5 Rules For Selling Losers Faster!
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Warrior Trading // Ross Cameron // Day Trade Warrior
This is so true. When I first started I would hold my losers past $1000 or $2000 and more not knowing how to just cut it off. I'm much better at it now.
I HAVE THE SAME PROBLEM UNTIL TODAY IM STRAGGLING WITH
A lot of what you say is repeated, but every single time, it seems to come at the precise moment I need to hear it. This video perfectly describes my situation the past 2 weeks. Appreciate taking the time to make these videos.
Right. I just lost so much unrealized gains this morning. 😅😅😅
I appreciate the repetition its so easy to forget everything the second youre live in the market haha
You and me both!
Came here to say this. Every time I know I’ve done something wrong, always seems to be a recap highlighting exactly what I’ve done 😂😂
@@crystalsantos5441 same ❤
I held small winners until they became big losers because in a small cash account I only get one chance. So frustrating.
@@hellojosef set a specific goal for yourself, then stick to it😎
Goo with a proper firm and trade by a small rule set and become better then trade live . PS could be a long journey
Put in a stop loss so it automatically sells
Same here man. Still, getting stopped out for a small loss is way better than blowing up your entire cash account in a few trades.
That experience will be what makes you a great trader in the future. You just have to get better at managing your risk.
That chart you drew of 5 legs down...thats me over last 3 months. $4400 invested, stair stepped down to $1500. That was my rock bottom 2 weeks ago. I made the adjustments you talk about here. I've set my daily max loss to $50 (vs no max loss and I could lose $400 by bag holding). Now for 2 straight weeks I've been green (7 green days 3 red days) and I've recovered $300 so far and am now up to $1800. It'll be a long road to break even, but its doable if I keep this tight max loss.
Same here my guy I started with 640 went up to 707 then went on a losing streak all the way down to 200$ then went back up to 540$ then went on to another losing streak bringing me right back down to 200$
I’m ending the week at 260 tho so I’m on a 2 day winning streak right now
Momentum, volume, shares, news, candle pattern etc determines how much you risk on the trade it sounds like your risking the same amount every trade.
How are you managing the tight losses ?! By setting stop loss ?
@@farahjawad696 if hes trading pre-market then he cant set stop losses. What he CAN do though, in place of the stop-loss, is decrease position sizing.
That way big price-swings are not going to break straight through his daily max loss
Great video. Taking a loss is so difficult. This is the hardest part for me.
Dear Ross, you show up every day saying what I needed to hear prior to taking my trades for the day, I feel like hindsight is 2020 but lesson learned. Thank you!
"experience is something you get right after you needed it." -one of my favorite quotes
Prob the best trading teacher out there
❤
Hands down only person on TH-cam who post learning content everyday and shows realistic and real losses and gains
I confirme!! It's been a while I started watching Ross and he iS the king
I’ll second that!
Ross, I'm really looking forward to doing your training program. Just watching your vidz over and over and taking notes has already smoothened out my day trading. Started looking at where my winners were and my loses. Changed my entry points, changed my approach to loses as well as wins. My daily goal has been $500, then walk away for the day. In the past I would have a good morning and then go for more but I didn't understand how the volatility/volume changes as the morning moves along and that what I was doing at the open wasn't working intra day. I've now been getting results like $800 one morning, $1,300 another etc my lowest this week was $384 and I still walked away. Letting go of FOMO was huuuuuge for me! Now the goal is do the same thing every morning, take notes and tweak my strategy. Can't wait to actually watch you trade in the morning session!
Thank you my friend 🤟
You are spot on with the psychology inherent in bailing too early on the way up, lingering way too long on the way down. For myself, I've noticed intense anxiety on the way up, especially if the stock is rising in a hurry. I've had to do some serious deep breathing to remain emotionally present, and sit with my anxiety, rather than react to it, and bail out too soon. Getting better, and it's been hard work. On the way down, I've learned the hard way that hope is not a strategy. It's amazing how hope dulls our senses, and lessens our sense of urgency to bail out when the stock is falling. Like you said, I've changed the rules way too many times when a stock drops - transforming from a day-trader to a swing-trader because of my rationalizing the rule change. I'm no longer doing that, thank God. Learning how to do this is hard work, however. You are gifted in what you do, and how you teach/coach others. I often find myself asking if am I channeling my inner "Ross" as part of my trading strategy, lol. I've been comfortably green 7 out of the past 8 days. Thank you very much!
