Watch Me Lose My Mind... (Day Trading Warning for Beginners)
For those of you that are beginners to day trading let me just offer you up a warning. That, things can get a little sketchy, out there, and you're going to watch me lose my mind here in just a second, no worries i'm going to spend very little time here on the blackboard. I just want to set up some context, and then we're going, to, real life training results, so again no theory here. You're literally going to see me, lose my mind, and really just offer up how dangerous, trading, can be, and i'm not trying to sit here and say that i'm a fantastic, trader, all i'm trying to say is i've done enough stupid things out there, to at least be able to identify. What you're going to see, and then i want to be able to offer you up some solutions, to when it happens to you and these this is one of those things, where a textbook, really can't tell you because even with this i'm going to draw you this graph here, and yeah. The graph's going to illustrate the point, but to actually, see the point to kind of feel the point and watch it play out, i mean there's no way i can do that on a chalkboard there's no way any sort of book can do that and that's why it's a little distinct when people were like well just buy a book and it'll teach you to trade. That's i mean i'm not saying books are totally totally worthless, but there does reach that point, where they're very very limited, so to set up the context here on me losing my mind which you're gonna see just understand this is traders and like i said this is the warning, that you need to keep in mind and be aware of as a beginner who knows maybe if you're an experienced, trader, and you're really struggling, and you have plenty, i mean you like know how to, buy a stock and all that sort of stuff. But you're having inconsistency, well maybe this is what you know the relationship. That you're not quite getting. And the relationship, is very simple, and it works like this. Meaning. As this line goes up what's going with frustration, well. Frustration. Very low here. Very low chance of bad choices. Then take the other extreme. Over here. Frustration, level is very high. Potential, to make bad choices has now all of a sudden increased. Quite a bit. And i get it this is not some sort of like revolutionary. Thing well of course clay the more you get frustrated. The more bad choices that can happen. But as you're again this is hence the title of video a beginner. Maybe you don't really realize. What frustration, looks like how it can form. How it develops. And that's what i want to show you with this video because you'll see exactly. And you'll hear it in my voice. How frustration, how this can, you know you know manifest, itself. And what you've got to be very careful, of, is that because, when those emotions. Now frustration, is one of many, emotions, but it's kind of one of those. You know linchpins, ones where it can bleed down quite a bit, into other things but you gotta avoid bad choices, obviously. And what's gonna cause you to those bad choices, is emotion such as frustration, so let me go to this video and then even after the vid even after the trade takes place, i'm going to make and talk through some more talking points here so this is basically the end of me at the chalkboard i'll come back at the very end to wrap it up but let's get to the video, and then definitely be sure to stick around to the segment because that's where i offer up the solution to all this and what you really need to be aware of as a trader. Well i missed it a little bit but i'm going to put my order out there see if i can get the back test got the back test there at. 182.75. So let's see if this thing wants to indeed roll back over here. So i missed it originally. But didn't chase it i let it come back up to me and hit me at. 182.75. So not just a question of does this thing want to roll back over. I'm liking this setup quite a. Bit. Can't get down through 180 250, yes it can so took off 200, shares here. So it could still be a losing, trade.
