I agree. The market "warms" up. I have noticed around 1030-11am is when trading really increases and after lunch around 1245-130. Also the market relies very heavily on government opinion and policy for certain sectors. So the morning news and the afternoon new breaks heavily influences the market. Have to have patience...and of course your late afternoon "rally" which starts at about 245 to closing. I have seen some amazing rallies at that time.
Day trading makes me my own boss. I can do what I want. That's why I love it. I also love sleeping in. It took me a while to realize that getting up at 5:30am (West coast) was actually required. I lost a lot of money trying to trade the after lunch session. Once I started trading in the early morning, I became consistently profitable. Trading the morning is so much easier than after lunch. That's my input on something really simple that made a big difference in my trading.
I start trading between 7:45 and 8 am PST and I trade the 5 min chart. Starting at this time allows the 15 - 1 hr range to establish for the most part. I then assume my stock will likely trade in that range the rest of the day. It takes some major volume and most ta indicators showing breakout to get me to trade a breakout of that range. 80% of the time I will trade assuming the established range will hold and tighten. It does MOST of the time.
Yup... I've seen that range too in up and down gappers, from 8 to 9:29... It usually keeps bouncing in this channel (premarket hi'n'lo) until there is a breakout or a downfall between 12 and 14hrs... and 10% of time stock goes right above premarket high and keeps slowly on and on, for the rest of the day session... and 10% times the opposite... Just statistics
I defiantly can relate to this. Recently have been being more patient and letting the trades play out before i enter my position and has definitely payed off! Great content clay, keep it up.
treading became my passion, love how it allows me to to be in control over my day, time with family and so much more. yes, totally agree with "context" you got to have more information before you take a tread. for me i need 3-5 min in for confirmation. thank you clay.
Totally agree with you on waiting for some “context” it’s very very true ... gotta see the chart to understand if the stock is ready to trade at new price level or if support is strong ... however I have been trading since 96 , I use OHLC (bar chart) and it’s really the same thing as candle sticks you can see the same identical thing .. except candle fills in a pretty color to help you tell if it was bearish or bullish .... I’ve tried to use them but can’t stand candles ... it’s really just a matter of preference ... candles in my opinion are like training wheels ... similar to MACD indicators ... I use my 17 and 50 day I’m only in a stock who’s shorter term average is diverging from the longer term .. it indicates an acceleration of momentum. ... it’s all preferences but I like to keep it simple and clean charts ... to me nothing beats wAiting for a tight pattern .... tight patterns are key .. loose sloppy up and down , yeah may make a quick dime or two but ... a mature stock the trades tight either for several minutes for day trades or days for swing trades ... that has all ways been a money maker for me ... anyways ... thanks for the videos !...
I had a good trade today that was based on volume...the scanner I use shows when a stock is getting close to a pivot, so a stock came up on the scanner and I went to check it out... I don't know why, but the volume in this stock went from, as an example, a small house made out of legos to a tower like the Wynn hotel in LV...and they were coming up side by side green...it just kept going up for about 2 minutes (and that's a long time in a move)...so I look at volume like water pressure...I mean you can have 5 green candles in a row and the stock could be going completely what I think they call sideways, because there is no volume...and I'm not even at trading with real money yet...just paper trading until I have a bit more time under my belt...I'm taking a screen shot of my end of day and putting it in a folder, as well as end of week final results showing the YTD for that week...get some data to see how I'm trending...for me right now, I just want to be in the black every week...last week ended great, this week a little down for the week...one of those "the market didn't totally slaughter me, but I have taken some hard hits that, if I live and learn, it won't be as easy next time for it to happen again, and if it does, I will catch it faster"...I'm learning that it doesn't cost anything to hold back on jumping into a trade and just watch it move and see what happens if you feel that "should I or shouldn't I?" feeling...there will always be another trade...hey, thanks for sharing your pointers in this video, and hope you and yours are well!
You're on the right track. Just a head's up, and you've probably heard it before, but it's seriously real... live trading is very different from paper trading. It's like the difference between a playing a flight simulator on your console and getting into the cockpit of a real jet. When you go live, reduce size and "practice" with that until you're comfortable with all the emotional turbulence that will be there. Good luck.
I agree with your points Clay. And the first 1 minute is not for everyone. I’ve done very well buying the first minute. My 1st minute trades are 90% accurate. However, that said there’s some conditions that have to be met to pull it off. 1. It has to be a stock most people are watching. 2. It needs to be low float. 3. It needs to have a bullish pattern overall, and 4., ideally should have the vwap, 9ema, and 20ema close underneath. Quick stop, wait for confirmation, and price action will guide you whether or not to push the button. Also knowing when to get out is important, as the first minute often pumps and fades, you have to be ready to hit the bid if it starts turning around. You can make 30, 50, or even whole dollars per share on this with a tight stop making r/r high. Again this is not for everyone, and is a completely different strategy as most of your viewers probably trade high cap stocks, but it works in the low float realm. I’m just saying it can be a viable strategy in the right circumstances.
ess mac In this case confirmation is the buyers coming in. I have my time/sales set to below ask dark green and ask or above bright green. When I see a bunch of orders on the ask come in is usually when I hit the buy button. Technical and news is good but I just need the 3rd thing which is people are buying this stock.
@@smacpost3 if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
With some orders set to fill at the open, the first few minutes is not necessarily indicative of how a stock will perform that day. I prefer to wait and see what happens when the market has shaken itself out. If a strong stock that was gapping-up breaks out, I might buy a micro-pullback, but I prefer to buy stocks near support that are starting to curl-up and regain momentum.
obviously a good trade selection criteria is essential and we all have different approaches, but I would say a simple and powerful method of improving your results is to trade less. Trade the trades that jump off the screen at you and beg to be traded. If you find yourself trying to justify a trade decision trust me get up walk away come back another day.
