Learn To Trade Stocks and Options

3 Lessons from My January Day Trading Results

I wanted to share my personal January day trading results as it presents three key lessons. Whether you are a beginner day trader who is just getting started in the world of online trading, or if you’re an experienced trader, these lessons apply to everyone! I don’t care what kinds of impressions people on YouTube or social media give you in regards to the life of a day trader, but these results bring a bit more of realism. There’s not question about it, being a day trader can be a great way to enhance your income and put great money into your pocket; however, it is a two sided coin. No one is perfect and the markets offer no guarantees, so you’ll be sure to encounter months like you see here. It does not mean you’re a bad trader or you have a bad trading strategy. It’s just the way of the world in day trading. Let me share these results with you and hopefully bring additional clarity to the real world of day trading!

If You’re Confident.. DO THIS! (Day Trader Tips)

Day traders need confidence in a variety of ways. If you are not confident in yourself, you should run away from the markets. When you dig into the finer details of day trading, confidence should also be taken note of within how you are managing a current trade. Most beginner traders (myself included) when getting started focus on thinking “when to buy” and “when to sell” are the most important things. Don’t get me wrong, those skills are important, but when it comes to managing an active trade, it’s equally (if not more) important. When you find yourself in a trade and you are confident in it, particularly if you happen to gain even more confidence, then making this one move can really enhance your overall trade results. I won’t be using any theory here. I will be using a real life example from some of my personal trading. Let’s get to it!

All Day Traders are Liars!!!

Are you a day trader? Yes? Well then, you are a liar! How can I be so bold to make this claim about those of us who day trade stocks, options, crypto, future, etc. online? Understanding this human nature we have is vital to finding success in the world of day trading. You would be 100% accurate in accusing me of just throwing out verbal nonsense and seeing if it sticks; however, within the video I will provide a real world example of exactly what I’m referring to. The key to keep in mind is this is only a single example. I could have included so many more, including from my own personal experience; however, a single example conveys the message just fine. Know this. You, as a day trader, are a liar! Let me explain and show you how this can be so negatively impactful on your journey.

2 Myths About Rich People

Once again, there are some myths being thrown out there by the media regarding rich people. I’m in full agreement the rich need no one to defend them; however, in all actuality, I’m not defending them, just explaining some  basics of reality and how the financial world actually operates. The second myth directly affects all of us in the world of online trading and investing. These are the topics that create outrage and drama, which of course is exactly what the mainstream media wants and loves for their ratings. The truth is, some very basic realties are being twisted and turned into a falsehood. Let’s  break down each of these myths and why they’re so silly at the most basic of levels.

This Day Trading Platform Feature is Awesome!

The simple things in life are the best. In the world of online day trading, the simple things can oftentimes be the most powerful. I’m sure you realize this, but just for context’s sake, we as day traders need to be able to think quick and execute our day trading strategies as efficiently/quickly as possible. Any types of tools or platform features allowing us to do so should certainly, at minimum, be considered and experimented with. In this video I want to share with you an awesome day trading platform feature that is only one click of your mouse (or tap of your finger), yet, it opens up the doors of so much more flexibility. Whether you are a beginner trader and just getting started or someone with experience, this is a platform feature I would highly recommend considering. Let me walk you through how it works and just how fast it allows you to operate as a day trader!

Dear Young People - What Are Memories Worth?

I have nothing against memories. They’re fantastic and certainly contain value. My problem is how people use this fact and take it to overblown proportions. Particularly when it comes to young people. I see it quite a bit when it comes to managing  money and saving to build wealth. People too often hide behind the excuse of, “you never know what tomorrow will bring, so let’s live for today!”. That’s a fair point; however, it’s confirmation bias at its best. Not only is it overvaluing memories, it is discounting the fact that certain actions in and of themselves can create fantastic memories! I want to share my perspective given I am now getting a… “bit”… older at age 39. As I look back on my life and consider my “memories”, I would say they’re not worth as much as some think. On top of this, some of my favorite memories are the ones that, at the time, didn’t feel like would be a memory of any kind! Let’s be smart about the present AND the future!

College Majors to Avoid (if you want to be a day trader)

What do you need most if you want to make money as a day trader? Yes, you need knowledge and skill, but at the core, you can be the most knowledgeable trader ever, but if you don’t have any money (capital), you won’t be trading. Therefore, it’s wise to be asking yourself what kind of college majors will cause you to actually, dare I say, “make money”? There was some interesting new information out from people in the jobs industry where they laid out college majors you should avoid. If you want to talk to me about financial nightmares, at the top of the list would be going into debt for something that doesn’t make you any money. No matter your age, if you are thinking about going to college, be sure you are avoiding the majors listed in this article. Let’s make sure you can earn yourself some money so you can have money to use to trade!

A Reminder on the Dangers of Car Payments… (here comes the blood!)

Car payments have become a very strange thing within the world of money and financial planning. The past couple of years have really twisted car payments in some very deceiving ways. There was just some new data released about car payments that is is flashing warning signals that people needed to be reminded just how dangerous car payments, actually, are. I understand things have been goofy over the past couple of years, but the data suggests that “normal times are returning” which is not a good dynamic for people making crazy decisions in regards to their car payments. If you are in the market for a vehicle, then there is blood coming and in my opinion, you will be seeing some great deals right around the corner. If you can be a bit more patient, you should be seeing some opportunities to score a great deal! Let’s go over this insane data and use it to better position ourselves to grow our overall wealth efforts.

YouTube Comment Danger (Beginner Traders)

As a beginner trader, please realize there can be a whole lot of danger in the YouTube comment section. I understand that in this day and age of technology and being connected to people all over the world it seems logical to ask a question in general, but as you’ll see in this video, it can be risky. While I can not be overly dramatic and say this will lead you to losing all your money (although to be fair, it could!), but the more accurate/probable danger is you wasting time and creating unneeded headaches for yourself. The ironic part with all of this is the people trying to help are being good people and assisting out of the goodness of their heart. The problem is, the market does not care about someone’s intentions. Facts are facts and when you are a beginner and don’t know the facts,  you can be mislead. As you get started in your journey, please realize how dangerous and potentially stress inducing the YouTube comment section can be. 

I Think THIS is What Makes Day Trading so Hard

Let me first build the context: day trading is very hard! I don’t care what others tell you or try to create the illusion of, being a day trader and making consistent money online is a very difficult task. I don’t want to lecture you “in theory”, I’d much rather be able to give you examples that are taken from the real world of trading, so that’s what I do! I was able to capture, live, some of my personal day trading stock results and it opened up a classic example of something that I believe makes day trading so hard! While we are all different creatures of personal risk tolerance, I can not say for certain that what you’ll see will be a huge challenge for you; however, I’m very confident for 90% of you, it is/will be a challenge! The best ways to overcome huge hurdles, such as succeeding in day trading, is to acknowledge the fact we are dealing with a huge hurdle. When we deal in the world of reality, and not fantasy, we are putting ourselves in a much better chance to actually succeed. Let me show you something you’ll need to be prepared for!