But It'll be a much less losing trade because i, have. Taken some of these profits, off the table and if it goes up over 184. Or excuse me 180 350, i will need to get out of my remaining. Shares which right now looking like it very well may do. So like i said very well i'm still staring at a potential losing trade here if this thing does not, want to roll over. But at least i'm well let me. So all out there, so still, ended up losing. 190, so 180 250.. My timing was off i still like 180 250, if it can get back down there but, so yeah it's a losing trade but, uh you know. An amount, that. I'm quite confident, i can overcome. But. Yeah, and it still may work. Roll back down in my favor there but. It could have just continued on bouncing and you just can't take that risk but uh. Well let's keep an eye on things. Okay in there now at 182.50. Let's see if this can finally be. Where the breakdown. Happens. Just needed a little bit more momentum. Here. Can't, get the push to the downside. Um this area if it goes though it's going to go. There we go. All right took off 200, again same general idea here. So, again still could be looking at a losing, trade. Wow this thing. Boyne just break down for. Me. Well very glad i did what i look at this. Thing. Well. Boeing is just not, behaving, at all. At all. Wow. Well i'm looking at a potential another loss here. If it goes up over that. 65-ish. Area. That this would be very frustrating, let's see if we can. Get it to roll back. Over. I may look to add to the position if it looks like it wants to get back down here below the 180 250. Mark. Like i said i need to see it. Look like it wants to get down below 180, 250.. Because that would imply a pretty fail big failed bounce as you're seeing right now. So in there. Added, in, 300, more shares. Because i still think this thing it wants to go. So can we get, finally the push to the. Downside. This 182, 30 area. Stubborn. Looking like the spy, might want to pull back too which should help me out. Here. Trying to be patient with this one. And the reason why i'm. Big reason why i'm having patience is the the market, sby. Is behaving in a manner that makes me think this thing is going to want to pull back. So that's what's helping me just. Remain calm here have faith in the trade. That this thing does want to break down but that 182, 30 range that's the key area once again stuck in the 182, 30s. There we go. So took off those 300, again. All right i'm just bringing myself down to 100, shares i've had enough about i've had enough of this one i'm not gonna let this thing bounce in my face with a bigger position size. But if it does want to go through 182, then i will gladly, let the thing, work for me. But as of right now this is just, there we go, can we get some more downside, pressure. Than that. Fast. So i have 50 shares left now just because this is um. I'm, just not quite getting this one right it does not want to it just this doesn't want to move. I mean can it finally move down through 182, with some. Authority, we'll see. All right i've had enough of this one so, uh, whatever. I'm, my loss is back at least at least i'm back to the green but. You know and it still may go but. I mean i was looking for and maybe my mind got corrupted a little bit. But i was looking for, a move. More so like this now not. Not like multiple dollars, but just a more smoother, move this was not smooth at all. And you can see it now the one thing and like i said uh the, if you take away one learning lesson from this video. I want you to understand, that what, kept me in the trade here when this thing was bouncing bouncing bouncing. And then you know was kind of just hovering here you heard me saying it you got to use the sby. I've, done plenty of videos on this on the channel as a whole on why that's important, and once again, that is the main reason why even when this thing was bouncing and bouncing and bouncing. The spy gave me the confidence to stay in. And, i mean here you can see just once again going back up so i feel totally. I feel like i played that one very very well i'm glad i added where i did. Uh because that allowed me to you know. Put that more, that much more profits in my pocket. And maybe oop let me get roku, alerted to the room real quick while i talk. Here. And then and the. Annoying, part is, yes i am totally talking, see do i want to take that again. I don't know that looks like such a good setup do you want to break down boeing. I mean do you actually want to break down.
I'm Doing 100, shares, i mean even if i'm. Wrong it'll cost me 100 bucks which i'm totally fine, with. Let's see if it wants to work its way down to 182.. So yeah. My confidence, is just shook so because of that i'm not going to go with 500 shares normal position size. Because who knows what this thing wants to do but. I am getting that 182, mark alerted on the chat room let people make up their minds if they want to take it or not. So there did break there, but. And it's just you know it just won't flush. All right well let's see let's look around see what else i can find. All right i've that 182, mark i'm going back up to 500.. This might bite me but this is such a good. Setup. I'd like to see a bounce though here and fail so i i should make that as kind of contingency, which is doing right now but i'd like to see it bounce up a little bit more i'd like to see this green candle get a little bit. Greener. But i don't know this could just be suckering, me into, uh. To a place i don't want to go but you got to like this setup this is a great looking setup here. I'd like to get up above 180 250, though. That would give it a nice green candle but right now it's hovering it's you know can't even quite do that. So there we go green. Candle. This is a risky trade for sure. Okay i'm in at 180 208.. Like i said i just. I like the potential, of it i really. Do. But as of right now. Looking like i chose poorly. Here. Now if it rolls back over i will certainly, add to the position. If it looks like it's going to go back to the 182. Mark. I will add because that would be a massive, failure of this current bounce right here which would be a big sign of weakness. But i don't know if it's gonna actually fail though that's the. Problem. Well it's heading back down there. Watching, watching. Watching. Want to see it closer to 182. Though. Getting close. If it goes below 182.10. I'll probably hop, in. And added. 