From what I've noticed, when the market just opens up, it straight up crashes, so yes, it's best to give it time to let you know where it's heading, cuz seconds in -- it's hella volatile.
yeah, recording my trades and reviewing them at the end of the day with a clear head made a world of difference. I still struggle to make myself do it, but it makes a big impact in creating good habits, becoming aware of bad ones etc.
Excellent video Clay!. Waiting 1 min or 2 to get context can save many random trades. ' When you are not making random decisions, you are not gambling' Well said.
Yup it's the simple things that make the big difference in trading. If you can't make money with candlesticks, volume, and a stock in play, all the indicators in the world aren't going to help. Having hard and fast rules like waiting for the first 1 min candle to form or for some known pattern to emerge before getting into a trade will make a much bigger difference than indicators. Good video Clay!
Please explain how you trade with 1 min candle context and gaps at opening of market.......And how gap ups and gap downs effects first 5 1min candles. Which is the better entry point in scalping??
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
Im almost tempted to use a 2min on opening and if its bullish buy with a 1% trailing stop loss ? And opposite if its barish what do you think of that strategy? Even at 50% I should make nice gains with a trailing stop loss?
I was confused about that too. I stopped doing that and stopped placing orders to buy at open based on pre market because sometimes it just drops so much at 9:30. I wait now a few minutes. If you notice Clay and Ross just get an idea about the stock pre market and say something like “I’ll buy at 9.30” when it’s at like 10 dollars because they get context of where it’ll go based on pre market chart.
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
true, learning this the hard way all the time. the imbalances you have to deal with.. sometimes the spread is like 40cents... first 1 or 2 mins.. patience...
I’ve learned a lot so far this past week but everything is still new to me and when people speak it still sounds like Chinese ...If I’m consistent, one day everything is just gonna click and make sense...but I’m not there yet so I’m not gonna spend a dollar in the market until I actually get it ... like learning a new language it still sounds foreign but I’m learning more and more everyday...I’ve only been in it for a week
A little secret for you. Professional trading is about "Position structure" Give me the current price of the stock and I can make money without even looking at a chart. It's all about how you structure your position...
This whole idea of chart patterns being the reason why price moves is ridiculous. For every "pattern" that worked in you favor I can show you an equal amount that went in the opposite direction. People just like looking at pictures kinda like a magazine and snake oil sales men use these pictures the sell courses. Look at one stock on 5 different time frames and every chart will look different so which one is the "key". Prices moves based on the next transaction hitting the offer (sending the price one tick higher) or hitting the bid (sending the price one tick lower) and that's it. Nothing to do with these pictures you see on the screen also known as charts.
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
As a new trader myself, this and also risk management is the most important thing. I'm going to make more losses than buys the less experience I have, so to not get discouraged it's important to keep those losses low for me (for me it's the amount I can refill with my savings every paycheck). Also I got a stress ball, that helped haha.
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
Thank Clay, thank you for responding yesterday.... that’s rare with some of the people selling their course. Clay, 5 months ago, I bought into a course that helped me learn how to read price action and how to short stocks. I like what you teach and seriously thinking about joining your group. What I’m not getting is how to read and jump in a trade bc everything is so choppy and not seeing any big moves, even with stocks that have lots of volume. I just make little trades that has some winning, but others where I lose.... I am paper trading using TOS...... I feel lost a little bc I don’t know how to find good trades in this market that are not choppy.... is there things you do in your training that would help? Thank you clay
Find just one or two stock for a while and see how they play out over time, a good few paper trades will help. Practice learning about good entry and exit points. Don't worry about making big profits, just try to trade well, the small wins build up and really helps sharpen your skills I find. It took Clay and many other name traders a lot of time to get good, so give yourself some slack to learn and just keep looking to make the small improvements. Good luck on your efforts 👍
Thank you Kyle. Your right, just keep practicing..... I’m doing that, plus really not worrying so much about the money. My mindset is right in that respect. Like clay said in his video, I’m just feeling lost n not confident like I was a month ago. Sucks, but I know it’s part of it. Have you taken clays training or course?
@@graredtrading3121 we all go through spots of it, I'm just an early learner also, but after two weeks of really bad trading, took a good week off of doing many trades and one day just got that feeling to start again. Reset my plans, worked on my entries, exits and just took my time. I'm more than sure you can UA-cam search good ways to enter, just keep it simple and build slowly, you'll get your confidence back and find yourself picking up good habits amigo 👍🏼
@@graredtrading3121 no I haven't taken any courses, im learning from videos, taking small bits of advice I think are excellent from them not just the technical stuff and for now keeping it simple and making the improvements slowly. Again, I'm sure you'll find that inner confidence again, keep your chin up and look to make the small improvements 👍🏼
Don't forget about all the context that is in place before that first minute. How the stock behaves in the premarket. Where it opens relative to morning premarket high_low range. Relative volume in the premarket. News-catalyst going into the open. Where the general market (SPY-QQQ) is in the premarket relative to previous close and the morning premarket range. Where the stock is trading 1 minute before the open relative to pricing levels in the premarket and the previous two sessions. Knowing these and having your chart price levels all marked before the open on both the handful of stocks you are watching and the SPY QQQ charts are much more important than just eyeballing the stock chart during the opening action. The process of carefully examining and marking up the chart before the open helps you see the wild opening action with a clearer head.
