The Only Day Trading Video You Should Watch... (Full Course: Beginner To Advanced)

so you want to become a day trader no problem I can help you out with that so let's go yes yes yes what's going on ladies and gentlemen today we're going to talk about how to become a day trader pretty much a to z okay what you need and also I'm going to show you guys a couple of Trades that I took to help you understand um how I'm looking at the market all right so what is a day trader a day trader is basically a person that comes in the market and that person is looking to capitalize on short-term movements okay so for the most part you're looking to hold a trade maybe four or five ten sometimes an hour or so but you're not really looking to hold all day now there are trades where you can hold all day but honestly they are rare and they don't come every single day for the most part you pretty much want to be in and out and we're going to talk more about that now the good thing about being a day trader is if you have Wi-Fi you can trade anywhere around the world so a lot of times when I'm on vacation I'm actually day trading and honestly if you know the market you understand the market you don't really need to day trade all day you can actually day trade for the first two hours and you're done for the day and you can actually enjoy your vacation so we're going to talk more about that so let's talk about the first thing you need to do when you are trying to become a day trader the first thing you need to do is actually open up a demo account right and you can get that from your broker now I know a lot of people that's watching me are trading different markets some of you guys are trading the stock market options right some of you guys are trading Forex some of you guys are trading your futures market and some of you guys are trading uh crypto so when it comes to trading those platforms your broker should have a demo account that will help you trade the market with paper money now a demo account is pretty much a practice account and that simply means that you are looking at your chart right and you are looking at the live market but you are not risking live money you are risking paper money so your broker is going to give you paper money which is not real money and that will help you understand how to get in get out understand all the functions and everything when you are trading so you can actually look at the live market and practice your strategy without risking any money and that's the good thing about day trading now this demo account is very good because you need to practice your strategy because you are competing against professionals imagine if you never play football in your life and someone came to you and say Hey listen I'm going to draft you to the NFL and I'm going to give you only a week to prepare and you're going to play with professionals do you think you're really going to perform at a high level and the answer is no so you need to practice first same thing when it comes to trading the market the demo allows you to practice because if you just open up a live account and go straight in the market guess what you're going to lose your money because you are competing with billionaires millionaires math Wizards scientists experts we're talking about the smartest guys on Planet so you need to practice first now let's talk about a couple of Brokers that you can actually look into you don't have to use them but you can probably look into now if you're trading stocks and options you could probably look into TD Ameritrade or interactive brokers if you trade in Forex you can look into oanda and a lot of people like hanco trade for their Forex broker even though that's unregulated now when it comes to trading Futures you can look at amp futures or tradovate and those Brokers will help you set up your demo account now once we get that out of the way we need a strategy to trade the market now your strategy should be all about number one the context we're going to talk about that later number two key levels number three entries number four exits and number five risk management and we're going to talk about all these things right now so let's talk about context right the most important thing guys when it comes to trading the market is understanding Market structure I tell my students all the time Market structure is King because if you don't understand the direction of the market I don't care what strategy you're using or what setup you're using you're going to always lose because let's say for example the market is going up but you see a reversal candle and you try to go short and go against the trend guess what you always going to get stopped out and lose money so you have to understand the context you have to understand it in real time is the market trending is it ranging is it about to break out is it about the reverse right we need to know these things because if you don't know these things the market will trap you I remember when I first started out I was always obsessed with the trend and I'm quite sure a lot of new Traders are obsessed with the trend too because you hear that the trend is your friend and that is true but sometimes the trend will not be your friend because it will end and you have to know or at least see some signs on a chart that will tell you okay you know what the market looks like it's about to reverse now let's go to the Whiteboard real quick now when it comes to a trending Market you know pretty much what you're looking for is higher highs right and higher lows right for uptrend and another way to look at this is you can plot a either 20 moving average on your chart or a 50 moving average on your chart right and those moving average will help you identify the trend right away what I like to do I like to actually plot a trend line okay at the swing lows if the market is going up and that will identify or help me identify the trend too now right here we have the 50 moving average on the chart and notice how when price goes below that 50 moving average you can say the market looks like a bearish market meaning it looks like it's going down and when the price goes above that 50 moving average we can say the market is in the uptrend because it's above that 50 moving average again you can use that or you can use a trend line now for a range and markets right we're looking at highs and lows so if the market is basically going like this going