Day Trading Stocks With $100,000 | Episode 14

TL;DR

The content provides an update on the trader's profits and explains the reasoning behind their trading decisions.

Transcript

okay so we have $400 profit so far on the open 132 on the day so let me explain to you what happened so that's election only with 4,000 shares which is a little bit under $30,000 I'm actually gonna buy a little bit more so I'll probably buy another 4,000 shares as I mean let me explain to you exactly why so let me get my order fill that should be a... Read More

Key Insights

• 🎚️ The trader focuses on buying on dips and selling on price increases, using support and resistance levels as indicators.
• ❓ The correlation between the direction of certain futures, such as /zl and DWT, influences the trader's trading decisions.
• 🌱 The trader emphasizes the importance of having a backup plan and managing risk in trading.
• 🫢 The natural gas report is a significant event for traders in this particular market.
• 😉 The trader's overall profits for the day are affected by both wins and losses on different trades.
• 💌 The trader mentions the importance of staying disciplined and not letting emotions drive trading decisions.
• 😆 The trader has a positive attitude despite some losses and is satisfied with their overall performance.

Questions & Answers

Q: What was the trader's overall profit and loss on the day?

The trader made a profit of $400 on the 4,000 shares they initially bought. However, they also had a loss of $239 on another trade. Overall, they expect to be up about $800 to $1,000 on the day.

Q: How does the trader's strategy involve buying on dips and selling when the price goes up?

The trader looks for opportunities to buy when a stock becomes oversold and shows signs of support, such as bouncing off the SMA line. They then sell when the price increases and reaches certain resistance levels.

Q: What is the significance of the natural gas report mentioned by the trader?

The natural gas report is an important event for traders as it can affect the price and direction of natural gas futures. Traders like to capitalize on the volatility and movement caused by the release of this report.

Q: How does the trader manage risk and emotions in their trading?

The trader mentions that they manage their risk by controlling their position size and averaging up when a trade is going well. They also emphasize the importance of staying calm and composed regardless of the outcome of a trade.

Summary & Key Takeaways

• The trader has made a profit of $400 on 4,000 shares and plans to buy more shares to maximize profits.

• The trader discusses their trading strategy and the correlation between the direction of certain futures and their trading decisions.

• Despite some losses on other trades, the trader remains upbeat and highlights the importance of having a backup plan.