Day Trading Tip | How I Use the SPY as a Day Trader to Make Me Money
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- เผยแพร่เมื่อ 9 ก.ค. 2020
- In the challenging world of being a day trader and making money online from day trading stocks, any trading tips and suggestions are a good thing. I'll be the first to admit it is very fun to talk about all the opportunities and benefits that can come along with being a day trader such as being able to make money no matter your location; however, let's focus on those two words: make money. Meaning, you actually need to have a trading strategy that produces results and can give you consistency over the long term as a day trader. I want to show you a trading tip that has really helped me make money in the stock market. No worries, this video is not going to me teaching you how to trade using a textbook or theory, I'm going to show you a real life trading result of mine that demonstrates just how powerful the SPY can be when used withing your day trading stock strategy. Trade management is one of the most important skills you must learn as a day trader and this tip of using the SPY will help give you an extra edge in the market and align the probabilities of success more in your favor.
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now i keep a SPY chart up to see whats its doing....
its like a baby you have to watch in one room while you are trying to cook in the kitchen...
So true
Absolutely 🤣
@@mohamedayoub3608 cheers
Lol
how do you find a good chart?
Awesome vid as usual Clay! Thanks for this!
I wonder if SPY has the same impact on smaller cap stocks ($2 - $10), or if it only tends to correlate to the larger cap stocks?
usually not
Hey Clay thanks for another great video! When trading a stock that trades on the Nasdaq, do you watch QQQ instead? Also, why 5 mins on SPY if scalping? Why not 1 or even 2 mins?
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
I day trade exclusively BA. There’s always some money to be made (or lost!) there every day. Big swings, good liquidity and ETB for shorts. I keep the SPY and the Dow open and keep peeking back and forth. Lately BA has had a mind of it’s own, going on some wild rides!
Excellent vid, love your channel! Keep makin’ money brother!
Cheers and thanks for sharing!
Clay your a good trader--I like how you explain things, you keep it simple. Keep up the good work. You are the guy I always turn to for good trading videos.
I appreciate that!
The best youtube channel for traders👍 Love your videos
Thanks!
I love your videos! You have a very easy to understand videos. I just figured out about two weeks ago about how important SPY was. I knew SPY was important, but I didn't understand that I should look at SPY each time I traded.
Glad it was helpful!
So, let me ask this since I'm fairly new to trading. Does the Spy, QQQ, and other ETFs give you a general idea of where the momentum is heading for certain stocks in that particular ETF? Thanks!
Thank you!!! Very well explained!!!
You are welcome!
Hey Clay, just a quick question for you… Since there were multiple candle rejections of the VWAP on the BA chart and the SPY was selling off, wouldn’t it have been a better strategy to short as close as possible to the VWAP once you see the candle rejecting it again?
if you're interested in "talking stocks/trading in general", you are more than welcomed to join my private community - claytrader.com/team/
So just had my second day of day trading, all of my indicators (vwap and ema) were looking good for MRO and I went long based off of those indicators. However what I hadn’t put into account was the SPY!! a massive down trend on SPY and although the indicators looked good MRO eventually followed SPY downward and I had to take a loss of $98 😭😭😭
A big L for me but a lesson learnt! I immediately searched and found this video which helped out alot!
If your starting out like me, SPY ain’t nothing to be played with. Respect the SPY first before looking into your indicators for your chosen stock!
Thanks for sharing!
So true man 😅.
I love your videos. Thanks, Clay.
Thanks for watching!
I saw exactly what you were talking about. You explained what I was not quite getting. Thanks! I trade SPY and BA LOL.
Glad it could help!
great idea to combine lecture with live technicals.....yea but if i am trading fang stox , shld b using qqqs instead? good vid. also, wat platform is that?
You could use a combo of both
A correlation of spy etf and BA? Was this applicable too sir for American airlines, FB, and apple?
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
ClayTrader thank you sir
when you buy or sell does it go to broker to execute or server executes the trade? just wondering.
Depends on the type of broker you are using.
@@claytrader webull. mainly swing trade and long till i hit my target. I wanted to do tesla but a bit scary looking down.
I have been a fan for almost a year and finely I become a member in your inner circle!! you are the best
Welcome aboard Omar!
