Today's Trader Talk guest is Scott Andrews of Master The Gap. Scott graduated from the United States Military Academy (West Point) in 1987 and proudly served our country as an Army officer and aviator (helicopter pilot) for 5 years, which included Operation Desert Storm and Desert Shield. He also earned an MBA from the University of North Carolina in 1995 and subsequently co-founded www.sciquest.com, serving as CEO and Chairman. He then took the web-based software company public in 1999 and then private a few years later.
Scott's first trade was in 1991 and has been trading full time since 2004. Gaps are his "bread and butter" trade. At the encouragement of some fellow traders, he started calling out his daily gap plays in a live trading room in early 2007. During this time, he earned the nickname, "Gap Guy." The volume of interest coupled with the dearth of quality gap trading information on the web, prompted the development of MasterTheGap.com.
Posting his daily gap trade plan (with exact stop and target) in advance of the opening bell for members of his private blog, Scott generated a 67% win rate (88/132 opening gap trades) during the tumultuous period of September, 2007 through February, 2009 (launch of his new site). Using 2x his standard leverage, he more than doubled the starting equity in small, gap-only account while keeping his worst drawdown to less than 20%.
There are many different ways to trade gaps successfully. Scott's goal is to arm you with historical probabilities and tools to help you trade gaps more profitably, while establishing a community of "gappers" for the benefit of all. In this 25 minute interview, we cover topics such as his strategy, research, game plan, execution and characteristics of successful traders.
For more from Scott and how to trade gaps like a master visit him HERE!
