Fast Video Sales Toolkit

3 Strategies YouAre Not Using

00:00:00.00 - (duration:00:18.58) - Much of the work you can do as a trader can be done while you are seeking out trading strategies, software and the markets you are interested in such as Futures, Forex, Stocks or Options.While day traders are the topic of this piece, this is something every trader should do.

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Multiple opportunities for day traders

00:00:18.58 - (duration:00:15.17) - I kept the day trader in mind because through the course of a trading session, there are multiple opportunities for a trader.They are tasked with following their trade plan on a more frequent basis and also veering from that plan throughout the session is always a risk.

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DailyWeeklyMonthly4 hour

00:00:33.75 - (duration:00:14.79) - Think about a swing trader.Their setups probably don't come on a daily basis due to the time frame they may use. If they take a losing trade and have a negative reaction, the next setup may come much later which allows them a chance to recuperate from the loss.

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The Why Do You Trade Strategy

00:00:48.54 - (duration:00:09.41) - 1. The Why Do You Trade StrategyI know some of you have just said for the money but if that is main motivator, any type of success will be short lived.

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00:00:57.95 - (duration:00:13.81) - Here is why: Imagine that you have taken a trade and it turns out to be a loser. That goes against your main reason for trading so you find a way to get into another trade. Often times you will not follow your trade plan because, after all, you trade to make money.

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Move your stop further from price

00:01:11.76 - (duration:00:11.05) - What about a trade the you are in that is currently underwater?I've done it and I bet many of you have done it as well where you move your stop further from price because "this is just a small correction."

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00:01:22.81 - (duration:00:10.61) - If making money is your main goal, you may be hesitant to take your stops when your plan calls for it. If you are not making money, you are losing money and that is not what your objective is.

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00:01:33.42 - (duration:00:13.26) - Take time to read about those who have reached a higher level of success in business, sports, trading.anything really, and you will find that money is rarely mentioned.Because money by itself is a horrible motivator for the long haul.

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You can "make money" washing dishes at the nearest restaurant.

00:01:46.68 - (duration:00:04.11) - You can "make money" washing dishes at the nearest restaurant.

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Your reasonmust be bigger

00:01:50.79 - (duration:00:09.25) - Your reason must be bigger than that because bigger goals can get you through the rough patches. You can expand on money (if that is where you are starting) and ask "what will money bring me"?

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Quality time with family

00:02:00.04 - (duration:00:12.10) - For me, trading and all the fruits that come with it allowed me the ability to be home with my kids during the early years. I never missed a Christmas concert, a sporting event or anything else they've been involved in.

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00:02:12.14 - (duration:00:12.10) - My children are one of the reasons I wrote about when looking deeper into why I wanted to trade.As you dig deeper into the trading experience, you will learn a lot about yourself both the positive and the negative.

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PatienceAcceptanceConfidence Full responsibility

00:02:24.24 - (duration:00:14.90) - The negative is brought to the forefront and trading can become a personal development endeavor.Patience, acceptance, confidence and the ability to take full responsibility for your actions falls way outside the walls of trading.

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One of my defining moments

00:02:39.14 - (duration:00:17.76) - One of the best moments for me was being in a trade and watching as price came close to my stop. The stop was in a position that if hit, would signal that my setup had failed.I could have exited early and saved some money but until the stop location was hit, the trade was still in agreement with the setup.

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00:02:56.90 - (duration:00:16.23) - I watched price tick down until it took my protective stop and the money that was risked on the trade. I took a deep breath and instead of getting upset, I simply said the word "next".It was a great moment because in that moment, there was growth in me not only as a trader but also as a person.

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Take the time to look inside and big picture why you trade.

00:03:13.13 - (duration:00:18.68) - Take the time to look inside and big picture why you trade.Dig right into it and even describe in detail what you picture when you think about the why. Your drive, your why, has to be strong because in your development, there will be hardship. There will be disappointment and loss.

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This strategy is not a one time event.

00:03:31.81 - (duration:00:08.08) - You will need a tool to get you back in the saddle to keep your confidence strong and to keep you moving forward in the right direction.This strategy is not a one time event.

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Constant review is vital

00:03:39.89 - (duration:00:16.02) - You may adjust your why over time as you mature in the trader role. You will also review your big picture why when you find yourself going off track and when the frustration sets in.If this is where you stop reading and have taken on this task, then this article has done its job.

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1 of the most important things you can do

00:03:55.91 - (duration:00:05.89) - Believe that this is one of the most important things you can do as you venture out on the road to success as a trader.

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The Fake It Until You Make It Strategy

00:04:01.80 - (duration:00:12.46) - 2. The Fake It Until You Make It StrategyWhy is everyone so quick to jump to using real money when they can't even perform using a demo account? With most demo accounts, even if you market into a trade you will get the price that you wanted.

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00:04:14.26 - (duration:00:13.16) - You are not influenced by the same demons that real money traders can fall victim to.You don't have to worry about blowing your $50,000 fake money - unless you bet the farm on every trade because you haven't taken risk management seriously.

