How do you judge a trade you just made? For most traders, if the trade worked in their favor and they made money then it was a good trade. If it really went in their favor then it was a REALLY good trade. But if the trade failed and they lost a little, it was a bad trade. If they experienced a rug pull and lost a lot of money, then it was a horrible trade. Sound about right? Ok then, we’re done! I’m kidding of course. I used to judge my trades like this all the time. I

First, a couple of caveats to keep in mind while reading this post: if you’re a Hold & Hoper and/or someone who just hasn’t figured out how to lose yet, please start with these: Watch this webinar: HOLD & HOPE Read this blog: First, learn how to lose... I say this because what I’m talking about today could get you into even more trouble if you don’t understand your first job as a Day Trader. Just to be clear, you’re A #1 priority at all times with every single trade MUST

There are all kinds of pump and dump schemes playing out in the markets daily: TWTR pumps Chat room pumps Email pumps Article/Blog pumps News pumps CNBC pumps I still get stock pumps via the US Mail! The two (2) I want to focus on today are the intraday Twitter and Chat Room pumps. I focus on these because we see too many traders getting sucked into them lately. These pumps are the ones that can hurt day traders and their accounts the most, leaving newer and inexperienced t

As I mentioned in last week’s blog, this week I’m going to discuss my 2nd least favorite question that we’re asked all the time: “When should I sell?” For me, there are only 2 basic answers to this question and it depends on which way the stock is going. 1: If it’s going against you, sell at or BEFORE your stop. Note: if you don’t know where your stop is, you never should have entered the trade in the first place! How did you decide on your share size if you didn’t calcula

Newer and struggling traders must decide what they are going to focus on. After you’ve identified your areas of opportunity, you must prioritize. Put a list together and start with your largest area of opportunity. Tackle what’s on top of the list first and then work your way down. If you try to fix everything at once, you’ll likely fix nothing and continue to spin your wheels. Basically, you must decide what to focus on. In my opinion, too many struggling traders spend

Before we get into the actual blog post, I’d like to share how I came up with the idea for this blog: This week in chat, a trader posted that he was frustrated because he let a winning trade turn into a decent sized losing trade. I gently reminded this trader that we have a few rules to prevent that type of behavior. In fact, this rule is one of the first things I learned from GSP back in 2010 and it had an immediate and HUGE impact on my P&L. Another trader chimed in and

Why did you buy stock XYZ at the price you did? Can you explain that entry? Can you explain that entry IN DETAIL? Can you give me MULTIPLE reasons WHY you took the trade? Common answers: I bought it on a HOD (High Of Day) break. I bought it on a flag/base break. I bought in on a 2s, 5s, or 15s pullback. I bought it at support. It pulled backed to VWAP. I thought it would bounce here. All of those sound like good reasons to entry a trade. Right? Wrong. By themselves, none of

At the end of your trading day, what do you do? Most traders look up at the P&L number provided by their broker and decide how their day went. If the number is green, then it was a good day and they traded well. Even if they were only slightly green, "green is better than red!" is proclaimed! If the number is red, then it was a bad day and they traded poorly. That's not at all how I approach the end of my trading day and certainly not how I look at my results. My trading day

While reviewing a trader’s Personal Trade Tracker this week, we noticed that he was trading “something new he thought would work well”. His thinking was based on what he had been observing in the markets over the summer. We applauded this trader for trying something new! As Day Traders, we need multiple set-ups that work in different market environments. However, this trader made one fatal flaw while starting to trade his new set-up: HE JUMPED IN WITH BOTH FEET! Full posit

This is what my dogs are doing every Monday through Friday from 8:30am until Noon. What does this have to do with Day Trading? One of the biggest mistakes we see traders making is the they don't have a clear, concise and actionable set of rules that they follow day in and day out. Basically, they're just winging it! The show up for work around 9:15 every morning with the hopes of having a good day. There's no plan. There's no time table. There's no watchlist. Once the m

The goal of my blog: TO HELP YOU BECOME A CONSISTENTLY PROFITABLE DAY TRADER! As I mentioned in my bio, I'm always trying to pay it forward. I try to help traders all the time. Some of these traders are students of ours who have already taken the course and are trying to fine tune their skills. Others are traders who have reached out in chat or via email with a question or an issue they are having. I see different people struggling with the same problems all the time. So

We've noticed a trend with our most successful students. They all have several things in common when it comes to their approach to learning and growing as a Day Trader. Even if you haven't taken our course, approaching your trading like these students do could drastically change your trading for the better and put you on a path to profitability. So, what do these traders have in common? They’ve all studied the materials: They are taking their job as a Day Trader seriously.