How I (finally) Transformed My Day Trading
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- Опубликовано: 5 июн 2024
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In this video, I break down 5 key lessons that have been crucial for transforming my trading.
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0:00 Intro
1:23 Market First
3:20 Supply & Demand
4:38 Relative Strength / Weakness
5:44 Sizing Down
6:38 Buy Pullbacks
7:55 Recap
transform your life by scrolling up and hitting the thumbs up button on this video!*
*results not guaranteed.
Yo check out Carmine Rosato here on RUclips!
check out last week's video!
Hi! If you dont mind me asking. How long have you been trading with real money and what is your net ROI?
@@gecn9685 a little over 2 years. would rather wait until stats stabilize so as to not deceive anyone one way or the other. i've withdrawn $100k in realized gains and deposited far less... but i got lucky early on.
Thanks Daniel for the transparency
As a full time daytrader, everything that was mentioned is spot-on and practical. Even with such great advice, any new traders will inevitably have to face his errors in order to understand fully what it means.
I myself I’m trying to turn daytrading into my only job and I completely agree with you , even if I had watched this 2 years ago I would still make these mistakes and honestly is not bad when u lose money you really learn as long as you don’t use more money than you are comfortable with losing
100% true
But these are also things i already know for so long...
Agreed
@@HermanWillems So what? Me too, but doing them is the important thing....There are plenty of other RUclips videos you can learn from rather than whinge about it here..
Spot on as always. I started almost a year and a half ago, went through everything you said and now, finally, I’m beginning to be consistent by no longer subscribing to paid rooms, only listening to what other tell me and all that mess. Now I stick to my own research, my own notes, my own plans, and it’s worked out better than ever. Always following everyone else you never have time to make your own plan or figure out YOUR trading style. You become too busy reading what everyone else’s plans are and what they are trading and if someone on twitter makes a call….they are already out of it by the time they post it.
Man this is MONEY! Master these and ur cookin with gas! I was struggling to stay above PDT then dropped below a few grand which really hurt my ego. I revenge traded then loaded the boat on a put position when my mentor went long. *I was trading the one minute. I could not have gotten a worse entry. The next 2 candles I was down 25-30%. I held on some more but eventually too a 40-45% haircut. I switched to a cash account and trade wayyyyy better bc #1 I can’t over trade. #2 I have to wait for A+ setups…. I no longer has a fear of being under PDT bc of the cash account and sizing down watching the 3 and 5 min charts for set ups and 1 minute for entry really helped me out.
Keep doing those please :) you and Matt are actually what we all needed in this space
Perfect advice!! I’ve been trading for about 1 year and can attest that the points you make are spot on. Trading doesn’t have to be super complicated. Keeping it simple helps us stick to our plans and manage emotions.
⬆️⬆️ Now, Msg my What'sap line above to gain information and advise from me
This was amazing video, Thank you for taking the time to share. I am 6 months in to equity trading and you just nailed everything that I hope to achieve and yet still struggle with. Great explanation of core fundamentals that can create a successful trader. I would love for you to keep sharing you future success and setbacks. Thanks again!
“Trading is mental it’s on us… not the market” the most important line you said!!!
Very nice video!
The greatest kernel of truth.
Love the straight to the point videos man keep it up
Thanks bro, all great tips!
really solid video Daniel
Thank you! I'll try to follow your advice!
Gold Daniel! Thanks bud!
This is good advice! Good on you for covering both strategy and the emotional game. So so important.
sizing down to 50 shares max was transformational for me as a beginner trader. I'm still a beginner but it's helped me get a handle on my trading to really clarify what i'm doing without being uncomfortable with a loss. $50 max loss on a single trade is nothing for my risk tolerance and i can easily grab 2-3R on many of my trades while I'm learning. This keeps me in the game longer and protects my capital while I gain screen time and valuable trade review time. I know I have at least 2-3 years to go before becoming remotely proficient, but that's ok.
good job - when learning trading the goal is to learn - if it works money comes anyway
I see people being profitable after 6 months to a year. You can do it sooner then 2-3 years
The best mindset I've heard in a while for a beginner trader (I assume) 2-3 years is a good goal without rushing it🎯 (From my experience.)
@@momolacoste874 I've seen people win the lottery but most of us don't so 2-3 years is a very normal goal.
Love the content Daniel!
Amazing. I’ve just gotten into the sentiment of not letting emotions run my trading. Just got faked out today on AAPL during the run.. because I had bought the top. Reversal came, and exited. Had I stuck to my plan and was not in a big position size I would’ve stayed.. but I exited and the stock ran to my original PT’s I had drawn out just 15 minutes after. It really pays to be patient and a hard lesson learned. -30% on the port, but I won’t let it get to me as I realized my mistakes. Thanks for the video, gives me a concrete reminder to stick to my rumes
Reach me out ⬆️⬆️🚀🚀
I still want to try this so appreciate learning from all your lessons
Great tips, thx buddy
Great video man ty
The last 2 points hit me hard! When I let my emotions take over, TA goes out the window 😅. Needed this reminder.