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Demo trading makes it easy to win

00:04:27.42 - (duration:00:15.76) - Demo trading makes it easy to win but it's an afterthought for some. For others, they jump into real money before they can make it with fake money.It's quite possible that those people who jump to real money before proving themselves actually have MONEY as their big "why" for trading.

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00:04:43.18 - (duration:00:07.79) - Perhaps spending a few hours in a demo account without the possibility of making money regardless of how great you trade seems like a waste of time.It isn't.

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You get to master your trading strategy.

A time to build the positive habits.

A time to practice executing your trading strategy like a master.

00:04:50.97 - (duration:00:17.76) - This is the time you get to master the trading strategy you have chosen above.A time to build the positive habits of not only risk management and following a trade plan, but also to cement the "why" behind your trading.A time to practice executing your trading strategy like a master.

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50 to 100 mistake free trades.

Ending the month break-even after commissions or better.

Reviewing each trading session by using a journal.

00:05:08.73 - (duration:00:17.11) - Give yourself a few goals: 50 to 100 mistake free trades ending the month break-even after commissions or better reviewing each trading session by using a journal to note how you felt throughout the session.There is a drawback with setting a goal about ending a time limit at break-even.

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You will lose

00:05:25.84 - (duration:00:12.42) - 1. Trading strategies, whether scalping, day trading or swing trading are going to have losses. They will come in a random distribution so it is quite possible you spend the time simply trading your way back to the initial account balance.

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Lack of setups

00:05:38.26 - (duration:00:12.06) - 2. Your trading strategy may only have a few setup either because of the strategy criteria or the current market condition. A few losses and you may not get enough setups to be able to meet the break-even goal.

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Welcome to the real world of trading !!!!

00:05:50.32 - (duration:00:11.22) - Welcome to the real world of trading where a losing month is entirely possible.This is one thing you should keep in mind when you are listing out income goals and how much you need to make to meet your basic needs.

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RememberMost Fail

00:06:01.54 - (duration:00:16.04) - There is no guarantee, even if you are a trading master, that you will end each and every month on the plus side so make sure you plan for that.Sim trading gets a bad rap from the trading crowd but remembering that most in the trading crowd fail, perhaps shows that it's a great idea.

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The Relaxation Strategy

00:06:17.58 - (duration:00:14.65) - 3. The Relaxation StrategyComing into a trading session tense and under pressure to perform will ensure that you don't perform. Ending a trading session after a horrible performance can have you bringing that baggage into the next session.

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00:06:32.23 - (duration:00:09.98) - You have to find ways to come into the session with a balanced state of mind.Many traders meditate and even use an affirmation mp3 to get their mind into a peak performance state.

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CNBCCalming music

00:06:42.21 - (duration:00:07.17) - Calming music instead of listening to the talking CNBC heads can go along way in keeping you centered on the task at hand.

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Yoga

00:06:49.38 - (duration:00:12.72) - Yoga and especially the breathing techniques that you learn are also a great benefit to a trader. Not only will Yoga deal with a body that sits in front of a screen all day but breath control can actually help keep you calm.

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ExerciseDiet

00:07:02.10 - (duration:00:13.30) - Exercise and proper diet are two things that should never be ignored. Whether you train at a gym or at home with a workout cd, exercise has the ability to rid you of the tension and stress that you will feel at times in your trading career.

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00:07:15.40 - (duration:00:10.51) - Journal your trading experience on a daily basis can help you see where you are starting to go off track. That will give you the ability to address it before it becomes a habit that is hard to shake.

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Being relaxed will aid you in following the trade plan

00:07:25.91 - (duration:00:05.80) - Being relaxed will aid you in following the trade plan you set up as well as temper the emotions during a losing period.

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"Successful trading is always an emotional battle for the speculator, not an intelligent battle."

00:07:31.71 - (duration:00:19.54) - Jesse Livermore said: "Successful trading is always an emotional battle for the speculator, not an intelligent battle."This points mindset being an important factor but doesn't eclipse the need to have a trading strategy you understand, have tested and know the probabilities of.

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Trading strategy is only part of the equation

00:07:51.25 - (duration:00:15.42) - Day Trading Is Not Just Pushing ButtonsThere is no question that to have any chance of succeeding, you must get a handle on other areas outside of the trading strategies you are using.The three strategies just mentioned can go a long way in being more well-rounded when approaching the trading profession.

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And it is a profession.

00:08:06.67 - (duration:00:08.54) - And it is a profession.Too may day traders just focus on strategies and not enough on the more obscure variables that are required to have a chance of reaching your goals.

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00:08:15.21 - (duration:00:12.07) - The bars you see moving on the chart are moving because of the actions of other traders. Know that many of them take this business more seriously than you do and will have no problem putting your money in their account.

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Be well rounded in your approach to trading success

00:08:27.28 - (duration:00:14.00) - Step outside of simply finding day trading strategies. Read trading books on other aspects of trading such a trade psychology.Seek to improve your internals through some of the strategies above and perhaps your goals will see reality.

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