Ultimate Day Trading Strategy Guide 📚🍏for Beginners (Working in 2024!)

Summary

罗斯·卡梅伦在这段视频课程中介绍了他的八周日内交易课程。他强调了日内交易者如何利用市场波动性获利，并指出交易最活跃的时段是开盘后的头一个小时内。卡梅伦分享了他专注于开盘交易的策略，如何寻找低风险入场点，并强调了风险管理和纪律性的重要性。他还讨论了为何许多交易者失败，以及如何通过练习和持续学习来提高交易技能。此外，卡梅伦提到了交易者如何通过扫描市场、关注新闻和股票图表模式来寻找交易机会，以及如何避免在市场波动性较低的时段进行交易。

Takeaways

• 📈 交易课程强调了股票交易的基础知识，包括如何在市场波动中获利。
• 🕗 市场在开盘时最为波动，尤其是早上9:30到10:30之间，为交易者提供了最佳交易机会。
• 💡 交易者应专注于寻找流动性好、交易量大的股票，以便于进出市场。
• 🎯 交易者应设定明确的每日盈利目标，并在达到目标后减少交易，以降低风险。
• 📊 风险管理是交易中最重要的概念，交易者应始终寻找低风险进入点，并保持风险与回报的比例合理。
• 📉 识别和利用市场模式是交易成功的关键，交易者应专注于易于识别的模式，如旗形或楔形突破。
• 🤔 新手交易者需要学会区分不同交易设置的潜力，并随着经验的积累提高识别高潜力交易的能力。
• 📊 交易者应使用图表和模式来形成对股票的一般态度，例如通过阅读蜡烛图来理解市场情绪。
• 🚫 大多数交易者失败的原因是缺乏纪律和快速决策的能力，在压力下保持冷静和遵守交易规则至关重要。
• 🔍 成功的交易者需要持续学习和适应市场变化，永远不应自满或停止提升自己的技能和纪律。
• 📝 交易者应记录和分析自己的交易，以了解自己的交易模式和改进策略。

Q & A

什么是日内交易，它如何运作？

日内交易是一种交易策略，交易者在同一交易日内买入并卖出股票，不持有股票过夜。它依赖于市场的波动性来获利，交易者寻找那些快速上涨或下跌的股票，并尝试以可预测的方式进行交易。

为什么市场在开盘时最为动荡？

市场在开盘时最为动荡，因为这是交易量最大的时段，通常是早上9:30到10:30。高交易量提供了流动性，意味着有很多买家和卖家，使得交易者可以容易地进出交易。

日内交易者如何最小化风险？

日内交易者通过寻找低风险入场点来最小化风险，这涉及到找到良好的交易设置，即潜在收益远大于潜在损失的交易机会。

为什么大多数交易者会失败？

大多数交易者失败是因为他们无法快速做出决策并且缺乏纪律性。日内交易需要在压力下进行多任务处理，保持冷静，并始终遵循交易策略和风险管理规则。

什么是交易中的‘好设置’？

‘好设置’是指一个交易机会，它允许交易者以尽可能少的风险进入交易。例如，可能涉及冒着$100的风险去赚取$300的潜在收益，这是一个3:1的利润损失比率。

交易者如何找到交易机会？

交易者通过扫描市场来找到设置良好的股票。这涉及到使用股票扫描器和关注市场新闻、收益发布或其他可能引发股票大幅波动的催化剂。

为什么交易者需要专注于股票模式？

专注于股票模式是因为模式可以提供市场参与者的共同关注点，这些模式包括旗形、楔形等，它们在具有高交易量的热门股票上特别有效。

什么是蜡烛图，它如何帮助交易者？

蜡烛图是一种股票图表，显示特定时间段内的股票价格变动。它通过比较开盘价和收盘价，以及最高价和最低价，帮助交易者理解市场情绪和趋势。

交易者如何使用蜡烛图进行交易决策？

交易者通过识别蜡烛图上的模式，如大阳线通常表示看涨，而大阴线表示看跌。此外，特定的蜡烛图模式，如旗形或楔形，可以提供关于市场可能的转折点的线索。

为什么交易者需要避免在交易中结合基本面分析？

结合基本面分析可能会导致交易者在面对图表上的不利信号时，仍然因为对公司基本面的看好而持有不利的交易，这可能会增加损失的风险。专注于技术分析可以让交易者更客观地根据市场行为做出决策。

日内交易者如何管理风险？

日内交易者通过设置止损点来管理风险，这意味着他们有一个明确的退出点，当市场走势不符合预期时，他们会选择退出交易以限制损失。

为什么交易者需要跟踪他们的交易？

跟踪交易可以帮助交易者了解自己的交易习惯和策略的有效性，通过分析交易数据，交易者可以发现哪些策略最有效，并据此调整自己的交易方法。

Outlines

00:00

📈 课程介绍与日内交易基础

Ross Cameron 开场介绍日内交易课程的第一节课，解释了日内交易的基本概念。讲述了作为日内交易者需要寻找市场波动性，以及早盘交易的优势。强调了交易者需在市场波动性大、交易量高的时候交易以确保流动性。此外，Ross 分享了他每天早盘交易的策略，即在市场开盘后的前一小时内进行交易，以较少的交易次数达成日目标。

05:01

🤔 如何做出快速且理性的交易决策

本段探讨了交易者在进行快速决策时所需的多任务处理能力和纪律性。Ross 强调了在面对市场突发消息时，交易者需要迅速判断并采取行动，同时确保决策符合其交易策略和风险容忍度。他还分享了个人经验，描述了在交易中超出舒适区的风险和后果，提醒交易者要保持冷静并注意自身情绪状态。

10:04

💪 交易中的技能与纪律

本段讨论了交易中的技能和纪律的重要性。Ross 强调，技能是通过长期的实践和学习获得的，而纪律需要不断地培养和锻炼。他指出，尽管掌握了交易技能，但保持纪律仍然是交易成功的关键。此外，他强调，交易者应不断学习和适应市场变化，避免自满和过度自信。

15:06

📊 如何寻找交易机会

本段详细介绍了寻找交易机会的方法。Ross 讲述了扫描市场以找到有利交易设置的过程，并解释了为何关注质量而非数量的重要性。他分享了他通过观察市场波动和新闻催化剂寻找交易机会的策略，并强调了耐心等待最佳交易机会的重要性。

20:08

🚀 图表模式与交易设置

Ross 详细讲解了常见的图表模式如旗形和阶梯模式，强调了这些模式在高交易量股票中的有效性。他分享了自己的交易策略，即只交易第一和第二次回调，并强调了图表模式在市场中被广泛关注的重要性。

25:09

🔍 零售交易者与机构交易者

Ross 讨论了零售交易者与机构交易者之间的差异，并建议零售交易者关注市场中零售交易者集中的股票。他解释了如何利用市场上的新闻和社交媒体来找到当日最热门的交易机会，并强调了与其他交易者交流的重要性。

