B The Trader

Day trading and losses go hand in hand. If your a trader of any sort then you will take losses, and sometimes many in a row before you get out of a rut. I am sharing some of the ideas I am implementing during this losing streak I am in that I know will make an impact on my trading. 

Day trading is a difficult journey and taking losses is one of the hardest parts of this game. When you are working on your consistency and have found the one strategy that you are good at and want to focus on, you will sometimes face a challenge of no trades available or taking a loss on the one signal you get for the entire day....so nothing else to do.... Today I had this experience where I have one set up that showed up today and nothing more...and took a loss and had no chance of making it back.

Steven Dux is a successful day trader who made his millions from penny stock shorting. He started slightly over PDT and worked his way to success through hours of studying, spreadsheets, and mastering his psychology. He understands where he is weak and eliminates reasons for his weakness to show, something I am starting to notice with a lot of successful traders.

Chat rooms are where I got started, I joined a service, watched video lessons, and did this over and over and over again, with different services...Over time I have discovered for myself, what the pros and cons are. I want to share with you my personal opinion on chatrooms, what I learned from them, and what you personally should think about before you join one.

Carl Fred joins me today on B The Trader to discuss many different topics of trading like journaling, mindset, FOMO, taking breaks, and learning's from my many interviews with other traders. 

I like to stay in my own trading lane, in fact, most of the people I interview are so kind to offer me assistance in learning what they are good at and I respectfully decline because I know what works for me and want to become better at that. Somewhere along the way I got off track for a bit and started to branch out into other different trading styles...now this did help me learn more about who I am as a trader and I also picked up some valuable skills along the way of trying something new. Now I am doing well again because I am back to what I am good at, and so I wanted to share the ideas or steps I am taking to stay on track.

Phil Goedeker is a full-time day trader who is also well known in twitter and the trading community as OzarkTrades, however, his old account got hacked and is no longer active. Phil has been trading for 15 years and when he started he was completely on his own, no classes or courses were available at the time. He started out longing stocks for 2 years with no consistency and eventually, he learned he can short stocks. Today Phil Soley focuses on shorting stocks and in this interview he shares some of his thoughts around finding success in day trading. 

As a day trader you will find many days where you go "AHA now I get it!" and this happens often, in fact, I believe it will always happen no matter where you are in your day trading career. You can sometimes forget what the "Aha" moments were when we have found success. Success is such a loaded word too, I mean consistently profitable. I don't care how much money that is for you or john doe, but consistency is the goal. Anyway, I wanted to share with you the top "Aha" moments that helped me become consistently profitable

Mike Huddie is a day trader who started out with Tim Sykes and once he found his niche, "overextended plays" he stuck with it and became a profitable trader. He has had his fair share of mess-ups and he even shares some of the new ideas he is starting to implement into his trading today to help him get better. He has found it hard to size up recently due to a bigger than normal loss that he took after getting over-confident. Now it is difficult for him to get back to the size he was once at. This episode will have you thinking of how you can overcome some of your fears of sizing in a different way. I hope you enjoy and please let me know what you learned from this episode.

After interviewing Seven Points Capital Krishna Joshi and Stan Gluzman, I asked Stan who he felt would be a good guest for the show and he recommended I reach out to up and comer Peter Skalon, a fairly newer member of the Seven Points Capital Team and a consistently profitable trader. His story and how he become profitable is one you want to listen to because I feel you will be able to relate. Especially when he talks about sizing when your just getting started.