Another excellent video, something I've been doing a great deal of lately, waiting to see how it goes, then making informed decisions. Until that is, I was so determined to finally get rid of a major share that's been plaguing me lately and had my plan worked out, market opened and needless to say - plan out the window and made the situation worse. First trade in 2 weeks where I've abandoned the plan, the patience and everything I'd been doing right bites me. So yes, it's the small micro improvements that help I have found, whether it's been well made trades with (to most people) small profits etc planned out, knowing when to exit correctly and so on. The one bloody time I left my sense at the door, an inconvenient reminder to say the least.
I suppose you need to trade a style that’s suits you as well. For example, if I try to trade these high momentum stocks right after the open ( like Ross Cameron does ) I just loose. Now I just look for steady climbing stocks for a simple dip buy. Not as sexy but it makes money.
Hi clay, since I started watching your videos I learned good things. I started to stop doing what made me lose money and I am achieving stability that I could not achieve before. I've played a lot of random off-wheel and in the opening. Once it was short before opening and had set a small profit price to exit, and suddenly GGAL opens and reaches -9% in less than 2-3 minutes. In the pre-opening it didn't say anything. There I learned 2 things. The risk of gaps and that it should not leave a price to close. Thank you
Hey there I may be showing how ignorant I am with this question. I am brand new to all of this and really want to learn. I’ve seen videos talking about short selling. The way I understand is you borrow the stock sell it and then buy it back when it goes down. When I look at brokers they talk about borrowing cash. Could you make a video explaining the process in which you borrow the stock or if not literally borrowing it but borrowing money how does it work from start to finish in deeper explanation? Thank you love the videos I’ve learned a lot!
@@claytrader you are correct but you can call anytime and extend. They only have a certain amount of licenses for the trial so that is why they do it for only 2 weeks
What platform do you use Clay? I've been on Webull and it has too many dangerous errors causing me to lose money due to orders not being executed on demand
Excellent video. It is the simple things that make you the most money. Like "Not Shorting" when the market is bullish. Like not making decisions in a vacuum when waiting just a minute can give you a great market direction. Perfect explanation to a complex question. We love you Clay. And a great channel. Thank you. Blessings & Warm Regards.
Hey Clay I trade pre market bc of my job . If I’m still in a trade I’m out before open. I consider it a new market. When I get to trade open I wait 5 one minute candles. There are a ton of strategies trading with time involved.
I really like your trading style that I assume that it is based on volume spread analysis. Then isn't using HLC bar a more effective method than candlesticks?
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
Thanks for great video. Can you pls make a video explain how to use the candle i mean when do u enter the trade and when you exit the trade also explain what to watch for as support and resistance.
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
I’m going to try the 5 minute context on Monday and see how that works out for me. I’ve been doing a much longer context, I’m very new at this, but what I have been doing is looking at each stock, the 5 days prior, one month mark, one year and five year marks. And then if it’s a company I know, and they’ve been doing good. Like Goodyear tire people, I would have thought they would be great, now my heart hurts for them, they may end up going out of business, their stock has been goign down for several years now, so I’m not buying them for sure. Although, since I’m only day trading, I guess I could, but I don’t want to, I like the companies that are doing good, and have been, and should keep on doing good. And I know I’m missing out on all kinds of good trades like this, but when I get better at this, maybe by next Easter, then I’ll branch out some more. I was going to try the backwards short sell, made me feel better when you said you thought it was buying for a little while, that’s what I thought too!!! Anyway, I was going to try that, that way everyday if the whole market was going up, then I could buy regular, but if it was a bad day, I could buy short and still make money. But I’m not ready for that just yet, next thing I knew, I had bought long/regular, and was thinking short, and was cheering it on as THE PRICE DROPPED!!!!! That was the end of my short thinking, I have to be fully good at regular longs before I try shorts again. I don’t know it was called context, but now that I do, and I see how you only use a few minutes of context, which is legitimate for momentary trades, I’m going to try that and see how it works out for me. Thank you for your videos.
Great video. I realized this after about a month of study and paper trading. Things go crazy the first minute and from what I have seen it is 50/50 which way it will go. Some of my biggest winners tanked in the first 1-3 minutes and then recovered (I am long biased).
Very helpful learned my first mistake going off earnings report and the stock should’ve been going up but it backfired on me and I’m low but now I know
I have question for the audience: has anyone done this guys course/training program? How was your experience? Can some pls review this man’s course. I am considering it, but I need looong term mentorship and I am not sure he does that. I want someone to tell me go for it or don’t do it.
Hi Barlin, I have Clay's training courses. The best training experience I've ever had in the world of trading. Before purchasing Clay's courses, I did two other individuals courses. Though these were not bad, the content was scattered and not well put together. Clay delivers where others leave you hanging.
@@rgasta7765 simple answer, look around my channel, I have plenty of videos showing me trading and showing my profits and loses. Here's just one example claytrader.com/videos/how-i-overcome-self-doubt-as-a-day-trader-tips-for-beginners/
I think you said you played college football so did I and in football almost always only 7 or 8 big plays made the difference in a football game out of what 140 plays usually
makes sense what your saying. My example is, market opened i waited for 25min and SPY shot up 2% and was going to end at 7%, that was a perfect setup, I was ready to buy Tesla only to realize it took an opposite direction and lucky i did not take any bets, 5 days later it was Elon musk who removed $1.2 Billion from Tesla meaning he cashed in and the market tanked, and he did for the next 4 days. So that gap began to full up as buyers swarmed in and bough huge shares. Buying the dip which recovered and the next day the same thing occurred.. its crazy to see how much money is being poured into Tesla and Elon just keep executing and taking Billions, its like a pyramid scheme the guy on top always wins. Its a casino.