30:11

🔧 日内交易所需工具与平台

本段介绍了日内交易所需的工具和平台。Ross 推荐了几款关键工具，如图表软件 eSignal、经纪商 SpeedTrader、股票扫描工具 Trade Ideas 以及新闻服务 Benzinga Pro。他强调了这些工具对快速执行交易和发现交易机会的帮助，并提醒交易者学习如何使用这些工具。

35:12

💡 日内交易策略与风险管理

Ross 强调了交易策略和风险管理在日内交易中的重要性。他指出，每个交易者需要有一个经过验证的交易策略，并根据市场条件调整风险。他分享了自己的交易策略，并建议新手交易者在证明某个策略有效之前，不要进行实际资金交易。此外，他强调了保持耐心和管理风险的重要性。

40:13

📝 交易记录与绩效追踪

本段建议交易者记录和分析自己的交易，以了解其绩效和改进交易策略。Ross 分享了他早期记录交易的经历，并强调了跟踪交易数据以识别成功和失败模式的重要性。他鼓励学生开始记录他们的交易，并向他汇报他们的发现。

Keywords

💡日内交易

日内交易是指在同一交易日内买入并卖出证券的交易策略，目的是为了利用市场的波动性来获取利润。视频中提到，日内交易者通过寻找快速上涨或下跌的股票来进行交易，并且强调了在市场开盘的前一两个小时内，由于交易量最大，因此市场波动性也最大，为日内交易提供了良好的机会。

💡波动性

波动性是指股票价格变动的幅度和速度，日内交易者通过市场波动性来获利。在视频中，Ross Cameron强调了日内交易者需要找到那些能够快速移动的股票，因为市场的平静期并不适合日内交易，只有在波动性大的时候，日内交易者才能通过买卖差价来获得利润。

💡流动性

流动性是指资产能够快速且以合理价格买卖的能力。在视频中，提到了高交易量提供了良好的流动性，这意味着买卖双方都很活跃，交易者可以轻松进出交易。相反，在交易量低的时段，流动性差，这使得大额交易变得更加困难。

💡风险管理

风险管理是交易中用于控制和减少潜在损失的策略和方法。视频中强调了风险管理的重要性，提到了如何通过设置止损点和风险收益比来最小化风险。例如，一个好的交易设置可能会冒着$100的风险去赚取$300的利润，这就是一个3:1的利润损失比率。

💡交易策略

交易策略是指交易者用来指导其买卖决策的一套规则或方法。视频中提到了多种交易策略，如寻找低风险入场点、利用市场开盘时的高波动性进行交易等。交易策略对于交易者来说至关重要，它帮助交易者在复杂多变的市场中保持一致性和纪律性。

💡模式识别

模式识别是指在股票价格图表中识别出特定的图形或模式，这些模式可能预示着未来价格的变动。在视频中，Ross Cameron提到了他专注于图表模式，特别是那些简单且被广泛认可的模式，如突破阻力或跌破支撑，因为这些模式通常会引起大量交易者的注意和反应。

💡突破交易

突破交易是一种交易策略，它涉及在股票价格突破某一关键阻力位时买入股票。视频中提到，突破交易者喜欢在股票显示出强劲的上涨势头时进行交易，而不是在股票处于盘整阶段时买入。这种策略的关键在于迅速行动，在确认突破发生后立即进入市场。

💡反转交易

反转交易是指在股票价格达到某一低点后预期将会反弹，从而买入股票的策略。与突破交易不同，反转交易者等待股票显示出下跌势头减弱的迹象，然后寻找买入机会。视频中提到，反转交易需要明确的反转信号，例如股票价格开始创造新高，表明下跌趋势可能即将结束。

💡股票扫描器

股票扫描器是一种工具，用于筛选和识别市场中可能存在交易机会的股票。在视频中，提到了使用股票扫描器来找到具有高交易量或特定技术模式的股票。扫描器帮助交易者缩小关注范围，专注于那些最有可能产生交易机会的股票。

💡新闻驱动交易

新闻驱动交易是指利用市场对新闻事件的反应来进行交易的策略。视频中提到，交易者会关注那些因新闻事件而产生大幅波动的股票，如公司财报发布、重大公告等。这种策略要求交易者能够快速反应，并在新闻事件影响下做出交易决策。

💡交易纪律

交易纪律是指交易者在交易过程中遵循既定规则和策略的能力。在视频中，强调了即使在面对市场压力和快速变化的情况下，交易者也需要保持冷静和遵守交易计划。缺乏纪律可能导致冲动交易和过度交易，从而增加损失的风险。

💡交易心理学

交易心理学涉及交易者在交易过程中的情绪和心理状态，以及这些因素如何影响交易决策。视频中提到，交易者需要了解自己的情绪状态，保持专注和冷静，即使在连续亏损的情况下也能维持交易纪律。良好的交易心理学有助于交易者避免在压力下做出错误的决策。

💡滑点

滑点是指交易者下单的价格与实际成交价格之间的差异。在视频中提到，滑点是市场交易中不可避免的一部分，尤其是在交易量较低或市场波动性较高时。滑点可能导致交易者在执行交易时损失额外的成本，特别是在频繁交易的情况下，滑点的累积效应可能会显著增加交易成本。

💡交易量

交易量是指在一定时间内买卖某只股票的总股数。视频中提到，交易量是日内交易者寻找交易机会的关键因素之一。高交易量通常意味着股票具有更高的流动性和波动性，为日内交易者提供了更多的交易机会。同时，交易量也是判断股票是否受到市场广泛关注的一个重要指标。

💡股票图表

股票图表是展示股票价格随时间变化的图形，通常包括开盘价、最高价、最低价和收盘价。在视频中，提到了蜡烛图这种图表类型，它通过不同的线条组合来表示股票在特定时间段内的价格变动情况。读懂和分析股票图表对于日内交易者来说是至关重要的，因为它们可以帮助交易者识别市场趋势和潜在的交易机会。

💡交易计划

交易计划是交易者在进入市场前制定的一系列规则和策略，包括入场点、止损点和目标利润等。视频中强调了制定交易计划的重要性，它有助于交易者在市场波动时保持冷静和有条不紊。一个好的交易计划可以减少冲动交易，提高交易的成功率。

💡交易执行

交易执行是指交易者根据其交易计划快速且准确地进入或退出交易的能力。视频中提到了快速执行的重要性，特别是在市场快速波动时，能够迅速下单对于抓住交易机会和避免损失至关重要。使用具有快速执行功能的交易平台和工具，如热键操作，可以帮助交易者提高交易执行的效率。

💡杠杆

杠杆是指使用借来的资金进行交易的能力，它可以放大交易者的盈利潜力，同时也会放大亏损风险。在视频中提到，一些券商为交易者提供高达4倍的杠杆，这意味着如果交易者账户中有$30,000，他们可以交易高达$120,000的股票。然而，使用杠杆需要交易者非常谨慎和负责，因为不恰当的使用可能导致重大损失。

