I’ve been trading options for over 15 years. The worst thing that can happen is winning trades when you first start but not actually knowing what you’re doing.
I remember making a day's wage on my first couple of trades. I felt like I figured it out. Then I lost it all the following week. Only then did I start learning the fundamentals lol.
That is by far not the worst thing that can happen. Common sense should tell you that losing all of your money is way worse. Nobody really knows what they are doing with trades because they don't know which direction a stock will go and they don't know what other traders trading the same stock will do at any given time. That is generally speaking (there are exceptions like a bunch of people chatting about buying GME stock for example).
I appreciate your approach to teaching.. To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green. How are other people in this market raking in over $350k gains within months
I have to agree with the majority of the comments on here, after having watched hours of youtube videos for the past 2 weeks, your content is packed with actual knowledge (utility) and is actually soothing. And the kicker is....you arent trying to sell me anything and you even show your losses. Very respectable. Have seen most of your videos and they are all well produced: music, transition, headlines, etc. You are very skilled. Thank you so much -Gil
This is perhaps the most sober and well-balanced video on day trading that I have seen. No gimmicks, no screaming douche making absurd claims, no buy my book or course bs; just an honest, realistic perspective on day trading and a good reality check to temper expectations. Much appreciated! 👍
Can you go into a in depth video explaining the options screen? I know what options do but I'm not sure what the "in money" or outside that shaded area means? Also you can click the ask or bid on the call side but on the TD paper trade it gave me an error when I tried hit the bid number under the call side. Showing that I'm selling something I don't have I guess. The TD paper trade is confusing lol might have better luck understanding robinhood options first but they don't have a paper trade options. I have 1,000 that I'm willing to lose so I'd like to try trading some low stock options like GNW for example to see what happens vs something that would cost me $500+ for one contract. Also, if my contract is a bust do I just lose the amount I paid to buy it initially? Or can I lose more than that? All of the videos I've watch don't explain the options page in depth but you have done a better job than most in the videos I've seen that you posted. I guess what I'm asking for are scenarios. Like if I do this and this happens these are the results. Or if I buy this and I goes in my favor how do I sell. Thanks!
Great vid... .shocked a bit that you didn't really touch on Futures and the low cost to get in along with it being 23hr a day ... keep up the great content
I would advise most people to not go into trading, it's a little bit like gambling to be honest. Real traders are in Wall street and do it as a full time job, they are not youtubers and part-time traders. I appreciate the honesty of your video but wished you spoke about the "get quick rich" aspect it puts in front of us every day. You need a lot of money and you need almost a phd in statistics to make it in trading, that's the cold truth unfortunately...
I’m Taiwanese and this channel is absolutely a better source of knowledge than any other domestic so-called gurus sharing stock news online. I just want to say thank you and also letting you know that there’re few viewers from Asia out there!
Great video. Been a hard few weeks for me taking a toll on the emotions. All about just continuing the journey and pressing forward while constantly improving. Thanks for the inspo!
Your streams have taken a toll on my emotions this week too. Thank you for doing what you do! It’s nice to watch someone who isn’t selling anything and doesn’t hide his red days. I feel like I got a huge head start trading futures from watching your streams.
I have to admit, the quality of your videos is unparalleled. Your calm demeanor and the way you break down dense topics are the highlights for me. Thank you for all the good work!
I like the reality check of your videos (as well as the diversity of things you try). As one of your older viewers, I can tell you that day-trading looks awesome when the stock market is hot (like it has been these last several years), but it becomes terrifying when the market winds shift suddenly. oh -- Love the 'stache!
I agree with most of your advise..... except the part about joining a community of other traders. It's great to feel like your not alone in this but I found when I cut myself from the trading community my trading soared. I was officially relying on myself and I wasn't get getting conflicting information about something I believed. I would think the market is going up because of my analysis then someone else would say the opposite because of theirs which now makes you second guess your decisions. I believe joining a group after you are consistently profitable and truly believe in yourself isn't a bad idea but any sooner could hinder your growth.
Man, I cannot tell you how much I appreciate the fact that you clearly and concisely break down what you actually did, in detail. I'm seeing a lot of trading videos that turn out to be vague or superficial and rely on clickbait titles. Not so on this channel. Great presentation, too. Keep it up!
I come from online poker cash games (since 2004). There is A LOT of similarities, i can tell, in the money/bankroll management, risk management, and in the importance of handling emotional / mental game aspects
I’m just getting into trading and you’re the most enjoyable to watch. You definitely kept me from jumping in with no idea of what I’m doing, and seeing your successful trades has motivated me to learn as much as I can.
The absolute minimum these self declared "traders" should be posting is a 10 year track record fully audited by an independent 3rd party. Since not a single one of them does you can rest assured that they are talking BS and most likely making lunch money.
@@Harishshrma24 yes. I don't know of any day trader who is consistently making money over a 10 year period. The better traders might have a good run for a few years then blow up. None of them provide fully audited accounts of trading history so what does that tell you? It's like buying a car without it's service history/log book.
@@pennyhardaway7491 yeah I can realistically say I don't know about the long-term but in the short term I'm going to keep doing it. I've already paid myself back what I put into start the account so I can't technically lose money. But at the same time I don't know if I could be fully classified as a day trader because I do open and close positions the same day but I sure don't trade everyday and when I do trade I'm not doing more than maybe two in that day. I don't like to take the risk of holding stuff overnight or long-term So I only get into position when there is a very strong trend and as soon as that trend reverses or stops I immediately close my position. I don't really believe in technical indicators I believe in watching the market and scalping for opportunity. But the thing is is I do work a full schedule in the stock market because even days that I don't trade I'm watching the market the entire day that's the biggest mistake all traders make is thinking you have to trade you don't have to trade you should only trade when there's a reason to trade!
