My Life as a Day Trader: A Hard Way to Make an Easy Living!

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(lively music plays) (alarm clock blaring) (man groaning) - Oh, man, it's too early. What should I wear today? I know it ain't going to be that. How about sweat pants and a t-shirt. Living the life. Scalpmaster has more than one meaning, if you know what I mean? You guys always ask me, how do I get my hair to look so good. One of these, three times a week, for those of you that are curious. So, I'm a scalp trader. And, I scalp my hair today. (pee splashing) (water rushing) Well, it's time for the long walk to my office, but before I get to the office, I got to stop, and everybody gets their morning cup of Joe. I'm not about that. I drink iced tea or Gatorade. Snapple's actually my preferred thing. Arizona ice tea is really what I like to drink in the morning. So, all you coffee lovers out there, sorry. This... This is where the magic happens because without my water, and my Arizona ice tea, I'm nothing in the morning. Absolutely nothing. Every day, five days a week. - [Cameraman] Damn, dude, that's a serious champagne collection. - Come on, man. It's work time. I got to go make some money. I can't afford that champagne without making money. Let's go. Come on, man. Alright. So, I'm at my desk, guys. I opened up my trade station, my trading platform, and I'm getting ready to create my morning watch list. I'm a gap trader, hence the name scalpmaster. I love trading the first 30 minutes of the market open. So, in order to do that, I need to create a morning gap list. I mean, there's like four or 5,000 stocks in the stock market. And, gosh, if we... If at 9:30 triggered, and we don't have anything to watch, I mean, we're gonna be like Elmer Fudd and like a chicken would run around with their head cut off. So, what I'm gonna do is take a list of dollar gainers and dollar losers. And, I'm gonna create a gap list from it in hopes of taking down those 4,000 stocks down to maybe like 10 or 15 favorite ideas. And, then once I get those 10 or 15 ideas, I'm even gonna dwindle it down even a little bit more to maybe like four or five, just top, top watch ideas. So, I'm gonna do that. And, then I'm gonna give that list to my members in the chat room. And, then I'm gonna explain the list to the members in the chat room. And, then it'll probably be about time for the market open. (hands smacking) Good morning, live traders. It's moneymaking time. Hope you guys are doing well. We're gonna get started here guys in just a second. We're gonna take a look at the ques in the spy. See what direction we think the markets are gonna head. After that, we're gonna go over our gap list guys. And, remember, the gap list, this is the vehicle in which we're gonna make money from. So, take it very seriously. When we're finished going over and reviewing the gap list, we're gonna build a favorites list. Basically, what we're going to do there is take the best of the best and make them better, okay? Just remember, the price points that I put on that favorites list are just areas of interest because we are pattern traders. We never take a trade without a pattern. If you do, you are a gambler, and we don't gamble here at live trader. So, let's dig in, guys. Let's get started. Bili, bili, B I L I, another similar stock to Boeing, right? Another similar stock. Why? Because, this stock is getting hammered, right? It's going lower, lower, lower, lower, lower, lower, and Friday, it looked like it was gonna bounce. It was looking really good. It tested the $70 area and then got slapped. I mean just, yeah, just slapped, pour all the way back to 66. Now, it's gapping to 68, 76. What's the problem? The double top now. Right, now we have a double top at 70 to 70, 50. So, if you take a look at this, it's near $69, but you still have $1.50 before you can do anything with it. So, this is one that could very, very, very easily be on a backup watch list or not on the list. I'll repeat that. This one could very easily be on a backup watch or not on the list at all. It's got to get over $70. Average trading day for this is about five bucks. Somewhere around there. Volume is fine. 10 million shares. So, it does plenty of range, right? Go $1.50, it should have three bucks left, but I like it over 70, 50, pseudo double bottom retest, a little higher, high possible. Alright guys, so I just finished talking to the chat room, building our gap list, building our favorites as we've dwindled our list down to our top, top ideas. We've got about five or six minutes right now before the market opens. I like to take this time to decompress just a little bit. And, usually, honestly, I go down and say hi to my kids, 'cause they're getting ready to go to school here in a couple of minutes. It's one of the beautiful things about this job, right? I get to see my kids go to school and I get to see him come home from