TOP 3 Deadly MISTAKES Day Trading Beginners Make

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0:00 Intro- Newbie buying and selling errors
0:52 Shares solely go to the moon
5:40 Getting wealthy fast in day buying and selling
8:27 Secret buying and selling technique?

Are you a newbie day dealer and making these DEADLY errors?
1. Believing shares can solely go up… to the moon!
With all the brand new cash provide within the type of stimulus checks within the US everybody has began throwing cash out there once more. For newbie day merchants, this may very well be a particularly harmful state of affairs. There may be nothing unsuitable with buying and selling momentum shares on the best way up. However perceive what goes up should come down ultimately.

2. Day buying and selling as a get wealthy fast scheme.
More often than not newbie day merchants observe alerts to purchase or promote with out studying the right course of to study day buying and selling or threat administration. This creates followers. And when the inventory goes in opposition to them, they panic and so they market order out for a giant loss.

3. On the lookout for the right day buying and selling technique.
Most newbie new merchants are at all times making an attempt all kinds of buying and selling methods. The second they lose some cash in a single, they suppose it is the technique that is not working. The reality is that it isn’t simply the technique that determines whether or not a brand new dealer is profitable or not, crucial half is threat administration.

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DISCLAIMER: I’m not a monetary adviser nor a CPA. These movies are for instructional and leisure functions solely. Investing of any type includes threat. Whereas it’s attainable to attenuate threat, your investments are solely your accountability. It’s crucial that you simply conduct your personal analysis. I’m merely sharing my opinion with no assure of beneficial properties or losses on investments.

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  1. I will say that Tim Sykes chat room helped me a TON when I was a new trader in 2014.

    It was expensive, but the insight I gained from the veteran members (not even from Tim himself) was very valuable.

    I haven't paid for his service in 7-8 years, but some times it is beneficial to pay for advice. At the same time it is risky because of all the snake oil salesmen.

  2. Been guilty of all. And when I know a stock must go up, it goes massively against me and I take a giant loses I didn’t need to without rush management you have nothing.

  3. Thanks for helping the new retailers, i should have listened to your advice, instead of rush trading with emotion and completely blow out my account.

  4. nice simple and truthful video….likeble personality…please keep posting content I suspect you help many people with your videos…certainly I benefit a lot from what you say. BTW I am guilty too and I hope will improve with the help of your videos and more work
    thank you . Emiliano

  5. One day I made like 20 market trades in a row, stopping out with simple stop loss' (basically a market sell) and lost 90% of my money in losses and commissions. Duh. Risk management and a trading plan are key.

  6. Very true…I got rekt with Disney stock… didn't set a stop loss and now I am > 25% loss, I went all in at $185…and I didn't diversify, I put all my money on that stock…I wanted to make a Swing trade, didn't want fast money, I waited 7 months for this loss…

  7. Risk management! You have one job as a trader and it's to avoid losing your account! No account, no trading. You can do everything else right but mismanage equity and it's for naught. Get risk under control and maybe, maybe then an account will grow.

  8. A few addons to this video.

    1. The reason why no strategy work all the time is because there's a certain degree of randomness in the market. This means, even if your theoretical win rate is 90%, in the short term you could have 3 enormous losses in a row–and with a 90% win rate, I assume that's a brutal 10% when it does happen. Hence doing everything 'right' doesn't mean you make money in the short term.
    2. Risk management means not moving your stop loss if you start freaking out that the trade is going badly or moving your profit target if you feel the price might not make it. You're not really risking 'x' dollars if you're moving your stop loss all the time.
    3. Why day trading is hard and takes so much time is because you need to learn to manage your emotions. This requires an enormous amount of skill, as much skill as becoming a senior software engineer for example. You need to go slowly, make a ton of mistakes, and make small gains day after day.
    4. You're going to be attack for this by family and friends. There's a lot of hypocrisy cause at least with day trading, you're trying to apply a strategy and logic to what you do in the market. Whereas they might put a bunch of money in AAPL cause of a 'feeling' and not call it gambling. With day trading, you make money the same way any other business does. If the market does what you want, you need to take advantage of it as much as possible. If it doesn't, you need to minimize losses. For ex, even the best real estate agent can't make money if the real estate market tanks.

  9. Your the best day trader on Youtube, and your videos are very helpful. I'm just
    starting to dabble in day trading, and trying to improve my "win percentages" and
    you need knowledge to do that, and you supply that. I also watched your video you
    did a while back on using the Finviz scanner to find good trade setups, which was
    excellent, and I think Finviz is as good as any of the fancy ones, and at no cost,

    What I'm starting to see is that many of these stocks "gap up" a lot in the Pre Market
    trading, so I need to have Pre Market trading ability on my platform, which I don't
    have right now. I have to get that soon.

    I don't know if any of your Videos cover Pre Market trading conditions, and how to
    deal with them, and what kind of traders are involved with this, but if you have a
    Video like that, I'd sure like to see it, as I believe a lot of the money is made in the
    Pre Market trading. Excellent videos you make, and I'm sure you win most trades.

  10. You really make me laugh, Girl. I am really enjoying watching your videos. I love learning great wisdom while getting a great laugh at the same time. Keep up the great work. Bless you.

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