I love the tone and delivery of your content, emphasizing that is more educational as opposed to selling an idea or a product. I have seen a variety of videos which had their own way of making it "dramatic" or "you snooze you lose" factor. Your content has so far been pretty relevant (have also been trading for a year or so myself) and just the right amount of keeping your audience engaged! :)
We're in similar situations. I started trading this past January after enrolling in a course I picked after watching several of the free webinars offered by traders. Fortunately, the options trading course I picked was the right one for me but I have still spent the last year watching hundreds of RUclips videos in addition to the course videos I paid for, reading, learning and practicing. I am just now starting to feel comfortable and more confident with my strategy; it feels great to make money when I understand what I did rather than feeling like I just got lucky with no idea how to do it again. Even with this, my emotions will sneak up on me and, before I know it, I'm doing something stupid like breaking one of my rules and getting into a trade I shouldn't have and there goes some or all of my profits that I worked all week for! Studying my trades afterwards is huge in helping me to see my mistakes/stupid decisions so I can stop making them. I'm still learning and getting better. I'm very happy that I chose to learn how to trade when I did because I'm starting to see fruit from my investment and labor.
This is the best video about trading so far. I don’t need someone to reach me how to Trade. But the points covered here are the same ones I follow to remain profitable while I am still learning. In my opinion, most important thing to learn is yourself. Great job man.
man i just found your channel, instant sub, you have a very nice voice to listen to and just an overal calm attitude, you seem legit... keep it up dude
Great points and video. I’ve learned over the years that in most cases, if someone is trying to sell you a system to make money “like them”, then it’s either a scam or very low probability it works. Selling The “system” is making them more money than doing the system. After all, if you can make $100,000 in a few hours everyday, why waste time with training and RUclips videos, which are a lot more work?
Thank you for all your great advice love the video! I'm still new to the game. Been trading for about 6 months now and I just thought I'd like to share my experience. I agree with a lot of your points in this video. Emotions kill you more than anything does. Hope greed and fear being the worst of them! I think the biggest issue people run into that I know for sure I did when they're new is over trading. There's just like this thought that the more trading you do the more money you'll make. And I feel like the worst thing you could do is win big on your first trade. I wanted to trade options and my very first trade I bought a Amazon option expiring the same day and made a 9X profit. Which does happen but there's a lot of risk involved and the rarity of it happening isn't really worth the risk. My first two months for Rocky I would have nice gains but my loss were also big. Over the course of that first two months I refunded my account three different times $500 so I blew my account three different times! So what I had to do was look at why I was losing when I was losing and how I was losing and that's what a lot of people don't look at I feel like they get the high from the win and it becomes more like a gambling thing. If your thought is to get rich you're probably going to lose a lot of money like I did. But if you look at it from a different perspective like you're running a business you can be profitable. I found when I was looking at all the reasons I was losing was hope hoping something would come back after I was already losing badly. Greed not wanting to take 20% gains when they were on the table based on past trades having 2X or more and the last thing fear fear of missing out. So after I started looking at all these things. Taking in my past experiences from trading and doing a lot of research from a lot of different traders. I started to form a strategy and there are so many different ones out there different ones work for different people I hear but that is the biggest thing that I think you mentioned and what everyone should know is you need a plan you need a strategy. You need to know when to cut your losses and you need to know when to take your gains. So what I did was find 10 stocks that have high volatility that were big brands. Limiting the amount of stocks I trade really helped me really keep up with the 10 I do to have a better memory in knowledge of where it's been and where I think it's going. Then I decided to limit the amount of trades I do in a week to 15 3 a day. This made me a lot more selective and made me pay greater attention to my indicators also it makes it to where I work much less which is nice! Lastly I had to come up with a profit loss ratio I was comfortable with. When I first tried it I didn't know if it would work or not because with this strategy I would still have to win majority of my trades to be profitable but what I did was make my profit margin small. I made my take profit margin at 10% and my lost margin at 20%. I trade options and not stocks so first just let me say if you're going to do that there's much more volatility. That is also the reason why my loss margin is greater than my profit margin. But at least for me I win more trades than I lose. I don't know the exact numbers but I found I could probably lose one trade for every five wins. I think the biggest thing overall though that has made me profitable is limiting my trades and being very selective for big spikes and big dips wow not staying in and having it reverse on me with options if your timing is correctly you can get in and out very fastly. That being said you got to be ready and be quick to put in your sell price either way if you're selling for profit or loss. If the option gains instantly when I buy it I set my 10% sale price and I'm ready to press the button once it passes it I will let it continue to go up when it passes that price but the minute it dips I press the button on the same side if it takes a dip right after I buy it I set my 20% loss sale price and I'm ready to hit it if it starts approaching that price. Since I have implemented this I have had profit every week given that profit does bounce around but what I also do to try to make more profit in the future while also making sure I get money is I cash out 75% of my profit as a paycheck and compound the other 25%. Okay I'm sorry this is extremely long message I'm just still excited to be trading and I guess I wanted to share awesome video welcome all new traders if anyone took the time to read this thank you I appreciate it and I hope it helps you
Good read, but I think you could definitely make more by compounding a larger percentage over time. Slow and steady wins the race, aiming for 5-10% profit in a trade is pretty safe, after awhile that gets to be a pretty big number, faster so if you compound more, but i understand that everyone has bills to pay. 250$ is more than I make in a day, but I think that's a fair goal for trading, across three trades that's an average of ~83.30$ each, which would easily be possible within that 10% goal assuming the initial investment is 2,500$. Unfortunately for me, I'm not aiming to trade options, as they're affected by the SECs PDT rule and require a 25,000$ account minimum in the US. I'll be trading futures pretty soon though, and I think I can reasonably make that much every day. May fortune be forever in your favor
Straight to the point, like the first 90minutes (Volume), kudos bruv, that seems simple and direct but it quite important and easy to miss, gurus will take you in circles about that and end up with nothing
Day trading is a job/profession. You also can't expect to play in FIFA your first attempt at soccer (even if you accidentally shot a perfect goal from across the field your first time kicking a ball)
I like your channel, @Daniel Inskeep, and you are humble and straightforward. You seem bright and enterprising, so I offer you this advice on your journey to building wealth: don't trade. Invest. While it is not as fun, buying quality companies with a unique competitive advantage and holding (until the story changes) is going to net you far better results over time. Buying at a reasonable valuation helps. Remember, buying a good company at a bad price, which day trading can be, is nearly the same as buying a bad company. If you can't manage this, you are probably better suited for owning indices. you will still build wealth with the power of compounding interest
My experience is that it takes a couple years to become proficient. Further, you need to spend more than a few hours doing it. You must work very hard. I have recently just recently put 6 positive weeks in a row. I have been at it for a couple years and I have lost money. BUT I wanted to try it because I enjoy it very much. I wouldn't buy a course but I would read books. I am trying to do 6 months positive. I have made many mistakes but I think I am learning. My losses are much smaller and my wins are getting larger. My percentage is around 61 percent and has moved up 8 percent from when I first started.