💡交易者类型

交易者类型是指根据交易风格和时间框架对交易者进行分类的方式。在视频中提到了几种类型的交易者，包括日内交易者、摇摆交易者、日线交易者和周线交易者。每种类型的交易者都有其特定的交易策略和时间框架，例如日内交易者专注于在一天内的交易，而周线交易者可能关注更长期的市场趋势。

💡市场宏观趋势

市场宏观趋势是指整体市场在较长时间内的价格走势，如上升、下降或横盘整理。视频中提到，交易者可以通过观察市场指数的宏观通道来识别市场的整体趋势，并据此调整自己的交易策略。例如，在市场处于宏观通道的顶部或底部时，可能会出现更多的价格波动和不确定性。

💡交易工具

交易工具是指交易者用来辅助交易决策和执行的各种软件、平台和服务。在视频中提到了一些具体的交易工具，如eSignal用于图表分析，Trade Ideas用于股票扫描，以及Benzinga Pro用于获取实时新闻。这些工具可以帮助交易者更有效地识别交易机会、监控市场动态和执行交易。

💡交易教育

交易教育是指提供给交易者的知识和技能培训，帮助他们更好地理解市场、制定交易策略和提高交易技能。视频中提到了Warrior Trading提供的交易课程，这些课程旨在教育交易者如何使用交易工具、分析市场趋势、制定交易计划以及如何进行风险管理。通过交易教育，交易者可以建立起自己的交易策略，并在市场中实现长期的成功。