8:22 you went in ($195.09) and went out ($195.16). 13:36 BA price down to ($194.18). Isn’t better if you wait 5min more? The other question is what happen if I sell 100 of BA at($195) and keep it for 1day and buy 100 BA 1day later at ($185) could I make money on this? Is there any time limit when you do shorting? Thank you
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
Ive been learning for hours now, lol. Thank you.
How much have you been absorbing?
Thank you Clay. Learned something new. Clay, can you do a video on the inverse relationship gold has to regular stocks in the market and how and when they work against each other or with each other. Maybe how to know on a given day how the two will act.... Thank you
Great suggestion!
Hey Clay, please tell us what software did you use to do this great demonstration.
Here ya go: claytrader.com/resources/
Thank you very much love the way you explain a child can understand it
Glad it was helpful!
Sorry, is that flashing green and yellow screener thing something that can be explained to me? Is all that detail for one stock? Is it level 2? Please explain like I'm early on my trading journey
It's Level 2...
Nice. It's make sense to use ETF with stocks from this category?
Yes, exactly
So I prefer and my capital allows Penny Stocks. Could this apply to them as well... since s&p is majorily blue chip stock; does it affect penny stocks too?
penny stocks are their own creatures....
Great video clay, learned a lot
Glad it helped!
Thanks man I learned something new
Glad to hear it
Is the SPY a better indicator than the DOW ? Or do they both work the same
Never tried the DOW
Clay we enjoy these videos. The more the better. We'd like to see more videos of your losing trades as well
Thanks for the feedback
Clay I am hoping you’ll do another version of selling short. I’m starting to understand but don’t have Avery good grasp yet. It’s hard to understand the bigger end game on it
I offer an entire class on it here claytrader.com/takecontrol/trading-freedom-pathway-how-it-works/
How much were you in for? Were you buying on margin/leverage? Because it looks like 300 shares@$194.75 is a lot of out of pocket dough. Can you please explain? Thanks
Yes, I use a margin account with 4:1 leverage.
Thank you for the video. Question, What trend analysis tool do you use?
I'm not sure what you mean.
@@claytrader I meant “technical” analysis tool. Apologies, typo
@@jamalallen4899 I still don't understand the question.
@@claytrader i think he means indicators
@@hbko4218 maybe!
This is an OUTSTANDING video
Thanks!
Which fx pair and indices can these system work with...
You'll have to experiment.
you're using your time wisely...love your educational videos sir....thank you
Glad you like them!
GREAT CONTENT KEEP IT UP. THANKS
Appreciate it!
Asked a similar question on another one of your videos - Which of the two brings the other down? If SPY is the swimmer and BA is the ball and chain, how is SPY affecting the price of BA in the real world?
if you're interested in "talking stocks/trading in general", you are more than welcomed to join my private community - claytrader.com/team/
Clay more general question here, overall are you more bullish financial sector or energy sector??? I know it's not a daytrading question. Thx friend!
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
Question, can you sell stocks without buying from the first place so you can be short? I’m sorry, I’m a rookie. :)
Watch this claytrader.com/videos/shorting-going-short/
What's your opinion on relative rotation graph? Can you do a video on it in the future?
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) you can find it here claytrader.com/team/
Yeah this is how i trade. I call it SPY sympathy strategy, currently green 83% of my trading days, losing about 1/2 to 3/4 on my losing days then what I make on my winning days. Been trading like this for 2 years now, didn't know someone made a video on it 🤣...and now I also have an easier way to explain to people the theory behind my trades...thanks a million clay. Solid work easy to understand explanation.
I also wait for the VIX to confirm that move in the SPY, that's my only complaint about this video, talk about the VIX a little next time.
Cheers
I like clay because he is genuine guy not like other fake millionaire youtuber who come on youtube claim big sheet talk too much for couple of days or weeks and then disappear in the air
Been here since 2013 lol
But what if I only trade SPY options. Should I look at the Q’s for reference?
You have no edge then if you only trade SPY.
Sir, Chances of price going up or down after hitting any level is 50-50.IF 4 hour chart based support/resistance level gives trader an edge of say 5% (of price deflecting at the level),would that edge be good enough to make money? Let trader put standing orders each day,each order has take profit & stop loss --TP about 150-200% of SL--and let statistical odds play out.New orders each day after day.Sir, Any suggestions/modifications??
if you're interested in "talking stocks/trading in general", you are more than welcomed to join my private community - claytrader.com/team/
😂 way to go, you cant simplify trading like that. All that you mentioned vary and can be a thousand different combination - to make something profitable
Since I really like your explanation style, video idea : managing risk/not blowing up your account. Would love a video from you on that
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
does the spy only effect the stocks in the S&p 500 or all stocks?
