How to Become a Better Trader - Embracing Trading Obstacles with a Zen Approach

Day Trading for Beginners

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תוכן מסופק על ידי Tyler Stokes. כל תוכן הפודקאסטים כולל פרקים, גרפיקה ותיאורי פודקאסטים מועלים ומסופקים ישירות על ידי Tyler Stokes או שותף פלטפורמת הפודקאסט שלהם. אם אתה מאמין שמישהו משתמש ביצירה שלך המוגנת בזכויות יוצרים ללא רשותך, אתה יכול לעקוב אחר התהליך המתואר כאן https://he.player.fm/legal.

State Secrets: Inside The Making Of The Electric State

1
Family Secrets: Chris Pratt & Millie Bobby Brown Share Stories From Set 22:08

לפני 17 ימים22:08

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לייק

אהבתי

22:08

Host Francesca Amiker sits down with directors Joe and Anthony Russo, producer Angela Russo-Otstot, stars Millie Bobby Brown and Chris Pratt, and more to uncover how family was the key to building the emotional core of The Electric State . From the Russos’ own experiences growing up in a large Italian family to the film’s central relationship between Michelle and her robot brother Kid Cosmo, family relationships both on and off of the set were the key to bringing The Electric State to life. Listen to more from Netflix Podcasts . State Secrets: Inside the Making of The Electric State is produced by Netflix and Treefort Media.…

לפני שנה 20:32

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Welcome to Episode 11 of the "Day Trading for Beginners" podcast, titled "Embracing Trading Obstacles with a Zen Approach." I'm Tyler Stokes from StokesTrades.com, on my path to becoming a full-time trader. In this season we're talking about strategy and for those interested in the details of the strategy I'm using, check out our free community on Skool. For this episode I want to talk more about the mental side of implementing a strategy, and the two main points are identifying obstacles, and developing a "Zen" approach to trading...
Download the 6 Month Blueprint: https://stokestrades.com/blueprint
TradingView Charting Software: Start a free trial here
TraderSync Trading Journal: Visit the official website here
Resources Mentioned:

Our Community on Skool: Come join us here
The Obstacle is the Way - Amazon
The Zen Trader - Amazon
Trading Psychology: Our main topic today revolves around two significant concepts in trading psychology that I've encountered through my readings: "The Obstacle Is the Way" by Ryan Holiday, and "The Zen Trader." Both books offer profound insights into facing challenges not just as barriers but as opportunities for growth and mastery.
The Stoic Philosophy in Trading: The idea that "The Obstacle Is the Way," draws from stoic philosophy, suggesting that what we often see as impediments to our success are actually the paths we need to take. Applied to trading, this means transforming trading challenges into opportunities for developing discipline, patience, and strategic mastery.
Zen Approach to Trading: Alongside stoicism, we explore the Zen approach to trading, which emphasizes introspection and the calm acceptance of market conditions. This method helps in managing our responses to market volatility and maintaining discipline in our trading practices.
Practical Trading Examples: In my own trading, I've identified specific obstacles such as impatience and overallocation. By acknowledging these challenges, I've begun to see them as areas for growth. Addressing these issues head-on helps in refining my trading strategies and improving my overall decision-making process.
Introspection and Growth: I emphasize the importance of introspection in trading—understanding one's emotions, triggers, and habits is crucial for long-term success. Journaling trades and reflecting on trading decisions can significantly enhance one’s strategic approach.
Conclusion: As we wrap up this episode, I reiterate that the true path to trading mastery involves understanding and leveraging one's personal trading obstacles. By adopting a Zen-like mindset and embracing stoic principles, traders can navigate the markets more effectively.
For those looking to dive deeper, I recommend reading "The Zen Trader" and "The Obstacle Is the Way" to get a more comprehensive understanding of how these philosophies can fundamentally improve your trading psychology.
Website and Other Social Accounts:

https://stokestrades.com/

https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:

https://www.skool.com/day-trading-for-beginners

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#Trading #Business #Tyler Stokes

How to Become a Better Trader - Embracing Trading Obstacles with a Zen Approach

Day Trading for Beginners

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47 פרקים

#Trading #Business #Tyler Stokes

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1
Liquidity Grabs and Market Makers - Decoding Market Tricks 21:38