300, more let's see if we can finally get the break to the downside. There we go. Come on just go, just break down for me buddy. All right 200 left, i have no problem admitting at all that i am totally spooked by this one i just can't read it i don't know if this thing wants to break down or not, and you can you can feel, or you can. You can hear the frustration, of my voice which is fine, i mean it's okay i mean i know my saying is trade without emotion, but it should be, just trade with recognized, emotion i get it i'm frustrated, i get it this thing is, grinding, on my gears. But because i'm aware of that at least, i'm going to just take off you know what. I'm done with this thing 172. Dollars, i i can't get it right. I mean i got it right but this thing just won't go. It will not go, and to my point. Uh you know pat myself on the back a little bit, i i, i very clearly realize i'm frustrated, right now i can i can hear it in my voice, i'm well well aware and when i get to this point. I'm just not capable of trading any longer. And as traders that's okay, i get it like i said my my slogan, is trade without emotion but you know what, motions, are never going to go away the key thing is, do you at least wreck, you know recognize, the emotions, that you you're having. And then second part do you know how to deal with those emotions. So for me yes i'm recognizing, the emotions. Frustration. Anger. Uh just annoyance. Okay so what is the solution, for this i just need to i need to be done, um and i tried and tried and tried. And it is just not i mean that was such a good setup and it broke down. But it just didn't keep on breaking down and it very well still may go but at this point for the reasons discussed. I'm just not you know psychologically. Able anymore to uh to keep up with all this, so i mean, i get it now if you've never traded before, i probably sound like a nutcase to you but just. Cut me a little slack and realize, that. When you put real money on the line. And when you're trading. You have a bunch of voices that live in your head and when you start to trade and put real money on the line these voices, wake up, and when there's a bunch of data flashing all over the screen, and you got to make, you know very very quick decisions.
You Wake up even more voices, so, if you've never traded and you're just watching this video out of the blue, i well i mean maybe i'm a little bit of a nutcase but i promise i'm probably not as big of a nutcase as i sound like in this video, but for those of you that have traded, you know what i'm talking about and that's why the big learning lesson here is it's okay to have emotions, when you trade, but you better be able to identify, and realize. When you're having those emotions. And then know what in your personal situation. The solution is which is gonna be different maybe for some people you say no when i get frustrated, when i get angry when i get annoyed, i don't need to just stop trading, i just need to lower my position size. And you know that that's totally valid maybe that works for you, doesn't quite work for me but overall think about it the thought process, is the exact same identify, the emotions be aware of them, and then know what you know the solution to that is, one final time just to really annoy you and hammer it home, there is nothing, wrong with having emotions, as traders, there's no way to ever actually get them out of the way, but it's all about, do you recognize. Do you realize. These emotions, because if you realize, if you recognize, what's going on, then you can kick this right in the face, you can just prevent yourself from making some really bad choices. And when you do that like i said whatever your solution is for me i just got to be done trading, maybe you got a reduced position, size, that is the key so don't feel like as a trader, oh i felt any emotion that means i'm bad, no. That's good that you felt the emotion that's actually a good sign because you recognize the emotion. Now the next step is just how are you going to deal with that what is your solution. To those frustrations, and we're all all different, but that's the core point okay to have emotions, but just be sure you recognize, them if you like this video if you like these kind of blends where i do some chalkboard, and then real life results, uh you know like hit that like button leave a comment question suggestion, down below, and then finally check out the channel as a whole and if you like what you see hopefully decide to hit that subscribe, button. First off thanks so much for watching the entire video real quick before you go, i want to invite you to a live webinar, web class, training, workshop, online event, whatever you want to call it but it will be me, live, revealing, to you what i discovered, that has allowed me to transform, myself from being an employee, to being my own boss, including. How i had only one losing day out of 73, days in total, i'm going to cover three keys that have helped me, unlock, profitable, consistency. Within the markets. The first key is super weird but in a productive, type of way, the second key is super awesome because it quite literally, is wired into our dna, as humans, making it very easy to use, but in a cruel way, this becomes a pitfall for many traders, i'll explain it all though, including, how to avoid the pitfall, that it creates for some, and yeah the third key when you hear it sounds way too good way too good to be true but it's not and i'll show you, how it all works then at the end i open it up for a question and answer session that is again, totally, live, even if you can't make the live session, please still sign up as it will be recorded. And you can go back and watch the replay, that i will send you, click the image on the screen or click the link down in the description, box, so you can get the date and time and claim your spot, which i should note is limited, due to the fact that this truly is a live event, if you have any questions.
Let Me know if not, i'll be seeing you soon.
2020-08-08 12:50
