What are my rules when they treating in? What did I change in my system to become consistently profitable and we talked about it so stay tuned? If you guys are nutritional – and you haven’t already hit that subscribe and help me help you if you’re a longtime subscriber thanks for watching.
So I want to talk about today what rules I’m using and what I’ve changed in the last 3 to 4 months. Out of helps me become more profitable work in the more consistently profit.
How did I become consistently profitable? In what rules do I use every single day? Some of those rules to talk about in this video on is to not be greedy about this. All the time bears and Bulls make money in the stock market, but pigs get slaughtered.
That’S a very soon idea. If a stock is going up, it’s going up up up up up is going higher and higher. There’S a point where it’s like.
Okay, this is insane. This is all that this is nothing but greedy.
Now, there’s a big chance of socks in a crash, and I don’t want to be the last guy here, holding the bag, so I’m going to take profit when I got it.
If I go into a trade, if I get a 40 50 Cent jump in a stock, co-star find some resistance. I’M going to take the number one rule really is to keep your greed in check.
It’S very very easy to get overly greedy too on a big win to get into a trade and say: hey, I’m going to take profit when it goes up. A dollar and a stock goes up $ 0. 80 and you’re like what horse sense at all.
The sudden starts crashing, you have seconds, only 2nd, sometimes a stock goes up and you only have a split-second to take profit, and sometimes you might be $ 1,000 and all the sudden drops and you only up a hundred bucks and now you’re like well. I was up $ 1,000, so keep holding it in for you, it’s going down down down. You really just cannot be greeting your day, trying to get a set.
Your goals go into the day with the you listed go. If you have a $ 10,000 account be happy with making $ 200 a date. It really it’s so simple.
Another rule that focus on right now is figuring out. When is good to trade, for you. Are you better at reading early in the morning pre-market right before when I open? Are you better trading intraday? Are you better trading at the end of the day, do you find that you’re better at finding the overall trend was attacked setup or are you better at buying the dip? Are you better at buying the breakout, find that strategy and focus on it? If you find that you don’t in the morning X, you get into a tray, doesn’t work out and you cut your loss and then later on, it goes higher going to figure out what’s going on there and focus on that.
If you’re, not good luck with those fast mover stay away from find different situations, different set-ups that work best for you, every different Trader is going to have their own strategy, but different people, trade different ways. I know people were really good at trading kind of the call Entergy Trend. I know guys were really really good at reading that open Spike, I know guys were really good at training.
They close just kind of figured out, there’s no right or wrong way to do it as long as you’re profitable. That’S really what it’s about when your day tree! My third rule, this kind of goes back a number one, but nothing if it’s too good to be true. It normally is it a stock is up a thousand percent.
I don’t think that’s going to go up, 2,000 % stay away from stocks or just too crazy. I know it’s easy like well.
The stocks going up throwing up, I can jump in our you, take proper, really quickly and get out, but the problem is, you might get in right before crashing Uber coming. If you can’t get in early enough – and it comes out of the idea that you’re chasing if you’re chasing a stock, if you feel like you’re chasing, you already ran up to much, it probably has so just stay away from it.
It’S better to stay away to play safe and I think if you look at the bigger you’re looking at the overall picture when your day trading into looking at the yearly plan at the end of the year when you’re up you know a hundred percent in York And you made a ton of money you’re not going to look back at those stocks that were up a thousand percent that you didn’t trade. You don’t look at that game. Like wow, I had a really good year.
I grew my thousand-dollar account to $ 20,000 and I had a good year. How do you know consistently green days? That’S really what it’s all about was too good to be true stay away from it. I really been focusing on that.
If I see it, it’s going crazy number for if it doesn’t work out, cut your loss if you get into a tree and you’re like hey.
This is my plan right here at 280, and I want this to go to $ 2 and if you get into it and it short at 2 ET, it starts to go up. It’S $ 3. I need to get out just cut your losses.
Do not for straight if you’re in a trade in your plan is to short at 280, and you wanted to go to it doesn’t work out. It’S $ 3 323-4350.
You had to cut your loss, get out of the trade. The worst thing that could happen is if it goes higher and higher your loss, you’re stubborn and you force yourself to cover $ 1,000 higher as it’s not a good idea. The best thing to do really is your loss.
If it starts to come back and starts to turn the other way towards the way that you wanted to then short again, but the last thing that I want to do is get trade-in, be stubborn in faucet and end up losing a ton of money, because I Can’T accept that I was wrong. That’S really the one thing. I think that we are dating for the chance.
You can be wrong, even if your hundred percent sure that a stock has bad news. It sucks going to crash there still at I’ve, seen stocks a really bad news that everybody says it’s going to crash in the next day and goes higher and higher, so not trying to force the trades if it goes against.
You just cut your losses and move on through right.
Now that I’m really focusing on is not over.
I know I do it. I see the video sometimes a live streams. You guys call me out for it, but I’ve been trying to work more and more on it really just kind of fool on that.
First, 30 minutes of the day taking profit. When I got it and not over trading, I find myself really racking up commissions.
Go crazy trading, / trading, making 20-30 trades in a day, and I’m like what did I just do and I look back at it like. That was a really bad idea to take a problem I had this morning. If I’m up $ 200, I just need to be done, let it be, and it’s not going to work out, it’s not going to work out normally might best days.
What are the best days of ever have are.
The days were just like to easy, where I just buy a stocking is higher and higher, and I make $ 1,000 $ 500 in that first 30 minutes normally are the days where I try to force it where I try to trade all day. Long right make multiple multiple trades back-to-back-to-back and hardly have a real plan. So if it doesn’t work out just walk away and just focus on that, but really it’s important to not be greedy and not try to force trades to not over trade and just kind of focusing on those small games.
Ever if you watch my videos trading, the dolls no account and see how I grew the thousand-dollar count from $ 1,000 to $ 3,500 in the last 2 weeks. If you watch those videos, I’m just taking profit, and you know I’m a hundred bucks take profit.
I make a hundred bucks every single day grow that grows really fast.
So don’t you don’t need to hit home runs all the time you don’t need to make $ 1000000 in your first of your day. Treating you just need to be consistently profitable in overtime, grow and grow and grow and calm down before you know: you’ll have a million dollars, but just takes time you got to get there first, you got to go the long. The long way.
It’S not always right to it, and on that note I hope you guys enjoy the video.
If you haven’t already hit that subscribe button help me help you every new subscriber puts another penny in my pocket. Thanks for that guys talk to you later,.
Day Trading RULES I FOLLOW!
Day Trading rules I follow every single day. I’ve been working on constantly following these rules to help me become a consistently profitable trader. You wont see me making huge returns fast but you’ll see me consistently growing my account. If follow these simple rules when Day Trading in the Stock Market you can profitable as well! Greed will always be your worst enemy! You have to be able to control your emotions and follow these rules!
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