Option Prices Explained for Beginners - Understand Intrinsic and Extrinsic Values

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.

On the Bus with Troy Vollhoffer

1
The Road Back to Country With Blake Shelton 25:13

לפני 13 ימים25:13

הפעל מאוחר יותר

רשימות

לייק

אהבתי

25:13

After taking a four year break on his Oklahoma ranch, Blake Shelton is back on the road and riding the high of his new album, For Recreational Use Only . After 29 number one hits, and a detour into Hollywood, Blake’s scorching hot single “Texas” proves he’s still got it. Country Thunder CEO Troy Vollhoffer recalls meeting Blake Shelton during a crazy storm that really put the “thunder” in Country Thunder. After 23 seasons on The Voice , Blake opens up about spreading himself thin and making the choice to be “a TV guy or a touring guy.” The two reminisce about Toby Keith and why being a road dog is the best way to learn how to entertain a crowd. Blake reveals how his worst on-stage “ass-kicking” taught him how to be himself in front of a crowd. After taking so much time away from the spotlight, Blake shares that it was Post Malone who reminded him that he’s still a country singer at heart.…

לפני שנה 25:15

MP3•בית הפרקים

Welcome to Episode 18 of the "Day Trading for Beginners Podcast". In this episode, we're talking about how options are priced. It's our third chat about options, building on previous ones about what options are and buying and selling them.
Download: If you're walking the same path to become a full-day trader, don't miss my 6-month plan. You can find it at StokesTrades.com/blueprint
What We Cover Today:

Option Prices: Why do you pay what you do for options, whether buying puts or calls?
In the Money, At the Money, Out of the Money: Simple explanations to help you understand these key concepts.
Intrinsic and Extrinsic Values: Breaking down the two main parts that make up an option's price and why it's important.
Time and Volatility's Role: How the time left until an option's expiration and the implied volatility affect its extrinsic value.
Implied Volatility: How the market's guess about a stock's future movement can change the price of options.
Learning Tools: Sharing useful resources and platforms, including a free community platform and an options course module filled with my go-to resources.

Wrapping It Up:
This episode aims to make understanding option pricing straightforward, focusing on intrinsic and extrinsic values—key knowledge for dealing with options.
Stay in Touch:
For more resources, including videos and a community of traders, head over to StokesTrades.com. Let's learn and grow together in trading.
Stay tuned for more simple explanations of trading concepts. Let's make trading easier to understand, one episode at a time.
Send me some feedback!

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

52 פרקים

#Trading #Business #Tyler Stokes

Option Prices Explained for Beginners - Understand Intrinsic and Extrinsic Values

Day Trading for Beginners

0-10 subscribers

published לפני שנה

שתפו

MP3•בית הפרקים

Option Prices: Why do you pay what you do for options, whether buying puts or calls?
In the Money, At the Money, Out of the Money: Simple explanations to help you understand these key concepts.
Intrinsic and Extrinsic Values: Breaking down the two main parts that make up an option's price and why it's important.
Time and Volatility's Role: How the time left until an option's expiration and the implied volatility affect its extrinsic value.
Implied Volatility: How the market's guess about a stock's future movement can change the price of options.
Learning Tools: Sharing useful resources and platforms, including a free community platform and an options course module filled with my go-to resources.

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

52 פרקים

#Trading #Business #Tyler Stokes

כל הפרקים

Day Trading for Beginners

1
The 7 Biggest Mistakes New Retail Traders Make (And How to Fix Them) 20:45

לפני 1 day20:45

20:45

Welcome to Season 3, Episode 8 of the Day Trading for Beginners Podcast! This episode talks about the seven biggest mistakes new retail traders make—and how to avoid them. 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: Portfolio updates: Trading Challenge 2025 Our Community on Skool: Come join us here What You’ll Learn : Letting Emotions Take Control : Emotions like fear and greed can lead to poor trades. Stick to a trading plan and journal your feelings to stay disciplined. Chasing Breakouts into Traps : Avoid buying at resistance; wait for pullbacks to support levels instead. Overtrading : Too many trades can drain your account. Focus on quality setups and resist the urge to trade out of boredom. Ignoring Risk Management : Over-leveraging or risking too much per trade can wipe you out. Use 1-3% entries and aim for steady gains. Abandoning Your Strategy : Stick to your plan, even when the market tests you, to avoid emotional trading. Buying High, Selling Low : Resist buying at peaks and selling at dips—use technical analysis to find support and resistance zones. Lack of Patience and Discipline : Treat trading as a long-term game, waiting for high-probability setups rather than forcing trades. Key Takeaway : Mistakes are part of the learning process—think of losses as tuition for mastering the markets. Awareness and a solid strategy can minimize damage and build confidence. Send me some feedback! 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…

Day Trading for Beginners

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My First 2 Months Trading - 20% Up, Mistakes Made, Lessons Learned 19:56