THANK YOU! I don't mean to yell but you nailed it when you said "Its easier to see a trade in hind sight , and its much different to trade when its in the moment." That is the one thing I hate when some of these "Traders" that sell you courses show you. I mean yeah if I could go back to that trade and buy in I would, but watching it unfold in real time is a very different experience. Thanks again for that bit of truth!
needed number 4
I haven't been able to hold my trades even though they end up going as predicted. Need to learn to set and forget my trades.
Great tips, you briefly touched on what I think is the most important tips for traders, but you didn't make it one of your bullet points:
You don't have to make a trade.
as a discretionary trader, it is completely up to you when to enter a trade. some days you just might not see anything (or see it too late), and thats okay. Trying to grind a few hundred bucks every day will make you take shitty trades because you haven't found a good one yet.
Reach me out ⬆️⬆️🚀🚀
Wow, very succinct, informative video.
GOOD CONTENANT THANK YOU
your videos are the best as u time yourself well so easy to keep up
Hit me up 🔥☝️
WE REALLY NEED TO TALK
Thank you thank you thank you for just boiling it down to basics.
Thank you!
Dude your content is always such good quality! Congrats on making the transformations. From one struggling trader, happy to see you progress! Keep going man, one day at a time :)
LCID to the moon
I brought OILU, yesterday at $125, so expect the oil prices to be down awhile the stockmarket control OG-Reggie B...
Calm, rational, no BS, appreciated. Liked and subbed.
Amazing content. Thank you. I still don’t know how to trade options but everything else you said in this video resonates with me. Started trading big caps a month ago, I buy pull backs and it’s working way better than when I used to trade small penny stocks.
Appreciate the help 🙏
There were good points. Nice work
Just discovered your videos, I’m only about a year into learning about trading, and finally starting to wrap my brain around concepts that hav confused me for so long. Really love your experiential take on this journey. It’s giving me another data point of context in what it takes to be successful in this. Keep up the great content!
⬆️⬆️Msg my What'sap line above to gain information and advise from me on ways you could diversify your portfolio in weeks
only a year? bro thats a long time
Quality video. thanks mate!
great video! thx
I started two years ago as well. I have learned everything you are talking about. Lately went to a naked chart as I was getting too confused with all the info I had learned with moving averages, VWAP etc. Watching a naked chart and trading price action, supply and demand and using an RSI is the best for me. Also making base nits versus home runs helps a lot too. Great job on this video. 😊
Hey man you should check out VUMANCHU and market liberator on trading view if you are a volume trader, use the free shit don’t buy the 1500 market cipher! We have the same strategy
Agreed, Base hits all the way! Consistency and slowly accumulated gains can make a huge impact. As a new trader in SIM, I’ve been averaging over 20% gains the last two months respectively taking smaller gains at my modestly-targeted partials. And the times I got greedy wanting more, I ended up missing gains.
Really good advice to people who are new or even semi aware of trading, great summary
Hey Daniel,
Love your content it's helped so much.
What platform or scanner would you recommend for doing analysis of the market?
thanks for the infos, this help too understand better
awesome video!
This is nice, you stuck to it and its paying off, dope
Amazing quality videos.
Love the updates and your transparency in the process. Would also love to see an update video on how things are going this year with you day trading account and how you are playing this crazy volatile market
Great video! These are spot on and the same conclusions that I have painfully arrived to.
Thanks Dan!
Truly excellent video! One of the most straightforward, understandable, and sensible of its kind.
Very helpful!
i really needed this. well said.
Hit me up 🔥☝️
WE REALLY NEED TO TALK
this is so good thanks a bunch
Thank you very much ❤️
glad to see supply and demand getting out there more, im a member in investitrade and i would say it has given me the knowledge and confidence to the point where i can feel that im a few steps away from becoming consistent and pay myself.
These are some really useful reminders that you share with a well-structured, relaxed and articulate delivery. If your trading is anything like your delivery, then your days have got to be fairly stress free. Such a key point you make about trading really coming down to being a mental endeavor against ourselves and our ability to follow our strategy--nothing could be more accurate. Thanks for your input, Daniel, it's much appreciated. Keep up the great work.
thanks for the thoughtful comment!
Thank you for your effort
SIMPLE AND CLEAR. GREAT VIDEO. WATCHING FROM INDIA
Maybe the best synopsis I've seen of essential trading principles; well done, as always!
Great vid man
Amazing video thanks for the advice
Reach me out ⬆️⬆️🚀🚀
Great videos, thanks
This was extremely insightful and relatable. Thanks for the great content.
Very good advice brother
Hit me up 🔥☝️
WE REALLY NEED TO TALK
How tight can you make the SL when you enter at the 9? I find it a little confusing placing stops around that area and do you wait for a reversal candle near the 9 to enter on the 1min? Maybe 3min? Or do you just enter immediately touching the 9? Awesome video!!
