This was the exact mentality that have plagued my trading.. every trader should learn to eviscerate this holding and hoping mindset.. Also learn to cut loss and move on to better counters that not only could recover your losses but potentially increase your trading account.. This is a good video, Clay.
I really like seeing the back and forth with you talking about the video and what you’re experienced in the moment of trading. It’s helpful when learning.
First off. Clay thank you. You have a unique way of explaining this stuff that clicks with me at least. I do like this style because its real life! Thanks again for the videos they have helped!
Clay, I want you to know that we don't just want to see how to operate or the best moments. We are interested in knowing the whole process and different trades if possible throughout a day. Thanks for everything.
Amazing video and really makes the market come to life and picture it. I think that you should put together video of losing trades and how to exit them and minimize profits but a few of them. Great work.
Clay I have been studying your videos here and there and I love the live trade videos. I have a full time job and am interested in trading to have a second income. I have little knowledge of what to look for in the stock market and find your videos very helpful. Hopefully I can be a decent trader in the next year
I really enjoy your videos and how well and simply you explain things for people who are just starting out. Wish I could understand the different types of charts and how to properly read them though 😂
Clay Sir, do you use stoploss? How do I see it? I really wish there were stoploss videos on youtube by 'YOU'. I don't really like others who keep 'touting' their courses. Also, in an old video you talked about placing an order (buy or sell) at a certain price and it's 'executed automatically' when the price hits that certain price. i guess limit and market orders something like that. then why do you click the sell button all the time by yourself shouldnt that happen automatically?
You nailed it, we incur opportunity cost anytime we're stalling in a trade. Breakout or bailout. Cut your losses quick and move on. I'm of the mind set that I take a trade because I expect it to work. If it doesn't I bail and look to re enter or find another quality trade. Thanks for the video clay.
@TravelerPat yes sir. i believe that is the correct mentality and now that its on your radar, you will only become more and more aware of opportunity cost. remember, you can always get back in the trade with a better entry if need be. cut your losses quick. re evaluate the scenario and move forward from there. i like this lesson from the art of war. never fight an opponent that behaves irrationally for they are completely unpredictable and therefore next to impossible to defeat for the very reason that you never know what they will do next. according to the 5 fundamental truths of the market outlined in Mark Douglas's trading in the zone , every moment in the market is unique, anything can happen, we dont need to know what will happen next to make money in the market, we define our edge that is statistically proven with wins vs losses and we bet on the probability that our edge will result in one thing happening over another. The moment our edge, our strategy, our trade goes rouge it becomes irrational and therefore the best course of action is to free our self from its irrational madness of behavior as quickly as possible. that way we may free our mind, time, energy, and equity to revisit another trade that is behaving in a more predictable, probable fashion. all great traders know this as well as the lost opportunity cost associated with holding not necessarily a loosing trade but just not the best trade. trade the best and bail on the rest.... cutting losers the moment they become unpredictable, at first sign of weakness, whether it be on the level 2 or time and sales, even before they hit your stop loss will save you infinite time, energy and money in the market. this is a skill i would highly recommend mastering. Dr. Alexander Elder also discusses this to a certain degree in his book trading to make a living. perhaps do some of the suggested reading if you haven't already. i promise it will only make you better. plus they are available in audiobook which i love because why not.... hopefully this helps in some way, i wish you the best, cheers and have a fantastic day!!!
@TravelerPat No problem!!! it funny, the market frequently rewards bad behavior so where as we look at a trade as perhaps giving it time to breathe and then boom it takes off in our direction we immediately associate holding and giving a trade time to breathe as a good thing cause why not? the market rewarded us the last time we did that. the truth is this is a terrible habit to develop and more often than not, according to the statistics this doesnt end well for us relative to creating a successful profitable trade. its fantastic that you are now aware and more importantly nipping it in the bud. im not saying that some trades dont need to breathe and dont need a moment to work, we know thats not always true, im just saying its a slippery slope as you discovered today. funny enough in life the longer we possess things the more value we place on them for one reason or another. this is also true in the psychology of trading. we think, hey ive held it this long, its still churning, it should work, therefore i should continue to hold on to it and because ive invested this much time, energy, thought so far, i deserve this trade to work... too funny. if im not mistaken i believe Clay Trader did an excellent job in his video on this. he was absolutely spot on the way he articulated a traders thoughts in this scenario. anyway, comment anytime, i love talking about this stuff. not only does it help others but also helps reinforce all that i know and experienced.... have a good one!