Thank you this was real helpful to me also I like the idea about giving some time to think I've been doing that lately and I've been getting possible returns I'm not the number one Trader but I've been making money ever since I started doing what you said
I actually don't trade until about lunch time. By this time you usually know the winning stocks and the losing stocks for the day. I really need the stock to go up only $1 anyway for me to make a significant profit. This minimizes my chance for a loss significantly.
Hey Clay, a great fan of yours from India. In National Stock Exchange we have one of the highest volumes traded when compared to others around the globe - do check out if you are interested. Very genuine content on your channel and I appreciate what you do. I have some experience but am looking to establish myself in this hence your content is very helpful in this journey. Your single entry strategy is great, can you in one of your videos flash some light on how opening part of the day is very volatile and it helps traders accomplish their goal, and how we must avoid trades in the latter part of the day coz stock tend to slow down and the broker may have cut off to auto-close the intraday positions. Thanks, keep up the good work.
@@claytrader came across this video of yours 'I Do This to Make Day Trading Stocks Easier for Myself [Proven Method] ' clearly explains what I am looking for w.r.t trading time... Your quote ' I am not a greedy trader, $500 keeps the day job away' is my personal favourite. Best of Luck!
Wow dude took you until 3 mins to get to the point of your video. Just say what you have say up front. Don't stretch it out; fill up the time with more details and real world examples.
key word WAIT, that is all you need to learn about day trading is PATIENCE
Sometimes you might need to wait forever though!
I totally agree
true.... but not too much patience or you'll miss out.... which is what makes things so challenging.
I agree. The market "warms" up. I have noticed around 1030-11am is when trading really increases and after lunch around 1245-130. Also the market relies very heavily on government opinion and policy for certain sectors. So the morning news and the afternoon new breaks heavily influences the market. Have to have patience...and of course your late afternoon "rally" which starts at about 245 to closing. I have seen some amazing rallies at that time.
@@Keys7 thanks for the thoughts
Day trading makes me my own boss. I can do what I want. That's why I love it. I also love sleeping in.
It took me a while to realize that getting up at 5:30am (West coast) was actually required. I lost a lot of money trying to trade the after lunch session.
Once I started trading in the early morning, I became consistently profitable. Trading the morning is so much easier than after lunch.
That's my input on something really simple that made a big difference in my trading.
Cheers
I also love sleeping in!!!! great so cute feedback,, love it
@@lourembampremkumarsingh4736 nice
@@lourembampremkumarsingh4736 :)
Same here. My big losses came when i got back on to trade after 2pm - i would end up losing my morning profits and more.
I start trading between 7:45 and 8 am PST and I trade the 5 min chart. Starting at this time allows the 15 - 1 hr range to establish for the most part. I then assume my stock will likely trade in that range the rest of the day. It takes some major volume and most ta indicators showing breakout to get me to trade a breakout of that range. 80% of the time I will trade assuming the established range will hold and tighten. It does MOST of the time.
Thanks for the thoughts!
Yup... I've seen that range too in up and down gappers, from 8 to 9:29... It usually keeps bouncing in this channel (premarket hi'n'lo) until there is a breakout or a downfall between 12 and 14hrs... and 10% of time stock goes right above premarket high and keeps slowly on and on, for the rest of the day session... and 10% times the opposite... Just statistics
now this is the video we wanted to see, " how can we get better"
Cool
I defiantly can relate to this. Recently have been being more patient and letting the trades play out before i enter my position and has definitely payed off! Great content clay, keep it up.
Good job Matt!
treading became my passion, love how it allows me to to be in control over my day, time with family and so much more. yes, totally agree with "context" you got to have more information before you take a tread. for me i need 3-5 min in for confirmation. thank you clay.
Thanks for sharing!!
Totally agree with you on waiting for some “context” it’s very very true ... gotta see the chart to understand if the stock is ready to trade at new price level or if support is strong ... however I have been trading since 96 , I use OHLC (bar chart) and it’s really the same thing as candle sticks you can see the same identical thing .. except candle fills in a pretty color to help you tell if it was bearish or bullish .... I’ve tried to use them but can’t stand candles ... it’s really just a matter of preference ... candles in my opinion are like training wheels ... similar to MACD indicators ... I use my 17 and 50 day I’m only in a stock who’s shorter term average is diverging from the longer term .. it indicates an acceleration of momentum. ... it’s all preferences but I like to keep it simple and clean charts ... to me nothing beats wAiting for a tight pattern .... tight patterns are key .. loose sloppy up and down , yeah may make a quick dime or two but ... a mature stock the trades tight either for several minutes for day trades or days for swing trades ... that has all ways been a money maker for me ... anyways ... thanks for the videos !...
thanks for the thoughts
I had a good trade today that was based on volume...the scanner I use shows when a stock is getting close to a pivot, so a stock came up on the scanner and I went to check it out... I don't know why, but the volume in this stock went from, as an example, a small house made out of legos to a tower like the Wynn hotel in LV...and they were coming up side by side green...it just kept going up for about 2 minutes (and that's a long time in a move)...so I look at volume like water pressure...I mean you can have 5 green candles in a row and the stock could be going completely what I think they call sideways, because there is no volume...and I'm not even at trading with real money yet...just paper trading until I have a bit more time under my belt...I'm taking a screen shot of my end of day and putting it in a folder, as well as end of week final results showing the YTD for that week...get some data to see how I'm trending...for me right now, I just want to be in the black every week...last week ended great, this week a little down for the week...one of those "the market didn't totally slaughter me, but I have taken some hard hits that, if I live and learn, it won't be as easy next time for it to happen again, and if it does, I will catch it faster"...I'm learning that it doesn't cost anything to hold back on jumping into a trade and just watch it move and see what happens if you feel that "should I or shouldn't I?" feeling...there will always be another trade...hey, thanks for sharing your pointers in this video, and hope you and yours are well!