לפני 14 ימים21:38

21:38

Send us a text Hi and welcome back to the Day Trading For Beginners podcast! I’m Tyler Stokes from StokesTrades.com , and this is Season 3, Episode 3. Today, I’m talking about liquidity grabs and market makers —two concepts that might sound mysterious but are key to understanding wild price swings. If you’ve ever wondered what a liquidity grab is or who these “market makers” are that people keep talking about, I’ve got you covered. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here TraderSync Trading Journal: Visit the official website here Resources Mentioned: Our Community on Skool: Come join us here What I Covered Liquidity Grabs Explained : What they are, why they happen, and how they look on a chart. Market Makers Unmasked : Who these big players are and how they pull the strings. Triggers : How stop-loss orders and leverage liquidations fuel these moves. Real-World Context : Why March 2025’s sell-off might just be a scare tactic by market makers. Beginner Tips : How to spot these patterns and avoid panic-selling or chasing highs. Key Takeaways I define a liquidity grab as a sharp price detour—dropping below support or spiking past resistance—to scoop up shares or cash, then snap back like nothing happened. Picture a net grabbing what’s available! These moves often tie to stop-loss orders (e.g., a $49.50 stop below $50 support triggers a sell-off) and leverage liquidations (e.g., Bitcoin dropping from $100K to low $70Ks forces margin sales). Market makers are the heavy hitters—like Citadel Securities, big banks (JPMorgan, Goldman Sachs), or exchange specialists—keeping markets flowing with deep pockets and fast tech. They spot order clusters and push prices to trigger them, grabbing shares cheap or selling high. Right now, I see this in action: Bitcoin’s fall to the $70Ks and Tesla’s dip to the low $200s might be market makers scaring retail traders into selling low—only to rebound later. My advice? Don’t panic-sell at support or chase all-time highs—understanding this can turn confusion into opportunity. Why It Matters After a year of studying charts, I’ve learned these swings aren’t random. Market makers exploit fear and greed, especially in the short term, to profit or manage inventory. For beginners, grasping this helps you see past the noise—whether it’s a news scare or a sudden drop—and stick to your strategy. Long-term, fundamentals win, but short-term, these players can shake things up! Final Thoughts I hope this clears up liquidity grabs and market makers for you! It’s wild to think this month’s sell-off could just be a big wick by April—proof that fear doesn’t always mean a bear market. (Not financial advice—just my take!) Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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Market Structure 101 - A Beginner’s Guide to Reading Trends 19:37

לפני 21 ימים19:37

19:37

Send us a text Welcome back to the "Day Trading For Beginners" podcast! In this episode we're talking about the essentials of market structure - a foundational concept for traders at any level. Whether you’re just starting out or sharpening your skills, I’ll show you how understanding market structure can turn chaotic price charts into a clear story of trends, reversals, and opportunities. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here TraderSync Trading Journal: Visit the official website here Resources Mentioned: Our Community on Skool: Come join us here YouTube Video: Coming Soon What You’ll Learn Market Structure Basics : What it is and why it matters for beginners. Key Terms : Higher highs, higher lows, break of structure (BOS), and change of character (CHoCH). Trend Identification : How to spot uptrends, downtrends, and consolidation using simple examples. Timeframe Impact : Why hourly, daily, or weekly charts tell different stories—and how to pick the right one for your strategy. Practical Tips : How to start analyzing charts with free tools like TradingView and build confidence in your trades. Takeaway Quote “Market structure isn’t a mystery—it’s price showing you who’s boss: the buyers or the sellers.” Next Steps Grab a chart (try Apple or Tesla!), mark those highs and lows, and start decoding the story. Whether you’re day trading or swinging on higher timeframes, this episode gives you the tools to trade with clarity. Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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Season 3 Premier - The Morning Routine for Trading Success 27:56