@TravelerPat too funny.... take it all in stride mate. the good the bad and the ugly. its all part of the journey. one day it all make sense and somehow someway i promise you will see the humor in it or maybe you'll just be on so many antidepressants that you wont know the difference anyway : ) pleasure chatting...
🤣🤣🤣True. Clay, remain solid don’t be tempted to chase views & likes, you’re one my favorite channels please clean up, I don’t want to go away, there are made channels demanding my attention.
Yes I would usually hold lost and cut my winnings. And something I don't take profit because I think I am leaving money on the table when I cut my winnings short
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/
Why aren’t you putting stop losses in? FRAN could have tanked quick and you wouldn’t be quick enough to get out selling manually. Am I missing something?
@@AngelPlayz25 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/
Jason Troiano sounds great but I don’t have a huge budget. I can afford the inner circle and a $1000 trading sum so I don’t know if I’ll make enough back from what I learn
too funny, i had this mentality when i started and it cost me approximately 25k in losses. i can only laugh about it now because it was a critical moment in my growth as a trader. eventually i got so sick of losing, i hate losing, i went back to the drawing board, back to the simulator, sorted my shit out for a few months and now i am the quality trader that i am because of the whole experience. in hind sight, im sure there was a less painful way to go about the process but for me and my mentality hakeem's approach seemed pretty reasonable at the time. i rationalized it every which way and it made perfect sense to me. i must trade real money to really learn. right? why not? in retrospect the losses, the pain, the failures, it was just what i needed to motivate me as previously mentioned, i hate losing and refused to except the fact that i couldnt do this day trading thing. we are all different with a common goal, becoming the best traders we can and if that means getting your assed kicked like i did at first so be it. but.... i dont think i would recommend it. Cheers everyone and good luck Hakeem. have a great day!
LoL.😅 I was trading a cheap stock today and I was waiting 20 minutes for a half cent improvement on a limit order with my finger on the trigger for a gain of $100.
![How I Overcome Self-Doubt as a Day Trader [Tips for Beginners]](http://i.ytimg.com/vi/QGvon5XE2iM/mqdefault.jpg)
This was the exact mentality that have plagued my trading.. every trader should learn to eviscerate this holding and hoping mindset..
Also learn to cut loss and move on to better counters that not only could recover your losses but potentially increase your trading account..
This is a good video, Clay.
Cheers
I really like seeing the back and forth with you talking about the video and what you’re experienced in the moment of trading. It’s helpful when learning.
I concur
thanks for feedback
First off. Clay thank you. You have a unique way of explaining this stuff that clicks with me at least. I do like this style because its real life! Thanks again for the videos they have helped!
Awesome, thank you!
Clay, I want you to know that we don't just want to see how to operate or the best moments. We are interested in knowing the whole process and different trades if possible throughout a day. Thanks for everything.
Noted!
I don’t mind watching through a slow move, I can always skip forward.. interesting to see how others handle these plays
Thanks for feedback
I hated feeling that way so I changed up my strategy.
@@gregbrewer752 do what works for you
Amazing video and really makes the market come to life and picture it. I think that you should put together video of losing trades and how to exit them and minimize profits but a few of them. Great work.
Thanks for suggestion! Those videos already all exist here claytrader.com/takecontrol
That’s exactly what I’m doing hold and wait. I should follow your advise. 👍🏻 nice video
Glad you learned!
These are the best videos because it's so real and it's nice to see how others handle and manage a trade
Glad you like them!
Thank you kindly ✍️
Welcome!
I'm a new follower love the channel great content.... 👍👍
Welcome aboard!
Great video, thank you!🏹
Glad you enjoyed it!
GREAT CONTENT. I LOOK FORWARD TO JOINING YOUR COURSE.
Awesome, thank you!
Clay I have been studying your videos here and there and I love the live trade videos. I have a full time job and am interested in trading to have a second income. I have little knowledge of what to look for in the stock market and find your videos very helpful. Hopefully I can be a decent trader in the next year
Cheers Austin! I hope you consider my program! claytrader.com/takecontrol/
I really enjoy your videos and how well and simply you explain things for people who are just starting out. Wish I could understand the different types of charts and how to properly read them though 😂
I teach all of that (and more) here claytrader.com/takecontrol/trading-freedom-pathway-how-it-works/
Only free channel that gives results. I have not seen a red day in a while.
Check out the live trade video I released today claytrader.com/videos/live-day-trading-accept-defeat-and-control-the-hole-day-trader-tips/
That's very true Clay, thanks for sharing...
You're very welcome
Good content, Clay. Thanks for sharing this.
My pleasure!
Love. Weekends are study days.
Cheers!
