How to know if you're Failing in Trading? 4 Key Reasons Explained
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- Опубліковано 18 чер 2024
- Day Trading with me: bit.ly/yt20230918
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In this video I want to share 4 crucial reasons you are failing in trading to help you overcome the struggles of losing money day trading. I was a losing trader for over two years. I used to lose $50, $100 there, and if I make $60, the next day I will lose $200. It just felt like I was in an extremely toxic cycle of losing money and I couldn't find a way out. Trading was extremely difficult for me… I realized that I need to find out the reasons leading to my personal mistakes as a trader, or I eventually lose all of the money and give up…
Out of desperation, that's when I really started to review my trades and my trading behavior. Instead of looking for profits or wins. I was finally facing the reality and look at my losses… and try to understand why I was failing in trading.
I realized there were four deadly things I was doing that made me a consistently losing trader. Understanding the 4 reasons I was failing may seem very subtle and small you watching this right now, but it changed everything for me more than 7 years ago and helped me get to where I am today. I finally quit my brutal 9-7 full time job many years ago to become a full time day trader. And these four things are extremely simple principles and changes to implement…you can literally take these tips today and start improving your trades tomorrow, but guess what, they are simple but not easy.
I’ve been in this trading game for over 8 years now. Been through some of the highest highs and lowest lows. But I can tell you this, instead of looking around for external miracle or the “secret sauce” to help you succeed in trading. You should be looking at your own behavior and performance.
#traderpsychology #daytrading #stockmarket #stocks #scalping #priceaction #vwap #indicators #tradingstrategy #howtodaytrade #tradingview #algotrading #bitcoin
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Which lesson resonated the most with you traders? 👇🏼
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Hi Shay! Is tradestation a good broker for scalping, specifically? Or should I only stick to platforms that have DAS Pro?
Definitely am in the big losses small wins category. Need to think about what I am doing more. Thanks !
How do you find stocks in the premarket that have gapped up or down?
I used to use Trade station for this service. I wonder how you do it ?
What are the variables when looking at prop firms, and comparing them ..
For instance, should you make it to a fully funded account. What would the profit split be?
Do you think most traders use Prop firms or should I try to stick it out and just use my own money in the long run?
This one as a confused newbie. Thanks
one strategy until perfect execution
It is always good to have a financial plan. I work with a portfolio manager and fixed income planner in the USA. The fixed income portion of your portfolio won’t simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.
This is very true! A lot of people downplay the role of a financial planner until burnt by their mistakes. After my last job layoff, I had to stay afloat, hence researched for licensed fiduciary advisors. Thankfully, I came across someone of practical knowledge and experience. My reserve fund of $225k has yielded nearly $1.3 million after subsequent investments so far.
I’ve shuffled through a few financial experts in the past but settled with;
*CHRIS RYAN STEWART*
His strategy is recession proof, more specifically profit-oriented and most likely you’ll find his basic information on the net. He’s a very well known advisor.
I’m very well inclined with Chris Ryan Stewart’s platform. He is making quite the wave in the current financial space. From Bloomberg to CNBC. Amazing financial mind!
Thank you say! ❤ keep growing
Another beautiful video, well done !
Very well put! Thx for that Videos.
Thank you ❤. This helps me a lot. Please keep them coming.
Good advises, really appreciate!
I'm glad to see and hear other people who have struggled, it's hard to talk about this kind of stuff with regular people. Im going on 4 months now and Iam improving thanks for your videos and tips .
Great video, will definitely save to re-watch if I find myself repeating mistakes.
Thank you so much.there are lot of questions in my mind and you answer all thanks lot
this is so much about me, thank you so much for sharing your experience Shy
thank you for all the teachings, Sensei! S2
Well said idol…. You motivate me a lot…thank you so much
Needed this. Thank you
❤️ 💙 💜 💚 💛 🧡
Thank you so much for sharing your experience and recommendations. I've learned a lot from them since I discovered your channel, Shay!
Loving your vidéos! Thank you!
Thank you shay! I love your insight. Keep it coming :)
Your spot on about measuring your hold times on winning and losing trades. For some reason we always hold the losing trades longer hoping that eventually it will turn back in our favor. But most of the time that's never case. Stop Loss is a godsend.
Thanks for this video I can definitely use some these tips
Number 2 by FAR my biggest issue. fear and worry. ive gotten alot better...and its helping my in my personal life as well
Thank you 🙏 for this enriching and knowledgeable vidéo.
The lesson that resonated with me: Taking screen shots of each trade and annotating the chart with entry, stop loss, and profit targets and also note on the charts the position open & close time. I'm going to begin this for trades that I made for the week of Sept. 18th, 2023. This will become a standard of practice and a good add to my journal of detailed notes & comprehensive data. Thank you Shay. cmf
Perfect your charting. Reduces stress from buying in lower, selling by the chart NOT looking at the money.
Thanks for sharing your experience and tips. Thank you very much❤❤❤
Thanks for the advise, I must remember it. I do realise my holding losses hold longer than my profit. It is always up and down, I have to be more patience in finding set up and slowly move up, By entering daily is definitely not right for me.
