Day Trading Live – Beginners Strategy and Daily Recap

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Day Trading Live – Beginners Strategy and Daily Recap
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Day trading live is often terrifying to most new students. The primary problem is that all beginning day traders are thrown into the middle of the ring versus professionals. That’s really the major problem. No one is conditioned mentally for this stuff. It’s like getting thrown to the lions.

It can often be a terrifying experience if you don’t have the proper training. Let’s face it no matter how good you are, you’re emotions can get the best of you. Take my trading today for instance.

I’m a professional, right? But yet I had a series of mistakes. Had I not made those mistakes I would have finished up huge. Instead I still managed to profit a meager $50. Sure this was sim but that’s still a point. In my actual trading account I profited $250 minus commissions. These are the kinds of things that we’re going to face when day trading live.

The most important part of becoming a profitable trader is being able to get past these mistakes and continue trading mistake free. Some people can’t handle this. You have to learn how to become a good loser and brush it off. Always prepare yourself for the next trade.

You see day trading is a game of opportunities. The minute you sit around feeling sorry for yourself for losing on the last trade is the minute that you lose your edge.

So, next time you make a small mistake just say to yourself that it’s ok.. it’s just part of the game. Take a deep breath and continue trading. It happens to the best of us. If you’re having problems dumping a ton of money when you make mistakes then maybe you just need to take a break and quit day trading live for a few minutes.

Enough of the rant on mistakes. Let’s get to the market action for the day. There really wasn’t any. Right out of the gate was the mistake that I mentioned I made. I should have just been patient and waited to take a trade. Immediately after I take another aggressive trade which I should not have taken. It didn’t have proper risk versus reward and should have been avoided at all costs.

Then I screwed up the exit. So, at this point I’m nearly down 1.5 and have made two mistakes. Now here’s what seperates the men from the boys in trading. Instead of setting off and losing a ton of money I patiently waited for another good trade setup. And seven minutes prior to quitting it happened.

I took a great trade and wound up getting 2.5 points on a beginners day trading strategy. Not bad for a day that could have gone south. That’s it for my day trading live.