לפני 7 weeks27:56

27:56

Send us a text Welcome to the "Day Trading for Beginners" podcast, season three, episode one. Today we're talking about an effective morning routine for traders. As we embark on 2025, it's crucial to establish practices that enhance productivity and set a positive tone for the day, especially for those balancing trading with personal commitments. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here TraderSync Trading Journal: Visit the official website here Resources Mentioned: Our Community on Skool: Come join us here The Miracle Morning: Order on Amazon Find My Script Here: https://stokestrades.com/morning-routine-for-traders/ Why a Morning Routine? The reality is, many of us juggle multiple responsibilities alongside trading, which makes a disciplined start to the day even more valuable. A structured morning routine has transformed my productivity, a practice I honed while running my online business before transitioning to trading. The Miracle Morning Method Today, I want to share the Miracle Morning method, which can revolutionize your mornings and can be adapted for trading. The method includes: Silence (S) : Start with meditation or deep breathing to calm the mind and reduce stress, crucial for avoiding emotional trading and just starting your day on the right path. Affirmations (A) : Reinforce your trading goals and mindset with positive affirmations. These help solidify your commitment and focus. Visualization (V) : Picture your trading day unfolding successfully, which can help manifest these outcomes in reality. Exercise (E) : A brief physical activity can energize you and enhance mental clarity. Reading (R) : Spend a few minutes reading something educational or motivational to expand your trading knowledge. Scribing (S) : Journaling your trading plan and reflections can improve discipline and track progress. Implementing the Routine This routine doesn’t need to be lengthy; even a condensed version can significantly impact your trading mindset and effectiveness. Tailor it to fit your lifestyle and see how it transforms your productivity and trading discipline. Adapting to Realities Life’s unpredictabilities, like family commitments or unexpected illnesses, can disrupt our routines. It’s crucial to maintain a long-term perspective and adapt. Success in trading, like in any professional field, requires persistence and resilience. Looking Ahead Throughout this season, we will explore practical trading applications and share real-money trading experiences, documenting the journey in our community on Skool. Join us there for more detailed discussions and to share your progress. Thanks for tuning in to the first episode of season three. I'm excited Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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Year In Review - Lessons from My Trading Journey (Season 2 Finale) 21:06

לפני 12 weeks21:06

21:06

Send us a text Welcome to the "Day Trading for Beginners" podcast, season two, episode 12. Today we're wrapping up the season with a year-in-review episode. As we conclude 2024, a year filled with learning and growth, I want to reflect on the key lessons from my journey toward becoming a full-time day trader and share plans for 2025. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here TraderSync Trading Journal: Visit the official website here Resources Mentioned: Our Community on Skool: Come join us here Lessons Learned The most significant takeaway this year has been the importance of trading psychology. The mental aspect of trading, including dealing with overtrading, FOMO, and maintaining patience, is crucial. Understanding that opportunities in trading are recurrent and that you don't need to rush or force trades was a pivotal lesson. Many successful traders have experienced significant losses early in their careers, underscoring the importance of psychological resilience and the necessity to stick to your strategy meticulously. Tools and Strategies In terms of tools, TradingView has been indispensable for chart analysis, and I recommend it to anyone in the trading field. While paper trading, I realized the importance of not overly stressing about having perfect market data since the strategy I employ doesn’t require split-second decisions typical in day trading or scalping. Regarding trading strategies, while I began with an intent to day trade, the swing and momentum trading strategies aligned better with my personal and professional schedule. This adaptability is crucial as your trading strategy should complement your lifestyle and availability. Community and Mentorship Finding a mentor or joining a community that aligns with your trading goals is vital. However, be cautious as the trading education space can be fraught with expensive and unhelpful courses. The community on Skool, although geared towards beginners, is an excellent start for consistent engagement and learning. Looking Ahead to 2025 As we move into 2025, I plan to start trading with real money, cautiously and transparently. I intend to share my trades within the community, which will not only help others but also enforce discipline in my trading practices. The next season will focus more on specific trading aspects that we didn't get to cover like market structure and understanding market makers’ influence, which are often overlooked but critical for trading success. Final Thoughts For beginners, my advice is to start slowly but remain consistent. Paper trade to make your initial mistakes without financial consequence, and immerse yourself in a community or mentorship to enhance your learning curve. Remember, the journey to becoming a successful trader is marathon, not a sprint. Thank you for joining me this season. I look forward to delving deeper into practical trading strategies and psychological aspects in season three. Don't for Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