All stocks heavily correlated, unless dollar volume and catalyst with penny stocks lol
watch this claytrader.com/videos/how-i-find-stocks-to-trade-day-trader-strategy/
Watching and enjoying every single video yo make!
Do your services also work in Europe?
- Elwin
Yes, what I teach works no matter where you live
great vid man just cashed 95k just by following SPY
congrats
What trading platform are you using and were you shorting or trading an option?
Here ya go: claytrader.com/resources/
Thanks for the idea, I'll probably be using qqq for the stocks i have.
Cheers
Love the video, Thks
Cheers!
I love how you put the live trade and it was not the best one....:) Subscribed
Thanks for the sub!
@@NWorship here ya go: claytrader.com/resources/
@@NWorship cheers
Are you using the Power E-Trade platform?
What I use: claytrader.com/resources/
Big thanks!
You're welcome!
what broke you use
thanks
Here you go claytrader.com/resources/
hi. clay. im in UK , is it ok to follow your trading strategies , you using as USA techniques .im practice with trading212 platform, what about it is that good ?
You can use the general concepts in any market.
@@claytrader thanks
Amazing video. Love the explanation of things. Also it is frustrating to see that the trade could easily go against our thinking
Great point!
great video. what trading platform is this?
Here ya go: claytrader.com/resources/
Thanks Clay
And thank you for watching!
Every time ive tried to use the spy it never seems to correlate in my favour... lol ive resorted to only trading the ticker
You are doing something wrong then....
How do you make money when BA was going down? I’m confused (and very new). Is there another video that explains this? Thank you.
Watch this: claytrader.com/videos/how-do-you-make-money-shorting-a-stock-ill-try-to-explain/
Great content!
Cheers
A little nerve wracking but glad it worked out 😊
cheers
Great video!
Thanks!
What platform do u use.?
Here ya go: claytrader.com/resources/
Never played this will consider
Cheers
Pardon me, but SPY is more volatile than the majority of stocks on the market, including BA (which you mentioned as one example). So yes, in theory, if SPY is definitively going down or up, then it's a good overall indicator of how your current stock/ position will react, however, can you explain (maybe just for once) how you would know SPY's overall direction when it acts with extreme volatility? What indicators and analysis are you using to know SPY's overall direction in order to make your judgement in the first place...?
Your example is literally like saying "well if the transmission on your vehicle is having issues, then it's a good indicator you may not be able to put it in 2nd gear...." OK... But how did you determine you had a transmission issue in the first place?
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
Great question. You’re touching a major issue i have with technical analysis. Namely, how people tend to see the market (or a ticker, for example the spy) as a living entity. By using phrases “it” needs to “give you” “confirmation’ and stuff like that. A pattern chart is nothing more then a plotted change in supply and demand.
is there a SPY on crypto? I'm just starting out so please be kind
Not that I'm aware of.
Clay, do you trade Spy? If you do, pls can you do a vid of how you trade it. Thank you for your vids
I'll see what I can do, thanks for the suggestion
@@claytrader thanks Clay. Looking forward to your webinar
What broker did you use on this video
Here ya go claytrader.com/resources/
Do you only day trade Clay? Do you ever swing trade holding for a few days or weeks?
I do a bit of everything.
@@claytraderNice, Do you follow the "Options Market" for insight on options trading action?
@@craigmaverick if you're interested in "talking options/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
I can relate to the ball and chain. Just ask my wife! 😂🤣
Ouch!
I think in hindsight, waiting for the dip below the whole number of 195 for short position might have made sense.
Well, trading becomes very easy "in hindsight".
@@claytrader It’s just how I learn, by reviewing. Wasnt trying to be a jerk
@@MikeLikeThat not taken that way, just stating that "trading in hindsight" is very easy to do. I wish I had that luxury with real money lol!
Where did you get the giant chalkboard
Facebook marketplace!