“I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.” - Bruce Lee
It's true one solid strategy is enough to become profitable trader.
This the best video humble trader has done when it comes to real information. Most trader UA-camrs don't give real information, but this is one for the books people.
Thanks for taking the time to create this video. I enjoyed watching it.
Thanks for watching!
Fantastic video! Job keeps me from daytrading. But my swingers have been doing well, been actually more long term. Not looking at them much, set alerts on TOS mainly at past price line trends on the day stick. More recently, got some HE at the bottom. RRR too since I'm building one of there projects. Hey a dividend payment, bonus! haha! Keep em coming Shay!
I can't believe these information are free of charge. Thanks Shay!
Wise and honesty advices, this is the path of new traders, that no body's talking..
Great job, Shay
Continuation, perseverance, and learning from mistakes are the basis of success in trading. Commitment and learning technical analysis along with risk management are very important to move forward towards growing profits little by little.
Thank you humble trader, I got you, I just dive in with all this mistake, = emotional trades. Just new and learning in trading, 😊
Hi, thank you for everything. You are sharing very important points so clearly. It makes me feel like 'Hey, one day you can make it, keep trying.'
Link :)
Thanks for sharing
Great info! Thank you...
Glad it was helpful!
Another great video! Thanks
My pleasure!
Great video! 👍 👍👍
I am full time employee and this video really helped me to find myself and stop jumping different strategy everyday. I think for me, swing trading works much better than other strategy specially I can't monitor the movement every minute. Thanks again
Thanks!
I do review my losses but not to the degree you suggest and could never seem to nail down quite where the solution was. My first trade this morning was terrific and then my 2nd took a sizable chunk from my 1st trade. I reviewed and saw I rushed to re-enter. I have already created the specific folders and start recording my wins and losses tomorrow. Thank you
@@thehumbledtrader1-telegra will do
Wonderful suggestions!
Glad you like them!
I started trading in 2003 and despite the fact that I was doing well, I took a 20-year break to pursue other ventures but in May, I decided to return to the monitors. My portfolio is up 174% for the year and while I'm proud of this success, I'm well aware that percentage can disappear in one week so I continue to watch your videos to help me fine tune this pursuit for profits.
I just wanted to chime in and tell you that you are considerably the fuel behind my success this year after deciding to return to the game. I had a lot of catching up to do and my goodness your videos are just so incredibly well done. Keep doing what you're doing because I'm sure I'm not the only one whose life has been improved because of the time and effort you give to your craft. You are truly something special and you're changing lives. 🏆
Thanks, good explained 🙏
Cheers
My favorite trader, teach me the hard way 🎉 i finally understand 😅 that's why you my favorite ❤🎉 😊
Reviewing losses is something I am doing. Either at the end of the day or more recently, I had 2 small losses in a row. I stopped looking at anything else to review my mistakes right away. In the case of the 2 losses, I was looking for a reversal but I was not giving it time to develop. I had tried to jump in early instead of waiting for the charts to show a reversal was actually happening. That was a learning experience. I also scaled down to work on improving my execution. (something you had talked about in several other videos)
Link :)
Embark on your trading journey with the finest AI course for beginners.
Follow the @
One strategy instead of many, keep thorough journal, proper risk management all critical
No1 resonated with me and I always refer to this phrase which I tweaked to my own needs don't be "A jack of all trades but a master of none', rather be a Jack of one trade and a master of one".
Good job Shane. I have been watching your videos, and your talk folllows simple logic, a common sense. Something hard to find when comes to trading. Tnx
Shay*
Thank you
This is a fire ass video, I really like the shiney new object problem. I think we all have done this. Well done vid keep them coming.
I think that I made up my own strategy which I plastered from other strategies - i always enoy learning new strategies so i can ry to apply them to my old strategy it gives me like a level up to my strat.
Number 1 is my main problem I must admit. I get attracted to a lot of shiny new indicators that I think will give me an edge. I needed this, thank you.
Yeah we’ve all done that mistake 😤
指标无用
I can’t wait until you interview me one day! I like how you review your strategy very awesome and Humble 😅
My three favorite channels: Humbled Trader, Stock Brotha, & Zip Trader. Make my week complete! 🔥 🔥 🔥
Cheers thanks for that!
Sell gold buy platinum
World should go for platinum standard..platinum is more RARE METAL THAN GOLD
double smashed the like button
I love your pro tips, Shay! I'm a beginner, trading for less than a month. My mistakes recently mirror what you explain in this video, so you are right on. I've been trying to learn when to bail on stocks having a red trending day. I tried a personal strategy of instantly dumping at a -1.00% or greater drop in order to cut the loss. But I realized I was selling off before bounces and not waiting for a modest profit bounce peak, but just selling at losses. I was not being patient. So now, I am paying more attention to my average cost price point on each stock and calculating a price target that will cover my purchase price or yield a profit. I'm also looking more closely at news, longer window history graphs looking for 'head room' for a stock to grow or the resistance ceiling I should expect. But Shay, the market is so tricky! But that's what makes it fun, right?