1
How to Become a Better Trader - Embracing Trading Obstacles with a Zen Approach 20:32

לפני 17 weeks20:32

20:32

Send us a text Welcome to Episode 11 of the "Day Trading for Beginners" podcast, titled "Embracing Trading Obstacles with a Zen Approach." I'm Tyler Stokes from StokesTrades.com, on my path to becoming a full-time trader. In this season we're talking about strategy and for those interested in the details of the strategy I'm using, check out our free community on Skool. For this episode I want to talk more about the mental side of implementing a strategy, and the two main points are identifying obstacles, and developing a "Zen" approach to trading... Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here TraderSync Trading Journal: Visit the official website here Resources Mentioned: Our Community on Skool: Come join us here The Obstacle is the Way - Amazon The Zen Trader - Amazon Trading Psychology: Our main topic today revolves around two significant concepts in trading psychology that I've encountered through my readings: "The Obstacle Is the Way" by Ryan Holiday, and "The Zen Trader." Both books offer profound insights into facing challenges not just as barriers but as opportunities for growth and mastery. The Stoic Philosophy in Trading: The idea that "The Obstacle Is the Way," draws from stoic philosophy, suggesting that what we often see as impediments to our success are actually the paths we need to take. Applied to trading, this means transforming trading challenges into opportunities for developing discipline, patience, and strategic mastery. Zen Approach to Trading: Alongside stoicism, we explore the Zen approach to trading, which emphasizes introspection and the calm acceptance of market conditions. This method helps in managing our responses to market volatility and maintaining discipline in our trading practices. Practical Trading Examples: In my own trading, I've identified specific obstacles such as impatience and overallocation. By acknowledging these challenges, I've begun to see them as areas for growth. Addressing these issues head-on helps in refining my trading strategies and improving my overall decision-making process. Introspection and Growth: I emphasize the importance of introspection in trading—understanding one's emotions, triggers, and habits is crucial for long-term success. Journaling trades and reflecting on trading decisions can significantly enhance one’s strategic approach. Conclusion: As we wrap up this episode, I reiterate that the true path to trading mastery involves understanding and leveraging one's personal trading obstacles. By adopting a Zen-like mindset and embracing stoic principles, traders can navigate the markets more effectively. For those looking to dive deeper, I recommend reading "The Zen Trader" and "The Obstacle Is the Way" to get a more comprehensive understanding of how these philosophies can fundamentally improve your trading psychology. Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

1
The Hardest Part About Trading + Rules and Common Mistakes 15:48

לפני 20 weeks15:48

15:48

Send us a text Welcome to Episode 10 of the "Day Trading for Beginners" podcast. I'm Tyler Stokes from StokesTrades.com, and today, we're diving into the trading rules I'm adhering to, the common mistakes I've encountered, and the challenges of sticking to a strategy. This episode is crucial for anyone on the path to becoming a full-time day trader, offering insights into maintaining discipline amidst market pressures. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here TraderSync Trading Journal: Visit the official website here Resources Mentioned: Detailed Trading Rules and Mistakes: See this post in our group here. Key Trading Rules and Common Mistakes: Trading rules are foundational, yet adhering to them consistently is a struggle many traders face, myself included. Emotional trading, such as reacting impulsively to market changes or doubling down after losses, often leads traders astray. This is why starting with paper trading is vital—it allows you to experience these pressures without the financial fallout. Essential Trading Rules: Stick to Your Strategy: Discipline is what separates successful traders from those who fail. It’s about executing your strategy mechanically, without letting emotions get in the way. Never Chase Prices: Always let the price come to you. Engaging in FOMO leads to entering trades at suboptimal times. Limit Position Size: Never allocate more than 10% of your portfolio to a single trade. Adjust your investment based on the volatility and your confidence in the trade. Buy at Support and Sell at Resistance: Avoid trading in uncertain ranges. Clear support and resistance levels offer better probability for successful trades. Embrace Discomfort: Buying at support levels, especially during dips, can feel counterintuitive and uncomfortable, but it's often where the best opportunities lie. Implementing Rules and Handling Mistakes: Sticking to these rules is challenging, especially under real market conditions where emotional trading can lead to rash decisions. On Halloween, I was reminded of this when I attempted to buy at what I believed were support levels, only to see the market continue to fall. This experience underscored the importance of not only setting rules but rigidly following them to avoid common pitfalls like overtrading and emotional reactions. Conclusion: In trading, the technical skills required to analyze the market are crucial, but the ability to maintain a disciplined mindset is equally important. Through paper trading, I've been able to practice and refine my approach without financial risk, preparing me for real-world trading where stakes are higher. Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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The Strategy I'm Seeing Results With - How it Works 19:43

