Day Trading Advice!

 Day Trading Advice!

So you're learning how to day trade or you've been dating for a while and you've had mixed results I have one tip one idea that you need to follow that will help change your day trading consistency today just follow this one idea so stay tuned with video so the idea that you need to follow the idea that you should be brainwashing yourself with the this one idea is the idea of aiming small why would I want to aim small what's the point of aiming small well the idea is to aim small take profit be consistent cut your losses to the point that you're trading a small account I have my daily goal at $100 and you might think well that's nothing I don't make a hundred or don't make a thousand dollars well the idea is that if I can make a hundred dollars every single day for a month for two months there's no reason that I can't increase my share size to two thousand three thousand shares the next couple months and make three hundred four hundred dollars compared to making a hundred dollars with only increasing my share sites so all I need to do is aim small become consistent follow the rules and learn learn how to be a consistently profitable day trader making only a hundred dollars a day and then from that point I'm going to double my share size once I double my share size I'll make two hundred three hundred dollars a day and you see the idea here if I can make a hundred dollars every single day there's no reason that I can't make a thousand dollars a day if I increase my share size obviously the emotion will also increase as I increase my share size but I will be able to execute I will follow the rules that are I will understand day trading better if I'm able to be consistently profitable every single day for a month only making $100 a day that's still an amazing month I'm going to beat 90% of day traders who are going to lose more than $100 a day every single day for a month and I'm going to be able to progress I'm going to be able to be positive about my day trading experience I'm going to learn and I'm going to be able to become a profitable day trader after aiming small aim small that's all you do number one rule anything small trade with a smaller size take profit fast don't be scared to take profit before the profit target if I get into a trade of two dollars and my goal is to hit 210 220 the stock doesn't look safe it looks want to drop take profit take profit make $50 and then move on look to the next trade look for the next opportunity don't marry a trade just aim small if you're just starting out you're just learning to day trade just try to break even try to break even for one month if you can break even for one month all you need to do is increase your Sarah size again and now you're making 100 hours a day and you'll become a profitable day trader much faster than the guy who's buying every chair that you can get who's making 100 trades a day and going crazy he might have one crazy day where he's gonna make a ton of money in the next day he doesn't lose a bunch of money it's gonna be a very very rough ride is a good possibility he's gonna lose in the long run and he's going to get burnt out in time he would not be able to keep it up he will lose he'll start losing bigger and bigger the emotions will start to rise he'll start losing and losing and losing to the point that his whole account blows up and there's nothing less and he's probably having to redeposit money into his account or he's trying to figure out his next game plan maybe he gets over day trading so really I cannot stress enough the fact of this aiming small when you first start out just aim to become a profitable day trader in the sense that you're breaking even break even first make $100 a day once you start breaking even then make a hundred hours a day make $100 a day for a month straight if you can make a hundred dollars every single day for a month straight you're beating probably 90% of the day traders who are losing $100 or more a day so really it's amazing that you can do that that's my goal right now this month I've been talking about I've been trading small in the sense that a stock like MV rx today I bought $2 shares of $2 it had some trouble I took profit I could have made $400 in this trade you can see it got the 221 at one point so MB rx was a good trade but I took profit it wasn't looking safe at the time it ended up going higher later on the day and that was my move that I was looking for so I was in the right place at the wrong time and I had the possibility of making $40 here on this trade but instead I only made $100 today and I'm happy with that I made $119 trading with only twenty seven hundred dollars in my account and playing it safe taking profit and not stressing I have a great day I've been doing other things and it's fine you know I made in money I walked away and I came back later and looking at some of the stocks nothing looks we that enticing so now I'm working on some videos not kind of what I do is you got to figure out a way that'll get you off the market so once you get that goal for the day just walk away figure out something else that you can do for the day and move on and come back the next day be ready for the next morning for the next opportunities that are there aiming small taking profit cutting your losses always cut your loss that's kind of the goal when you go into a trade know exactly when you want to take profit before you go into the trade so if I look at this and I'm like I'm going to get in at $2 for a possible move to 210 the stock goes to 210 I'm taking profit no matter what I'm taking profit maybe it goes higher but I'm going to take profit I'm not going to risk it if it goes to 210 it starts to come down take profit I'm not going to sit here like well I'm going to wait for it to go above 210 wait for I go to 250 because of 220 on the way for 250 no just take profit become a consistently profitable day trader by aiming small at the start don't try to get rich overnight just focus on finding the best set up some of the best day traders in the world make the least amount of trades they might only make one or two trades a day if that some people will sit here and watch charts all day long and not make one trade but at the end of the month are up 200 300 percent on the month because they waited for the best opportunities and they have a good foundation that's really the focus here when you're first starting out to build a good foundation as a day trader learning the rules and embedding those rules in your brain and getting the emotion keeping the emotion out of trading and aiming small when you're aiming small at the beginning you'll be happier with small profits and then instead of losing a lot of money becoming depressed building of emotion and revenge trading or just kind of blowing up your account in the long run so really just focus on aiming small taking profit when you have it and walking away once you get your profit goal for the day I made two trades today I hit my goal I'm done I walked away so we'll do the same thing tomorrow and the day after that the day after that and we'll see how it goes so hopefully you guys enjoyed this video if you did please subscribe the channel if you haven't already like this video and leave a comment if you have any questions I will talk to you guys later on you.