school. - [Child] Daddy. - Hey, guys, how are you guys doing? - Good. - Yeah, you getting ready to go to school? - Yeah. - Yeah? You're gonna have a good day at school today? - Daddy. - What? - We only, after school, we eat cereal. - Oh, you eat cereal before and after school. Yeah? Do you guys have any games today, like cheer, volleyball, sports, karate? - Nope, not today. - Seriously? Well, that's rare. Well, I guess I'll see you guys at home for dinner tonight. - Yep. - Alright, love you guys. I got to get back to work. Alright, guys, the market's about to open. We're about 30 seconds out here. Save your pages. Know what you want to trade. Remember, guys, we have a favorites list for a reason. I really like Bili. It wasn't the world's best gap, but I really like Bili over that $70 area. So, again, save those pages and focus. So, what I'm doing right here is we're... The market's literally about to open in the next 10 seconds. So, we just want to know what stocks we're absolutely gonna trade. I have my battle station open and I'm just focused at this point, okay? So, we're gonna see if we can catch one or two good trades today, make 1000, 2000 bucks, and just walk away in 30 minutes. Keep an eye on Bili guys. Keep an eye on Bili. I want to watch Bili. The problem is it's right at resistance. It would be like 70 by 69 on Bili. Alright, guys, so 70 by 69 on Bili, I'm gonna type it in now. Bili 70 by 69. Guys, I'm gonna change Bili 69, 80 to 68, 80. (keyboard clacking) Change Bili, 69, actually make it 85 by 68, 85. So, guys, what I'm doing right here is I'm looking for like a one minute breakout on Bili. It could be a five minute, three bar play. It hasn't triggered yet. We really, honestly, we want to be over the $70 area, but I'm gonna sneak in a little bit earlier. I should say we already snuck in a little bit earlier at 69, 80. And, the problem is as soon as it freaking filled me, the stock immediately pulled back against me. And, why is that important? It's important for two reasons, because we really should have waited for $70 to get into this thing. So, we got in a little early and you never know, sometimes they won't break 70. So, this thing filled me 69, 80, and immediately pulled back, and I was down like four or 500 bucks on this thing. But, the good news is it held my stop loss, okay? And, if it went below it, I would have taken the stop, but it held my stop loss, and then it consolidated a little bit more, and I was able to raise my stop-loss up to 69, 25. So, I had about a $500 risk and I ended up making just about a thousand bucks on Bili. So, it turned out really nice. Why? Nice daily chart. Nice gap. Nice pattern. Nice result. Alright, so Jason's asking, hey Jared, what do you think of this breakout on Tesla, around 790 bucks? Honestly, I haven't been a huge fan of Tesla recently. It's been pretty choppy, but truth is, is like, honestly, this thing looks pretty damn good over that $790 area. Alright, so the trading day for me honestly, is over, the actual trading. I made a couple thousand bucks today on two trades. Bili was one of them, and now, it's my least favorite time of the day. I'm gonna answer emails. I get over a hundred emails a day and I love you guys. But, honestly, sometimes answering emails is the bane of my existence, but I got to get through a few emails before I do today's lecture, 'cause I do a lecture every week for our members in a chat room. Those are those awesome lectures that many of you get to see on YouTube. So, answer some emails, hit the lecture, and then I think it's time to grab a bite to eat. I don't like answering emails. It's one of the least favorite things in my day, but these, these types of emails, man, they keep me going. When somebody says, literally, I want you to know your guidance has changed my life, not just my trading life, but my personal life. Man, it doesn't get much better than that. Makes answering these emails not feel so bad today. Well, I didn't quite finish all my emails just yet, but I got to put that aside for a second, because it's lecture time. I do this every week, 30 minutes to an hour lecture for my live traders chatroom members. I put some of them on YouTube. It's the favorite part of the week for most of these folks. Let's get to. Did you get everything you need, 'cause I've been up since five. I'm starving. I usually eat at like 10 in the morning. It's fricking noon. You ready? You wanna get something to eat? - [Cameraman] Yeah. Alright, let's go, man. (beats play) Yeah, so pretty productive morning, made a couple grand, in about 30 minutes or something like that. It's interesting, 'cause everybody thinks trading is so exciting, and everybody wants to be a trader, but I'll be honest with you guys, it's a pretty boring business. It's an unbelievable business, the freedom, the flexibility, we're heading out to lunch now, and get to kind of do what I want, if you work hard for a couple hours in a