Highlights

课程由Ross Cameron主讲，为期八周，专注于日内交易基础和进阶策略。

日内交易者寻求市场波动性，利用快速且相对可预测的股票价格移动来获利。

市场在开盘时最为动荡，尤其是上午9:30至10:30之间，为日内交易者提供了最佳交易机会。

交易者应专注于开盘时的交易，因为此时市场流动性最好，便于进出交易。

日内交易者应避免在缺乏流动性的市场中交易大额股票，以减少滑点和交易成本。

寻找低风险入场点是交易的关键，良好的交易设置意味着潜在收益远大于风险。

交易者应避免负风险收益比的交易，始终寻找具有高收益潜力的低风险交易机会。

日内交易需要快速决策和纪律，对新闻事件的即时反应需要结合交易策略和风险管理。

交易者应保持情绪稳定，即使在连续亏损的情况下也要维持交易纪律。

技能和纪律需要持续锻炼，即使成为熟练交易者也不能停止学习和提升。

风险管理是交易中最重要的概念，交易者需要全天管理风险以做出良好决策。

找到交易机会对于新交易者来说是一个挑战，需要学会扫描市场和识别股票的交易设置。

交易者应专注于质量而非数量，耐心等待值得交易的机会，避免过度交易。

Ross Cameron采用基于图表模式的交易策略，关注蜡烛图和股票符号，而非公司基本面。

交易者应识别并专注于那些零售交易量高、能够抵抗算法交易的股票。

蜡烛图模式，如旗帜形态和楼梯步形态，是交易者识别交易机会的重要工具。

交易者应专注于股票的突破交易，减少在股票盘整期间的交易，以降低风险暴露时间。

交易者应学会识别和利用市场新闻作为交易催化剂，但避免仅基于新闻冲动交易。

使用适当的工具，如图表软件、经纪人平台、股票扫描器和新闻源，对交易者至关重要。

交易者应根据市场条件调整风险，避免在市场波动时过度交易。

每个交易者都应发展和坚持自己的交易策略，并通过跟踪交易来优化策略表现。

Transcripts

all right everyone welcome to class one

of our day trading course so as you guys

know my name is Ross Cameron and this is

our eight week long course in day

trading alright so first chapter here

we're gonna cover a lot of the basics

and we will get into more detail as we

go so you may have some questions today

that will be answered in the coming days

but you can of course feel free to call

out your answers in the chat room and

anyone watching on the recording you can

feel free to email me Ross at date red

warrior comm alright so first question

here how does day trading work okay so

and another another thing to ask here is

what are we looking for as day traders

all right we talked about this a little

bit today it's a very simple concept but

we're looking for stocks that are moving

ok as day traders we profit from

volatility in the market so if the

markets are flat we're not going to make

money we need to find stocks that are

gonna make quick moves to the upside or

the downside in a relatively predictable

manner

okay so we profit from volatility when

is the market the most volatile it's in

the morning okay it's in the morning at

the open 9:30 to 10:30 in the morning

the first hour is when we have the most

volume in the market okay so we have a

lot of volatility and we have a lot of

volume now the advantage of having that

volume is it provides liquidity when we

have a lot of volume it means there's a

lot of buyers and a lot of sellers so we

can easily get in and out of trades and

now on the flip side mid day we can have

volatile markets but we don't have the

volume which means we lack liquidity

which means it'll be harder to get in

and out of stocks okay especially if we

want to take large size so my focus has

always been trading at the open and

trading in the morning I find that the

first one to two day trades usually four

out of five days I can hit my goal in

the first thirty minutes with one to two

trades I keep it simple I try to hit my

daily goal and then

ease up right we know how quick it is to

lose money so once we have some money in

our pocket we want to hold on to that

alright so we know we want to find

stocks that are moving but finding

stocks are gonna move in a relatively

predictable way is the struggle right

that's the struggle for every trader how

do we find a stock that's gonna make a

move and get in with a low risk entry

and that's the name of the game finding

low-risk entries every time we trade we

know we're exposing ourselves to risk so

how do we minimize that risk that's what

we call finding a good set up any good

set up is an opportunity for us to get

into a trade with this little risk as

possible so a good set up means we might

be risking $100 but we have the

potential to make 300 okay so we would

call that a three-to-one profit loss

ratio risking 100 to make 300 is 3 to 1

all right now on the flip side if you

get in a setup where you're risking $100

to make 10 you have a negative risk

reward ratio and that's going to be a

trade that you should not take all right

so we're always looking for

opportunities to get low-risk entries

with big wind potential but being able

to identify setups that have big wind

potential is also part of the learning

process right as a beginner trader you

may not be able to differentiate

different setups and recognize what is a

homerun potential flag and what is a

most likely failing flag that's

something that comes with experience but

also with training okay so our job as

day traders is to always hunt for volume

and volatility

okay so we're searching the market all

day long looking for that volatility so

we look for earnings releases we look

for press releases any type of catalysts

that can cause big movement in the stock

we're gonna be interested in it all

right and it comes in many forms and

we'll review those in more detail later

in the course

so here's another question why do most

traders fail right day trading requires

you to make quick decisions and at the

same time it requires you to be very

disciplined right now when we hear

breaking news that activist investor has

just taken a stake in Amazon okay the

initial reaction might be to load the

boat let's buy 5,000 shares of Amazon

right put put on a big order that's like

a 1.5 million dollar order right but you

need to be able to make a quick decision

whether you should buy or sell or short

that stock and make it with discipline

does this fit into my trading strategy

what strategy would this fit into if

this trade goes the wrong way what is my

stop how much my risking in this trade

and what is the reward potential right

being able to make all those decisions

and making sure those decisions fit into

our risk tolerance and our strategy

parameters is what for a lot of traders

is very difficult it's multitasking but

it's multitasking when you're under

stress you know there's times where I've

been in a trade where I had too much

sighs maybe I had 10,000 15,000 shares

and all I need to do is sell and I'm

looking at my keys and it becomes hard

to even figure out how to punch the

right keys you just sort of get this

moment of paralysis where you're

overwhelmed and any time that happens

you realize that you pushed yourself a

little too far out of your comfort zone

and that will happen to every one of us

I mean it happened it's happened to me

it'll happen to all of you from time to

time right it's it's good to work on the

edge of our comfort levels so we're

always pushing our boundaries but if we

find ourselves far outside our comfort

level and outside our risk tolerance we

can really end up making some big

mistakes so it's always good to be in

touch with ourselves both of our sort of

emotional state of you know are you

focused are you calm are you making good

decisions you know and also be in touch

with

the result of your decisions are you

trading profitably have you had five

winners in a row or if you had five

losers in a row right because inevitably

when we get on the losing streak it's

going to start to impair our judgment so

being able to be in touch with your own

emotions and maintain composure even

through a losing streak is really really

critical

okay so skill and discipline these are

like muscles they require exercise to

grow and it's not something that once

you grow them you have them forever and

you don't have to work on them anymore

you still have to exercise them right

and that that's what I experience every

day I'm still exercising my ability to

have self-control to have discipline

right now the skill is something that

I've built up so you can't take away the

skill to ride a bicycle and you can't

take away the skill to identify good

stock charts right those are skills but

the discipline is something that we

always have to work on and the skills

you know in truth or something that

we're always developing and refining

it's this is a job where we're always

learning which is great it's very

stimulating but it's important to

remember that if you start to get

complacent and think oh I know

everything you know I don't need to you

know I don't need to study anymore

oftentimes you'll get a quick correction

and you'll lose money so that's the

market correcting you all right so being

able to make quick decisions and follow

your trading rules that is critical for

success in the market as we go on with

this course we're gonna talk a lot about

risk management everything that we do is

gonna come back to how are you managing

risk because ultimately that is the most

important concept for a trader to

understand all day long I'm managing

risk that's what I'm doing I'm trading

stocks but I'm managing risk okay so

we're gonna teach you how to manage risk

so you can make good decisions all right

now next how do you find trades

okay this is really hard for line new

traders you may understand the theory of

trading but when it comes down to

actually finding setups in real time it

can be really difficult

I certainly experienced this as a new

trader I might be able to see setups in

hindsight when I looked back on charts

during the day but to find them while

the day was unfolding was really

difficult for me so we're gonna go over

how to find the trades right so first

we'll start with scanning how do we scan

the market to find stocks that are set

up in a good way so first we have to

find the stocks and then once we've

found the stocks we'll start to look for

the individual setups okay now we are

going to be very specific about what

types of stocks and what type of setups

were willing to trade alright and I

focus a lot on quality versus quantity

now there are millions of traders out

there and there are millions of

strategies out there I'm trading a

strategy that works for me right and

that's what we're teaching and we're

finding that it works really well for

our students as well so it's a strategy

that's easy to implement easy to learn

and for a lot of our students and

certainly for me has been very

profitable okay so that means only

taking the best setups and waiting on

the sidelines until we see something

worth trading and this gets into the

value of patience learning to be patient

is extremely important there are a lot