לפני 21 weeks19:43

19:43

Send us a text Welcome to Season 2 Episode 9 of the "Day Trading for Beginners" podcast. I'm Tyler Stokes from StokesTrades.com, and as I progress in my journey to become a full-time day trader, I've been exploring various trading strategies. Today, I'll share more specifics about the strategy I'm currently learning, which is more aligned with swing and position trading, though it can be adapted for day trading as well. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here TraderSync Trading Journal: Visit the official website here Resources Mentioned: Market Symmetry Strategy Explained: See this post in our group here. Market Symmetry Strategy: The core of this strategy revolves around market symmetry, recognizing patterns that repeat over time. Key components include: Entry Points: Buy at support levels or after a backtest of a breakout. Trading Philosophy: Focuses on buying during pullbacks to support levels, utilizing patterns to guide trading decisions without emotional interference. Tools and Indicators: To implement this strategy effectively, I use several technical tools: Ichimoku Clouds: Provides a visual representation of support and resistance. Fibonacci Retracements: Helps identify potential reversal points. Gann Charts: Used to observe market symmetry and predict future price movements. Market Structure Analysis: Understanding overall bullish or bearish trends to make informed trading decisions. Learning from a Pro: I've been learning this strategy from a professional trader known as The Great Mattsby , whose insights on market symmetry have been invaluable. For those interested, I've included links to his resources and Patreon in this write up. Practical Application: Practicing this strategy in my paper trading account has been immensely beneficial. It's one thing to study a strategy, but applying it practically offers a whole new level of understanding and skill development. Next Steps: In the upcoming podcast episodes, I'll share my experiences applying these strategies, focusing on the rules I've followed and the common mistakes encountered during live trading sessions. Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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Day Trading vs Swing Trading + The PDT Rule 18:40

לפני 22 weeks18:40

18:40

Send us a text Welcome to Episode 8 of the "Day Trading for Beginners Podcast." I'm Tyler Stokes from StokesTrades.com. As I journey towards becoming a professional day trader, I'm exploring various trading strategies, and in this episode, we'll compare day trading with swing and position trading. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here TraderSync Trading Journal: Visit the official website here Resources Mentioned: Market Symmetry Strategy Explained: See this post in our group here. The WIKI: Download it here (There may be newer versions you can search for on the forum) Today’s Topic – Trading Strategies Compared: Many beginners will likely need to decide whether day trading, swing trading, or position trading suits their lifestyle and goals best. This episode breaks down the differences and shares insights into the strategies I am currently exploring. My Trading Strategy Exploration: Day Trading Strategy: Following a strategy from the Real Day Trading Reddit group, focusing on quick, intra-day trades to capitalize on short-term market movements. Swing/Position Trading Strategy: Inspired by a trader known as The Great Mattsby, this strategy involves holding positions longer to leverage market trends, which I find increasingly appealing. Key Differences: Day Trading: Involves buying and selling within the same trading day. Requires intense focus and quick decision-making to exploit small price movements. Swing Trading: Targets gains over several days to weeks by taking advantage of short to medium-term trends. Position Trading: The longest-term trading strategy, where traders hold positions for months or even years, based on broader market trends. PDT Rule Discussion: An essential aspect for day traders to understand is the Pattern Day Trader (PDT) rule, which affects traders using margin accounts in the U.S. by requiring a minimum account balance of $25,000 if executing four or more day trades within five business days. Choosing the Right Strategy: Deciding on the right trading strategy involves testing and personal reflection. While I began with a focus on day trading, my current study of swing and position trading strategies may influence a shift in my trading approach. Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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My Day Trading Setup - Computer, Software and Tools You Need 19:21