sideways right is good to look at the highs which is resistance then look at the lows which is support okay and we can look to get in at the bottom and get out the top or get in at the top and look to get out at the bottom and that's pretty much the whole concept now for a breakout Market you're pretty much looking for the market to basically be in some type of trend right and it's going to probably consolidate and when it's consolidating meaning going sideways that usually means that the market is resting a little bit and it might make another move to the upside so if we see this break out to the upside that's a strong possibility that the market will continue to go up so you have to understand this when you are trading live now another thing you have to understand is when the market is about to reverse now there are a lot of reversal patterns out here we're talking about double tops head and shoulders right now we're only going to talk about the head and shoulder pattern okay so let's say the market is going up right and basically the market makes a peak right here and goes down and makes another Peak right here the reason why they call it the head and shoulders is because we got a head right here we got the left shoulder right here and we have the right shoulder right here and this is a reversal pattern that will help you understand you know what the market looks weak I don't know if I want to continue to take Longs anymore so let me just wait until I see more confirmation and this will help you out a lot because again remember when I first started out everybody said the trend is your friend so guess what I ignored all the different states I ignored when the market was reversing I didn't care about reversal patterns all I wanted to do was trade a trend but when you see different type of reversal patterns that will help you say you know what I don't think I should trade with the trend right now let me look for a little bit more confirmation and trust me this will help you out if you're day trading right so the head and shoulders is a possibility that the market will have resistance right at this left shoulder right here and drop back down okay and you know Katina go down okay so that's context now let's go to the next thing which is key levels now key levels are very important right and we're going to talk about why it's important but when it comes to my key levels I use price action I love to use price action because it's something that doesn't lag when you are using indicators a lot of indicators lag price action is basically going up with price and that's what you've seen with the candlesticks right so price action is basically the patterns that the chart makes when price goes up and down okay and we need those patterns because those patterns repeat over and over and over and that's what's going to help us create that edge that we need for us to be profitable in the market now the reason why key levels are important is because you need consistency right in order to build consistency you need to do something over and over and over so let's say that the mom Market is going up right here right and it's going up right here and since you see the market going up you buy right here a lot of times if you see the market going up you buy right here it's going to go right back down so that will make you lose money and you don't want to do that so you want to have a strategy that's going to build consistency and build good habits that will help you make profits in the market so when you take random trades like this guess what you're going to get random results and we don't need that so what key levels do I use right there are tons of key levels you can use I use supply and demand right and I use support and resistance now supply and demand is basically aggressive selling and aggressive buying so let's say that the market is going up right here right and it pulls back we're looking for aggressive buying right here right and when we see this aggressive buying for the most part I'm looking for multiple candles in a row right a lot of time the market will move so fast it has to pull back to these key areas right here okay and a lot of times it will come back to collect some more orders and when they collect more orders the market usually goes up depending on if you see you know a decent buying at that zone now this is called Demand right and when the market is going down it's called Supply right and we're looking for the market to come back to this aggressive move so it started to move right here we're looking for it to come back and looking for some type of reaction now let's talk about support and resistance support and resistance basically we're looking for the market to come to a certain level and we're looking for the market to react to that level so let me show you guys what I mean so there's pretty much two type of support resistance we have the swing lows so the market is going up right here right so we have swing lows right here okay so let's say the market comes back to the swing low right here right it's a possibility that buyers might come at this level right to bring back up the market so you can use a single swing low or a single swing high for support and resistance another way you use support and resistance is if you see the market rejecting level more than once so right here let's say we have this Boom the market come here and reject this level again boom comes here rejections level again boom so we have right here resistance because it can't go above and then below here we have support okay because it's supporting that price so we use these levels while we are day trading because it helps us build an edge and that's what we need for us to actually make money in the market now I actually do have a supply and demand indicator for people that don't understand it at first that supply and demand indicator could help you get your feet wet you don't need it you don't need to rely on it I always tell people learn price action because it will help you out tremendously when you're trading but if you want something that will help you or assist you in the beginning this indicator will help you and the reason why I love this indicator is because it's based on price action okay usually most indicators are lagging you know like the RSI nothing wrong to our side you can still use it but it's still lagging okay but the indicator I'm about to show you guys it is