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Stock Market For Beginners 📈 TRADING AND INVESTING 101

Stock Market For Beginners 📈 TRADING AND INVESTING 101


So today I want to talk to you guys about a couple of tips I have for you if you're just getting into the realm of investing in stocks and I know it sounds like a wonderful thing to do it sounds so easy you just buy stocks and they go up and you make all kinds of money it's not true I mean it can be true but you need to have a basic understanding of what you're doing these are things that I wish I could go back in time and tell my former self about the stock market that way I wouldn't have made these mistakes in the first place so here's what happened I kind of got into stock market trading just out of something I've always been interested in I've wanted to trade stocks since I was like eight years old I can remember a trip to New York City where I was when I saw the stock tickers for the first time I was just fascinated by them I was like this is something that I really want to learn how to do I just loved the idea behind the stock market and then that day in New York City I picked up a Wall Street Journal and I read it the whole way hole on my the bus ride that we took to New York City that's where my interest in stocks started and now the problem was in order to invest you need to have money and I didn't have any money at the time so it's kind of something that was on the back burner for me for a number of years and then recently when I started working and having money coming in and having extra money on the side I decided to start investing in some individual stocks and I I'm the kind of person that likes to learn by doing trial by fire I've always been that kind of person I don't like to just have the path carved out for me always I kind of like to go through things myself and experience the firsthand but for those of you who maybe don't want to waste a bunch of your money trading stocks in making bad trades and learning the hard way I have six tips for you that I wish I could go back and tell myself because I mean I don't I don't regret going through what I did with the stock market because I learned a lot going through what I did but for somebody who maybe doesn't have as thick of skin and as much ability to take loss as I do I don't know if that sounds right but if you're not looking to spend because I'm not gonna lie to you guys I traded stocks for nine straight months never made profit on nine months I mean bad traits now on to the point where I consistently make a few hundred bucks a week trading stocks spending one to two hours a week doing this so I've gotten past that learning curve and gotten to the point where I'm making good trades and making a good amount of money with very little time and then I just wanted to mention before I get into the video here the six tips for the last three months I've been working on a trading diet or a strategy guide for a stock market trading based on all the information that I've been studying over the last year or two on the stock market I've read dozens of books and guides and talked to many people about trading stocks and I kind of collected all my favorite pieces of information into my stock market trading guide and I think it's a great place to start if you're somebody looking to get into investing and you want to know what's kind of signals am I looking for how do I pick a stock what's not should be on my watch list I feel like it is a great foundation for you as far as stock trading goes so if that's something you might be interested in I will link it up in the description and there also should be some kind of icon on the video on the corner you can click on that and that will direct you to the page that tells you more about that if you're interested but without further ado I'm not even sure if that's the freezing for that but we're going to get into my six tips for stock market trading all right my first tip for investing stocks as a beginner is get over your emotional attachment to money I'm gonna say this again because it's really really important get over your emotional attachment to money as you've grown up you've become very emotionally attached to money you love money you want to make more money and you want to hold it close to you and you want to protect it and you want to you know minimize the risks and you want to be very safe and you want to you have emotional swings with your money if you lose money if you spend too much money it's all driven by emotion and that's really gonna screw you up when it comes to trading stocks where I learned this of the book is Rich Dad Poor Dad by Robert Kiyosaki he sold 40 million copies of that book so I'd be very surprised if this is the first time you've ever heard anybody mention that book but if it is I think I paid about $7 Amazon and it was life-changing to say the least I've learned so much good stuff from that book but this is like one of the number one things I learned from that book as it pertains to stock market training money is not real you got to realize it's something that we collectively give value to it's something that we make up to represent the value of something you know we don't want to be carrying around bags of corn and blocks of gold and precious metal anymore so we decided to have a universal value associated with items start thinking of money as that don't think of it as this emotional thing that you cherishing you love it it can't be that or else you will be so afraid to lose money that you'll lose money once or you'll get your emotions evolved on training and that's not the place for your emotions trust me your emotions are very valuable tool in other areas of your life but when it comes to the stock market leave them at the door then you have no business in your trading strategy you want to be trading based on technical data the numbers in front of you the charts in front of you and nothing else you don't want to be trading based on how you feel that day maybe you got a bad night's sleep that you should not bring that into your trading strategy that needs to stay in other areas of your life keep your emotions separate from your stock market trading you can't be emotionally