Hey man. Stay honest. Honesty might not bring you as many viewers. But the viewers you get will be loyal. another great video that new traders can understand👍
i realy liked the fact that you presented the information(very well) and at the end of the video said about like and subscribe. I subscribed and liked just for that.Keep up the good work!
I'm kinda happy that you post these videos and preach a good trading philosophy. My first passion was and is photography but since I discovered it, trading's become my biggest passion! Still on the learning path, no doubt in my mind that we can be the top 1-5% ;)
The financial markets seem to be suffering more than the real economy from the prospect of further Fed tightening, I seriously need suggestions on how to diversify my $500k portfolio made up of volatile TSLA.
The market is volatile at this time, hence I will suggest you get yourself a financial advisor that can provide you with entry and exit points on the stocks you focus on
Yet another great video; I especially liked the "Consistency" chapter where Daniel shows a trading month which didn't go well for him in terms of profit, this "ugly truth" one seldom see in videos from other traders - thank you Daniel for being so f..king honest...
Great video! Def agree that it's not a "get rich quick" field, there is a lot to be learned and too many people get in without a strategy and emotions hit too hard. Love the videos!
Great advice. No one gives you all the facts as well as you do. Most people make it sound easy. Good to know most traders fail and this is extremely complicated and time consuming just like any hard job. Thank you.
I think the single most important thing in trading is being able to read the charts, the 2nd which really really helps with the chart reading and probably predicting what might happen is doing your due diligence, 3rd is well knowing when to take a loss or profit.
Working on my paper trades right now and really learning from my losses. I learned that crazy price increase(due to me not closing before end of day on a Thursday) IV crush and time loss ate a huge margin and basically sold put option at 99% loss. Keep posting great content.
Great videos, Daniel! I'm just starting out here, you've given some really great pointers. Thank you! I think anyone can benefit from watching your content.
Those are some very interesting statistics. But yeah as you said 80% of restaurants fail in 5 years. Any endeavor that pays a lot of money will be extremely hard to master.
Год назад
wut the hell! I’ve seen your videos before and I thought you’re just starting. This was 2 yrs agoooo :o I’m starting to love this channel
I consider this video as very useful with maybe obvious advices numerous times said but it's better to remind them over and over. The the hardest thing I meet during the trading is keep the emotions under control.
Good video. I've done a bit of swing trading. Similar but not day trading. Honestly I would not recommend it and I was quite profitable. It is much easier to analyze companies and focus on the fundemtals. If you can find undervalued companies you will always make a profit. If you day trade or swing trade what worked for me it first finding 5-10 companies and then analyze the patterns for a week or longer. You will pick up on stuff. Learn all of the patterns in day trading. I would recommend getting software such as trading view if swing trading. Good luck.
Taking your emotions out of it really is key. I do some very basic day trading, not as a source of income now, but the markets gain about 7% per year, knowing that, I had to do better than that, or I might as well throw my money in the Nasdaq and be done with it. That comes out to to .6% a month. I shoot for double that, can I make over 1% a month? Sure this doesn't have the big money appeal that day traders go for, but if you can beat the markets you are a head of the game. I make a few small moves each week. Since I last revamped my strategy I have a 87% success rate of picking them right. These aren't big money moves, but it's a slow and steady approach, and it works for me.
Started at the beginning of the year with my friend's Discord group. It's been more of a learning process this whole time. I'm only up about $400 on the year. But I see it as a slow burn. The knowledge and experience I've gained is so valuable. Despite the small gain.
that brazilian study has a big flaw, it was made on the 2 most common indexes (mini dollar and mini ibov index) 2 extreme manipulated markets that can only be traded using leverage, thats not the case with spot trading
Looking forward to hearing more about your futures experiment. I’m only a couple months deep but they feel like the ideal instrument for day trading and scalping.
Thank you for sharing your knowledge and being so transparent. It’s really awesome when you run into someone that’s willing to share valuable information in a very accessible manner like a RUclips video! God bless and keep going!