of traders out there that are over

traders if you over trade that's where

you're gonna see yourself trading 20 30

40 times a day that's over trading over

trading results in very high commissions

your broker will love you but you're

paying him a lot in commissions to do

all those trades okay so you're gonna

lose money in commissions you're also

gonna lose money on trades that go south

because of slippage slippage is an

inevitable factor in the market slippage

is when you go to sell and you thought

you're selling at $5 but the market

filled at 490 so you lost an extra 10

cents and so what it's an extra ten

cents it's not that big a deal but when

you

an over trader and you're trading 20 30

40 times a day that slippage starts to

really add up right 10 cents with a

thousand shares is $100 if you do that

ten times in a day with slippage you

just lost a thousand bucks right so you

can see how if you're going to put

yourself into the market and take a

trade you're you know you're immediately

exposing yourself to the potential of

slippage and the potential of other

forms of risk that we'll review later in

the course okay so as soon as you're in

a trade you're exposed to risk so we

don't want to expose ourselves to risk

unless we have proven that this is a

setup and a strategy worth trading okay

so my strategy is a pattern based

strategy I don't care about companies I

don't care about what they do I don't

care about their earnings I just care

about the patterns I focus on charts

okay and I focus on the symbols I know

more stock symbols than I know the names

of companies I've trained myself to just

focus on the patterns the candlesticks

and the symbols I don't mingle

fundamental analysis with technical

analysis I focus just on the technicals

now with that said I do hunt for a

fundamental catalyst a reason why a

stock is running up if we have a stock

that's running up 80% I want to know

what the catalyst is oh it's a

biopharmaceutical stock they just got

FDA approval or they just passed through

clinical trials okay there's a catalyst

there I can understand that right but

beyond that I'm not gonna be sifting

through the conference cup I'm not gonna

be able to sitting in on conference

calls and I could be sifting through

their earnings papers I don't care about

that stuff I'm not a long-term investor

I'm a day trader we trade very very

quickly sometimes we trade as quickly as

10 second to 30 second long trades and I

can tell you from experience that in ten

seconds you can make thousands of

dollars I've done it in ten seconds you

can also lose thousands of dollars I've

done that too so both ways the market

moves quickly we need to make

sure we're positioned in the right place

to take advantage of the profits and

reduce our risk exposure all right and

it's really important to recognize that

like I said millions of traders out

there millions of strategies but every

trader needs an edge okay

and you need to find your spot in the

market where you feel comfortable my

edge is focusing on patterns okay I

focused on patterns because this is just

what worked for me

now before I was a day trader I worked

as an architect in New York City

patterns have always been something that

fascinate me I'm drawn to patterns I

pick them out everywhere I see them on

charts and I recognized early on in my

trading career that the best setups or

breakouts of patterns very simple

patterns a breakout of resistance a

breakdown of support these patterns work

really well and the reason they work

really well is because so many people

are watching them okay now using this

strategy I can be wrong forty percent of

the time and still make money that's

because I'm using proper risk management

so we'll talk about the risk management

parameters that I use later in the

course but just at this point remember

that we don't have to be right a hundred

percent of the time to make money we can

be right even just fifty percent of time

and you can still book a profit okay now

another thing to remember is that in

this market right now over sixty percent

of the volume is algorithmic

high-frequency trading

that means we're trading against

computers so if you've ever tried to

play chess against a computer you know

you're always gonna lose you will always

lose we're trading stocks against

computer systems okay sixty percent of

the volume is algorithmic trading that

for us on the one hand represents a

problem it means that the majority of

stocks that we're looking at the the

price action that we're seeing is simply

the result of computers and moving

shares around okay now on the other hand

it means that there's a small

handful of stocks each day that are

gonna be trading on such heavy retail

volume okay retail as opposed to

institutional algorithmic trading we'll

be trading on such high retail volume

that we will overpower the algorithmic

trading and we will as retail traders

control that stock we focus on trading

those stocks each day those are stocks

typically that are gapping up on

earnings a PR of some type they have a

ton of retail interest and a ton of

retail volume so regular traders like

myself and all of you are going to be

buying these stocks and we're

overpowering the computer systems okay

so these are the stocks that are gonna

run up 20 30 40 % intraday we've even

seen stocks around 200% intraday you get

a big catalyst like FDA approval on a

new drug and all the retail traders see

it and they buy that stock is going up

okay so we focus on that handful of

stocks now if we try to trade the stocks

that are trading on very light volume

and if you think that 60% of the volume

in the market is high-frequency trading

60 percent on average so it's going to

be much higher on some stocks and much

lower on others so if we trade the

stocks that are dominated and much

higher in high-frequency trading

we're gonna lose money hands down every

time it's very hard to make money when

you're trading against a computer okay

so instead we should try to focus on the

stocks that are gonna have a very low

level of institutional high frequency

trading okay so those are gonna be the

stock that have therefore a high level

of retail interest and what creates a

high level of retail interest or buzz

around the name it's going to be news

okay so every single day I'm looking for

the catalyst that's gonna drive the

small handful of stocks up

all right so pattern trading when price

action is plotted on a chart patterns

are formed I personally use candlestick

charts so each candlestick represents a

period of time and you can choose the

timeframe of the chart that you're

looking at you can choose daily charts

hourly charts 5-minute charts 1 minute

charts etc I prefer one minute and

5-minute candlestick charts okay here's

an example of what a candlestick looks

like you have the low which is the

bottom of the candle wick you have the

high which is the high of the candle

wick you have the open which is the

bottom of the body right here in the

case of a green candle and you have the

close which is the top of the body in

the case of a green candle okay this

upper area here this is the upper candle

wick this lower area is the lower candle

wick okay so these are candlesticks

candlesticks can tell us a great deal

about the general trend of a stock okay

large body candles like this one right

here are very bullish candles like this

that have a high wick and a low wick are

usually going to be a little bit more

indecisive candles of indecision okay in

red candles that have this big red body

means that open was at the high and the

closes at the low this is a pretty good

indication of bearishness in the market

right so just by learning to read

candlesticks we can begin to generate

some opinion on what's the general

attitude for the stock okay and we'll

review more of these later these

candlesticks how they form patterns this

pattern right here is called a flag you

have three big candles going up it can

be anywhere from 3 to 10 or whatever you

have a series of candles shooting up and

then you have a series of candles

consolidating this is a move a stair

step consolidation resting another move

up this is a very common pattern that we

see

here's another one

a pop-up consolidation and then another

move up stair stepping very common

patterns

I love trading patterns because everyone

can see this everyone is watching this

stock because this stock is a hot name

today it's a hot stock right it's a

gapper it has everyone's attention so

we're all watching it we see this

pattern unfolding it has resistance at

37 50 that's a very clear visually it's

very clear as soon as we break 3750

buyers come in and anyone that is short

covers and you get that spike up okay

then it consolidates again here you guys

that have followed me for a while you

know that I trade the first and the

second pullback okay so here's the first

flag the first pullback here's the

second pullback

I never trade almost never trade the

third I trade the first and second

pullback we'll review that more when we

review my actual trading strategies and

setups but just for now recognize that

these patterns are very well respected

in the market but remember they're only

well respected on that small handful of

stocks that have a lot of volume this is

not going to be well respected on a

stock that's dominated by the computers

because these patterns are meaningless

okay this is only a value because lots

of people are watching these names okay

so my routine every morning is finding

these names that we should be trading ok

so what do other traders do right

there's millions of traders out there

will some focus on technical indicators

like the relative strength index moving

average Convergence divergence moving

average crossovers okay there's a lot of

technical indicators out there there's

thousands right and some traders think

they have the holy grail of technical

indicators you know

combination of the relative strength

index or the moving average crossover is

