Nighttime is where the real money is made.
While you Netflix, someone is up getting ahead of you. They are charting, scanning, backtesting, mentoring. Most traders spend more time clicking buy/sell buttons than they do studying.
Real money is made when the markets are closed. Best traders I have ever met spend a small percentage of their day trading. The majority of time is spent learning, growing, building your business.
Define Your Routine
If you’re a swing trader- Your time is spent developing scans/building watchlists/journaling past trades/studying big winners
If you’re a day trader- Your time is spent Journaling trades/Building new momo scans/studying sectors or themes/Flipping through as many stocks as possible to see where the momo is coming from
Every trader needs a routine. You need to be in a rhythm of success. Winning habits need to become automatic for you.
Things to do EVERY Night
Run Liquid Gainers Scan Every Day
This will show you what has momo. Pay particular attention to stocks that do 10m plus volume or 5x relative volume. Use the volume buzz column on tc2000. https://www.tc2000.com/~dGBwCK
Run through Your List of Goto Stocks
This list should be pruned each month. In any given month there are only a handful of true momo stocks. So put them on a list and watch them every single day. Stocks like $roku $crwd $jnug I’ve made hundreds of trades this year on each. Once a stock has an expansion in range and starts to move it will give you a big uptrend to trade for months. Then when it reverses the range will still be big and you can short it.
Journal Your Trades
You can make your own or use a 3rd party software like TraderSync this will save you tons of time and give you access to stats that would be hard to compute on your own. Using tradervue will save you tons of time maybe 30 minutes a day. Use your journal to find out your Goto Setups. This will train your brain to your best setups. Stay away from the stuff that keeps you in trouble. Double on on the frequency of ones that make you money.
Define Key Infliction Points
Where is the key levels. Just because you hit a level doesn’t mean you buy. You still need a pattern around that level. They must be marked out. Then the patterns are based around the levels.
If you have a hot pattern but you take it under a key level that pattern could fail. You must know all the angles. If you’re putting stocks on your watchlist and think you are just gonna wake up and trade a flag. YOU WONT WIN.
Define Bullish/Bearish/Neutral Case Scenarios
Write out bullish/bearish/neutral case scenarios to the market and your watchlist. You must have longs and shorts each day in an up and down market. In an uptrend market, it’s not as important. In a range-bound market, plans change in a minute and you need to have shorts & longs.
What was your homework? Did you talk with other traders? Check-in with your mentor? Read a book? listen to a podcast. if you are not learning, you are not earning.
Are You Willing to Do Whatever It Takes?
Do you have the resources to succeed? Do have the desire to change your situation? Often times it takes massive action to get yourself to shift out of a rut. MASSIVE ACTION Do you have the team?
Often times friends, family, co-workers will hold you down. Are you willing to CUT negativity out of your life? Do you have someone who can push you? Over 10 years in this business. I’m still on it. Best job best business in the world but you need to lay it all on the line to get there. Are you?
5 Must-Watch Trading Videos for New Traders
There is so much noise and information on the internet about the stock market for new traders. One of the most common questions we get:
Where do I start if I am a brand new trader?
It is imperative that you get educated before you risk your hard-earned money in the market. You have to learn before you earn. This blog will teach you everything about the stock market and trading to get you started. It will cover the foundational knowledge you need before placing a trade in the markets!
The videos will go in order from basic to advanced. You’ll learn:
-Stock Market Basics
-The Different Styles of Stock Trading
-Intro to Technical Analysis (Language of the markets)
-Best Charting Software
-One of Our Favorite Day Trading Strategies
Take time to watch these videos at your own pace. They are not long, only 10-15 minutes each:
Complete Introduction to the Stock Market
What is the stock market? How do you buy and sell stocks? How does the stock market generate wealth for investors? All of the stock market basic questions will be answered:
Different Styles of Stock Trading
There are many different styles of investing and trading. Day trading. Swing trading. Long-term investing. This lesson will explain the differences, and how to choose the best style for you:
Intro to Technical Analysis & Trading Indicators
Technical analysis is the language of the markets. It is the most important analysis you need for all your trading decision making:
Best Charting Software for Active Traders
Now that you have a basic understanding of the stock market, it’s time to discuss what software and tools you need to succeed. Charting software is one of the most important tools of a trader. Learn the best free and paid trading software to use:
One of Our Favorite Trading Strategies
Every trade you take needs to be aligned with a strategy. Strategies and patterns create an edge for you in the markets. This is what separates trading from gambling. Check out the flag pattern, one of our go-to trading strategies:
While this information is great to get started, there is still a lot more to learn. Our day trading and swing trading communities have been around for 13 years. Taught by experienced traders, they are designed to provide all the support and mentorship you need to become a successful trader!
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