attached to your money because the truth is with stock market trading you're going to win some and you're going to lose some the idea is your wins will outweigh your losses you're gonna be winning more trades than you are losing trades and that's how you're making profit over time there's no way you can always be right but if you're trading based on data and nothing else you're going to have the best chances of being right because you're not going to wake up one day and see that you that your stock fell and all of a sudden you you go oh my god I've lost $1,000 I better sell you only lose that money if you sell you only lose if you sell it could go back up all right and if you have data in front of you that may show you that oh it may go back up oh there's a good reason for this oh it's just market or industry correction you need to start trading based on data and not your emotion okay my second tip for somebody as a beginning stock market trader is invest in something you actually care about and I feel like this should be a no-brainer but it's not because I made this mistake too this is kind of what my stock market strategy looked like when I first started trading I'd wake up and I would open up Google News and I'd be like I scroll through there'd be like oh somebody said that this stock is going crazy it's blowing up it's got so much potential let me buy it I bought stock in a jewelry company I bought stock in biomedical companies I bought stock in oil I mean I don't have an emotional attachment to any of those things I mean I know I just said don't have an emotional attachment to your money but it is okay to have an emotional attachment to the stock you're representing you want to buy stock in something you actually care about if you really like video memes find a video game company or anything involving video games something that has to do with something you actually care about for me I'll give you my example I live around malta and right in malta there's a big chip fabrication plant and they make chips for AMD and i've bought stock in AMD simply because I've seen what AMD they're the main ship that that company is making chips for over there in Malta but I've seen what that has done to our local economy and I'm so thankful for them for coming here and so for me I have an emotional attachment to that stock because I'm like you know I'm really happy I'm proud to represent that company with my money and as a result when you buy something that you're proud of when you buy something you're actually interested in when you're buying something you care about you'll be less likely to sell based on fear and panic now I've pulled this story a lot because it's a very true story if you I mean it's not something that's it's just a really good example of this I bought shares of AMD and I've walked them at a terrible time and I had no idea but I watched sharise on the very next day they company unloaded a bunch of shares they offered them to the public at a much lower valuation then the stock was currently valued on at the stock market what they were doing was they were selling stocks in order to pay off high interest debt so in the long run it was a great move in the short term it decimated the stock I mean I saw the stock go from seven I bought the stock I believe 744 share it hit like just under six dollars a share within two days so as far as my trade goes within two days I was down over a thousand dollars okay if I didn't care about that company I would have sold I guarantee you I would have sold I would have said you know what this was a stupid idea why did I buy this I better sell before I do is more money but because I cared about the company I was like you know what I don't think this is the end I don't think this is it I'm gonna hold and see what happens and I ended up making over $1,000 on that stock not even two months afterwards so because I care about that company and I was proud to represent them with my money I ended up not selling at the bottom I was able to you know weather the storm and you know I wasn't worried about fear and panic I had you know confidence in that company and as a result I was a hold on to it and I sold it I made a good profit not not long afterwards so that's something you guys really need to do when you're looking at stocks pick a stock and the company that you actually care about our industry that you actually have interested all right I'm sure with this third tip some of you out there are looking at me like I know but a lot of people don't know this and I had the same problem with this tip the third tip buy low sell high I'm gonna say it again buy low sell high one more time buy low sell high I'm sure every person you've ever talked to about trading stocks just pulled this piece of information but nobody follows this rule and I'm going to explain to you why you need to be going against the grain with your trading you don't want to be buying a stock when everybody else is piling into it that is called the herd mentality in my ebook I talked about how there's three types of people who trade out there there's people make bearish investments those are people who are betting on the stock to go down and they make money from falling stock prices there's bullish investors who are betting on the stock to go up and they make money from rising stock prices for the most part that's where the majority of people are trading and then there are the sheep and the Sheep follow the herd being led by other people because they don't have the confidence to make decisions themselves and they get slaughtered by the market the stock market is unforgiving it's true it really is it will it can make you or it can break you there is no forgiveness when it comes to trading stocks so if you go online and you do what I did where I was going online and watching what stock was way the hell up it was flying you know the sky's the limit with this stock you got people on the news just talking about this stock left the right everyone's piling into it I was like I can't lose I better get into this stock well what's up you want your mind tells you you want to get into a good thing and we see a stock in decline almost as like a sick stock and you can't look at it that way you want