a 90% successful you know buy set up but

I don't believe in any of that stuff

I don't believe that stuff works

especially over the long term I tried

for a long time I did write algorithmic

scanners I did some black box trading

and what I found was that I would write

a set of conditions I would write a

formula I would back test it and I would

see when I back tested that formula that

I would have a you know an 80% chance of

being right an 80% success rate okay I

would run that formula live for 60 days

and what at one time when I first back

tested it was an 80% success rate would

drop to 40%

okay at the end of that 60-day period I

would review that formula I would tweak

it I would fix it I would bring it back

up to 80% so when I back tested it it

would say it was 80% successful I'd run

it again and the profit curve would drop

off again so what was happening well

what I was doing was I was writing a

formula to match inadvertently I was

writing a formula to match a certain set

of back test results so every time we

change those back test results there was

the result of the scanner would change

so the scanner was great backward

testing but was impossible for were

testing it would never run positively

forward because the market is always

changing okay so that for me I don't

think is a sustainable way to trade I

think pattern based trading is much much

better because these patterns will

always be here and retail traders will

always be watching them okay now yes we

do use the relative strength index for

some of our trading in particular

reversal trading we have scanners that

do rely on a high-low RSI but that is

that is more condition to find stocks at

extremes it's not by any means a buy or

sell indicator

it's just something that we use in

addition to the pattern based scale

that's a great question about the

Fibonacci retracement and that's not a

tool that I use or an indicator that I

use okay so some day traders scalp

volume spikes and hi a day moves so they

have high of days scanners and anything

hitting that high of a scanner with high

relative volume they're gonna be

watching okay I personally I have high a

day scanners but I don't find it to be a

successful strategy just to buy a stock

because it's hitting high a day I'm

usually chasing when I do that and it

doesn't work okay and some day traders

focus exclusively on counter trend

trading now I do it myself some counter

trend trading but it's not the

cornerstone of my trading strategy okay

so with pattern trading the more traders

using these patterns the better they

work right the more people that

recognize that this is the line in the

sand or we should be a buyer that means

more people are going to buy at that

point which means the stock is going to

move up faster right the more buyers the

quicker it'll move so this is the type

of thing where I'm so happy to share

pattern based trading not only to help

other traders become more profitable but

in truth the more people that are

trading this strategy the better it'll

work and the reason it works is because

these small handful of stocks each day

are being very well watched so lots of

people are watching them for that simple

breakout right that flag breakout that

wedge breakout the sending wedge that

breakout so many people are watching it

it comes true

okay so pattern trading you have to

remember does not work on all stocks and

we'll go into the details in our stock

selection chapter but it only works on

the stocks that have high relative

volume okay so volume is relative right

some stocks like Apple are going to

trade millions and millions of shares a

day on average

other stocks on average might only trade

500,000 shares a day so what is high

volume is going to be relative from one

stock to another so we actually look for

high relative volume okay if we just

look for a high total volume that's

gonna really throw us off right because

there's some stocks that trade on

average with a lot of volume so we just

look for what's above average for that

stock okay now in particular for pattern

trading I am a breakout trader I love

buying breakout this is also called

momentum trading okay I want to buy when

we're having a stock that's running I

don't like to buy during consolidation

during that waiting and holding phase

okay so some of those charts we looked

at a few minutes ago we saw that quick

pop up followed by that period of

consolidation I don't like to buy during

that period of consolidation I wait for

us to break the top of that resistance

area that's gonna be the apex point

that's the breakout if I buy there

that's where everyone else should be

buying who's looking at taking this for

the breakout so it's it's just instant

it either works instantly or it doesn't

so one of the risk factors that we'll

talk about later in this course is your

exposure time the longer you're in the

market the more you're sitting exposed

right so I reduce my exposure time by

only buying at the breakout instead of

buying and holding and waiting which

would have increased exposure time I

just wait for the breakout and then I

punch my order I get in and I get out

quickly right I take my money and I run

that's been my philosophy trading

getting the breakout get your profit and

get out of the way right and that's why

I only trade the first and second

pullback I don't want to overstay my

welcome with these setups I know they

run quickly but I don't want to stay too

long I don't want to be caught in the

people in the flood of people selling

because they chased it

all right so yeah we'll review the apex

point on a few trades but we'll do that

at the end of the lesson okay now with

reversal patterns in contrast to the

breakout patterns with reversal patterns

we're looking for our clear confirmation

that the pattern is beginning to reverse

okay so for me this is usually going to

be the first candle to make a new high

I'm gonna be looking for the first one

minute or the first 5-minute candle to

make a new high when we review reversal

strategies we'll be talking about the

rubber band snap back so we think of

stocks trading we think of them as a

rubber band and when they get really

stretched out to the downside inevitably

they're due for a correction okay so

when a stock is really squeezing down we

know at some point it's gonna make a

bounce and we want to be in that for the

bounce but we don't want to buy it when

it's still sell it okay if you buy a

stock when it's still selling it's

called catching a falling knife right it

doesn't sound like a good idea in life

and it's not a good idea in trading okay

so stocks dropping we want to wait for

the confirmation of the reversal that's

gonna be the first candle to start

making a new high that's the place where

I look to jump in all right

I set my stop at the lows very important

in day trading is setting a stop whether

it's mental or alive stop you have to

have a line in the sand where you get

out okay this is the place where you

admit defeat

and you say I was wrong I'm getting out

of the way now let's be honest I'm a

successful trader but I still lose all

the time so that means I must have found

out a way to be a really good loser and

it's true I lose all the time but I lose

gracefully I take the losses and I walk

away you have to be a good loser if

you're not a good loser it's gonna be

really hard to be a good trader you just

have to be able to walk away when it's

the time to step back so you can ask

yourself a few questions

is the stock still moving up

are we still trending up right what is

the low of the last five minute candle

and have we broken that low because if

we broke the low of the last five-minute

candle in an uptrend then the trend may

be starting to change we have to follow

the charts and this is one of the issues

where if you combine the fundamental

analysis you can start getting yourself

into the pattern of justifying staying

in a bad trade simply because of the

fundamentals well you know it's nice and

they make really great sneakers they're

definitely not going out of business

I'll just hold this longer okay you

don't want to do that you want to follow

the chart if the chart is telling you to

get out you get out you can always get

back in but it's really hard to recover

from a big loss right you don't want to

take a $50 loss well you certainly don't

want to take a $200 loss by the time you

finally take the you know $800 loss it's

really hard to get back from that so

it's much better just to take the quick

losses get out come back when the timing

is better

all right now it's also good to keep in

mind that stocks will trend with the

overall market unless they have a reason

not to so this is part of the

algorithmic trading this is part of what

the computer systems do they're trending

stocks with the market ok so the markets

moving up stocks are moving up but

they're gonna be a handful of stocks

that will buck the trend of the market

because they have a catalyst again this

is what we're looking for that small

handful of stocks that are going to be

running when the markets tanking are

there gonna be tanking when the markets

running because they have a reason to

make that move that's what we want now

if the markets running and these stocks

are running too that's fine I have no

problem with that we just want to make

sure we're trading stocks that are

moving because they have a reason to

move so when I do reversal trades my

favorite reversal trades are on stocks

that are selling off because there's bad

news out ok a quick sell off because of

bad news lots of people are gonna notice

it and start watching it for a bottom

bounce those are my favorite bottom

bounces they can be really really quick

really solid

okay now stocks are just trending down

with the overall market the way oil was

a few a few weeks ago you try to do a

bottom bounce they pop up 10 cents and

then they sell off another 50 cents try

to another bottom bounce they pop up 15

cents and the miss sell off another 60