לפני 24 weeks19:21

19:21

Send us a text Welcome to Episode 7 of the "Day Trading for Beginners Podcast." I'm Tyler Stokes from StokesTrades.com, on my journey to becoming a full-time day trader. This episode, we're exploring my initial day trading setup as a beginner who's recently started paper trading. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here TraderSync Trading Journal: Visit the official website here Our Free Community on Skool: See this post in our group here. All Resources: https://stokestrades.com/day-trading-setup/ Setting up your trading environment is crucial as you transition from learning to actual trading. I’ll share the details of my current setup to help you understand what you might need to get started efficiently. Essential Components of My Setup: Brokerage Account: I use Interactive Brokers for its robust platform. Charting Software: I’ve chosen TradingView for its user-friendly interface and comprehensive tools. Trading Journal: Trader Sync is my choice for tracking trades and analyzing performance. Scanners and Screeners: I use Interactive Brokers' scanner and TradingView’s screener to identify trading opportunities. Computer and Monitors: A reliable computer with at least two monitors is crucial for effective trading. Guidance for Beginners: Don’t feel pressured to have everything figured out immediately. Start with the basics, and as you advance in your trading journey, you can refine your setup. The key is to begin with essential tools that allow you to execute and analyze trades efficiently. Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

1
What is Margin? Margin Calls and Requirements Explained for Beginners 32:55

לפני 25 weeks32:55

32:55

Send us a text Welcome to episode 6 of the "Day Trading for Beginners Podcast." I'm Tyler Stokes from StokesTrades.com, embarking on a full-time day trading journey. This episode, we're taking a brief pause from strategy discussions to talk about a fundamental concept every trader encounters: margin. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here TraderSync Trading Journal: Visit the official website here Our Free Community on Skool: See this post in our group here. Today’s Topic – Understanding Margin: Margin trading can significantly increase your purchasing power but comes with its risks. This episode will break down the basics of margin, including what it is, margin requirements, margin calls, and how margin impacts buying power. Key Concepts Covered: What is Margin? It’s essentially a loan from your brokerage that allows you to buy more stocks than your cash balance would permit. This can amplify both gains and losses. Margin Requirements: These are the guidelines set by brokers that dictate how much money you must keep in your account to cover your borrowed funds. We'll explain initial and maintenance margins. Margin Calls: If your account value falls below the required level, you’ll face a margin call, compelling you to deposit more funds or sell some assets. Buying Power: With margin, your buying power increases, allowing you to hold larger positions than you could with just your cash. However, this also increases your financial exposure. Understanding the Risks: While margin can expand your investment capabilities, it also enhances potential losses. Managing these risks is crucial, especially for beginners not trading with real money yet. Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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Win Rates and Ratios - The Keys to Consistent Day Trading Profits 21:42

לפני 26 weeks21:42

21:42

Send us a text Welcome to season 2 episode 5 of the "Day Trading for Beginners Podcast." This episode focuses on essential trading metrics: win rates and risk-to-reward ratios, crucial for evaluating the effectiveness of your trading strategy. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here TraderSync Trading Journal: Visit the official website here Our Free Community on Skool: See this post in our group here. Today’s Focus – Win Rates and Risk-to-Reward Ratios: Understanding and calculating win rates and risk-to-reward ratios are fundamental for any trader. These metrics help you gauge the effectiveness of your strategies and manage your trades more precisely. Win Rates: Your win rate indicates the percentage of trades you win out of the total trades you make. For example, a win rate of 60% means you win 60 out of 100 trades. Aiming for at least a 75% win rate is a good benchmark for consistent profitability. Risk-to-Reward Ratios: This measures potential gains against potential losses in each trade. A common target is a 2:1 ratio, where you aim to gain $2 for every $1 risked, balancing the occasional losses with more substantial gains. Trading Tools and Resources: TradingView: I use TradingView for analyzing trades and setting up charts. It's a powerful tool for seeing how confluence works in action. You can start with a free account. Visit their website here. TraderSync: To journal my trades and track these metrics over time, I will use TraderSync. It's essential for refining strategies and improving trade outcomes. Visit their website here. Community Engagement: Join our Day Trading for Beginners group on Skool where you can connect with other traders, find accountability partners, and access a wealth of shared knowledge. Closing Thoughts: Mastering win rates and risk-to-reward ratios not only enhances your trading strategy but also boosts your confidence in making informed trading decisions. These metrics are key to managing your trades and ensuring long-term profitability. You won't master them right away, but overtime you should understand what these are in your own trading. Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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Confluence... Do You Know What This Means? 8:01