Thanks for sharing!
You're on the right track. Just a head's up, and you've probably heard it before, but it's seriously real... live trading is very different from paper trading. It's like the difference between a playing a flight simulator on your console and getting into the cockpit of a real jet. When you go live, reduce size and "practice" with that until you're comfortable with all the emotional turbulence that will be there. Good luck.
Thanks for the reminder. It helps to have it put that way, “context.” I violate that without even thinking about it
And thank you for watching.
I agree with your points Clay. And the first 1 minute is not for everyone. I’ve done very well buying the first minute. My 1st minute trades are 90% accurate. However, that said there’s some conditions that have to be met to pull it off. 1. It has to be a stock most people are watching. 2. It needs to be low float. 3. It needs to have a bullish pattern overall, and 4., ideally should have the vwap, 9ema, and 20ema close underneath. Quick stop, wait for confirmation, and price action will guide you whether or not to push the button. Also knowing when to get out is important, as the first minute often pumps and fades, you have to be ready to hit the bid if it starts turning around. You can make 30, 50, or even whole dollars per share on this with a tight stop making r/r high. Again this is not for everyone, and is a completely different strategy as most of your viewers probably trade high cap stocks, but it works in the low float realm. I’m just saying it can be a viable strategy in the right circumstances.
Thanks for the thoughts!
ClayTrader thanks, always enjoy your insights! 👍🏼
How do you wait for confirmation if you're trading the first candle? Just the direction? Are you looking at pre-market data?
ess mac In this case confirmation is the buyers coming in. I have my time/sales set to below ask dark green and ask or above bright green. When I see a bunch of orders on the ask come in is usually when I hit the buy button. Technical and news is good but I just need the 3rd thing which is people are buying this stock.
@@smacpost3 if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
🎯 most of my losses come from orders filled at 9:31AM EST lol
Well... there ya go! Take a step back.
yea u r rite losses r destined when u @ 9 30 trading
Same here
With some orders set to fill at the open, the first few minutes is not necessarily indicative of how a stock will perform that day. I prefer to wait and see what happens when the market has shaken itself out. If a strong stock that was gapping-up breaks out, I might buy a micro-pullback, but I prefer to buy stocks near support that are starting to curl-up and regain momentum.
obviously a good trade selection criteria is essential and we all have different approaches, but I would say a simple and powerful method of improving your results is to trade less. Trade the trades that jump off the screen at you and beg to be traded. If you find yourself trying to justify a trade decision trust me get up walk away come back another day.
Easier said than done for sure.
From what I've noticed, when the market just opens up, it straight up crashes, so yes, it's best to give it time to let you know where it's heading, cuz seconds in -- it's hella volatile.
Indeed... those first few minutes can be crazzzzy
yeah, recording my trades and reviewing them at the end of the day with a clear head made a world of difference. I still struggle to make myself do it, but it makes a big impact in creating good habits, becoming aware of bad ones etc.
Cheers. Keep on grinding!
Excellent video Clay!. Waiting 1 min or 2 to get context can save many random trades. ' When you are not making random decisions, you are not gambling' Well said.
Cheers Kenneth. Thanks for watching!
Yep, completely agree. Thank you!
Cheers
Yup it's the simple things that make the big difference in trading. If you can't make money with candlesticks, volume, and a stock in play, all the indicators in the world aren't going to help. Having hard and fast rules like waiting for the first 1 min candle to form or for some known pattern to emerge before getting into a trade will make a much bigger difference than indicators. Good video Clay!
Cheers to simple!
Please explain how you trade with 1 min candle context and gaps at opening of market.......And how gap ups and gap downs effects first 5 1min candles. Which is the better entry point in scalping??
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
@@claytrader ok
Im almost tempted to use a 2min on opening and if its bullish buy with a 1% trailing stop loss ? And opposite if its barish what do you think of that strategy? Even at 50% I should make nice gains with a trailing stop loss?
if you're interested in "talking stocks/trading in general", you are more than welcomed to join my private community - claytrader.com/team/
Hey Clay, Dont you get context from pre-market charts?
I was confused about that too. I stopped doing that and stopped placing orders to buy at open based on pre market because sometimes it just drops so much at 9:30. I wait now a few minutes.
If you notice Clay and Ross just get an idea about the stock pre market and say something like “I’ll buy at 9.30” when it’s at like 10 dollars because they get context of where it’ll go based on pre market chart.
ELICIT23 Even is you buy at open, you probably will get a bad fill.
Lots of opinions on that.....
I love your videos, great job!!!
Glad you like them!
i always wait 3-5 mins after market opens to see market direction before opening a position
Thanks for sharing!
No context to be had from the pre market candles?
LOTS of opinions on it.....
Good question. I believe pre-market High also adds good context, but of course it doesn’t tell the whole story
Can I know,
Best entry for scalping
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
this is the question i just asked today.....
question.. is there a scenerio that you would trade the first one minute candle?
Maybe if it has a strong catalyst right before the open.
Yeah... could be, although very rare to get the right set-up...
true, learning this the hard way all the time. the imbalances you have to deal with.. sometimes the spread is like 40cents... first 1 or 2 mins.. patience...
Yup... can be crazy!
Clay! You’re the man. Thanks. Gonna sign up for your webinar
Great! See you soon!
pacience is the way..great video
You got that right!
I’ve learned a lot so far this past week but everything is still new to me and when people speak it still sounds like Chinese ...If I’m consistent, one day everything is just gonna click and make sense...but I’m not there yet so I’m not gonna spend a dollar in the market until I actually get it ... like learning a new language it still sounds foreign but I’m learning more and more everyday...I’ve only been in it for a week
I hope you consider my training program!