to buy low you want to buy that stock what everybody else is selling you want to be seeing people on the news saying get rid of this stock I mean within reason if it's if you see other reasons to buy that stock it's not like you just want to go out there and buy a loser stock you want to do your research and understand why is the stock is going down in value but you don't want to buy stocks that are sky-high their net they're gonna come down it's all hype you don't want to buy stocks based on hype you're going to end up losing a lot of money that way I can't tell you how many stocks I bought based on what I saw on the news I know one of them like I said I bought a jewelry company I bought Signet jewelers and for some reason I read an article on like seeking alpha or one of those trading sites that was like this stock has unlimited potential where we could see this stock trading 10% above the words trading in the next two months I was like of course it will it's so high right now you know my head was in the clouds with the stock and unfortunately reality sending the stock went down and I lost money and I sold down I bought high and I sold low and everybody seems to understand this if you ask them how to trade stocks they will say if you tell them buy low sell we'll say yeah but give me a real piece of advice and they don't follow this Pete this key rule this is like the cardinal rule of trading and I know every time I talk to people about stocks and I give them this piece of advice they think I'm being an asshole but I'm not people don't understand this this is the cardinal rule of trading they think I'm mocking them like oh here's the tip guys buy low sell high but it is the cardinal rule of trading and you may think you understand it but I didn't understand it even after reading book after book I didn't get it until I really realized what I was doing you do without realizing it you buy a hot stock in the news you don't want to do that it's as simple as that okay tip number four quick and easy one this is something again if you haven't guessed these are all mistakes that I've made in the past and I'm sharing these with you so this is something I did over and over in the past when I first started trading I put like five hundred dollars in my trading account and I was like well I don't want to spend it all in one place so why don't I buy like a couple of different stocks diversification is not a bad idea but when you invest so little you have to overcome your Commission before you can even make a profit and in most cases you're never going to and I mean explain to you why that is if you don't realize this just because this is a beginners but I want to explain this when you go on any website etrade Scottrade when you're going through a online stock broker or any stock broker they're going to charge a commission for trading your stock the prices vary based on websites your based on if you're using a life broker or whatever you're using you know human broker but for me online I trade with Scottrade and it's like $7 a trade some of the sites are a little bit more but Scott trade seems to be like the best bang for your buck as far as that what I found and just throwing this out there I'm not paid by Scott trade I wish I was however I'm not but I just like to tell people exactly how I knew things because uh I like to be transparent even if I'm not getting paid for I want to be honest with you so when I was trading with Scott trade I bought a number of stocks and companies you know or I bought a number of company stocks spending about a hundred dollars on each trade so here's the problem with that let's say you spend $100 in stock of the ABC company which that doesn't exist I just made that up but you're gonna pay seven dollars on Scottrade to buy that stock alright then you're gonna pay seven dollars to sell that stock so yes you pay Commission every time you trade a round trip is opening and closing a position so every round trip you're gonna pay $is how much your stock would need to increase just to offset your commission costs let me say that one more time fourteen percent before you even make a profit let's not talk about slippage though or no let's talk about slippage because what is slippage slippage is the difference between the buy and the ask price for that stock so just because the stock is trading at a certain value doesn't mean that you're going to get that exact price for it now when you trade a higher volume stock there's less slippage because there's more trading going on but you could possibly if you're treating a lower volume stock have a good amount of slippage which means that maybe the stock is trading at 20 dollars and 10 cents a share of it you only get $a share for it because that's what the current buy and ask prices are for the stock so you won't necessarily get the quote of the stock at the time because of slippage so your stock needs to increase 14% in value plus whatever slippage is involved before you even break even so let's say you were trying to make $20 on this stock you know you invested a hundred you're hoping to get 120 that means that the stock would have to increase 14% to 114 before you even made any money and then account for your slippage you're talking about having that stock raised 30 or 40 percent somewhere around there before you even make any money on that but you know that's that's the point when you're making your $20 but even if the stock increased 15% which ask anyone that's a great stock that's a great investment if you have a 15% return on investment you haven't made a penny you haven't even made back your money yet when it's increased 14% and if it increased 14% and you sold because of slippage you would probably still break even or end up slightly in the hole on that stock that is I suggest you do not invest any less than $1,000 on any given trade if you don't have the money to invest thousand dollars save your money and spend your time right now researching and learning more I promise you guys I know you're eager to get into the stock market but it will not hesitate to kick you right in the gut and send you back to your chair okay it will teach you a lesson whether or not you want that lesson I'm gonna be honest with you guys