dealing with strictly price taxes so you see the D which stands for Demand right now notice how we have multiple candles in a row that's what we're looking for when we're looking for supply and demand and the reason why we're doing that guys when we're looking for supply and demands because we're looking for big players okay big players to actually come in the market and push up the market and that will help us or guide us or let us know okay there's a possibility that the market will continue to go in that direction if it pulls back to that key area because guess what in order for the market to go go up that much you need a lot of money and we the retail Traders okay we can't push up the market I don't care how much money you have you cannot push up the market when we see that we can say all right big players are in the market if it comes back to this level then it's a strong possibility if we see a decent reaction it will continue to go up in that direction so right here we have a pullback to this demand level right here boom and the market went up you could have scalped this real quick and then notice how we have another Demand right here okay and the market pulled back to the demand level and then it went up and actually we have another one right here okay the market uh created this demand level right here went into this demand level and then pushed back up now this is a private indicator and it comes with my trading program for free so that will help you get your feet wet now again I told you guys you do not need to rely on indicators price action is where it's at but I know some of you guys need to get your feet wet let me show you guys another example now this is Supply okay remember we talked about demand which is an up move Supply is a down move so when it comes to day trading you can actually trade up moves and down moves you can make profits as the market is going down and you can make profit if the Market's going up so the Market's going down right now notice how we have this yellow candle pretty much the yellow candle is when the indicator is showing us aggressive selling that is where the market started the whole move okay that's what it started the aggressive selling so we had that aggressive selling right here we can draw our zone right here just notice how the market came back to that aggressive selling that's what we want we want the market to come back and boom it reacted to that aggressive selling and it went down now this indicator comes with short confirmations so notice how it gives you short confirmations right here at that zone now these short and buying confirmations are only good at key levels you do not want to take it anywhere when it's not at a key level that's what I told you guys before when it comes to day trading or trading in general you only want to stick to key levels okay now came to this can you go right here you got a short confirmation now notice how it went down created Supply right here came back boom this short confirmation right here and it went down so this is a good example of supply and demand now let me show you guys a nice example of support and resistance okay guys so here's a resistance trade the market is going down it came back to this key level remember we need key levels resistance right here and the market sold off at resistance we're going to talk about entries later and we're going to talk about exits later but I just want to show you guys this quick examples of resistance and support so let's go to a support example so right here guys we have a support example right here the market is holding that support level and it bounced off of the support and you're looking for profits right okay so now let's talk about entries how to get in the market so let's go now if you know me by now you know I like to keep things as simple as possible so we're going to talk about a simple way to get in the market so we could look at a rejection bar right here to the left or a nice bullish bar right here okay and this is when the market is going up again remember I told you guys before we can actually make profits when the market is going down too so we're looking for a nice rejection bar if the market is going down or a nice bearish bar if the market is going down okay so let me show you guys some examples on the chart and I'm gonna show you guys a trade that I took today using one of these candlesticks so right here guys we have support okay when the market breaks that resistance that resistance actually turns your support now okay so we have support let's zoom in real quick notice how the market pull back to this support right here and we have a nice what rejection bar okay I actually took this trade too and how you want to get in is basically you want to wait for the bar to close and the next bar which is this bar right here guys it has to go above that Candlestick that Candlestick High the wick so once it goes above that Candlestick that's when you get in all right we're gonna talk about exits later on okay so when we get in we have to set our stop loss so where do we want to set our stop loss and first what is a stop loss okay a stop loss is basically something that's going to protect you from losing a lot of money okay so for example let's say you want to only risk 10 on this trade you can only risk 10 dollars on a trade or let's say you only want to risk 100 on Instagram guess what you can risk 100 if you use a stop loss now if it comes to your stop loss okay let's say price comes back down right and hit your stop loss which is below right here then that's when you actually lose out now when it comes to trading trading is all about probabilities it's all about understanding that you will not win every single trade you have to understand that so for example let's say you take 10 trades in a row you might win six trades out of ten so you have to understand you will lose some trades but as long as you have an edge in the market and as long as you can actually have something that will give you a decent risk to reward when it comes to your risk management you can actually grow your day trading account that way okay we're going to talk about that later so this is a nice example of a rejection bar so let's go to another example okay so right here we have a range and market right the Market's not going no it's go up and down up and down so we have support right here right it came to support right here it bounced