@@claytrader I am in boat as Golden Bowl...just a week behind...lol Whats the cost of your training program ?
@@sandeepvirk3598 scroll down on this page claytrader.com/
A little secret for you. Professional trading is about "Position structure" Give me the current price of the stock and I can make money without even looking at a chart. It's all about how you structure your position...
Cool
This whole idea of chart patterns being the reason why price moves is ridiculous. For every "pattern" that worked in you favor I can show you an equal amount that went in the opposite direction. People just like looking at pictures kinda like a magazine and snake oil sales men use these pictures the sell courses. Look at one stock on 5 different time frames and every chart will look different so which one is the "key". Prices moves based on the next transaction hitting the offer (sending the price one tick higher) or hitting the bid (sending the price one tick lower) and that's it. Nothing to do with these pictures you see on the screen also known as charts.
Clay short tesla with me I’m short 1333 ??? What do u think ?
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
ClayTrader you know what clay ?????? You just got a new member , my name is Cleve
As a new trader myself, this and also risk management is the most important thing. I'm going to make more losses than buys the less experience I have, so to not get discouraged it's important to keep those losses low for me (for me it's the amount I can refill with my savings every paycheck). Also I got a stress ball, that helped haha.
Do what works :-)
hows you trading going?
Clay, Is there a better way to pickup stocks to trade everyday? Considering markets could go south or up during the day.
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
Thank Clay, thank you for responding yesterday.... that’s rare with some of the people selling their course.
Clay, 5 months ago, I bought into a course that helped me learn how to read price action and how to short stocks. I like what you teach and seriously thinking about joining your group. What I’m not getting is how to read and jump in a trade bc everything is so choppy and not seeing any big moves, even with stocks that have lots of volume. I just make little trades that has some winning, but others where I lose.... I am paper trading using TOS...... I feel lost a little bc I don’t know how to find good trades in this market that are not choppy.... is there things you do in your training that would help? Thank you clay
Find just one or two stock for a while and see how they play out over time, a good few paper trades will help. Practice learning about good entry and exit points. Don't worry about making big profits, just try to trade well, the small wins build up and really helps sharpen your skills I find. It took Clay and many other name traders a lot of time to get good, so give yourself some slack to learn and just keep looking to make the small improvements. Good luck on your efforts 👍
Thank you Kyle. Your right, just keep practicing..... I’m doing that, plus really not worrying so much about the money. My mindset is right in that respect. Like clay said in his video, I’m just feeling lost n not confident like I was a month ago. Sucks, but I know it’s part of it. Have you taken clays training or course?
Thank you
@@graredtrading3121 we all go through spots of it, I'm just an early learner also, but after two weeks of really bad trading, took a good week off of doing many trades and one day just got that feeling to start again. Reset my plans, worked on my entries, exits and just took my time. I'm more than sure you can UA-cam search good ways to enter, just keep it simple and build slowly, you'll get your confidence back and find yourself picking up good habits amigo 👍🏼
@@graredtrading3121 no I haven't taken any courses, im learning from videos, taking small bits of advice I think are excellent from them not just the technical stuff and for now keeping it simple and making the improvements slowly. Again, I'm sure you'll find that inner confidence again, keep your chin up and look to make the small improvements 👍🏼
Don't forget about all the context that is in place before that first minute. How the stock behaves in the premarket. Where it opens relative to morning premarket high_low range. Relative volume in the premarket. News-catalyst going into the open. Where the general market (SPY-QQQ) is in the premarket relative to previous close and the morning premarket range. Where the stock is trading 1 minute before the open relative to pricing levels in the premarket and the previous two sessions.
Knowing these and having your chart price levels all marked before the open on both the handful of stocks you are watching and the SPY QQQ charts are much more important than just eyeballing the stock chart during the opening action. The process of carefully examining and marking up the chart before the open helps you see the wild opening action with a clearer head.
Premarket can be VERY deceiving....
I used to buy in pre market, not anymore, only selling and not buying till 10:15AM at least in most cases lol
Do what works for you!
Another excellent video, something I've been doing a great deal of lately, waiting to see how it goes, then making informed decisions.
Until that is, I was so determined to finally get rid of a major share that's been plaguing me lately and had my plan worked out, market opened and needless to say - plan out the window and made the situation worse. First trade in 2 weeks where I've abandoned the plan, the patience and everything I'd been doing right bites me.
So yes, it's the small micro improvements that help I have found, whether it's been well made trades with (to most people) small profits etc planned out, knowing when to exit correctly and so on. The one bloody time I left my sense at the door, an inconvenient reminder to say the least.
Thanks for the thoughts!
Love it 🙌🏻
Thanks!
you could use pre market as a context if its a heavy traded stock
you could.....
I tried that and then everyone pulled out out and I loss. Pre market was up 5% and then after a minute it went -3%.
I suppose you need to trade a style that’s suits you as well. For example, if I try to trade these high momentum stocks right after the open ( like Ross Cameron does ) I just loose.
Now I just look for steady climbing stocks for a simple dip buy. Not as sexy but it makes money.
Ross uses pre-market data, so he still requires context.
it's easy to make money when thousands of people follow you like sheep
Just a quick side note.. Anytime people give advice saying "you", they really mean "I" or "me"...
With that being said, I agree with what he's saying.
Oh, you are a mind reader? Interesting....
Hi clay, since I started watching your videos I learned good things. I started to stop doing what made me lose money and I am achieving stability that I could not achieve before. I've played a lot of random off-wheel and in the opening.