okay so my fifth tip for beginning stock market trader is do not buy the news this is something that I did like many times over and over and it's something a lot of people do you go on like NBC or any news channel and you're watched like you know the money in the financing reports and the shows that are all about the stock market and they talk about what the newest Hotte stock is and I know earlier in this video we talked about the herd mentality and when you run with the herd you're treating like a sheep that what that means is you don't have the confidence to make your own investment decisions so you'd rather have somebody else tell you what to do and when somebody else is telling you what to do it makes you feel like okay if I lose money I can blame them you need to hold yourself accountable for your trades in one way of doing this is don't trade the news there's a lot of people out there trading the news a lot of people watch the news and a lot of people trade the news what you want to do instead is you want to buy the rumor sell the news so let's say for example there's articles out there saying okay this company may be releasing a new product on this date that's a rumor okay it's possible that it's just a rumor and it's not true but on the chance that is true you may want to make a small investment in that then you find out okay it wasn't just a rumor it was true and then they released this new product the stock goes flying sky high that's the point when that stock becomes news that's the point when all the sheep are dogpiling into that stock and it's going way high but you bought before people knew what was going on you bought before was mainstream and as such you paid a lower price for that stock and now you're able to make a comfortable profit sell while it's safe before that hype ends in the stock falls over because it's my second point here guys is not a safe investment I don't like to trade hype okay so my final stock market trading tip for beginners is this check stocks a few times a day I actually forgot what it was so I had to turn around and look at that so if you're wondering what that was I completely forgot what my tip was but now that I jog my memory let me elaborate on that for you guys you don't want to check your stocks every minute of the day I know it's exciting it really is that's the reason I trade it's an adrenaline rush when all of a sudden you buy a stock and and it's going it's going sky-high and all of a sudden you're like I actually made money trading a stock oh my god but you don't want to just sell immediately because there's potential for more and you don't want to be watching the stock so carefully that you get shaken out of the position too early I've done I've done this many times where all of a sudden I'll check my stock like I you know the stock market opens at I remember on one occasion it was like in the morning I log on and I'm like holy crap my stock is up and I think I had like about $140 profit at that time and I kept like hitting refresh like every 15 seconds and like oh what's up oh crap I lost money oh look up two cents now oh no we're down three cents oh we're back up four cents you can't watch a stock that carefully because it's going to be changing so minutely at that point that you need to look at what the trend is maybe the 15-minute trend a 30-minute trend of that stock so what I do for myself now because I made this a rule for myself after I made this mistake of getting shaken out of a position too early and on that mistake I mean yes I did make money on that stock this was one of my early AMD trades okay I had like $180 profit okay I logged on and I saw watching the chart minute to minute that the stock fell like three minutes in a row and I'm like oh god it must be doomed it's going down this is the this is the most people are willing to pay for the stock I better unload and then the next day that I sold I want to make $1300 but instead I made 180 because I got shaken out of my position so that's the lesson for you guys take a time increment no less than every 50 minutes in my opinion so if you're getting excited about your stock and say it's tight o'clock in the morning you check the opening numbers on the stock and you see it's up say okay I'm gonna close this at I'll check again at I'll check again 11 o'clock I'll check again do not leave stock charts continuously open on your phone or your computer if you will get shaken out of a position and it may not be a bad thing because look you made some money okay yes that was a successful trade for me on AMD I made like 180 bucks but had I not gotten shaking out of my position I may have made $1000 on that early Trade and I've traded AMD a number of times and I have done well with that stock but I could have done a lot better had I not gotten shaken out of it because I was checking the stock too much like I said guys it's exciting it should be exciting because once you are able to take this knowledge you have and apply it in the real world and be able to pull money out of thin air it's amazing it's a great feeling it's a rush and that's why I trade all the time but you need to you know keep your emotions in check and make sure that you're not playing it too safe because for me I left a lot of money on the table because I was watching my charts too closely okay guys that's pretty much all I got for you these are my six tips for a beginning stock market trader and these are things that again I wish I knew when I started but I was able to learn them in the long run and I went from trading nine months in a row without profit to making a couple hundred bucks a week by trading one to two hours a week it's not hard guys and if you watch this video all the way I just wanted to thank you for spending the time you did with me and I really hope I was able to shed some light on this topic for you guys and if this information is something that interests you I really think that my ebook might help you out as well because it kind of expands upon a lot of this stuff in it outline my exact training strategy of how I am consistently making a couple hundred bucks a week with very little effort trading stocks but I thank you guys for watching and I hope to see you in the next video.