day, but at the same time, it's not an easy business. You're gonna cut your teeth. You're gonna take a couple of years to get really good at this, maybe longer than that, but I guess I see everything online. Everyone's like trading's so glamorous, oh, look, he's in a McLaren, and all this other stuff, but that's not what trading actually is, man. This shit's hard work. It's kinda like when you see a professional athlete, you see them on the court, you see them dunking the ball, right? You see them hitting a 330 yard drive. You see all the good stuff. What about what you're not seeing? I mean, gosh, you know a football game last 60 minutes. What's Tom Brady doing when it's not that 60 minutes, right? It takes a lot of time, a lot of effort to get to that high level. And, most of that time and effort is when no one else is looking. You're making money when the market's actually not open. And, that sounds crazy to some people, but what I mean is you're learning the process. You're learning the entries, the targets, the stop losses, the good money management, when the market's not open, right? You're studying, you're talking to your accountability partner, your trading buddy, all that good stuff. And, that's where you're actually making your money. So, trading's a wonderful business. I would highly recommend anyone to try it, but don't come in thinking it's gonna be easy, because it's not. - [Cameraman] Do you know what's good here? - Honestly, man, everything's good here. I love their... Their crispy chicken sandwich is pretty awesome. They're grilled salmon's good. They have this pasta. Honestly, everything's good here. Their pizza's actually really good too. Can't go wrong. And, they have baller wings too. Shit, looks like a looks like I got a side... Some side-marker fault. So, I'm going to stop by the McLaren dealership, just for a quick second. Have those guys take a quick look at it. I don't think it's a big deal at all. - Great. (Jared laughing) To what do I owe this honor? - This is probably the highlight of your day, seeing me, man. - There's no conditional statement, right? I mean, why would it be the highlight of my day? - 'Cause I brought you chocolate a couple of weeks ago. That's how nice of a guy I am. - And, that was a couple of weeks ago. Today's a new day. - Well, I'm back here today. Look, I'm dropping the car off for some service and I want to know if you got anything for me today. Like, you know what I want. - As luck would have it... (Jared laughing) 675 LT. - No, it's not what I want. - 765 LT. - Show me the 7, 6, 5. Come on, man. You've been holding out on me for awhile. You've been telling me they're sold out. You can't get one. They're sold out. - Oh, you know, we give preference to good clients. - How many Mclarens do you have to buy to be a good client? I don't know, Alon, this thing... It feels pretty comfortably. I think it suits me is what I'm trying to say. - [Alon] Oh, no, it suits you. - Yeah, and it has the comfort seats which, actually, I would prefer, 'cause I'm not gonna take it on the track every day. Man, this thing's pretty freaking sweet. So, I guess the $64,000 question is, it says... It says 491 on this little sheet right here. Yeah, I have a sneaking suspicion that it's not 491 for some strange reason. Would I be right? - Well, once in awhile, isn't it the saying a broken clock is right, they say twice a day, I say once a day because I go by military time. - [Jared] Okay. - [Alon] So... (laughing) - Damn, guys, I think what he's saying is they want like a five or six in front of that four instead of the four in lieu of... - [Alon] Chances are good. - What do you guys think? Is that worth it? (everyone laughing) I gotta say for as much crap and shit as you give me, you treated me right. I've had a couple of McLarens. You guys have always done me well. So, if anybody out there, if you're into McLarens talk to this guy, Alon, at McLaren Scottsdale. He's the man. He'll do you right. (phone ringing) Oh, shit. My wife's calling, and she never calls, dude, unless there's something wrong. Hey, babe, what's up? You need me to pick the kids up at school? What's going on? You got a flat tire? Okay, is everything all right? Do you need me to come help you out? No, you called AAA? Alright, I gotta run home though, 'cause I'm not in the right car to pick them up. So, what time they need to be picked up? Yeah, alright. I gotta stop at home, but I'll get them. Yeah, alright. Good luck. If you need anything, give me a ring. Alright, love you. Bye. Alright, let's go. Dude, I don't... I don't get it, man. Since we've been married, she's gotten two flat tires, she's been in two fender benders, and the kids scraped... One of my... My son scraped the whole side of her car. So, she's had basically five things happen to her car and I haven't had anything happen to mine in that whole freaking time. So, I don't know if I'm just being mean or if