cents they're selling off because

they're trending with the market and

it's a weak sector so that's where we

have to differentiate is this moving

because the market is moving or is this

moving because it has a unique catalyst

okay so that's where we have to do a

little bit of research and as you have

more experience as a trader you'll be

able to differentiate what is

catalyst based price action and what is

just you know market general market

trending alright so retail traders

versus institutional traders okay so

retail traders that's all of us regular

traders part-time traders full-time

traders but we're not working for a firm

and we're not managing other people's

money okay retail traders we are a small

percentage

of the volume in the market the majority

of the volume of the market is

institutional traders these are traders

that represent large amounts of capital

okay they may be trading with banks

hedge funds mutual funds they have a lot

of money behind them and they can be

very aggressive and we have to be

careful that we're not on the wrong side

of institutional traders okay but how do

we identify where the institutional

traders are in the market okay now we'll

go over this a little bit later in the

class but for right now just recognize

that what we want to do is instead of

trying to find institutional traders

they're everywhere

so what we want to try to do is find

where are the retail traders hanging out

today and let's trade with them okay so

think of all the kids on the playground

and everyone's hanging out at the slides

because that's what's fun okay but

you're over fiddling around you know in

the sandbox just doing your own thing

well you're off on your own in the

sandbox trading a stock that no one's

paying attention to you're in the wrong

place

focus where everyone else is focused

that is gonna be the stock that's moving

okay and there's usually a stock every

single day that's getting a ton of

action that's what day traders are going

to be looking at so can we date trade a

stock like apple or Priceline or

coca-cola or IBM sure we could but these

are slow-moving stocks they're dominated

by institutional traders algorithmic

traders and in general they're going to

be very hard to day trade okay so how do

we find what retail traders are focused

on how do we find the cool place in the

playground there's a couple weights one

is watching our scanners okay the stocks

that are gapping up the most those are

gonna be the stocks that retail traders

are watching okay so first watching the

gap errs secondly it's good to be in

touch with social media stock twits

Twitter and see what is trending okay

what stocks are trending and this is a

especially helpful on stock twits

Twitter it's got someone

other stuff going on but if you follow a

handful of traders then you'll be able

to see what everyone's talking about and

this is another huge advantage of being

in a track a chatroom

like the one that we have at warrior

trading right you've got hundreds of

traders and we're all talking about

what's hot today okay so if you're

trading completely on your own you know

you're off in the corner of the

playground you're not in touch with

other people are doing inevitably it's

gonna make it really hard on yourself

you just don't know where the activity

is I tried doing that you know I tried

trading in a bubble I tried blocking out

social media and blocking out you know

all these things and just doing my own

thing it didn't work it did not work so

you can try it if you want my experience

was that it didn't work at all okay so

what do I do well I don't trade

fundamentals right I'm not a value

investor I'm not a long-term investor I

don't trade Forex I don't trade futures

right I don't trade commodities I'm an

equities day trader okay and I focus on

real stocks we don't trade penny stocks

we don't trade the OTC markets we don't

trade that junk we trade real stocks and

sometimes we are trading coca-cola and

sometimes we are trading Apple but we'll

be trading the stocks that are having a

big day every single day in the market

there's a stock having a big day because

they released earnings

maybe it's Expedia right maybe it's

fireEye maybe it's first solar but these

are big companies okay these are the

companies we're gonna be trading this is

how I've made my living it's what works

for me this is the strategy that we'll

be sharing with you all right so a day

in the life for me

typically starts around 8:00 a.m. 8:30

with pre market scanning okay so pre

market I'm scanning to see where is

their volume in the market right now

as early as 8:30 9:00 a.m. we'll know

what stocks are gapping up okay I look

at the top 10 Gabor's and I start

sorting through the news okay

what's the catalyst causing the gap

right

I put together a watch list I start

ruling some out I start picking and

choosing which ones do I like which do I

not like by 9:00 a.m. we're in the

chatroom warrior trading going over our

watch list alright going over the watch

list with all of our students and all of

our traders by 9:30 when the bell rings

my orders are ready I've placed orders

as early as 9:30 and one second okay and

I've been up to thousand dollars in the

first five minutes more times than I can

count I trade aggressively at the open

trading these Gabor's trading these

momentum stocks right 9:30 to 12:00

that's when I'm the most aggressive

that's when we have the most volume and

momentum in the market from noon to 4:00

I really ease up on the throttle I don't

want to go overboard midday and

afternoon because that's when we have

lower volume in the market lower volume

means lower liquidity less liquidity and

higher risk okay so after noon I really

go easy with the exception of trading

breaking news if we have breaking news

that's an instant catalyst that's gonna

cause a tremendous amount of volume in

terms of trading pre-market I avoid

pre-market trading because there's very

low liquidity there's a very few traders

trading pre market which means stocks

can pop up a dollar drop a dollar you

can't get in and out with large size so

I can't go heavy with thousands of

shares you have to go really small and

you have to use such small positions

that for me it's not even worth it if

you don't mind trading a couple hundred

shares you could trade pre market you

know you can size up a little bit pre

market maybe a thousand two thousand but

you don't have good liquidity and that's

why I avoid pre-market trading okay so

on a good day I have my goal by 10:00

a.m. and I'm easing out lightening up

trading and by four o'clock I'm done

right but oftentimes by lunchtime I've

already hit my goal and I'm gonna be

sitting on my hands

unless there is that perfect setup from

4:00 to 6:00 p.m. we've got our trading

courses and we're reviewing our trades

from the day now let's think a little

bit about the market okay if you make

$1,000 by 10:00 a.m. what do you think

you're gonna do are you gonna walk away

take the profit some well many will okay

so a lot of people if they make their

thousand dollars by 10:00 a.m. they're

done for the day they're gonna go

golfing they're gonna go do whatever

they want but if you lost a thousand

dollars by 10:00 a.m. most traders are

gonna keep fighting it out okay they're

gonna stay in the market they're gonna

keep trading and they're gonna try to

make back what they lost

so that means midday trading is

dominated by traders that have lost in

the morning and they're aggressively

trying to make it back that causes a lot

of volatility but not in the good way

that causes stocks to shoot up and then

shoot down because people are going in

and out with market orders it's a time

that I consider dominated by more

amateur trading okay so I go really easy

mid day the only trades I take mid day

would be breaking news or swing trades

trades that were giving a lot of space

and that we don't need to micromanage on

the 1 minute or 5 minute chart I would

not trade the 1 minute or 5 minute

midday unless we have a stock that's

really running on big momentum in order

to get started trading you need a few

things you need charts you need a broker

you need stock scanners and you're gonna

want news okay I use these signal for my

charts

these signal is a terrific platform for

charting now I personally have so many

monitors that I have e signal running on

one two three four five six different

monitors and it's running on six

monitors with no lack okay now there are

other charting platforms you can use but

my problem has been that they result in

lab

when you try to run them on multiple

monitors so East signals very low

latency very quick charting software

alright in combination with East signal

I used has market profile indicators

alright these are a custom suite of

indicators used by over 15,000 traders

on the Bloomberg Bloomberg terminals ok

Bloomberg terminals that's what hedge

fund traders are using right and I like

to see what the big guys are seeing I

don't want to be going against them

alright so we'll go over those Taz

market profile indicators later in the

course but for right now right now just

know the East signal is the charting

platform that I use alright best brokers

you need hot keys you need to be able to

move in and out of trades quickly ok now

I personally use speed trader I love

speed trader we've got the direct access

routing we have high speed executions

and we have hot keys alright so this and

we have aggressive pricing so these are

some of the real fundamental things to

look for in a broker if your broker

doesn't have hot keys you're not gonna

be able to get internet of trades

quickly ok that's critical you need to

be able to get in that trades quickly I

can't tell you how many times I've been

up a thousand dollars in a matter of

seconds because all of a Sode

all of a sudden the stock spikes right

when you see a stock spike like that you

want to be able to put money in your

pocket and profit from it you don't want