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Trading 101: How to Buy Stocks

 Trading 101: How to Buy Stocks

So you just heard about this stock market thing you want to buy some stocks but hey how do you even do that I see all these different order types what do they mean let's talk about it first thing before you can even do what I'm about to talk about in this video you need to take an initial step and that initial step is signing up for a brokerage and with the brokerage you want to do an online brokerage don't go to your community bank or something like that and then go through their brokerage because their fees are going to be crazy so online brokerage I'll put a link in the description below that I put together a guide on kind of how to select the proper brokerage for your situation we'll also flash up a link on the screen here so that'll be down in the description box below so that's step one first got to get aligned with an online brokerage after you get signed up maybe you are already signed up you're going to have a bunch of different choices for orders in terms of how to buy and how to sell so that's what I want to break down in this video so we're just going to take it one by one and hopefully you know when you get through it all you're going to understand what all those little drop-down options mean you know when you click that little arrow and you see a bunch of choices maybe there's just boxes you select or whatever but regardless hopefully you've seen all of these because they are very commonplace so just for argument's sake we're going to talk about a stock that is currently trading at $25 so $25 current price of stock we'll just call it ABC now the first type of order you may see is what we call a market order so what does market order mean if you select that option that means that I just want it and not only do I want ABC I wanted at any price it doesn't even matter to me I just want into the stock I want to own shares I want to buy it not in a few minutes right now so market is just saying I want it now and you're going to pray whatever price the market gives you so if this happens to fluctuate up - let's just say 2502 so if that price goes up 2502 for whatever reason no maybe like a split second before you click the Buy button and it goes up 2500 - it doesn't matter you're getting in at 25 Oh - if it goes and let's just say let's just it drops to 24 you know 97 right before you buy it doesn't matter you're getting in you want it now so it's going to give you whatever the market has the current price at so that is what a market order is next type of order a limit and all strategies are different but a limit is more times and not the order that you want to be using because market orders especially you know penny stocks or ill liquid markets I can get you in quite a bit of trouble but a limit but also at the same time market orders do have their place in the market so I don't want to say like this is you know like a black hole or anything I mean they have their time in place but a limit order is essentially saying I want it but so what is the but the but is saying you know I really do want that but I'm only willing to pay a certain price for it so again if the stock is trading at 25 you're like you know I do want in - ABC but I don't I don't want any at 25 you know I'm only willing to pay $you would select limit order and then when you select limit your brokers going to ask you okay well what is the but meaning what price are you willing to pay so in our example here you would put in a limit order for twenty four ninety all that means is you're not going to get any shares of this unless the price hits so if the price drops down and hits 2491 you didn't get any shares if the price goes up to twenty-five fifty you didn't get any shares you were only willing to pay twenty four ninety on the order that's what a limit order is the next type of order very very important type stoploss now the thing here is stop-loss only pertains to you if you've gotten in so either this or this order type has already taken place in order for a stop-loss order to be relevant to you and a stop-loss is saying I want out now the name the little deceiving because it implies that maybe you're you know stopping a loss but in other situations you know especially when you get more advanced trading a stop-loss can still take you out of a position but it's not really stopping a loss because you would already be making money so it's not like this pertains to only losing trades this is just the way again of saying I want out of the trade that could be a losing trade it could already be a profitable trade but you just want out now within this family there are two types and hopefully these both kind of sound familiar there is a market stop and there is a limit stop market is saying I want out now so it is just going to get you out of the trade whenever so let's say you get in right here at 25 and you're like you know what I only want to risk 10 cents so you could put in a market at 2490 and if the price goes down there and hits 2490 bam your broker is going to sell your shares and you're going to get out but market means no matter what so if the price really starts to go down fast maybe by the time all little computer algorithms do their thing that's the price is that 24 you know 85 well because you're doing a market meaning you want out now it's still going to just sell you and get you out at 24 85 sure you said but because it's a market that's not a guarantee the only guarantee is your broker will get you out of the position on the flip side the limit so we'll go with this 2490 you're saying I want out but I'm only willing to take a loss of up to 10 cents meaning if the price does one of these numbers we're just moving so fast that it just essentially goes down through your order which is possible depending on how fast things are moving that the way the market works but let's just say something - the price - starts to collapse like bad news or something comes out in the price just whoosh you know the toilet flush down it goes because a lot of other people going to try it 2490 you just may not have any shares there you may not be able to get out but the problem here is well you're only willing to sell for so when the price hits 24 85 you're not selling price hits 24 50 you're not selling price hits 24 you're not selling because you said well I'm only willing to sell for whereas the market sure it can cost you a little bit more because maybe you don't quite get out when you thought you do but at least you get out so again all orders have their time in place but I'm going to just kind of circle this one a limit stop-loss can be very very risky for the situation where if some sort of bad news comes out and if it skips over what what your limit order is you know who knows how low can get and your broker is just going to hang on to you of the shares because you told them well I'm only I only want to sell at so you know keep that order in mind it can be you know I'm not going to say to never ever ever use it but I'm