maybe, maybe she doesn't care as much about cars as I do. I don't know what to say, but... It's expensive, that's all I got to tell you. - [Older Child] What are you doing here? Why are you picking us up? - Whoa, whoa, whoa, 'cause your mommy got a flat tire. Is it okay that I pick you up from school? - Sure. - Sure? - I guess? - You're not happy to see me? Ty Ty's happy to see me, right? Yeah? So, hey dude, how was your day at school man? - Good. - Yeah? Did you get a gold star, or did you get a frown face, or a smiley face, or what? - [Ty] We don't do that. - You don't do that anymore, but you didn't get in trouble, right? No, you're a good boy? Alright, how about you girls? Did you have a good day at school? - [Older Child] Yeah. Yeah? Anything exciting? Ah, you want to stick around for some dinner, dude? - [Cameraman] Yeah, I'm down. I mean, I've got some steaks here, and the kids are sounding pretty hungry, so... Figured I'd throw something together. - Hey, beautiful, what you doing? - I don't know. - No, you just hanging out? - Yeah. - Yeah, you want to help me cook? - Sure. - Yeah, have you ever barbecued steak before? - No. - No? You want to help me flip them? - Sure. - Yeah? So, handle down, we take it, flip it over. Oh, that looks nice. That looks nice. That looks nice. Alright, you flipped that one. Go ahead. Go ahead. - This one? - Yup, go ahead. Turn it over. There you go. Good job. So, I hope you guys got a little glimpse into my day-to-day and honestly every day is a little bit different. The one part of my day that stays pretty much exactly the same is my morning routine, waking up early at five o'clock and then heading up to the office there, and doing my morning gap list, and then running the chat room, trying to make some money, answering some emails, that part stays pretty much the same. And, I hope you guys got to appreciate how I scan for stocks and things of that nature. And, then, today was a little bit unique in that I had to pick the kids up from school, my wife got a flat tire. I had to stop by the McLaren dealership, and get some updated codes, and all that other stuff. But, you know what? That's the beauty of this lifestyle, right? I mean, not everybody gets that kind of flexibility. I get to see my kids before work. I get to see my kids after they come home. I cook dinner for my kids. We have dinner together. That, to me, that's worth more than the money. I've been fortunate to be successful. And, everybody looks at the lifestyle, but the truth of the matter is, forget the material stuff. It's the time you spend with your family, the flexibility. I get to go out and have lunch when I want, I get to go pick the kids up if I want, I get to go spend time with the family and the kids kick the ball, whatever, right? That's what it's about for me. And, I hope you guys can see that, that I get it, there's a lot of single folks out there, and you want to go get it, and have all the cars, and all the houses, and I like those things too, but at the same time, I just want to be a better dad. I want to be a better husband. I want to be a family man. And, trading has allowed me to do that, but just keep in mind, everything you saw today, that took a lot of time, man, a lot of work, a lot of effort. I mean, it was years in the making. I've been doing this for 16, 17 years. You guys are coming in and you're hoping in three months that you're gonna kill it and crush it. Like I tell everybody, if you break even your first year in trading, you had a good year. You were successful if you break even your first year, so you can do this. You can have all this. You can live the life, and have the nice cars, and have freedom, and flexibility, and not have a boss, but you're gonna work for it, man. This stuff ain't easy. This isn't some Google advertisements that you're seeing out there. So, anyway, I hope you guys enjoyed this video. Please, put some comments down below, if you want to see more of these types of videos, or if you have anything you want to comment on in my lifestyle or this or that, just let me know, and see you guys again next time. (upbeat music continues)
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Channel: Live Traders
Views: 766,749
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Keywords: my life as a day trader, day trader lifestyle, day traidng lifestyle, my life, day trader, day trading, stocks, stock market, trading the stock market, trading the market, earning money, easy money, hard money, wall street, finance, learn to trade, learn how to trade, learn to day trade, day trading is fun, learn stocks, learn options, learn the stock market, profit from the market, best day trading strategies, freedom, flexibility, money, time, be your own boss
Id: lT7WvWLY-BQ
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Length: 20min 44sec (1244 seconds)
Published: Tue Jan 04 2022
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