My two cents for the newbies, I have been a prop trader for 8 years Have a pre-market routine regarding the market and stocks, levels , size it makes sense to enter, expected volatility Don’t make hunch or boredom trades, learn how to handle drawdowns( don’t try to recover fast, even if its painful) Manage your daily risk into number of trades, don’t try to hit homeruns( unless its just keeps going in your direction but don’t force them) singles can take a long way. Always know where your stop is before entering a trade, don’t have too much bias ( the market can do the most unexpectes thing and you can blow your account) This works for me, cheers
Alternative safe "day trading": selling covered calls and the like on diverse, broad market and high volume ETFs, like SPY. Very high probability of success.
@@gsxrrider7643 More like 15-30% annually if you sell twice weekly. You also need a substantial cash outlay for day trading to handle down days and eke out enough profit from slim margins overall. Also stats say about 99% of day traders lose money. Selling CCs is almost the inverse, if you do it on something like SPY.
you didn't talk about futures! I watched your video from a few months ago - signed up for a paper account and been paper trading daily on the QQQ - LOVE IT
Gotta have a day job that covers the bills, and the losses. I trade 6 am - 10:00 am CST. I work 11:00 am - 7:00 pm. Life is better having that balance.
My experience with trading is the opposite of most people. I initially lost 1/6 of my account on the first day and then slowly over the next 3 months I turned a 85% profit from the low Or a 60% net profit. Now I’m taking a break from trading to study stats, macro economic, and price patterns. Plan to get back in soon. Mostly doing forex, and I have a leverage of 500:1. Accounts in USA suck for leverage.
👆👆👆👆👆👆👆👆👆👆I have never regretted investing with this group they are just the best and trustworthy. I invested 3 Bitcoin with this group and I got 5 BTC now within two weeks of trade they are the best
Hard pill to swallow. 90% of ya'll here for get rich quick. I'ma tell ya how to approach it correctly. Day trading is a flavor you haven't tasted yet or maybe fully tasted. See if you like it otherwise move on. Don't burn yourself out in something you don't really enjoy.
Hi Daniel! I really like your outlook and realistic approach to trading! I find it refreshing that you can admit to your losses as part of your journey as you’ve made incredible progress! It’s so inspiring. As a new trader, lots of points you’ve made resonated w me. And we start out w over confidence when we are new but soon the market wakes us up and lets us know that we are not always right! Only thru our mistakes do we learn and grow. Overcoming greed and fear is key. Being disciplined takes time as our habits are an extension of our personality and we need to train ourselves. Anyway, glad to have found your videos.
I’ve been trading options for over 15 years. The worst thing that can happen is winning trades when you first start but not actually knowing what you’re doing.
I remember making a day's wage on my first couple of trades. I felt like I figured it out. Then I lost it all the following week. Only then did I start learning the fundamentals lol.
Just described exactly what happened to me haha
@salty fisken good luck. It’s a tough business but keep at it.
me. guess why im here now . hahaaa
That is by far not the worst thing that can happen. Common sense should tell you that losing all of your money is way worse. Nobody really knows what they are doing with trades because they don't know which direction a stock will go and they don't know what other traders trading the same stock will do at any given time. That is generally speaking (there are exceptions like a bunch of people chatting about buying GME stock for example).
I appreciate your approach to teaching.. To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green. How are other people in this market raking in over $350k gains within months
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of an expert
your calm attitude is soo enjoyable to watch, way better than the youtubers who scream all the time and make cringey jokes
Yeah and you'll get returns with those tubers, this guy is gonna miss the mother of all short squeezes lmao
@@Martin-ys4sr i don't know what short squeeze you are talking about but i sure do hope it's not $GME
Yo yo yo who wantztah make sum monayeeeeeee!
That's what I was going to say. =)
@@timoexclusive8674 AMC already started
I have to agree with the majority of the comments on here, after having watched hours of youtube videos for the past 2 weeks, your content is packed with actual knowledge (utility) and is actually soothing. And the kicker is....you arent trying to sell me anything and you even show your losses. Very respectable. Have seen most of your videos and they are all well produced: music, transition, headlines, etc. You are very skilled. Thank you so much -Gil
thanks, gilbert! i appreciate that.
🥩🚴♂️
look in the video description, I can see a whole lot of stuff he's selling.
This is perhaps the most sober and well-balanced video on day trading that I have seen. No gimmicks, no screaming douche making absurd claims, no buy my book or course bs; just an honest, realistic perspective on day trading and a good reality check to temper expectations. Much appreciated! 👍
i'm glad you appreciate it! thanks for watching.
💯 exactly
imposter scammers are out in full force. remember, my name will always be highlighted in my own comment section!
Wow Thank You so much.
Daniel I am sorry I thought that person was really you. I was almost so close to making a big mistake. Thanks for saving me.
Can you go into a in depth video explaining the options screen? I know what options do but I'm not sure what the "in money" or outside that shaded area means? Also you can click the ask or bid on the call side but on the TD paper trade it gave me an error when I tried hit the bid number under the call side. Showing that I'm selling something I don't have I guess. The TD paper trade is confusing lol might have better luck understanding robinhood options first but they don't have a paper trade options. I have 1,000 that I'm willing to lose so I'd like to try trading some low stock options like GNW for example to see what happens vs something that would cost me $500+ for one contract. Also, if my contract is a bust do I just lose the amount I paid to buy it initially? Or can I lose more than that? All of the videos I've watch don't explain the options page in depth but you have done a better job than most in the videos I've seen that you posted. I guess what I'm asking for are scenarios. Like if I do this and this happens these are the results. Or if I buy this and I goes in my favor how do I sell. Thanks!