really struggling right now off the top my head to think of an instance where that sort of you know stop-loss order maybe you know wise to use so these are going to be the three main ones you use now there's a whole other family of orders called conditional orders but that's more advanced maybe I'll come back and do another video on that sort of stuff but these are going to be the backbone of the orders you know if you ever watch any of my live trade videos I mean these are the orders that I'm using so it's not like because there's advanced orders that means you have to use them you know the planes plain and simple order such as you see right here are going to be more than enough and then final or finally I should say these aren't really ordered types I suppose in a sense they're but maybe you've seen GTC this just means good today will cancelled meaning your order is going to sit out there so if you put in an or a limit order here for it's going to sit there and sit there and next week it's going to still be sitting there three months from now it's still going to be sitting there opposed till this one I don't think there's a universal term for it but essentially applies you know it's good till the end of the day so we'll call it GTE good till end of day and this is one where hopefully that's pretty self-explanatory if by the end of the day the price let's just say goes to twenty five twenty five oh five twenty five oh two twenty four ninety seven so it's just fluctuating it never quite sit twenty four ninety by the end of the day well then this order is going to be cancelled and you don't have to worry about it so I see something like this is if you forget about the order then it's okay because it'll get cancelled at the end of hope you're not forgetting about orders but if you do it's going to cancel itself but this one here if you forget about it you know you may have a surprise if you don't come back and check your broker for you know another three weeks and you're like oh yeah I forgot about that order and it may be sitting out there who knows maybe it's been filled but that's going to be what GTC stands for good till cancelled opposed to the other type of orders words you know just good up until the end of the day so like I was saying these are the you know not advanced orders very basic but this is what I use all the time in my everyday trading this is what probably I was going to say 90% of people use but I guess I don't really know if that's a accurate fact or not but majority of people I just use the word majority majority of people do use these order types and they're really all that you need so limit market and then your stop-loss orders here now you get a grasp of these and how they work I just like to remember it you know as these you know market I want it now limit I want it but and then you know you combine these with the stop-loss which when you're talking about stop-loss is you just want out of the trade so hope you found this helpful obviously this is the design for more of the new people out there so if you are newer and this helped you out please click the like button if you're new to the channel then by all means subscribe a lot of other videos and such on the channel I released live trade videos chart analysis videos all sorts of stuff so definitely subscribe and check things out hope you found this helpful so get out there and happy trading you.




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Trading Gaps for Daily Profit

Trading Gaps for Daily Profit

Hey my friend thank you for read this article on trading gaps for daily profit this is Barry burns with top dog trading and let's jump right into it so training gaps is one of those classic techniques that everybody learns normally right at the beginning of their trading career and it's a very very popular way of trading it's very appealing in the sense that it looks easy at first glance and it also is one of those things that doesn't work as well as it used to and it doesn't work the same way as it used to work but that's not surprising because it is so popular anytime anything becomes popular guess what that's raid about the time it stops working everybody knows about it everybody starts trading it and guess what most people lose money so once everyone starts doing something it stops working you've got to have an edge by that I mean you can't be doing the same thing everyone else does so here's the classic pattern that people are always looking for so we've got one day here by the way these are California times down here and this is a daily no it's a three-minute stock chart and so you've got your open way down here and the previous day closed way up there in the easy way for trading gap trades gapped reading strategies gap trading intraday gap trading rules whatever is to just say okay I'm going to trade it back into the close of the previous day in Japanese candlestick patterns by the way they also traded gaps and they call it closing the window so it's really nothing new to the Western world the Japanese were way ahead of us on that so they said okay windows open and now it's going to close all righty that's great any yep that's fun when it happens but it's not the way it normally happens anymore I'm sorry they never make it easy for us to do it do they okay but obviously it's still that happens sometimes and there is an example now let me show you what happens most of the time these days here's another example and if you were you say alrighty we closed here this day and we opened down here this day and I'm just going to trade the gap clothes right away you'd be a sad little puppy because it didn't close right away in fact let's watch this whole day see how it closes when it closes all right so we think well okay I'll just treat it later in the day and the day ends there's the end of the day and it still didn't reach the gap close there's the line right there so one of the questions when it comes to technically how to trade this is alright where do we put the line so if we're looking for the gap to close now technically you would say we should do it at the previous day's close because that is literally closing the gap it closed at one price one day and then it opens at another price another day and you're waiting for it to close or get back to the close of the previous day that's not the best way to do it the best way to do it in my opinion is to look for the little low there and that's just a more conservative way to trade it because I've seen many times where if you put it at the close or the last bar could be a green bar and it may be the close would be up there then and the markets are not that perfectly neat and tidy and so they're kind of messy and they're messy because you've got millions of people all over the globe trading and teen different things different time frames and so forth so don't expect it get to the exact penny pip tick or pixel on your chart that you wanted to get to allow for that messiness would be conservative and place it at the lowest low there and wait for it to come back into that level