לפני 27 weeks8:01

8:01

Send us a text Welcome to another episode of the "Day Trading for Beginners" podcast. In this short episode, we're going to talk about confluence. If you're just joining us, be sure to download the 6 Month Blueprint that offers a roadmap for your first steps as a day trader. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here The WIKI: Download it here (There may be newer versions you can search for on the forum) Our Free Community on Skool: See this post in our group here. What is Confluence? Confluence in trading refers to a situation where multiple technical indicators or analysis techniques align, suggesting a more robust forecast for market direction. This alignment increases the likelihood of a successful trade by reinforcing the signal strength. Seeing Confluence in Action: To observe confluence firsthand, you can use charting tools like TradingView. I've included a link in the show notes for you to access TradingView, where you can sign up for a free account with some limitations. This tool is excellent for visualizing how different indicators converge on a chart to indicate potential trading opportunities. Why Confluence Matters: Understanding and identifying confluence is crucial because it helps traders make more informed decisions. Instead of relying on a single indicator, confluence allows you to gather evidence from multiple sources, reducing the risk of false signals and increasing your confidence in executing trades. Examples of Confluence: Moving Averages: A bullish signal is reinforced if the price is above both the 50-day and 200-day moving averages, and the shorter moving average crosses above the longer one. Support and Resistance Levels: A price breaking through a resistance level while other indicators signal a bullish trend can signify a strong upward move. MACD (Moving Average Convergence Divergence): If the MACD line crosses above the signal line at the same time the price moves above a key moving average, it suggests bullish momentum. Volume: An increase in trading volume accompanying a price breakout above resistance indicates strong buyer interest and supports the price movement's sustainability. Ichimoku Cloud: When 3 of the 4 indicators are bullish on the Ichimoku Cloud, and price is above the 50 week moving average, there is confluence among these indicators. Closing Thoughts: Today's episode was a concise exploration of confluence, a key concept that you'll encounter repeatedly in your trading journey. By understanding and utilizing confluence, you can enhance the accuracy of your trades and make more strategic decisions. Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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How to Tell the Story of a Stock + I Bought a Trading Course 13:03

לפני 28 weeks13:03

13:03

Send us a text Welcome to another episode of the "Day Trading for Beginners" podcast. In this season, we are discussing strategy. If you're just joining us, be sure to download the 6 Month Blueprint that offers a roadmap for your first steps as a day trader. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here The WIKI: Download it here (There may be newer versions you can search for on the forum) Exploring a New Strategy: Today’s episode focuses on understanding the 'story' a stock tells through its market behavior, a concept I encountered while studying the strategy guide from the RealDayTrading Reddit group. You can find this guide, which is integral to the strategy we're discussing, linked above. The Importance of the Stock's Story: In the guide, there's a section that explains how to interpret the narrative of a stock, exemplified through a case study of Microsoft. The guide stresses the importance of context in evaluating price movements—understanding the 'story' helps distinguish between meaningful trends and market 'noise.' This clarity is crucial for making informed decisions about when to enter or exit trades. Connection to Another Strategy: This concept of storytelling in stock analysis reminded me of another trader, Matt, known as 'The Great Mattsby,' whose insights I’ve followed on YouTube and X. Matt has an exceptional knack for breaking down complex market data into understandable narratives. I have no affiliation with Matt, but his expertise in telling the story of a stock and market has significantly influenced my understanding of technical analysis. Learning from Matt: Visit Matt on YouTube here Visit Matt on X here Impressed by his approach, I decided to invest in Matt’s course to deepen my knowledge of technical analysis and market patterns. Matt's course offers detailed video lessons on various technical indicators and trading strategies, focusing on market symmetry — recognizing consistent patterns that indicate potential buying or selling opportunities at support and resistance levels. Matt’s Unique Perspective: When I asked Matt about his edge in trading, he highlighted his ability to identify market symmetry across different charts, which he believes is crucial for trading without emotion. This skill allows him to execute trades based on solid analytical foundations rather than speculative guesses. Why This Matters: Understanding the narrative that charts and market data present can transform how new traders perceive and react to market conditions. This approach not only aids in developing a strategic edge but also aligns with the lessons from the free Wiki guide by providing a structured method to interpret market dynamics. Looking Ahead: As we continue to explore these strategies, I plan to integrate insights from both the Wiki and Matt’s teachings Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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My First Day Trading Strategy - Finding An Edge 16:13

