's, it hits that previous low you're done. This one is a little bit different. It's the 10 period simple moving average, the violation.

Which is what we're calling it, and I'm just gonna, I'll explain what that means in a second,

which equals close below the 10 period moving average plus the next candle. Breaks that low. So it's actually a two-step E exit and I'll show you exactly what I mean. Okay. So you might wanna take a screenshot of this. Okay. So if we're talking about M R N A in this particular instance, because the conditions over the last two days, you got this gap, you got this great price action and you're following up and pretty darn good entry here too.

Not quite a two day breakout. Pretty, pretty dark close. And you actually, the next candle, you actually got a nice follow through as well. So you got everything working in your favor. So at this point, it would not be the momentum profit maximizer, it would be the trend profit maximizer, cuz you wanna maximize when the juice is on the trade, when there's plenty of stuff going on in the idea.

So in this case, we'd have the 10 period moving average in here. So I'm just gonna bring this in here. I'm gonna make this. And we're gonna walk through what the exit would have been on this particular idea. So you can see here for the entire morning, essentially from this inside daily candle inside candle breakout here you're just getting follow through.

This candle pulled back here, did not trade below it. This candle right here is the first place that it actually closed below the 10 period moving average. This one came close. This one closed below. So that means then the next candle. Needs to break that low, which is what it did. So technically that's the exit right there at 2 13 91.

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