BenTen's Watchlist + Setup + Trade Examples

Before we begin, I just want to go over my general ThinkorSwim setup and my stock watchlist.

Question: Ben, what indicator are you currently using?

Answer: Buy the Dip: Conservative Model (with Aggresive mode enabled)

Question: Ben, what tickers are you looking at?

Answer: I have a main watchlist called "Core" and a speculative/growth watchlist called "Tier 2". You can find all the ticker symbols down below.

Core Watchlist

Tier 2 (Risky/Speculative/Growth)

Trade 1: PayPal (PYPL)

• PayPal was coming down to one of my support levels. BTD (22) was hovering around the 0 line.
• 10/30/2020: I started a small position on the 30th of October.
• 11/02/2020: PayPal reported their earning; they beat analysts' expectations. The stock experienced a bit more selloff before recovering. I took that opportunity to add to my position.
• 11/10/2020: PayPal pulled back again to my support levels, I added again.
• 11/24/2020: Took partial profit
• 12/01/2020: Closed full position

Trade 2: Shopify (SHOP)

• Shopify was coming down to one of my support levels on the Daily chart. BTD lines converging.
• 11/09/2020: Started a position
• 11/30/2020: Took profit as the stock coming up to resistance level.

Trade 3: Chegg (CHGG)

• 10/26/2020: Chegg reported earnings. Great numbers. No reason for it to selloff except for people taking profit. I believe it's going to do well even after COVID. I didn't want to start a position yet because it wasn't near any of my support levels. (stay patient!)
• 11/09/2020: Okay, finally! Chegg is coming down to my support levels. I started a position here.
• 11/30/2020: Taking some profit here. Leaving the rest for it to run if Chegg decides to break the resistance level and make new ATH (it did!)

Trade #4: Advanced Micro Devices (AMD)

• 10/27/2020: AMD reported earnings. Great numbers (that's what we want to hear), the stock is pulling back (that's what we want to see). Now Ben is waiting patiently.
• 10/30/2020: AMD reaches one of Ben's support levels. BTD crosses below the 0 line. What's next? Ben started a position
• 11/25/2020: Took profit
• 11/30/2020: Huge green candle. Took profit again. Closed full position.

Trade #5: Coupa (COUP)

• I've been eyeing this stock for a while. I was eager to find an entry point.
• 11/02/2020: I started a position as the stock was near my support level. BTD was at 0.
• 11/05/2020: Took profit after two consecutive gap ups.
• I basically got lucky here. Didn't have to hold for a long time.

Trade #6: Johnson & Johnson (JNJ)

• $137.5 was a critical support level on my chart. I wanted for the stock price to come down to that level. When it did, BTD also crosses below the 0 line.
• 10/30/2020: Started a position.
• 11/16/2020: Took some profit as the stock reaches resistance levels. I'm still holding some left.

Trade #7: Data Dog (DDOG)

• Similar to the CHGG and AMD trades, good earnings + selloff = buying opportunity. We saw this in DDOG.
• 11/10/2020: Company reported earnings.
• 11/11/2020: Stock gapped down. BTD crosses below the 0 line. I started a position.
• 12/10/2020: Took some profit. Still holding some left.

Trade #8: DocuSign (DOCU)

• 11/09/2020: Stock gapped down and closed the day red. As I recalled, there wasn't anything significant or negative that came out. So, I started a position. If you look closely, the stock was coming down to my support level.
• 11/30/2020: Taking profit because the stock was going to report earnings that week. I didn't want to risk it.

I can keep going forever with more analysis, but I rather not because, at this point, it's getting repetitive, as you can see. I will post more trade examples whenever there is something significant worth pointing out.

Key takeaways

Excellent trading!!! Yes, adding to position at the right time is a great strategy!

Very nice summary Ben!

Dear Ben, Merry X’mas. Could you summarize more of your trading “strategy”?
e.g. BTD cross zero line? Do you have scan threads? Tks

This is an excellent post. We all know this portal is rather super technical with all indic and scripts. It is so good to have a pratical view on how to use a model/strategy. We should do it much more often. Happy holiday to all.

Hi Ben, As we go into the new year, would love to have you post what you primarily are using to take trades. What studies/indicators and confirming signals so we can all get the benefit of your trading plan and criteria for entries and exits.

This post is excellent and thank you.

I'd like to add, thanks for demonstrating a way to trade this indicator.

Great stuff @BenTen , very enlightening!