to be fumbling with your orders and

trying to enter your order window and

then confirm it and then send it again

it doesn't work you need quick

executions all right so I highly

recommend a broker such a speech trader

it's gonna give you the technology to be

the fast day trader you need to be to

make money there's a lot of full-service

brokers out there each raid Ameritrade

those are terrific if you're trading a

couple times a month you know a little

bit of day trading here and there but

mostly you know investing but when

you're an active trader meaning 10

trades a day or more yeah you need

better software ok

so remember that brokers will give you

four times leverage so if you put in

$30,000 you're gonna have a twenty one

hundred and twenty thousand dollars of

buying power okay so that leverage is

Marge you're allowed to trade on margin

but you have to be responsible if you're

gonna trade on margin you have to be

responsible we'll review that in the

risk management section of the class

scanning tools I use trade ideas and I

can't say enough good things about them

I love trade ideas 90% of my trades I

find on the scanners but I built in

trade ideas so you need a way to find

stocks I mean this is just part of the

deal we need a way to find stocks trade

ideas for me that's how I do it all

right so when you're in the chat room

you can see my screen while I'm screen

sharing you can see all my scanners are

running you can watch the scanners that

I'm watching so if you're in chat you

don't need to separately have a

subscription to trade ideas you can just

watch my scanners and benefit from it

but you know if you do go out on your

own you want those tools you're gonna

need it okay now something I've talked

about and I'll say again is that tools

are of no value if you don't know how to

use them so this course is gonna be

focused on teaching you how to use these

tools all right and streaming news I use

the been Zynga pro for the Squawk Box

this is basically a radio that's

constantly talking about stock news

right breaking news on stocks options

activity takeover chat or anything you

can think of it's coming out on the

radio this is really terrific

I love been Zynga for the news alright

so I generally when I'm trading news I'm

gonna wait for the dust to settle we

will go into more detail about news

based trading strategies but for right

now remember you don't want to be an

impulsive trader right we know we have

to make quick decisions but we also need

to maintain discipline and composure and

make sure all of our trades fit within

one of the strategies that were

there were live training all right now

on another note we have to think a

little bit about the ebb and flow of the

market okay now there are times when the

market the overall market is very choppy

we it is okay for us and it's advisable

for us to adjust our risk based on

market conditions

if we're gonna period where the market

is choppy we're having a hard time

generating profits it's a good idea to

scale back taper back the risk a little

bit right reduce the exposure so our

losses aren't so bad then when the

market starts picking back up and we get

on a hot streak we can start to lean

into it a little bit and go heavier so

knowing when to lean into trades and

when to ease up a little bit is

important it's something that will come

with experience and we will review that

again more in the course okay and you

can look at the macro channels on the SP

Y and draw trend lines and if you can

see that we're trading at the top or a

bottom of a macro channel you can expect

a little bit of choppiness so it's kind

of like a pinball you're bouncing up and

down between these channels okay when

we're moving between them we often have

nice clean moves but we're consolidating

along the highs all along the lows we

can get a little bit choppiness so

something that is absolutely critical

for every trader is that you're trading

a strategy I wish someone had told me

this when I was first starting trading

bross you need to trade a strategy if

you're trading with real money

you must be trading a written strategy

it must have historical data to prove to

verify that it's worth trading with real

money

we must justify to ourselves that were

worth investing it otherwise we might as

well put the money somewhere else in a

mutual fund or in a CD because at least

there we won't probably lose half of it

right but the experience for a lot of

traders is that they fail they lose

money okay and a large a large

percentage of those traders they're not

getting the education that all

are getting here they're going to be

live trading strategies that are not

even they're not even hammered out right

they're just haphazardly trading a

little of this a little bit of that

until their accounts gone and then they

wonder what happened

so everyone here in this class you have

the big advantage of working with me and

the other traders in our chat room to

help develop a strategy worth trading

okay so remember the market is gonna be

here we don't need to rush this is a

marathon not a sprint it's not about

making fifty thousand dollars by the end

of next week it's about developing a set

of skills that can last for a lifetime

okay so we don't want to live trade a

new strategy until we've proven that

it's worth investing in and we don't

want to be impulsive and this is part of

going back to having patience and it's

also a big part of managing risk we all

have our place in the market all right

trading is not for everyone but for

everyone that feels like trading is a

good fit for them we still have our own

place in the market I may be a 1 minute

5 minute trader you may be a 60 minute

120 minute trader right maybe a 60

minute for our trailer he may be a daily

trader weekly trader there's a place in

the market for everyone okay so you have

to find your place what time frame works

for you what strategies work for you

inevitably what you're learning here are

gonna be pieces of the puzzle learning

to trade it's like a big puzzle you're

gonna look you're gonna get some pieces

here in our trading course you're gonna

pick up pieces on your own from your own

reading your own research inevitably

you're gonna create the puzzle it's

going to be your own unique trading

strategy it's going to be unique to you

it'll have a little bit of what Ross

does it'll have a little bit of what

someone else does you know have a little

bit of your own thing you're gonna take

what works for you I don't expect

everything I do to work exactly for you

right we're all individuals we all have

our unique approach that's fine that's

okay and I'm happy to help you develop

the strategy that's going to work

you the important thing is that you need

to be good at one strategy right one

strategy once you can tread water in the

market if you can just tread water you

can get by right the longer you sit in

the market the longer you can be a

trader but without blowing up your

account the better your odds are this is

just a matter of having time in the

chair right the more time you see

watching these charts the more you learn

so this is a job where you survive until

you can make it so if you can just

survive if you can just break even just

tread water until you learn to swim

that's what you do and with one set up

with one strategy you could be

successful and you can tread water and

you can just sit and wait for that one

setup to come to you right it's like

having a very very narrow diet

you only eat apples well you just have

to wait for apples to come all right and

sometimes you're gonna sit and there's

not gonna be any apples for a while you

just have to wait for them to come to

you all right and then eventually you

start eating pears and peaches and

oranges stuff like that so you start

branching out but first you need to get

down one strategy okay all right so that

can be the gap and go that can be the

momentum strategy that can be the

reversal strategy or it can be one of

your own okay but those are the three

that I trade most actively my favorite

is the gap ago all right so this was

what works for me focusing first on what

I was good at and then narrowing down

narrowing it down developing that area

of strength into a workable strategy and

then using that strategy to survive

until I could develop others right one

of the first things I did as a trader

was create an Excel Doc I wanted to

trick I want to track all my trades and

I actually did this when I was younger

when I was I don't know maybe 14 or 15 I

had some some stocks that I was buying I

was buying Caterpillar and some computer

companies and some bicycle companies car

companies I was buying stuff that I

like with like a hundred shares just a

little of this and a little of that

and I had it all on a yellow legal pad

and I was so pumped to make that kind of

spreadsheet on you know legal yellow

paperwork I love doing that and as soon

as I started trading when I got into it

to day trade full-time I opened up my

Excel doc and started making a

spreadsheet and it was one of the best

things I did because I was able to track

my performance so I would track ok these

trades are this strategy this strategy

in this strategy I'll be able to

categorize them and then sort that data

and I was able to find ok

look Ross you're doing a great job

buying breakouts of resistance that's

where you have the biggest winners

that's we have the most consistency

focus on that so I highly recommend

tracking your trades get to know your

statistics you're gonna learn a lot from

those all right so homework for today's

class start tracking your trades all

right and if you're already tracking

them and start going through that data

and email me Ross the day trade warrior

comm with some some of the info that

you're picking up I'm gonna be excited

to to hear about it okay so that wraps

up class for tonight class one of the

warrior trading course again any

questions please feel free to email me

Ross today trig warrior calm