up boom gave us this nice demand level now when it comes to key level I forgot to mention this when we were talking about key levels another thing you can do with key levels is you can combine them with other key levels okay so another key level could be trend lines moving averages or support and resistance right so right here we have support combined with demand so the market shot up right here created demand gave you this nice bullish bar right here okay and after that it created another domain right here it pulled back and gave you another bonus bar right here and as soon as you see this bullish bar wait for it to close wait for the next bar to actually go above that and boom okay we're gonna get in the market now we're going to talk about exits okay so when it comes to exits guys so many ways you can exit the market okay but we're going to keep it as simple as possible you can go for a fixed two to one when you are day trading the market okay so that basically means that let's say you're risking 100 you're looking to make two hundred dollars the reason why you want to do something like this is because let's say for example your strategy this week gave you a 50 win rate with a 50 win rate you can still make money because every trade that you take is actually two times the risk so let's say you lose five trades and you win five trades so those losers will add up to 500 and the winners will add up to one thousand dollars so you basically have your winners which is one thousand and you subtract that with the losers which is 500 and I will leave you 500 in profit and that's how you stay in the game okay you definitely want to have your winners bigger than your losers now there are times when you can actually make more money than that where you have your winners Rod even more but in the beginning when it comes to day trading you need to keep things as simple as possible especially if you are a beginner because a lot of things can confuse you now when you get a little bit more advanced okay you can look at the market and look at the trade and say okay this is only going to be a scout trade I'm a scalp it because I don't like how the market is looking okay so usually when I go for a quick scalps it's usually either I'm late in the trend or the overall Market is slow that day okay but let's say that the market is looking like it's breaking out it's trying to make new highs maybe you want to hold a little bit more and you can have a strategy where okay the market is breaking out it's making new highs I'm gonna hold a little bit longer so that's when you can actually have more advanced strategies where you are not fixed right your strategy is not fixed you have a deeper understanding and understanding what the market is doing in real time and you can actually hold for bigger targets but in the beginning I usually tell people listen let's keep it simple a fixed two to one will help you out so now let's talk about risk management so when we take a trade guys right while we're in the trade we have to know beforehand how much we want to risk on that trade okay and when you're first starting out okay it's best to risk the same amount per trade so let's say that you take I don't know five trades during the week every single trade you have to risk the same amount so let's say you want to risk 20 on that trade or every single trade guess what Monday got to be twenty dollars Tuesday got to be twenty dollars Wednesday Thursday Friday it has to be twenty dollars okay now there are some Advanced strategies where you could risk more on certain trades right so this is more for experienced traders that have stats to back up why they are risking more some trades I risk a little bit more because I know that this trade might work out better than other trades okay but this comes with experience so when you first start off you really don't want to do that you really want to just have a fixed risk per trade now a lot of people will say risk one percent of your account I don't really follow all that risk management strategy what I like to tell people is listen man risk as low as possible okay because think about it let's say for example I don't know you're blessed with a lot of money and you put 100K in your trading account one percent is one thousand dollars now if you're new to the market and you lose one thousand dollars I don't care how much money you have that's gonna affect your day trading because you're not used to losing you know one thousand dollars that quick so the best thing to do is get your feet wet of course you want to go on demo first then when you go to live all right you want to risk as low as possible so if you can risk 20 per trade or thirty dollars per trade in my opinion it's best to do that because that will help you stay in the game longer and it will help you in general because when you first trade live guess what you're gonna make mistakes so why would you want to lose big money when you are trading live and you know you're going to make mistakes so the second thing you need to do is you need to have a daily loss limit so let's say for example you risk 100 per trade now if you want to give yourself 410 answers for that day all right four chances equals four hundred dollars so when you are down four hundred dollars for that day you have to stop and the reason why is because this will protect your Capital because if you don't have that in place and you keep trading and trading and trading you can dig yourself in a big hole and you don't want that so you need to have a daily loss limit if it's sixty dollars if it's four hundred dollars I don't care what it is have a Max loss for the day if you hit that mass loss boom you're done for the day and you wait for the next day right now what time frame do you want to use when you are day trading the market I personally like to use the five minute chart trust me I use the 30 second chart I use the 10 second chart before I even try to use the five second chart before I tried a lot of different time frames okay the five minute to me is The Sweet Spot I see a lot of new Traders want to go to the one minute chart and they're trying to look at one minute candlestick guys you can't do that unless you just bind a level and you're using that level as risk then you could probably use the one minute chart but if you're using a Candlestick to actually get in the market then one minute candlesticks is not the way to go okay