Been trading for a few years now and wow, this is GOLD.
Happy to help!
I’m enjoying the learning Still not up and running. Atoo scared to loose money.
I do know but in this time I confirm after this video thank you sis thank you
Wow, this was EXACTLY what I needed to hear.
Although my losses are not huge any longer.....Not wanting to see my loss, again, at the end of the day then going to my 9 to 5 is why I'm not consistent with capturing the results of losing trades. Time to put my big girl undies ON and just do it!!
thanks Humble Trader, you always bring me back to accountability, so kindly ❤🎉
Glad to help. Yeah as painful as they are you gotta save and review the losses. 🙏🙏
Sell gold and buy platinum...world should go for platinum standard..platinum is used for hydrogen industry and more RARE METAL THAN GOLD..
This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.
Affirmative.
Here's a question: Do you have knowledge of any AI for trading?
The most effective AI trading tool is known as
Gemacollege
I discovered it through
Great info, thanks! I will have to look at my average holding times.
🙌
thank you from THE SHIP YARD TRADER
great video
The LamborghINIiiii😂😂 excellent. Very interesting video by the way! Cheers from France
great video. love the accent
Great video. Do you offer training for short term trading.?
I recently said one big difference between folding a poker hand and selling a stock is that you can keep going back and checking the stock to see how you’d be doing had you not sold- for better or worse
oh man, this is the video I need; Big RED for the month of Aug and Sept so far :(
Naaicee tutoring Ma'am🎉🎉🎉🎉
I like this kind of topic, which analyzes the reasons for losing money 😄👍
Keep working on it!
Very energetic Amoi
Ive been fairly even give or take a grand or two over 3 years. I have a pretty good understanding of the market, but my only available tool is my phone. That makes it difficult.
Thanks for putting in the Lambo reference at the end...
Its really about being disciplined. Get in and out of trades. Have a stoploss this prevents big losses. Dont chase trades patience is Important wait for your setups. Dont get greedy, or hold winning positions to long a bird in hand is better than 2 in the bush. Consistency is key, replicate your trades as much as possible, and you'll be a profitable trader.
Absolutely! doing the same thing.
To me this happens continuously, consistency is tough. but then i realised its very much in emotional aspect. So im focusing on clearing up “debt” the reality .. Im not depositing, but i use every penny while jobless to clear up whatever holding my emotional.. almost there, i have clear up as much and im coming back to trade in 6 mths soon.. though overtime my lappy is obselete 🤣.. but working hard towards getting new lappy.. wish me luck!
Everything you said is exactly what I am doing. It's tough to hold on to my winning trades because I do not want to lose again. I hold onto my losers sometimes because I am hoping the price will bounce on the next resistance level, sometimes it works and sometimes it doesn't. I'm almost there I just need to get passed these two critical issues.
trading is hard but you can handle it at last
I do the same thing, so I decided to move my stop loss in increment to follow the price action with a small buffer to allow retest.
Affirmative.
Here's a question: Do you have knowledge of any AI for trading?
See it as 'gptneon'.
I love this woman❤❤❤❤
Can’t agree more with the advices . Thanks for the efforts
I've only been day trading for 2 weeks, every time the trade goes low/bad I have just been waiting a few days for the price to bounce back then selling for the same price I started at to avoid loosing money. I only trade stocks with a buy rating and good financials so there's a better chance for a bounce back.
Nailed it
💪cheers
Best entry when small red and Green candles sideways it's means soon Will be either big move up or down
I enjoy this channel..your very smart trader lady .i got some point crucial from your explaining lesson .not just from this video but all vid on this channel .i think someday you will be hav a hedge fund and be like George soros,Steve cohen etc.Keep on 👍👍🙂
10/10 tips. I need to stop bag holding 😂
Yea, I've got a big problem with leaving large amounts of money on the table. And in my cash account I can't try again until the money clears the next day. Such a bummer.
Have you tried pre determining the exit? And execute the plan once the stock hits there? Or scale out in partials
Love the poker analogy 😂
THE FIRST 10s GOT ME A MOTIVITION TO KEEP GOING
I am working on realizing that "hope" is not a strategy.
Does humbled trader make more trading or via all the side hustles?
Hi Shay, did you find any software compatible with Schwab? I had DAS Trader with TD but now is incompatible. I miss it. Any help would be appreciated. Thanks
Hi im Canadian ,which stock broker you use in Canada, i use trade zero but im not sure if i should stay with them.thanks
Please tell me does one strategy means in long and short ( the same style used in opposite way) or just short only or long only ... in your opinion ??? Thank you
Sister, could you send link where you explain how to use volume indicator in depth, since you only use vwap and volume.
How do you deal with wash sales, when getting out of a loss
If you focus on one stock. How do you deal with Wash rules?
My biggest problem is emotional. Which also falls into the "Not letting winners run" category. Bot also failing to believe in my TA and not taking the trade.
🥲 I’ve been there too
Reason #2 is one of my most psychological problem right now.