I follow spy today and trade BA(Boing) and I made $2400 in one hrs and I was watching clay old video yesterday and follow his advice and trade BA great job Clay Thank you very much
Please tell me Which video was that and what was that advice ?
Nice work!
I mean this works but what if you're trading SPY itself, what can you base it off on.
Nothing. Trading the SPY doesn't give you an edge.
This was my question. I've been trading options on spy and doing decent, but I think it was luck. Is there any kind of delay to seeing spy moving down before an APPL or some other company starts to follow it down?
@@joshuagrammer8661 if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
What trading platform are you using ??
Here ya go: claytrader.com/resources/
BUT how do you know what direction is SPY going? If I know that SPY is selling off for sure, I would just directly short SPY.
By using technical analysis.
What indicator are you using? To check the candle clearly UP and Down???
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
A simple correlation to the markets. As they move as a whole. Easy to spot stocks that follow the pattern. Its bizarre but makes perfect sense. Why am I just realizing this basic idea?
Sometiems the most obvious things hide in plain sight lol
@@claytrader Had the 5 min spy up today while trading, patterns identical. Also, notice every thing is up since march 5th?
@@OrangutanTradeSalesmen if you're interested in "talking stocks/trading in general", you are more than welcomed to join my private community - claytrader.com/team/
Video idea - how to find resistance and support levels
I cover all of that stuff within my premium training series at claytrader.com
What's SPY I don't get it, what kind of reference is that?
It's a ticker.
Just bought 2 shares. Don’t know why I skipped past this. I’m already up in gains
Congrats!
learned
Great!
Thanks I dod
You're welcome.
My account is small so I only use vertical spreads.
Do what works for you!
what hes covering here in terms of idea is "RELATIVE STRENGTH/WEAKNESS" and no im not talking about that garbage RSI indicator, im talking about how REAL retail day traders that do this for a LIVING consistently for YEARS make their money. its always market first, RELATIVE strength (how much the underlying is rising compared to SPY) and RELATIVE weakness (how much the underlying is dropping compared to SPY). mastery of RW/RS (should take you two years roughly, dont trade with more than 1 share at a time til youre around 70%+ winrate) can lead to a successful, enjoyable career as a day trader. cheers and good luck, I can tell by the comments here that most of you are very very new, so please for the love of god do NOT trade with large amounts. If you get lucky and win you will create bad habits and most likely lose it all, if you lose it all you're done anyway. Just take it slowwwww, build that skillset of market analysis over the next few years (shit is gonna be crazy, its been NUTS since 2020, huge volatility which is great for selling options but i digress), and dont blow your load before youre fully committed and immersed.
Thanks for watching and taking the time to leave your thoughts!
The classic Chalk Board.
Old school!
Why 5 minute for SPY? Wouldn't 1 minute provide more feedback for turnarounds? You couldn't miss a turnaround if you're on 5 minute if you don't see it immediately, right?
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
@@claytrader lol. Ok, so now I understand you're joke.
Why not just trade options via buying puts and calls on SPY overall instead? Works great.
Because I find there are better ways.
What brokerage is this ?
Here ya go: claytrader.com/resources/
Can I use spy for us30 bias?
if you're interested in "talking stocks/trading in general", you are more than welcomed to join my private community - claytrader.com/team/
@@claytrader no ty
@@BillionaireDubaii you are a billionaire but can't afford $99? hmmmmm
@@claytrader and your so successful that you need 99$ for something I already have answers to? Hmmmm
@@BillionaireDubaii oh, so Elon Musk should just start giving everything away for free? I mean he has multiple billions... is this your claim?
Why don’t you day trade options?
I do!
❤
CHeers
Getting a bigger screen next week, placing the SPY in a little corner, thanks.
Good idea!
Love the way you explain sir
Thanks!
Why u selling the class clay
What do you mean?
I ended the week on green (:
Good job!
congrats!
why not use sp500 over spy?
same thing...
please get a white board...off the chalk sounds alone I wanted to change the video!!! But Great Content.
Thanks for watching, but I keeping the chalkboard. I love the "old school" feel...
Hi Clay, how much you think it's needed (in general) to make 250 to 500 bucks a day trading? Thank you for the great content and your insights 👊
Day Trading - swing trading?
focus on your learning and knowledge for now... the money will follow.
@@m.morininvestor9920per day in daytrading