to me the five minute chart is a good place to start trust me on this one now let's talk about what time to trade because you need a specific time to trade this is very important you can't just randomly go in the market and say oh let me just take a trade no there's certain times during the day you need to be at your desk because those are the times where you probably are going to find better opportunities okay so if you're trading Forex 3 A.M okay eastern time which is the London session is a great time to trade in New York session that's 8 A.M eastern time that's a good time to trade why is because that's when the volume comes in the market you need to trade the market when the volume comes in because we are day Traders and we need the market to move right we need the market to move up and down and that's how we make our profits now if you're trading stocks indices options you're going to trade at 9 30 a.m eastern time okay that's what I'm looking at pretty much for the most part and I'm looking for the market to open around that time and I'm looking for opportunities so let's put all this together but let's look at a quick example of my trade that I took today okay so this is what I saw today okay we had a head right here we had a left shoulder right here and we had the right shoulder right here remember I told you guys before when it comes to the market you can't just look at the market as a trending market and that's it you have to understand reversals and the other different states we discussed earlier okay so what I saw today was a nice head and shoulders pattern okay so when I saw that I was looking at the market when it hit this left shoulder resistance notice how we had a nice let me zoom in for you guys so you can see okay notice how we had a nice rejection bar right here okay let me zoom in a little bit more right here nice rejection bar right at that left shoulder resistance I got in okay and I actually got out right at support okay and if you look to the left I'm up 959 dollars for the day now this is a good example of looking at the market understanding the context understanding what the market is doing in real time looking at a key level and looking at a Candlestick to get in the market and boom you take the trade and you look to exit okay now the reason why I exit at that support level is because overall The Head and Shoulders is a reversal pattern so for the most part I believe that it should at least hit this nice support level right here okay now let's talk about a couple of more things that will help you with your day trading before we wrap this up first thing is back testing guys you have to back test so once you create your strategy you have to go back on the chart and look at the chart and look at key levels and look how price reacted to those key levels and you look if that was a loser winner how far the winner went you know um how far you can hold that winner whatever the case is you have to back test because when you back test guess what that's going to help you with your confidence right you're gonna see wow this strategy is working in so when I do trade this strategy live even though I might be nervous I know that this strategy works right and that's what you need now the second thing I want to talk about is when you are consistent and you you know start to build up your trading account you're going to see your profits to grow right and naturally you want to increase your size right so you can make extra money and that is a good thing now when it comes to that though guys please do not try to increase your size a lot all right so let's say for example you're risking 100 you don't want to go to 100 all the way to 500 no increase it little by little so maybe instead of 100 maybe you want to increase it to 120 right and then maybe 150 little by little because I'm telling you right now if you increase it a lot man when those losers comes because remember what I said before every trade is not going to be a winner but we can still win if we have an edge and if I winners is bigger than our losers yes but we are going to have loses so we don't want our losers to affect us so if you are not used to losing 500 and let's say for example you lose two trades in a row man that's really going to get to you so you don't want to go up that fast you want to go up little by little now the next thing you want to talk about is you have to keep a journal after Journal your trades and take screenshots and reason why is because you want to basically track everything and I talk about this in my trading psychology video please check that out but you want to you know Journal everything you want to journal your behavior you want to you know see if um you know what's working what's not working and you want to actually look at your trades because once you see wow every time I take this trade I'm winning 9 out of 10. and the only way to know that guys if you take notes okay let me ask you this how can you actually improve if you don't know the exact problem it's impossible so in order to know the exact problem you have to take notes so you can say oh yeah this is the reason why I'm losing right here trust me guys that helped me out a lot in my day trading career and I actually took my day trading career to a Next Level because I knew okay this wasn't working I had to remove that from my strategy so guys and girls please take notes right and the last thing I have to say is keep things as simple as possible please don't try to complicate things guys keep it as simple as possible and honestly I want you guys to grow good luck with the day trading journey and let's do it let's prove all the haters wrong because trust me you're gonna have haters it's just what it is let's prove them wrong keep at it and don't give up if you enjoyed this video hit that like button hit that subscribe button if you want to learn more and go deeper with this day trading career I do have a Trader program check that Below in the description actually to indicate it comes with it for free and I have a black history cell going on so make sure you take advantage of that before that ends if you have any questions comment below because I try to answer all you guys questions thanks a lot for your time and please have a great day

Channel: Day Trading Addict

Views: 1,675,705

Keywords: Trading, Day Trading

Id: gqp9tH5p2xU

Length: 31min 30sec (1890 seconds)

Published: Thu Feb 23 2023