Great vid... .shocked a bit that you didn't really touch on Futures and the low cost to get in along with it being 23hr a day ... keep up the great content
I would advise most people to not go into trading, it's a little bit like gambling to be honest. Real traders are in Wall street and do it as a full time job, they are not youtubers and part-time traders. I appreciate the honesty of your video but wished you spoke about the "get quick rich" aspect it puts in front of us every day. You need a lot of money and you need almost a phd in statistics to make it in trading, that's the cold truth unfortunately...
That's why I started night trading 😂
good 1, you should make a video tutorial about it
lmao, thats a good one.
Knowledge.
This is the funniest thing I’ve read today
Day Job For bringing in the Money and night Trading to Blow it all
I’m Taiwanese and this channel is absolutely a better source of knowledge than any other domestic so-called gurus sharing stock news online. I just want to say thank you and also letting you know that there’re few viewers from Asia out there!
Great video. Been a hard few weeks for me taking a toll on the emotions. All about just continuing the journey and pressing forward while constantly improving. Thanks for the inspo!
Your streams have taken a toll on my emotions this week too.
Thank you for doing what you do! It’s nice to watch someone who isn’t selling anything and doesn’t hide his red days. I feel like I got a huge head start trading futures from watching your streams.
This guy is something else! Good content.
bless 🙏🏻
I have to admit, the quality of your videos is unparalleled. Your calm demeanor and the way you break down dense topics are the highlights for me. Thank you for all the good work!
I like the reality check of your videos (as well as the diversity of things you try). As one of your older viewers, I can tell you that day-trading looks awesome when the stock market is hot (like it has been these last several years), but it becomes terrifying when the market winds shift suddenly.
oh -- Love the 'stache!
I agree with most of your advise..... except the part about joining a community of other traders. It's great to feel like your not alone in this but I found when I cut myself from the trading community my trading soared. I was officially relying on myself and I wasn't get getting conflicting information about something I believed. I would think the market is going up because of my analysis then someone else would say the opposite because of theirs which now makes you second guess your decisions. I believe joining a group after you are consistently profitable and truly believe in yourself isn't a bad idea but any sooner could hinder your growth.
Man, I cannot tell you how much I appreciate the fact that you clearly and concisely break down what you actually did, in detail. I'm seeing a lot of trading videos that turn out to be vague or superficial and rely on clickbait titles. Not so on this channel. Great presentation, too. Keep it up!
thanks! i get annoyed with those vids as well 🤔
When a trade hits red, it messes with your head - Daniel Innskeep
I come from online poker cash games (since 2004). There is A LOT of similarities, i can tell, in the money/bankroll management, risk management, and in the importance of handling emotional / mental game aspects
i commented yesterday "we need part 2" on the first vid of daytrading
and today got this
damn that was fast
I’m just getting into trading and you’re the most enjoyable to watch. You definitely kept me from jumping in with no idea of what I’m doing, and seeing your successful trades has motivated me to learn as much as I can.
Run.
The absolute minimum these self declared "traders" should be posting is a 10 year track record fully audited by an independent 3rd party. Since not a single one of them does you can rest assured that they are talking BS and most likely making lunch money.
@@pennyhardaway7491 is day trading really a scam?
@@Harishshrma24 yes. I don't know of any day trader who is consistently making money over a 10 year period. The better traders might have a good run for a few years then blow up.
None of them provide fully audited accounts of trading history so what does that tell you?
It's like buying a car without it's service history/log book.
@@pennyhardaway7491 yeah I can realistically say I don't know about the long-term but in the short term I'm going to keep doing it. I've already paid myself back what I put into start the account so I can't technically lose money. But at the same time I don't know if I could be fully classified as a day trader because I do open and close positions the same day but I sure don't trade everyday and when I do trade I'm not doing more than maybe two in that day. I don't like to take the risk of holding stuff overnight or long-term So I only get into position when there is a very strong trend and as soon as that trend reverses or stops I immediately close my position. I don't really believe in technical indicators I believe in watching the market and scalping for opportunity. But the thing is is I do work a full schedule in the stock market because even days that I don't trade I'm watching the market the entire day that's the biggest mistake all traders make is thinking you have to trade you don't have to trade you should only trade when there's a reason to trade!
I love the tone and delivery of your content, emphasizing that is more educational as opposed to selling an idea or a product. I have seen a variety of videos which had their own way of making it "dramatic" or "you snooze you lose" factor.
Your content has so far been pretty relevant (have also been trading for a year or so myself) and just the right amount of keeping your audience engaged! :)
I love your honesty. You actualy talk about losses. That is the real world.
I can tell you made it to Chicago. Sweater and beanie in May.
Its 80 here and Florida Man is pretty epic. Cheers for the video.
Dude youre the only person in this space that ive liked watching. Honest and you explain things well
We're in similar situations. I started trading this past January after enrolling in a course I picked after watching several of the free webinars offered by traders. Fortunately, the options trading course I picked was the right one for me but I have still spent the last year watching hundreds of RUclips videos in addition to the course videos I paid for, reading, learning and practicing. I am just now starting to feel comfortable and more confident with my strategy; it feels great to make money when I understand what I did rather than feeling like I just got lucky with no idea how to do it again. Even with this, my emotions will sneak up on me and, before I know it, I'm doing something stupid like breaking one of my rules and getting into a trade I shouldn't have and there goes some or all of my profits that I worked all week for! Studying my trades afterwards is huge in helping me to see my mistakes/stupid decisions so I can stop making them. I'm still learning and getting better. I'm very happy that I chose to learn how to trade when I did because I'm starting to see fruit from my investment and labor.