Hope is not a strategy!!! Best advice. Thank you.
@@Manuel-lo4du😎😎
Ah man, turning myself into a swing trader just to facilitate my hope on a falling loss has been a big problem for me !! Gotta get out quick and small ! And live to fight another trade with capital intact
Great phrase, I need to tell myself that often@@Manuel-lo4du
Thanks!
Best teacher ever❤
Thanks to your coaching on here I’m still turning around my losses. I did well trading LIFW and WCT this morning.
I went back and watched this today cause I gave back my whole week. The best week I’ve had so far. Great information and reminders
"Or one of those goats that faint." 🐐 I found that hilarious Ross. 🤣
Dude, you are fabulous, on point 👌. Thanks a ton
Thanks again, Ross! One of your best videos ever! Perfect timing!
you taught this class in the middle of your trading session and i can’t stress enough what an awesome teacher and coach you are. one of the best investments i’ve made in my life is signing up for your course. i’m on the road to profitability one step at a time! thanks! loved the class!!
Love this guy!!!!! Thanks, Ross. In very real terms cutting losses early is a significant part of any trader's edge.
Excellent from multiple perspectives. Very helpful in covering every aspect of trading.
Ive been watching about 4 weeks. Just started. 5744 in 3 days this week from one trade per day
Thank you, Ross.
This is a master class. I can watch over and over with taking notes. I am grateful to you.
Glad it was helpful!
This video is so helpful. Definitely going to rewatch and taking notes. Thank you!
This is exactly what I needed today! Traded B quality setups before we had JTAI, finished red but I'm happy I didn't spiral, and walked away. Also keeping a journal entry for each trading day helps with building muscle memory so you wont repeat your mistakes. Green days makes me confident but a red day with proper risk management gives me hope for the future :)
Great Great video ross. We need to watch this video every day 30 min before we start trading. Thanks man
One of your best videos I Def needed to hear this ❤❤❤❤
I so needed this today. Thank you Ross as always. Goals!!!!
Thank you for teaching every day!!!❤🎉
I have to listen to this now every time I dont respect max loss in a sim. 😂😅😢
Im listening again...wish me luck on folowing the rules this week! 💜
This is me today, so amateur as a newbie. Thanks for all the teaching, I learnt a lot from your youtube channel
just hits home every video, thanks Ross
I needed this one! Thanks! I hold way too long on losers and way too long on winners, which then turn into losers. I need to train my brain to remember that there is near-zero consequence to clicking that sell button right away!
I was doing so good using your strategies and your scanner! And then I went to trade futures and on the brink of blowing my account!
So GOOD!!!! Thank you Ross! 🙏
Ross thank you for this valuable video, your an amazing teacher.
Ross - would you do an session on how you journal and use your trade log software for analysis? Eg - trade tags, notes, key metrics you find meaningful…
thankyou , this was so like me ,and you opened my eyes . go out when you lose.!!!!!
This is so valuable! Thank you for talking P/L scaling and moving stop loss this was exactly what I was looking for from you thank you!!
Would love for you to make a video on patterns you often trade and avoid, head and shoulders, dead bounce, etc etc
Hey Ross, thank you for everything you are teaching us,I don't know is there anything else that is left to show us?
Struggling to become profitable this past year. Every issue you bring in your videos hits home so I know you've been through the same problems, like many others.
This gives me the encouragement that with becoming more disciplined, I could correct those pitfalls and become profitable. It's all a matter of changing my habits.
Thank you Ross ❤
Ross excellent you do this training every day. Keeping all info of trading
Thanks
Excellent advice again 👍👍
Sheesh - it is like you watched me trade this morning from inside my brain. I appreciate your content.
I’ve been waiting for (needing) this one! Many thanks!
Happy to help!
Ross the man Cameron. Love when you get this transparent!
