Trader Therapy - Three Traders Answer Beginner Trading Questions

Jack Kellogg, Kyle Williams and I had a great conversation about the challenges of day trading that both beginner and experienced traders face.

We talked about January trading; all three of us have a green month so far. However, Kyle mentioned that while he was still profitable, he took more losses in January than he did in all of December. Jack pointed out that he already had two red Mondays because he was so eager to trade at the beginning of each week. For me, Mondays are also generally the worst day of the week, and Kyle had some challenging Wednesdays.

It is really interesting how the same principles never work exactly the same for different people. For example, I love the PnL challenge that I’ve been doing throughout December and January, but both Kyle and Jack agreed that it makes them mentally add numbers since they’re not supposed to look at the chart to know if they’re up or down.

We answered a number of questions from subscribers. We talked about the dos and don’ts of day trading (gotta love Jack’s opinion on OTC stocks), what keeps us motivated after big losses, and what we wish we knew back when we only started day trading.

We also talked about tracking winning trading setups and finding the edge. Kyle gave a great answer, and I’ll expand on that question in my next video. Subscribe to my channel to get the best day trading tips from me and other profitable traders!