This is the best video about trading so far. I don’t need someone to reach me how to Trade. But the points covered here are the same ones I follow to remain profitable while I am still learning. In my opinion, most important thing to learn is yourself. Great job man.
man i just found your channel, instant sub, you have a very nice voice to listen to and just an overal calm attitude, you seem legit... keep it up dude
Great points and video. I’ve learned over the years that in most cases, if someone is trying to sell you a system to make money “like them”, then it’s either a scam or very low probability it works. Selling The “system” is making them more money than doing the system. After all, if you can make $100,000 in a few hours everyday, why waste time with training and RUclips videos, which are a lot more work?
Thank you for sharing and for being honest!
Thank you for all your great advice love the video! I'm still new to the game. Been trading for about 6 months now and I just thought I'd like to share my experience. I agree with a lot of your points in this video. Emotions kill you more than anything does. Hope greed and fear being the worst of them! I think the biggest issue people run into that I know for sure I did when they're new is over trading. There's just like this thought that the more trading you do the more money you'll make. And I feel like the worst thing you could do is win big on your first trade. I wanted to trade options and my very first trade I bought a Amazon option expiring the same day and made a 9X profit. Which does happen but there's a lot of risk involved and the rarity of it happening isn't really worth the risk. My first two months for Rocky I would have nice gains but my loss were also big. Over the course of that first two months I refunded my account three different times $500 so I blew my account three different times! So what I had to do was look at why I was losing when I was losing and how I was losing and that's what a lot of people don't look at I feel like they get the high from the win and it becomes more like a gambling thing. If your thought is to get rich you're probably going to lose a lot of money like I did. But if you look at it from a different perspective like you're running a business you can be profitable. I found when I was looking at all the reasons I was losing was hope hoping something would come back after I was already losing badly. Greed not wanting to take 20% gains when they were on the table based on past trades having 2X or more and the last thing fear fear of missing out. So after I started looking at all these things. Taking in my past experiences from trading and doing a lot of research from a lot of different traders. I started to form a strategy and there are so many different ones out there different ones work for different people I hear but that is the biggest thing that I think you mentioned and what everyone should know is you need a plan you need a strategy. You need to know when to cut your losses and you need to know when to take your gains. So what I did was find 10 stocks that have high volatility that were big brands. Limiting the amount of stocks I trade really helped me really keep up with the 10 I do to have a better memory in knowledge of where it's been and where I think it's going. Then I decided to limit the amount of trades I do in a week to 15 3 a day. This made me a lot more selective and made me pay greater attention to my indicators also it makes it to where I work much less which is nice! Lastly I had to come up with a profit loss ratio I was comfortable with. When I first tried it I didn't know if it would work or not because with this strategy I would still have to win majority of my trades to be profitable but what I did was make my profit margin small. I made my take profit margin at 10% and my lost margin at 20%. I trade options and not stocks so first just let me say if you're going to do that there's much more volatility. That is also the reason why my loss margin is greater than my profit margin. But at least for me I win more trades than I lose. I don't know the exact numbers but I found I could probably lose one trade for every five wins. I think the biggest thing overall though that has made me profitable is limiting my trades and being very selective for big spikes and big dips wow not staying in and having it reverse on me with options if your timing is correctly you can get in and out very fastly. That being said you got to be ready and be quick to put in your sell price either way if you're selling for profit or loss. If the option gains instantly when I buy it I set my 10% sale price and I'm ready to press the button once it passes it I will let it continue to go up when it passes that price but the minute it dips I press the button on the same side if it takes a dip right after I buy it I set my 20% loss sale price and I'm ready to hit it if it starts approaching that price. Since I have implemented this I have had profit every week given that profit does bounce around but what I also do to try to make more profit in the future while also making sure I get money is I cash out 75% of my profit as a paycheck and compound the other 25%. Okay I'm sorry this is extremely long message I'm just still excited to be trading and I guess I wanted to share awesome video welcome all new traders if anyone took the time to read this thank you I appreciate it and I hope it helps you
Hey! Great feedback, you helped a lot! Btw what platform do you trade on? Thanks!
Good read, but I think you could definitely make more by compounding a larger percentage over time. Slow and steady wins the race, aiming for 5-10% profit in a trade is pretty safe, after awhile that gets to be a pretty big number, faster so if you compound more, but i understand that everyone has bills to pay.
250$ is more than I make in a day, but I think that's a fair goal for trading, across three trades that's an average of ~83.30$ each, which would easily be possible within that 10% goal assuming the initial investment is 2,500$. Unfortunately for me, I'm not aiming to trade options, as they're affected by the SECs PDT rule and require a 25,000$ account minimum in the US. I'll be trading futures pretty soon though, and I think I can reasonably make that much every day. May fortune be forever in your favor
I did read it all since i'm new to it , thank you , i'll keep everything hou said in mind
Appreciate you taking the time to share 👍🏻
@@barryallen5507 good luck dude! Hope you make it.
This guy keeps it real, unlike the self-declared gurus who claim to make millions.
Straight to the point, like the first 90minutes (Volume), kudos bruv, that seems simple and direct but it quite important and easy to miss, gurus will take you in circles about that and end up with nothing
Really motivating to see you try and no give up and become better over the years !
Day trading is a job/profession. You also can't expect to play in FIFA your first attempt at soccer (even if you accidentally shot a perfect goal from across the field your first time kicking a ball)
yeah, kinda like i said!
@@DanielInskeep thank you im scared to get started in this field!