Thank you for this video, Ross! I can honestly relate to this. 😊
Ross, may I know what broker you’re using on your trade? I hope you’ll see my question or anyone please. Thank you.
Suuuuuuch a great video lesson. Thank you Ross. Legend!
I think you are a mind reader you post videos that speak directly to what I do wrong.... I appreciate you and your videos you made me a GREAT trader but I'm still working out the kinks....up 40k for 2 weeks thanks to you!!!
Today the DEX in By-bit is lagging!!
I just done video to show that
When you are exchanging it's giving you like 9x>
These videos are super helpful for me to actually realise how much of a psychologically demanding profession trading is. I can figure out a decent profitable strategies that can win in all sorts of market conditions, however, I wasn't at all prepared to deal with the emotional backlash you get from taking losses. Sizing down to super small sizes and sizing up bit by bit (from 2000$ to 50$, 100$ etc. after losing about 600$ from the initial) is a great way to get comfortable with certain losses, expecting them and handling them with grace. I also think it helps tremendously to condition yourself in other ways of life, where it can come out as a rejection or whatever else. Many thanks for your insights!
This was me to nearly a T this morning on JTAI. Initially green but reentered as it kept pulling back then held way too long past my daily max loss by 4x. Thank you for posting this, Ross. I need to continue to work on my rules.
Amazing tutorials Ross Cameron , outstanding trading
You are a great teacher. Thank you, thank you.
I felt like you made this video just for me...time to size down. Thanks for all you do, Ross🤜🤛
Made 75 today, after a loss yesterday, making another recovery, this time it’ll be better than the last!
Great teacher
thank you for your knowledge
Thank you for showing your keyboard Ross! I officially can't start one of your videos without a notebook to write things down lol. See you soon on Warrior Pro!
@5:35 you described exactly what i do :( i have such a hard time cutting losses for some reason. im so glad youve touched on this point. thank you!
Hey ross! Im on day 2 of trading in a simulator and let me tell you there is alot of potential! I am also reading your book "how to day trade". I Love watching your recaps and listening to someone who has been doing this for years explain his thought process and strategy! You are so committed to your craft! Its a blessing to have you sharing your wisdom! Love the content!
Which simulator are you using?
@@theradioiscalling I use a $500 webull cash account and trade 1 share when i want to do "simulated trading" i then run the math to see what the trade "would have been with full size" once i am reviewing my trades for the day.
I feel like this video was directed at everything I'd been feeling lately. It's literally just fear. Scared money doesn't make money. Thanks for all the advice Ross! I've never been more excited to trade since your response. I know I'll get humbled but I simply don't care. That's the secret.
You are the best ross thank you for changing my life.
Watching 1 new video everyday until I can be/$$$$ your class student daily!!! Thank you Thank you
Most definitely !!! "Trading LESS can equal MORE" ... When I first started I was trading 30+ trades per day and loosing ... Now on average I'm trading less than 5 a day and winning ... quality, discipline, patience, strategy
Ross, it looks like you read my mind today. Exactly what I have been looking for this week. When does the sale end by the way?
Great video and can really relate to your advice.
Quote of the video: holding it only made it bigger.
Stella mate 😊
Exactly! You are absolutely right. Don't be stingy; take your daily profit. But we hope it goes up and watching it goes down.
Ross, also, If I have a limited cash account fund available and I exit, I do cut my loses, but my next trade will be only tomorrow. It's another reason we hold and hope.
Wow really needed this today. Total Emotional hijack after doing well this morning. Greed…no more trading afternoons after my work and being fatigued. I did many of the things you mentioned…things I’m usually very disciplined at. I held too long even telling myself to sell. Stubborn too. I need to learn to loose.
*lose
Hey Ross do a Q&A to see how many traders are left from the 2020 craze! With your students and such
My friend and I started to do this by trading only $10 in each trade we aim for at least 10-15 trades we have seen an improvement for sure we're able to actually read charts and make pretty good predictions on where its going and if its going to be able to break through its previous resistance.
I went Red on JTAI and for some reason instead of hitting sale i fell into that mindset of maybe it will go up. After reviewing my notes and thinking of my day it was due to external reasons so I shouldn't have traded today at all. My mind was not focused like yesterday.
ok sir i would start doing your suggest after next week. Great stop-loss trader!