לפני 29 weeks16:13

16:13

Send us a text Welcome back to the "Day Trading for Beginners" podcast. Today, we reveal the first day trading strategy I'm exploring. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here The WIKI: Download it here (There may be newer versions you can search for on the forum) Resource: Relative Strength and Weakness Explained Transitioning from Basics to Strategy: Having established a solid foundation over the initial six months, which covered everything from setting up a brokerage and paper trading account to understanding the basics of stocks, options, and technical analysis, the question now is: what's next? How do I decide on a strategy for making trades? Choosing My First Strategy: The strategy I've decided to start with comes from the founder of the ReaDayTrading Reddit group, named Hari. He has created a comprehensive guide, or Wiki, which is completely free and appears to offer transparent, valuable insights into day trading. The Trading Strategy: This strategy revolves around following the big moves in the market, specifically what large institutions are doing. The theory is that by understanding and mimicking the actions of these major players, smaller traders can find success. "The edge of this strategy lies in closely tracking the actions of big institutions. These entities have the financial power to significantly influence market movements, and by aligning with their trades, you can leverage their market impact to your advantage." Exploring Further Strategies: While I begin with this strategy, I'm also looking into another strategy by a trader named Matt, known as 'The Great Mattsby'. I'll share more about this and compare the two approaches in future episodes, providing insights into why different strategies might appeal to different traders. Download Resources and Subscribe: Visit StokesTrades.com/blueprint to download the 6 Month Blueprint for free and subscribe to the podcast to not miss out on forthcoming episodes detailing real day trading strategies and educational content. Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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Season 2 Premiere - It's Time to Learn a Strategy 18:54

לפני 30 weeks18:54

18:54

Send us a text Hi, I'm Tyler Stokes, and I'm thrilled to welcome you back to the "Day Trading for Beginners" podcast. If you're a new listener, I recommend starting with Season 1 and downloading the 6 Month Blueprint to catch up on all we've covered. For those who've been with us, welcome to the next phase where we'll focus on actual day trading strategies. Download the 6 Month Blueprint: https://stokestrades.com/blueprint TradingView Charting Software: Start a free trial here Resource: Technical Analysis for Beginners The WIKI: Download it here (There may be newer versions you can search for on the forum) Recap and Introduction: Season 2 is all about moving forward with what we've learned and applying it to day trading strategies. If you're just joining us and feel new to the scene, it's crucial to start from the beginning to build a solid foundation. The 6- Month Blueprint outlines all the essential steps from setting up a brokerage account to understanding the basics of technical analysis. Strategy Exploration: The primary goal for this season is to transition from understanding technical tools to learning a trading strategy. We'll explore various strategies, starting with an approach from the RealDayTrading Reddit group's Wiki, which I've found to be a robust starting point. Paid Resources: While the initial learning phase can be done for little to nothing, there comes a time when investing in more detailed courses or tools may be beneficial. I'll share my experiences with paid resources that can offer deeper insights into specific strategies or technical setups as the season progresses. Mindset and Expectations: It's crucial to maintain a balanced approach between eagerness to progress and realistic pacing. The journey to becoming a proficient trader can take years, and it's important to pace yourself according to your life's commitments and time availability. Looking Ahead: In the next episodes, I'll review the specifics of the strategies I'm exploring, including insights from the Wiki and additional resources that may involve some costs but offer substantial educational value IMO. We'll discuss how these strategies can be integrated and adapted to suit individual trading styles and goals. Stay Tuned: Thank you for joining me as we kick off Season 2. Be sure to subscribe to the podcast. I look forward to sharing more about my trading strategy explorations and learning experiences in upcoming episodes. Join Us: Remember to join our free community on Skool for more interactive discussions and shared learning experiences. Here's to a productive season of trading insights and strategy development! See you in the next episode. Website and Other Social Accounts: https://stokestrades.com/ https://www.youtube.com/@StokesTrades Join Our Free Community on SKOOL: https://www.skool.com/day-trading-for-beginners…

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