Once it was short before opening and had set a small profit price to exit, and suddenly GGAL opens and reaches -9% in less than 2-3 minutes. In the pre-opening it didn't say anything. There I learned 2 things. The risk of gaps and that it should not leave a price to close. Thank you
Just imagine how much you'd learn if you'd invest into my premium services and education!
@@claytrader Surely, someday I will subscribe
Hey there I may be showing how ignorant I am with this question. I am brand new to all of this and really want to learn. I’ve seen videos talking about short selling. The way I understand is you borrow the stock sell it and then buy it back when it goes down. When I look at brokers they talk about borrowing cash. Could you make a video explaining the process in which you borrow the stock or if not literally borrowing it but borrowing money how does it work from start to finish in deeper explanation? Thank you love the videos I’ve learned a lot!
This should help: claytrader.com/videos/shorting-going-short/
Love your videos you make it simple
Glad you like them!
Again another high quality lesson from clay
Glad you enjoyed it
Nice video...and good hint the context... but we all know there is more than that... keep it on Clay... You a great coach!
Yup, way more than that, but it's a good starting point.
If i open a demo account with lightspeed will i get any charge (commissions)?
Nope. I think you only have access though for like 2 weeks (I could be wrong).
@@claytrader you are correct but you can call anytime and extend. They only have a certain amount of licenses for the trial so that is why they do it for only 2 weeks
Great info buddy. Much appreciated. I am a big fan of your vids. Thanks again
I appreciate that!
What platform do you use Clay? I've been on Webull and it has too many dangerous errors causing me to lose money due to orders not being executed on demand
He uses eSignal for charts and Lightspeed for his orders/L2
Kelly Davis lmao
Here you go claytrader.com/resources/
@Kelly Davis Don't complain... there is always places further south, and higher mountains behind... wrap up and start over...
That's why I love the premarket you get a lot of context there
Which at times can be VERY misleading.....
@@claytrader you are right but only if you don't use a combination of the 2. If your just relying on the pre-market (aka one thing) then yes..
@@cruzin1383 oh, so if you use a combination, you'll always be right?
Excellent video. It is the simple things that make you the most money. Like "Not Shorting" when the market is bullish. Like not making decisions in a vacuum when waiting just a minute can give you a great market direction. Perfect explanation to a complex question. We love you Clay. And a great channel. Thank you. Blessings & Warm Regards.
Thanks for the kind words.
Hey Clay I trade pre market bc of my job . If I’m still in a trade I’m out before open. I consider it a new market. When I get to trade open I wait 5 one minute candles. There are a ton of strategies trading with time involved.
Thanks for your thoughts! Do what works for you.
Thanks buddy I apreacciate your work and dedication I have gotten so many skills by your videos
Glad to help
I wait for the London session to open..
Do what works for you
I really like your trading style that I assume that it is based on volume spread analysis. Then isn't using HLC bar a more effective method than candlesticks?
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
As always...great stuff Clay!
Thank you! Cheers!
Great great video, you produce so much value, keep killing it my friend.
Thanks for watching
Thanks for great video. Can you pls make a video explain how to use the candle i mean when do u enter the trade and when you exit the trade also explain what to watch for as support and resistance.
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
Hi Clay, whats a good trading platform that you recommend? I want to upgrade from robinhood
Here ya go claytrader.com/videos/the-stock-trading-platform-for-traders-on-a-budget-best-app/
thank you
You're welcome
Good Advice, thanks
Glad it was helpful!
Why do some people use tick or volume candlestick charts,
All personal preference.
I’m going to try the 5 minute context on Monday and see how that works out for me. I’ve been doing a much longer context, I’m very new at this, but what I have been doing is looking at each stock, the 5 days prior, one month mark, one year and five year marks. And then if it’s a company I know, and they’ve been doing good. Like Goodyear tire people, I would have thought they would be great, now my heart hurts for them, they may end up going out of business, their stock has been goign down for several years now, so I’m not buying them for sure. Although, since I’m only day trading, I guess I could, but I don’t want to, I like the companies that are doing good, and have been, and should keep on doing good. And I know I’m missing out on all kinds of good trades like this, but when I get better at this, maybe by next Easter, then I’ll branch out some more. I was going to try the backwards short sell, made me feel better when you said you thought it was buying for a little while, that’s what I thought too!!! Anyway, I was going to try that, that way everyday if the whole market was going up, then I could buy regular, but if it was a bad day, I could buy short and still make money. But I’m not ready for that just yet, next thing I knew, I had bought long/regular, and was thinking short, and was cheering it on as THE PRICE DROPPED!!!!! That was the end of my short thinking, I have to be fully good at regular longs before I try shorts again. I don’t know it was called context, but now that I do, and I see how you only use a few minutes of context, which is legitimate for momentary trades, I’m going to try that and see how it works out for me. Thank you for your videos.
And thank you for watching!
You are talking about premarket or market open ? Sometimes premarket has decent price entry.
And in many cases, it can totally mislead you.
Great video. I realized this after about a month of study and paper trading. Things go crazy the first minute and from what I have seen it is 50/50 which way it will go. Some of my biggest winners tanked in the first 1-3 minutes and then recovered (I am long biased).
Glad it was helpful!
i’m really trying to get good but i’m having a hard time really understanding the whole profit part with so little or minimum deposits
Consider joining the community!
Another great trading lesson.
Glad you enjoyed it
do u have a discord ?
yes, claytrader.com/team
Great video!
Glad you enjoyed it
Great content Clay
Thanks for watching!
veery nice video
Thanks for watching!
Great video thanks. I've been trying to adopt a spider mindset. Letting the trades come to me instead of chasing them.
You can do it!