Thank you for the amazing content and quality advice👌🏼👌🏼
great video, glad to see your progress
Super solid
Thank you for the clear and reasonably timed video. Your honesty is a comfort as well.
Reach me out ⬆️⬆️🚀🚀
Great tips!
Awesome video
You've come along way!! Great to see it and its helping to inspire me to take the leap!
Two years into day trading and you are still going. Definitely beat the odds so far.
Hit me up 🔥☝️
WE REALLY NEED TO TALK
I have been day trading for half a year now and I've gotten to a point where almost every trade I take I will always average out to breakeven (it took a lot of losses to get here). Everything you layout in the video is dead on, I just seem to forget it every now and then when I tried to go with a more heavy position on my option contracts. But somehow I always ended up back to these strategy... its like my brain want more profit but different strategy every time. The journey is real!!!
⬆️⬆️Msg my What'sap line above to gain information and advise, your account can also be managed by me, making good potential returns
This was superb thankx for sharing your experince with us.
Hit me up 🔥☝️
WE REALLY NEED TO TALK
Well done the way you were able to consolidate that down to those Five Points yeah that would have been good when I started Trading.
Great video Daniel!
I'm starting out my trading journey and just trying to soak up as much information and helpful tips as I can. I know it's going to take years of practise but this video had lots of great takeaways that I plan to integrate into my trading plan.
Thank you, and keep up the great work!
best of luck to you!
⬆️⬆️Msg my What'sap line above to gain information and advise, your account can also be managed by me, making good potential returns
Been following your trading journey from the start. Happy to see you found some consistency. Good luck to you bro. I'm on my journey with it as well so wish you the best and see you at the top.
If there is demand, could you do a video on different Moving averages? 5 day or 20 day and when you might look at one over the other, especially for stops, like you showed in this video.
Thank you for this video. I have been trying to get into trading, and your videos have answered so many questions. Thank you.
Transparent, informative and very easy on the ears. Love your content thank you for this Daniel.
⬆️⬆️Msg my What'sap line above to gain information and advise from me
You look chills and steady while losing or winning. Very good mindset. Maybe size trade down is the key
Your journey has been awesome too watch man. You seem so much more chilled and confident and this is real knowledge. Good stuff man
Great video, I prefer to work the Wheel Strategy on weeklies, which is a little boring and not much profit per week, but it adds up. It's also easier since I don't have all day to check the markets. I can set it and wait for the expiration.
My rules:
One trade a day
Master Only Dow Jones index
Only trade when ALL of my pre requisites are met.
Don't trade certain times of the day.
Don't move my SL TP.
1:1 Risk reward.
Journal - this helped me narrow down to more than 90% win rate by eliminating frequent losers.
Control FOMO.
Stay calm and grounded.
I lose everytime I don't follow my rules - so the last rule is to always follow all my rules.
dow jones 1:1 means how much return on yearly... And you are sitting in front of your screen for this ONE trade whole day? :)
yes, always stick to the rules
⬆️⬆️Msg my What'sap line above to gain information and advise from me on ways you could diversify your portfolio in weeks
Sizing down sounds like what I need to be doing right about now. What you described is exactly what I'll go through when a trade starts going against me.
Reach me out ⬆️⬆️🚀🚀
Amen brother. 2 years in myself and totally agree! Thanks.
Just Know Your Highly Underrated...Never Forget That! :)
Hey Daniel, I appreciate your videos. I have just begun my day trading side-career. I love to trade TSLA as it has daily opportunities most times. I was wondering if there's a way I could pick your brain a little on how to find the best setups for TSLA. I struggle to find the best setups sometimes and have gotten burned. I've since reduced my position sizes which has helped a lot like your video has pointed out, but want to improve my win rate.
Look forward to hearing from you. Thanks!
i day trade tsla almost every day. i usually look for a breakout, then pullback around 9ema or vwap and then enter. usually a very quick trade for me.
So many nuggets of good info. Thanks Daniel.
Golden suggestions
Great video and advice for all traders.
Good morning! Man, one day the time is going to change on that special clock and I can’t wait for that day.
Hey Daniel. This makes so much sense. Thank you.
Btw which platform do you trade on?
mainly TOS. i also have webull.
Good stuff
Thanks for this practical and logical info Daniel.
Thanks for the video. It's so nice to see wisdom coming from the actual experience. I found those same things in my own trading like market is not the enemy but I, or wait for pullback because it's hard to keep the emotions in control if one just markets in and the price retraces a bit against you.
⬆️⬆️ Thank you i appreciate...
Msg my What'sap line above to gain information and advise from me
totally strongly completely agree
Such a helpful video!
Reach me out ⬆️⬆️🚀🚀
Great tips, I love how straight to the point and informative this video was. Thanks for sharing!
⬆️⬆️ Thank you i appreciate...
Msg my What'sap line above to gain information and advise from me
Two thumbs up, good content, verifiable by those in the know, host recommended! Peace love and soul.
I’ve watched so many trading videos from various people, but this channel always speaks loudest to me. Sensible practical advice that I can actually understand.