This last week I been trading out of a simulator with everything I learned from you..... It's a 10,000 account and I've won 4 out 5 days this week. With a average of 1500 a day. I think I'm ready to start with real money ty Ross
After 2 days of successful trading (up 5,000) I was not prepared to lose. Did exactly what Ross warned against. I looked at the news and decided to hold. Went down over 20K. Luckily it’s recovered mostly (after nearly a year) and I’m nearing the point of selling to continue day trading. Lesson learned. I will respect stop losses moving forward.
thanks Russ
Thank you for being such a great teacher and for all your hard work and the time it takes to create great co tent for us. Thank you also for the time and cost it took to bring your Daytrade Dash tools to the market for us. Truly invaluable for everything.... Jake
3.5 times my daily goal today with several trades ... $CRNC, $QMCO, $NVTS, $QBTS, and $VSAT ... small Average base hits at about 3/4ths my daily goal ....Thanks Ross !!
Hey! What is your strategy? It looks like you are trading a lot of higher float stocks. I'm curious. Thanks.
@@jeez5890 - I use TOS platform and I start with the top 6 stocks that show up on my scanner. My strategy is essentially "dip scalp trading" paying close attention to the MACD... in fact getting down into the weeds as far as what the MACD is doing. I can't go into too much detail or my post will get removed. But MUCH of what I am doing is what Ross teaches. I have just applied a little of my own influence after trading for 2 years ( more than 1 year in the simulator)
Dude its like your in our heads this is exactly what I did last week no wonder you are so popular on you tube lol you know the beginner trader inside and out like the palm of our hands
On my 5th book,Happiness Advantage....rules suck,till they dont....thanks Ross
Thanks Ross!!!!
I'm surprised you didn't trade QMCO or XCUR. I got good returns on that. They both met all the criteria you talk about.
Thank you 🙏
Thank you Ross for the video. I joined you live, so I was listening the class. I did not follow your recomendations. BIG MISTAKE
In simulator Day 68 of trading.
WORST DAY EVER after yesterdays WORST DAY EVER.
I keep Holding on to losser way longer. Then overtrade to try to hit a HR but not to be.
Man, I think its no trades for me on Monday. Just see I learn to wait y sell fast.
Day 10 of the 2 week trial. The scanners, 10s chart and news really helps... and Ross live trading!
SELL LOSERS FASTTTT MAX 0.20 CENTS
BE PATIENCE
WAIT FOR NEWS ON MOVING STOCKS
Keep practicing
Please make a video about: what is an absolutely “A” quality set up for beginners!!
Hey I trade live and provide this content every day! you can check it out on the 2 week trial it includes Live stream trading with me, scanner alerts, member chatroom, news alerts and customizable charting as well as some chapters of the education in the warrior pro education portal www.warriortrading.com/pro-preview-trial/
Risk management is king. Have an exit plan. That’s what I learnt recently. I didn’t have an exit plan and dunno when to exit a trade. Ended up losing so much more. FOMO. Having that discipline is such a skill to master. Still working on it but getting better. It’s so hard to see a red day. And so many time there were days when I took a small win and the price kept going up. I’d just kick myself and pull my hair. wtf.
Wow, your key board is quite dusty. Sori, it’s just me, I am a clean freak.
Nice way to finish your Friday Ross and happy weekend to everyone hit my daily goal but not happy with myself broke a few rules I know the market rewards you for breaking rules until it decides to destroy you and I need to be more disciplined so that doesn’t happen JTAI bought at $9.00on the dip and big mistake added at $8.75 and $8.50 went down to $8.00 and then broke another rule and didn’t sell I got a lucky bounce to $9.40 and sold but not good trades made money but I did everything Ross pointed out was a bad thing to do
37:42 “Everyone has a plan until they get punched in the face” - Mike Tyson
coach you are kill....ing it!!! congrats. my account is suspended for good faith violation but keeping hope alive.
Ross's information and insight is just Golden. When I first started trading, this is exactly where I was at - larger losers than winners.