Lol. Today was the end of my winstreak because I keep buying at the market open. Lesson learned✅ hands off the next 10 mins
Roger that
Very helpful learned my first mistake going off earnings report and the stock should’ve been going up but it backfired on me and I’m low but now I know
Glad you're learning!
Ik nothing about stocks so this might sound like a dumb question...but do u use an online broker
Check out TD Ameritrade! Just MHO. I’m a newby.
Yes, I recommend claytrader.com/videos/the-stock-trading-platform-for-traders-on-a-budget-best-app/
I have question for the audience: has anyone done this guys course/training program? How was your experience? Can some pls review this man’s course. I am considering it, but I need looong term mentorship and I am not sure he does that. I want someone to tell me go for it or don’t do it.
This claytrader.com/takecontrol/ is lifetime membership and comes with a 30 day money back guarantee.
Hi Barlin, I have Clay's training courses. The best training experience I've ever had in the world of trading. Before purchasing Clay's courses, I did two other individuals courses. Though these were not bad, the content was scattered and not well put together. Clay delivers where others leave you hanging.
@@stewartashton6997 thanks for that! much appreciated
perfect:)
patience again:)
Always!
You give me a good one minute idea to implement with my strategy.👍
Perfect!
Im new here. Is this guy P/L positive or is he losing?
What?
@@claytrader simple question. U in profit or in loss? How much did you make this year
@@rgasta7765 simple answer, look around my channel, I have plenty of videos showing me trading and showing my profits and loses. Here's just one example claytrader.com/videos/how-i-overcome-self-doubt-as-a-day-trader-tips-for-beginners/
Crazy lol I bought to early today day trading gnus. Thanks for the advice clay!!!!
Glad it could help!
I think you said you played college football so did I and in football almost always only 7 or 8 big plays made the difference in a football game out of what 140 plays usually
Great point! It only takes a few.
I'm all signed up on WeBull now. Ready to go!
Great!
All stock traders get crazy after sometime , see the body language of this guy😂✌️
Glad it could entertain you!
@@claytrader 😂😂😂🤭
cheers
@@claytrader 😂😂you cheer for yourself 😂😂
Amit Patil: Sounds like you've been at it for a very long time.
the mistakes everyone did and still do eventho we know we dont know anything!
exactly...
makes sense what your saying. My example is, market opened i waited for 25min and SPY shot up 2% and was going to end at 7%, that was a perfect setup, I was ready to buy Tesla only to realize it took an opposite direction and lucky i did not take any bets, 5 days later it was Elon musk who removed $1.2 Billion from Tesla meaning he cashed in and the market tanked, and he did for the next 4 days. So that gap began to full up as buyers swarmed in and bough huge shares. Buying the dip which recovered and the next day the same thing occurred.. its crazy to see how much money is being poured into Tesla and Elon just keep executing and taking Billions, its like a pyramid scheme the guy on top always wins. Its a casino.
No, sometimes the "guy on the top" never gets to the top and he's screwed...
There's a lot of context that can be seen in the preceding minutes of premarket trading.
And it can deceive you very badly.
@@claytrader if that isn't facts idk what is XD. Lost so much money relying on pre-market info
@@alanv3185 you're not alone
Damn can't use a 1 min not enough info, I look to sell in the morning than buy later in the day😁
Do what works for you.
"Cuzhiyouz1minitcanibals" 2:19
Hhaaahahhaahaah sexy bitch
yup
Thank you this was real helpful to me also I like the idea about giving some time to think I've been doing that lately and I've been getting possible returns I'm not the number one Trader but I've been making money ever since I started doing what you said
Glad it was helpful!
I usually need a minimum of an hour of context before I make trades. Typically it's more around 2 hours.
Do what works for you.
Candlesticks are just a foreign language, once you learn the language your golden.
I agree
Coming here after a whole week of red days like...
Hope it helps!
@@claytrader sure does man!
Understanding the long term context of a stock paints a picture of the possible potential. for example TSLA lol
Context matters for sure.
I actually don't trade until about lunch time. By this time you usually know the winning stocks and the losing stocks for the day. I really need the stock to go up only $1 anyway for me to make a significant profit. This minimizes my chance for a loss significantly.
Thanks for the thoughts.
Hey Clay, a great fan of yours from India. In National Stock Exchange we have one of the highest volumes traded when compared to others around the globe - do check out if you are interested.
Very genuine content on your channel and I appreciate what you do. I have some experience but am looking to establish myself in this hence your content is very helpful in this journey.
Your single entry strategy is great, can you in one of your videos flash some light on how opening part of the day is very volatile and it helps traders accomplish their goal, and how we must avoid trades in the latter part of the day coz stock tend to slow down and the broker may have cut off to auto-close the intraday positions.
Thanks, keep up the good work.
Thanks for the kind words and watching!
@@claytrader came across this video of yours 'I Do This to Make Day Trading Stocks Easier for Myself [Proven Method]
' clearly explains what I am looking for w.r.t trading time...
Your quote ' I am not a greedy trader, $500 keeps the day job away' is my personal favourite.
Best of Luck!
That happened to me today. 🤣🤣🤣🤣never again
Live and learn.
Watching 7 months later, I hope you’ve upgrade from chalkboard to a non-goosebumps/ear cringe creating whiteboard.
No way. Old school all the way!
@@claytrader Biden: C’mon man!
@@ikari2000 no way
Well ThinkOrSwim won't execute a trade within the first 10 min of the day so no worries there 😂😂😂
ouch.... lol
Anybody tried MooMoo broker? . . need opinions
Never heard of them.
Wow dude took you until 3 mins to get to the point of your video. Just say what you have say up front. Don't stretch it out; fill up the time with more details and real world examples.
Thanks for the feedback.