Buying a lottery ticket is an invigorating experience. For a split second, you picture a life-changing windfall and all of the rewards that come with it. Fast cars, luxurious homes, exotic vacations...you name it. If you're a pragmatist, this comes in the form of a...
This week was wild. Wall Street was flipped on its head as seemingly unprecedented events unfolded. The reach was widespread. Everyone from first-time investors to tech billionaires had their eyes glued to the same few stocks. FOMO was at peak levels, on pace to break...
So, you want to be a day trader? The question is....do you have what it takes? Everyone wants to be a successful trader. Who wouldn't? The ability to turn money into more money appeals to just about everyone. Combine that with limitless profit potential and the...
The market has been incredibly hot lately and many traders are setting record years. It has never been a better time to be a day trader. Every day, we're reminded of how lucky we are to have a job that allows us to be in full control of our own destinies. We get to...
Millions of new traders entered the market in the last few months. A combination of stock market volatility and more free-time at home has led many people to take up trading as a hobby or as a means to generate side income. Most of these traders will learn the hard...
2020 has been a historic year for day trading. Millions of new traders have entered the market and it's actually having an impact on how stocks trade. Just take a look at this Google Trends chart for "day trading": The interest in trading spiked. Brokers have reported...
With great success comes great skepticism. While some people observe success and become obsessed with cracking the code, others instantly dismiss success as a sham. Pessimists view success as a product of luck and circumstance or, even worse, an intricate deception....
Why do stock prices fluctuate and how can we predict these fluctuations? This question should be at the core of any effective trading strategy. Traders aim to take positions when they believe they have the ability to predict future price action with high levels of...
A day trader's job is to effectively predict a stock's future price action. As I'll repeat time and time again, you can never predict price movement with 100% certainty but you can look for unique patterns that give you an edge. It can be helpful to understand both...
Is it possible to be 100% certain in a trade? We’ll get to the answer but first let’s set the stage. You’ve probably experienced something like this before. You study your patterns, run your scans, and find the perfect setup. You enter a position convinced the stock...
You just entered a trade and now your money is being held hostage. At this point, it’s not really even your money at all. It’s being held captive under the autocratic rule of ruthless market forces. Of course, you’re responsible for negotiating the release. So far,...
Success can seem like a mystical phenomenon to the untrained eye. The dichotomy of so-called “haves” and “have-nots” is mind-boggling to those who don’t understand the inner workings of achievement. Cynics write success off as luck while high-performance individuals...
The Pattern Day Trader Rule (PDT Rule) is one of the most common grievances amongst new traders. This FINRA rule states that traders with less than $25,000 in their accounts are limited to three day trades (known as “round trips”) in a five day rolling period. Failure...
You’ve probably heard the expression, “Jack of all trades, master of none.” This simple maxim speaks volumes on the relationship between effort and outcome. Simply put, those who try to master everything will master nothing. The world’s best cardiologist doesn’t...
Money is a timeless source of confusion, stress, and irrationality for many people. Money's power may seem mysterious, but the reality is most people have a very basic relationship with their capital. The average person only deals with money’s most basic property: its...
Day trading is a game of probabilities where traders attempt to control odds by placing themselves in “low risk, high reward” situations. Of course, the market will never be 100% void of risk, but risk mitigation is still possible. Certain situations have a higher...