לפני 16 ימים19:56

19:56

Hi and welcome back to the Day Trading For Beginners podcast! I’m Tyler Stokes from StokesTrades.com , and this is Season 3, Episode 6. In this episode, I share my journey of trading real money for the first time, starting in April 2025. With my portfolio up 20% in just two months, I’m happy—but I’ve made plenty of mistakes along the way. This isn’t a true day trading strategy (despite the podcast’s name), and I explain why my approach works for my busy schedule. Tune in for 6 key lessons I’ve learned, from the importance of patience to avoiding news-driven trades, plus tips for new traders navigating the markets. 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: Portfolio updates: Trading Challenge 2025 Our Community on Skool: Come join us here What You’ll Learn : My trading strategy: Buying at support, avoid chasing breakouts, and riding momentum. Why this isn’t day trading—and how to test strategies with paper trading. Mistakes like selling too early ($HIMS, $GOOG), missing resistance zones ($TSLA, $COIN, $HOOD), and rushing entries ($OSCR). The power of patience: Letting price come to you with 1-3% entries. How charts predict moves before news, and why you should ignore noise on social media. Disclaimer : This is not financial advice. I’m sharing my personal trading experience for educational purposes. Send me some feedback! 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…

Day Trading for Beginners

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Momentum Trading - I'm Using This Strategy While I Wait to Day Trade 15:52

לפני 10 weeks15:52

15:52

Hi and welcome back to the Day Trading For Beginners podcast! I’m Tyler Stokes from StokesTrades.com , and this is Season 3, Episode 6. Today, I’m breaking down momentum trading , the strategy I’m using in my real money challenge from last week. I’m a beginner on a journey to become a full-time trader, but with my schedule, day trading’s not something I can actively do at the moment. So I'm gaining experience with this 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 Resources Mentioned: Our Community on Skool: Come join us here What I Covered Momentum Trading Basics : What it is and how it differs from day trading. Why I Chose It : My schedule led me to this slower, less stressful approach. How It Works : Buy at support, ride the trend, hold for bigger moves. Tools I Use : Market structure, moving averages, and more—simple stuff! Key Takeaways Momentum trading is about catching strong bull trends—higher highs, higher lows—buying at support when buyers are in charge. Think wealth-building, not quick flips! I stumbled into it because day trading’s fast pace doesn’t fit my life right now (kids, family, etc.). This strategy mixes swing trading vibes—holding days, weeks, or longer. That being said, you CAN trade this strategy on shorter time frames. How I do it: Spot bullish structure, buy low at support zones (using tools like Fibonacci, Ichimoku Cloud), and set limit orders at night—no daily stress! It’s slower than day trading (fast profits, in-and-out) but simpler for beginners IMO. You don’t need to watch every tick—just ride the trend and be patient. Tie-in: My real money challenge (updates in my Skool Group) uses this strategy—see my trades in action! Why It Matters Day trading’s the end goal (at least I think it is right now), but momentum trading fits my reality—less time, less pressure, and still profitable if the trend’s right. For beginners, it’s a gentler start: no lightning-fast moves, just spotting trends and holding on. It’s teaching me patience, planning, and market structure—skills I’ll carry to day trading later. Plus, with markets shaky now (tariffs, flash crashes), buying support could pay off big down the road—not financial advice, just my take! Final Thoughts I hope this peek into momentum trading helps! It’s not as flashy as day trading (still my goal!), but it’s working for me—slower, calmer, and wealth-focused. Markets are wild right now, but that’s where support zones shine. Join the Skool Group and follow my real trades and see this strategy play out. Thanks for listening—catch you next episode! Send me some feedback! 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…