Absolutely. Thankfully, you can swing trade options for some high stress but good returns. With due diligence. Great video.
From the honesty alone I’m willing to pay for the knowledge that he can offer, No other RUclipsrs so far convince me more than this guy
I like your channel, @Daniel Inskeep, and you are humble and straightforward. You seem bright and enterprising, so I offer you this advice on your journey to building wealth: don't trade. Invest. While it is not as fun, buying quality companies with a unique competitive advantage and holding (until the story changes) is going to net you far better results over time. Buying at a reasonable valuation helps. Remember, buying a good company at a bad price, which day trading can be, is nearly the same as buying a bad company. If you can't manage this, you are probably better suited for owning indices. you will still build wealth with the power of compounding interest
Dude I hope you always stay this mellow love your channel man!
it's the only way i know
One of the best videos on this topic I have seen. I hope you are ok with us featuring you on our website 😎
At first every day trader is like "ya this is easy money" and then 6 months later all their money either stuck or 50% lost
You only lose if you leverage, you can shed 50% but when market gets back and you have your money back
@@panic_seller that's the wrong attitude to have. Paper losses are real losses.
bro are u spying on me😂😂
Of all the information out there Daniel, your videos have given me what I really need. Info and sound advice without the hoopla.
My experience is that it takes a couple years to become proficient. Further, you need to spend more than a few hours doing it. You must work very hard. I have recently just recently put 6 positive weeks in a row. I have been at it for a couple years and I have lost money. BUT I wanted to try it because I enjoy it very much. I wouldn't buy a course but I would read books. I am trying to do 6 months positive. I have made many mistakes but I think I am learning. My losses are much smaller and my wins are getting larger. My percentage is around 61 percent and has moved up 8 percent from when I first started.
Daniel thanks alot, this honest option is really missed from most youtube channels
I‘ve been looking for genuine no bs based on personal experience content. Great stuff
Hey man. Stay honest. Honesty might not bring you as many viewers. But the viewers you get will be loyal. another great video that new traders can understand👍
You listed out every single challenges a novice trader facing to get comfortable with the trading, good content here is my sub.
i realy liked the fact that you presented the information(very well) and at the end of the video said about like and subscribe.
I subscribed and liked just for that.Keep up the good work!
I'm kinda happy that you post these videos and preach a good trading philosophy. My first passion was and is photography but since I discovered it, trading's become my biggest passion! Still on the learning path, no doubt in my mind that we can be the top 1-5% ;)
This is a great video. Not to deter people from what they want to do…just to keep their feet on the ground while they do what they want to do.
As this would more than likely; push the vast majority away, but I, suddenly felt more confident after seeing this video! Thank you!
The financial markets seem to be suffering more than the real economy from the prospect of further Fed tightening, I seriously need suggestions on how to diversify my $500k portfolio made up of volatile TSLA.
The market is volatile at this time, hence I will suggest you get yourself a financial advisor that can provide you with entry and exit points on the stocks you focus on
Follow the tr
Yet another great video; I especially liked the "Consistency" chapter where Daniel shows a trading month which didn't go well for him in terms of profit, this "ugly truth" one seldom see in videos from other traders - thank you Daniel for being so f..king honest...
Great video! Def agree that it's not a "get rich quick" field, there is a lot to be learned and too many people get in without a strategy and emotions hit too hard. Love the videos!
Love it! Please keep up the amazing work you’re doing! Best of luck!
As always I really appreciate your honesty with your videos!
Probably the most correct an informative vid about trading I seen on RUclips...
I love the american football sweater. I lived there for a year in college and its still always cool to see my old place on people's clothes
haha that’s awesome!
9:20 point 3 i would disagree, real money can really sway your decision making:) I would skip and start with small cash account if I would start over
yeah, that’s fair too
How did you blow this channel up so fast!? Crazy !! Love the content 🙏🏿
cus he’s dope!
Great advice. No one gives you all the facts as well as you do. Most people make it sound easy. Good to know most traders fail and this is extremely complicated and time consuming just like any hard job. Thank you.
Daniel, you won a subscriber. Amazing video on the real insight of daytrading.
You earned a subscriber! 👍🏻
I think the single most important thing in trading is being able to read the charts, the 2nd which really really helps with the chart reading and probably predicting what might happen is doing your due diligence, 3rd is well knowing when to take a loss or profit.
Great video. You said and presented things the way it is in real .Your advices are rewards than who just won a trade .Thks
Love all the videos can't wait for what's to come
Bro, I really appreciate your wholesome videos. Keep at it, my boy!
Working on my paper trades right now and really learning from my losses. I learned that crazy price increase(due to me not closing before end of day on a Thursday) IV crush and time loss ate a huge margin and basically sold put option at 99% loss.
Keep posting great content.
Great videos, Daniel! I'm just starting out here, you've given some really great pointers. Thank you! I think anyone can benefit from watching your content.
Very good vid earned my sun
Day trading is getting tougher , the algos are doing pretty shady stuff out there. Some people have an edge and beat the funds , rare cases
Those are some very interesting statistics. But yeah as you said 80% of restaurants fail in 5 years. Any endeavor that pays a lot of money will be extremely hard to master.
wut the hell! I’ve seen your videos before and I thought you’re just starting. This was 2 yrs agoooo :o I’m starting to love this channel
man i love your videos you come across so real and honest keep up the good work :)
This is such a great video, the points raised and the editing is top tier🙏
There's a lot I intend on learning from this channel as I would like to pursue the same route this year🙏
I consider this video as very useful with maybe obvious advices numerous times said but it's better to remind them over and over. The the hardest thing I meet during the trading is keep the emotions under control.