Traded only PDYN today. Only when the MACD was open and when it was above VWAP. It psyched me out a couple times around $3.00 and I cut losers too soon. But I jumped back in and managed to have a small green day. Once the stock dipped under VWAP and couldn't go back over it and the MACD closed I was done.
Is VWAP the one curve with the three numbers (x, x, x)?
Hey Ross I appreciate all the info youve provided. You've helped me produce my first 4 figure day trading day, took all of a minute lol, but often you talk about a stock jumping 10 cents immediately after entering, I am assuming that is above $1 mark, would jumping a full 1 cent after entering apply to entities under $1 or would that divide different?
Thank you Cameron
I’m a long term investor but I love watching your content. I’d be lying if I said I wasn’t tempted to try day trading……
You should make your next video all about exit indicators
20 & 200 widing going to go down, i think u have 20ma,200 ma on chart, i believe?.
Love all the info u give.
I will start small.
Bro ross i had a terrible red day ..I stuck with vrpx pretty much off xcur fomo..anyway ..I just watched ur 275 k loss red day and ur ass made me cry..but thank u man..resilience. I'm on month 4 and I jumped right in so I'm coming off a 10k draw down..and the only way is to dig ur heels in..and put it behind us
Bullish forever
Love each other
Never stop learning
Another big reason why it's hard to sell a losing position in a smaller account is because if you sell that losing trade, you're done for the day and have to sit on the sidelines. And I've noticed some of those pre-market losers that are only down a bit seem to bounce back right at opening of the bell.
Exactly.
Same thing happened to me i lost 10 percent of my portfolio and was done for the day i hit my max loss
Funny, when you said . . “ maybe someone is holding right now. . .” I responded: “Me!”
Today I almost fall into a big lost trying to jump on to the high volume and percent stock pre market… but the move seems different and because of the Friday effect, I decided to buy small shares to test if I can sell it for a simple $20 gain… but ended up caught by the slow drop, I kept double down more every .20… something isnt right! No exit chance for gain. So I admit lost and pull all out with -$100. Overall i was able to win $600 with other stocks in play. Thanks for your strategy and for warning not to fall into the spiral! I have 5 consecutive earning this week $2.4k thanks to you!
Ross CHANGED my L I F E ! 😎
Damn Ross you been killing it lately, Congrats bro
Ross, it would be super helpful if you did a video on proper expectations for stocks based on their price. For example, if a trader has a defined risk per trade but that may be not applicable to the stock they're trading. If I'm willing to risk 0.20 a trade but the price may not have the ability to climb that much, I'll find myself routinely with an imbalance on winners to losers. Especially when trading from a cash account where my number of times to trade and purchasing power may be limited. A $2 stock vs a $10 stock obviously don't move the same. Because the only thing we can control is our risk in the beginning of a trade, it makes it tough to hold long enough to get a consistent 1:1, 2:1 or better return.
I can’t speak for everyone but my goal is 10%, and depending on the strength holding for a rise higher or cashing out asap. So a 1$ stock i look for 10¢, 2$ -20¢, 3$ -30¢ etcetera. 10% is more than you would get from any savings account over a year. You’re getting roughly 2 years of savings interest in like 10 seconds to 5 minutes. This isn’t gospel though. If the price doesn’t reach your target and you see an exit indicator ie: a wall of sellers go ahead and cash out. When in doubt pull out, just like sex
should be able to get $.10-$.20 real quick trading stocks that are $2-10, if they arent moving fast enough to get that in a minute or two its probably not moving quick enough to want to stay in it. Your risk should be based on how the stock is moving not the other way around. You dont say "im willing to risk $.20" You say "This stock has a good chance of moving up $.20-$.40 in the next leg up so that allows me to risk $.20" If it doesnt look like it can move 20-40 you shouldnt have a risk of $.20, maybe 10 max if you dont have the confidence in it.
Thanks Ross! I have the tendency to hold onto both winners and losers too long. The most frustrating for me is when I have, what I call, a half winner that doesn’t quite hit my profit target but also isn’t showing any clear signs of reversal (like MACD or volume) and then elevators down to my stop loss. Any advice for that type of movement?