Day Trading for Beginners

1
Can I Beat Tesla in This Trading Challenge? 15:00

לפני 11 weeks15:00

15:00

Welcome back to the Day Trading For Beginners podcast! I’m Tyler Stokes from StokesTrades.com , and this is Season 3, Episode 5—a special one! Today, I’m sharing my real money trading challenge , where I’m putting cash on the line to test my strategy. I’m documenting every step, and you can follow along. 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 The Challenge : I’m trading real money with my momentum strategy—fully transparent. Strategy Basics : It’s about buying support, selling resistance. Rules & Goals : Five core rules to keep me disciplined, plus a Tesla benchmark. Why Now : Volatile markets could be my chance—or my downfall. Follow Along : Updates in my Skool group—trades, wins, losses, and lessons. Key Takeaways I’m kicking off today, April 7, 2025, with a market symmetry strategy (details in my Skoo group ). Every trade—entries, exits, wins, losses—goes public there. Total transparency! My five rules : 1) Stick to the strategy, 2) Never chase price, 3) Limit position size, 4) Buy at support, sell at resistance, 5) Stay uncomfortable—buy when it’s tough. More in the group! The fun part: Can I outperform Tesla stock by December 31, 2025? I sold some Tesla shares to fund this (not bearish—just wanted to raise cash!). Why now? Markets are shaky—S&P’s dropping, tariffs are looming, fear’s everywhere. For a momentum trader, these dips might be golden if I time support zones right. Not financial advice! I’m a beginner, not an advisor. This is my journey—watch, learn, but trade your own way. Why It Matters This challenge is about discipline —sharing every trade keeps me honest (no FOMO slip-ups!). It’s also about teaching —if you’re new, you might pick up something useful. Markets are wild, but I’m betting on patience and smart moves. I’ll lean on analysts for ideas, but every trade’s my call. Good or bad, you’ll see it all—I’m learning as I go! Final Thoughts I’m excited to launch this challenge! Will I beat Tesla? Honestly, I’m not sure—Tesla’s my biggest holding, and I think it’ll soar by year-end (not advice!). But this is about testing my skills, staying disciplined, and sharing the ride. Join me in my Skool group for weekly trade updates and monthly portfolio check-ins, wrapping up December 31st. Thanks for listening—let’s see how this goes! Send me some feedback! 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…

Day Trading for Beginners

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From Panic to Profit - What Tesla’s $101 Drop Teaches Newbies 19:45

לפני 12 weeks19:45

19:45

Hi and welcome back to the Day Trading For Beginners podcast! I’m Tyler Stokes from StokesTrades.com , and today I’m digging into why markets wear you down and breaking down support zones for new traders. I recorded this on Monday, March 24, 2025—a green day after a rough month. In my last episode, I talked about liquidity grabs, predicting March might end with a rebound. Before that, I covered market structure and high-timeframe support. Now, as we head into April, I’m tying it all together—did March’s dip hold as a base? By the time you hear this, we’ll know if the market bounced back. Either way, I’m here to explain why these ups and downs test your patience and how understanding support zones can keep you sane. 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 Why Markets Exhaust You : How constant testing of support zones messes with your head. Support Zones 101 : What they are and why they’re key for beginners. Famous Quotes : Wisdom from Warren Buffett and John Maynard Keynes to guide you. Capitulation Explained : What it looks like when traders give up—and why it might signal a bottom. Real Example : My own Tesla capitulation moment in 2023 and what I learned. Key Takeaways Markets wear you down by repeatedly testing support zones —think of them as invisible floors (e.g., $45 for a stock) where buyers step in, but the price keeps dipping back to test it. It’s like a ball bouncing over and over, asking, “Will this hold?” I love Warren Buffett’s line: “The stock market is a device for transferring money from the impatient to the patient.” If you panic-sell at $45 fearing a drop to $40, patient traders win when it rebounds to $48 or higher. Then there’s John Maynard Keynes’ warning: “The market can remain irrational longer than you can remain solvent.” If $45 breaks and drops to $35 for months, you might run out of cash or nerve—especially on margin. Capitulation is when everyone panics and sells (e.g., a break from $45 to $40, then $30). It’s scary, but often marks a bottom—like Tesla’s $101 low in January 2023 after a 65% drop, only to rebound to $173 by month-end. I sold some shares there and learned the hard way! Right now, March 24th feels like a test. If support holds and we’re green into April, it’s a win for patience over panic—maybe even a liquidity grab bottom from last episode. Why It Matters Trading’s a mental game as much as a numbers game. Markets test support to shake out the impatient—market makers love this, scooping up cheap shares while we fret. For beginners, knowing this helps you stay calm, spot patterns, and avoid selling low or betting too big. Experience matters—my Tesla flop ta Send me some feedback! 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…

Day Trading for Beginners

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

לפני 14 weeks21:38

21:38

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!) Send me some feedback! 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…

Day Trading for Beginners

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

לפני 15 weeks19:37

19:37

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. Send me some feedback! 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…

Day Trading for Beginners

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

לפני 19 weeks27:56

27:56

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 Send me some feedback! 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…

Day Trading for Beginners

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

לפני 24 weeks21:06

21:06

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. D Send me some feedback! 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…

Day Trading for Beginners

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

לפני 29 weeks20:32

20:32

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. Send me some feedback! 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…

Day Trading for Beginners

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

לפני 32 weeks15:48

15:48

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. Send me some feedback! 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…

Day Trading for Beginners

1
The Strategy I'm Seeing Results With - How it Works 19:43

לפני 33 weeks19:43

19:43

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. Send me some feedback! 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…

Day Trading for Beginners

1
Day Trading vs Swing Trading + The PDT Rule 18:40

לפני 34 weeks18:40

18:40

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. Send me some feedback! 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…

Day Trading for Beginners

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

לפני 36 weeks19:21

19:21

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. Send me some feedback! 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…

Day Trading for Beginners

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

לפני 37 weeks32:55

32:55

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. Send me some feedback! 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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