Good video. I've done a bit of swing trading. Similar but not day trading. Honestly I would not recommend it and I was quite profitable. It is much easier to analyze companies and focus on the fundemtals. If you can find undervalued companies you will always make a profit. If you day trade or swing trade what worked for me it first finding 5-10 companies and then analyze the patterns for a week or longer. You will pick up on stuff. Learn all of the patterns in day trading. I would recommend getting software such as trading view if swing trading. Good luck.
Excellent video. I've been day trading for 5 years and couldn't have said it better myself. You definitely did people a service with this video
Great video. You went over so many good points. More people should see this video for sure.
really good content thanks this vid helped me alot! :)
Taking your emotions out of it really is key. I do some very basic day trading, not as a source of income now, but the markets gain about 7% per year, knowing that, I had to do better than that, or I might as well throw my money in the Nasdaq and be done with it. That comes out to to .6% a month. I shoot for double that, can I make over 1% a month? Sure this doesn't have the big money appeal that day traders go for, but if you can beat the markets you are a head of the game. I make a few small moves each week. Since I last revamped my strategy I have a 87% success rate of picking them right. These aren't big money moves, but it's a slow and steady approach, and it works for me.
Good for you,keep it going brother !
Started at the beginning of the year with my friend's Discord group. It's been more of a learning process this whole time. I'm only up about $400 on the year. But I see it as a slow burn. The knowledge and experience I've gained is so valuable. Despite the small gain.
hows it gone so far ??
@@FuryZilla it’s going okay! Lost a lot of gains I made on the $CLOV squeeze. Decided to play it more long term investing.
that brazilian study has a big flaw, it was made on the 2 most common indexes (mini dollar and mini ibov index)
2 extreme manipulated markets that can only be traded using leverage, thats not the case with spot trading
Thank you Daniel for sharing your straight forward and truthful experience.
I’ve had really good luck!
Just like anything else in life everything is about luck plus some sense in what you’re doing.
Thanks for your videos and your honesty
This was great. Thanks for making videos like this.
So glad I came across this video. Information was very well presented and I watched it all in one sitting. Liked and subbed!
Looking forward to hearing more about your futures experiment. I’m only a couple months deep but they feel like the ideal instrument for day trading and scalping.
Daniel, thank you for your insightful presentation. Your objectivity and knowledge are great.
Everything you mentioned is what I'm personally experiencing and going through. Thanks for the "Keeping It Real" info. Cheers!:)
Thank you for sharing your knowledge and being so transparent. It’s really awesome when you run into someone that’s willing to share valuable information in a very accessible manner like a RUclips video! God bless and keep going!
My two cents for the newbies, I have been a prop trader for 8 years
Have a pre-market routine regarding the market and stocks, levels , size it makes sense to enter, expected volatility
Don’t make hunch or boredom trades, learn how to handle drawdowns( don’t try to recover fast, even if its painful)
Manage your daily risk into number of trades, don’t try to hit homeruns( unless its just keeps going in your direction but don’t force them) singles can take a long way.
Always know where your stop is before entering a trade, don’t have too much bias ( the market can do the most unexpectes thing and you can blow your account)
This works for me, cheers
Thank you,all the best!
Alternative safe "day trading": selling covered calls and the like on diverse, broad market and high volume ETFs, like SPY. Very high probability of success.
Sure if you have over $400k to make a few hundred a week.
@@gsxrrider7643 More like 15-30% annually if you sell twice weekly. You also need a substantial cash outlay for day trading to handle down days and eke out enough profit from slim margins overall. Also stats say about 99% of day traders lose money. Selling CCs is almost the inverse, if you do it on something like SPY.
you didn't talk about futures! I watched your video from a few months ago - signed up for a paper account and been paper trading daily on the QQQ - LOVE IT
oh wait...you did..haha kinda
Subscribed. Enjoying your journey guy
Gotta have a day job that covers the bills, and the losses. I trade 6 am - 10:00 am CST. I work 11:00 am - 7:00 pm. Life is better having that balance.
Yeah i was thinking of trading super early morning before school/work
Going full tilt from emotions is so BAD! Thanks for the great video!
keep trading u inspire me
My experience with trading is the opposite of most people. I initially lost 1/6 of my account on the first day and then slowly over the next 3 months I turned a 85% profit from the low
Or a 60% net profit.
Now I’m taking a break from trading to study stats, macro economic, and price patterns. Plan to get back in soon. Mostly doing forex, and I have a leverage of 500:1.
Accounts in USA suck for leverage.
You just got a new sub thanks to your demeanor and honesty. Thanks man. Stay dope ✌
👆👆👆👆👆👆👆👆👆👆I have never regretted investing with this group they are just the best and trustworthy. I invested 3 Bitcoin with this group and I got 5 BTC now within two weeks of trade they are the best
Hard pill to swallow. 90% of ya'll here for get rich quick. I'ma tell ya how to approach it correctly. Day trading is a flavor you haven't tasted yet or maybe fully tasted. See if you like it otherwise move on. Don't burn yourself out in something you don't really enjoy.
Hi Daniel! I really like your outlook and realistic approach to trading! I find it refreshing that you can admit to your losses as part of your journey as you’ve made incredible progress! It’s so inspiring. As a new trader, lots of points you’ve made resonated w me. And we start out w over confidence when we are new but soon the market wakes us up and lets us know that we are not always right! Only thru our mistakes do we learn and grow. Overcoming greed and fear is key. Being disciplined takes time as our habits are an extension of our personality and we need to train ourselves. Anyway, glad to have found your videos.