ok so now that we have established that technique here's the other thing that I want to share with you after at the market gaps quite often what happens is it goes kind of sideways for most of the day in fact yeah so what happens there you go big move down with our nice gap boom okay and goes all the way on actually goes all the way down to there in the first three minutes so from there to there in the first three minutes what happens the rest of the day not a whole heck of a lot of anything alright it just kind of goes sideways that is what normally happens now that is the norm that is what you will see more days than not and remember trading is about trading probabilities and we never know what's going to happen there are no certainties so we're trading probabilities and this is the probability scenario and part of the reason logically is because after the market has a big move down and remember this is not showing any pre or post market data because if you show pre and post-market data you won't see the gap so there's been trading that's going on over an eighth day or early in the morning before New York opens and now so what's happened is a bunch of people shorted and when the market opens open outcry and most people are looking at their charts they're saying hmm dang I don't know I've already missed out on that big of a move so whatever I want to do do I want to go short now I mean the dominant direction is down but I already missed out on all that so psychologically the Masters are saying I'm getting in too late on the other hand the sentiment is bearish so some people are thinking gap and ghost some are gonna buy thinking that the gaps gonna close and you've got this conflict so you've got people on both sides in the bottom result is that after gaps quite typically on a daily or a intraday chart the market really just doesn't go anywhere just kind of goes flat for the rest of they it's usually not a great trading market for the rest of the day so here we go and it's a several days down the the pike here about three days later and we get another gap so from there to there do we get a gap close if you're gonna trade the gap closed maybe you even wait for the peak there to come back down nope sorry you are not going to get it the whole day goes by and they does not ever close so what does happen well just what I said gaps up and now we've got conflicting views in so therefore the market goes sideways for most of the day it finally does go up but again goes up in the afternoon after lunch actually so if you are going to look for a market move after a gap usually it's going to be after lunch and that's exactly what this is this is one o'clock New York time ten o'clock California time and where does it go it goes back to this blue line hey wait a minute what's that blue line well that blue line if we scroll back that's where this gap started so the gap does close eventually this gap that we just showed but it closes not the same day there's day one and I'm gonna scroll through faster the two nope day three yes yes so it took three days for that gap to close therefore what I recommend is that you do put these levels on your chart and make them something unique like a different color or whatever color you want that you know means something to you but just that you don't use for anything else so you might use something that stands out you're not gonna use it for other support resistance levels so let's say when they use goldenrod okay and we're going to make it a little thicker so it really stands out and that whenever I see that line with that thickness I know oh wait that's where a gap close would occur and it is acting like almost like a magnet really that yes the markets are very aware of gaps the masses are aware of gaps no question about it and for that reason they do tend to have a self-fulfilling prophecy so I put it on there but I don't expect us necessarily going to fill in the first day or even two might take three I take more oh in fact what the heck let's look further let's take that puppy off of there and let's look in some further examples here so here we get another gap from there to there that's the open and that doesn't close there's your gap from the previous day okay so that one doesn't close and we do not close that day let me just put the line on there again make this clear for you so there I would put it there see now this day we closed here but I wouldn't put my line there I'm gonna put it down here just to be conservative right so then now look what happens this is cool let me ask if that's all in one chart you can see this so we gapped down this day we don't fill that gap that day again notice how the market kind of just goes sideways for you know most of the day then the next day the gap fills but you don't really have a chance to take the trade for the gap fill because it gapped up into the gap fill so it gets down and then it gets back up into the gap fill well great no opportunity to take that trade unless you were treating overnight again we get the same dynamic here that I was talking about a pretty good gap up okay goes up and then what's it do for the rest of the day just kind of go sideways sorry not really anything exciting to do if you didn't want to do something and be in the afternoon take that little move there so now this level it's not only a gap closed but it is a support levels the market bounces off of it comes back again as support in bounces back off of it alright goes back on up and let's see there we go get another one good fact we got two more so let's look at these real quick I've got a gap up market again it doesn't really go up much from there it goes kind of sideways does not fill the gap next day gaps up it's a gap and go goes up but again what most of the day after reaches its high it's just going sideways the afternoon you get your movement where it breaks out alright well if you like this video please understand that yep it's free but if you got value from it please you have a moral obligation to pay it forward by sharing it with other people click that beautiful little share button below it's a real pretty nice little button there and you will feel good you will sleep well tonight if you click that button knowing you did the right thing and that's really the best thing you can do to help encourage me to create more free tutorials for you click the thumbs up icon leave a comment below I love your comments by the way they really encouraged me as well and I'm giving away one of my favourite trade strategies called the rubberband trade which has a very very high win-loss ratio simple trade I'll teach it to you in about 26 short minutes get my rubberband trade strategy absolutely free by clicking on the image in the top right corner of this video or in the description below of the video and if you're not watching on YouTube then there's probably a link below or an opt-in form on the side once you do one of those choices I'll personally email the video to you with the rubberband trade strategy you


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