FANTASTIC CONTENT!! not sure how i got subjected to your channel, but thanks youtube algorithm!!
welcome to the channel!
Tank for Clay 🙌🏼
Cheers
Clay Sir, do you use stoploss? How do I see it? I really wish there were stoploss videos on youtube by 'YOU'. I don't really like others who keep 'touting' their courses.
Also, in an old video you talked about placing an order (buy or sell) at a certain price and it's 'executed automatically' when the price hits that certain price. i guess limit and market orders something like that. then why do you click the sell button all the time by yourself shouldnt that happen automatically?
I'm sorry capitalism offends you....
very informative videos...Love from India
Glad you like them!
You nailed it, we incur opportunity cost anytime we're stalling in a trade. Breakout or bailout. Cut your losses quick and move on. I'm of the mind set that I take a trade because I expect it to work. If it doesn't I bail and look to re enter or find another quality trade. Thanks for the video clay.
Cheers
@TravelerPat yes sir. i believe that is the correct mentality and now that its on your radar, you will only become more and more aware of opportunity cost. remember, you can always get back in the trade with a better entry if need be. cut your losses quick. re evaluate the scenario and move forward from there. i like this lesson from the art of war. never fight an opponent that behaves irrationally for they are completely unpredictable and therefore next to impossible to defeat for the very reason that you never know what they will do next. according to the 5 fundamental truths of the market outlined in Mark Douglas's trading in the zone , every moment in the market is unique, anything can happen, we dont need to know what will happen next to make money in the market, we define our edge that is statistically proven with wins vs losses and we bet on the probability that our edge will result in one thing happening over another. The moment our edge, our strategy, our trade goes rouge it becomes irrational and therefore the best course of action is to free our self from its irrational madness of behavior as quickly as possible. that way we may free our mind, time, energy, and equity to revisit another trade that is behaving in a more predictable, probable fashion. all great traders know this as well as the lost opportunity cost associated with holding not necessarily a loosing trade but just not the best trade. trade the best and bail on the rest.... cutting losers the moment they become unpredictable, at first sign of weakness, whether it be on the level 2 or time and sales, even before they hit your stop loss will save you infinite time, energy and money in the market. this is a skill i would highly recommend mastering. Dr. Alexander Elder also discusses this to a certain degree in his book trading to make a living. perhaps do some of the suggested reading if you haven't already. i promise it will only make you better. plus they are available in audiobook which i love because why not.... hopefully this helps in some way, i wish you the best, cheers and have a fantastic day!!!
@TravelerPat No problem!!! it funny, the market frequently rewards bad behavior so where as we look at a trade as perhaps giving it time to breathe and then boom it takes off in our direction we immediately associate holding and giving a trade time to breathe as a good thing cause why not? the market rewarded us the last time we did that. the truth is this is a terrible habit to develop and more often than not, according to the statistics this doesnt end well for us relative to creating a successful profitable trade. its fantastic that you are now aware and more importantly nipping it in the bud. im not saying that some trades dont need to breathe and dont need a moment to work, we know thats not always true, im just saying its a slippery slope as you discovered today. funny enough in life the longer we possess things the more value we place on them for one reason or another. this is also true in the psychology of trading. we think, hey ive held it this long, its still churning, it should work, therefore i should continue to hold on to it and because ive invested this much time, energy, thought so far, i deserve this trade to work... too funny. if im not mistaken i believe Clay Trader did an excellent job in his video on this. he was absolutely spot on the way he articulated a traders thoughts in this scenario. anyway, comment anytime, i love talking about this stuff. not only does it help others but also helps reinforce all that i know and experienced.... have a good one!
@TravelerPat took the thoughts right out of my head. now we know, great minds do think alike.... thanks for the kind words i appreciate it.
@TravelerPat too funny.... take it all in stride mate. the good the bad and the ugly. its all part of the journey. one day it all make sense and somehow someway i promise you will see the humor in it or maybe you'll just be on so many antidepressants that you wont know the difference anyway : ) pleasure chatting...
You've been on fire 🔥 with clickbait titles recently. 👏
🤣🤣🤣True. Clay, remain solid don’t be tempted to chase views & likes, you’re one my favorite channels please clean up, I don’t want to go away, there are made channels demanding my attention.
How was this clickbait? I literally talked about what I said in the title...
I appreciate the feedback, but I have no idea how this could be considered clickbait. It is the exact topic I cover...
@@claytrader Eh there's always a handful of haters.
@@devpatel1055 not sure if they're haters... just genuinely seeking "how" it could be considered clickbait lol
Awesome video. I made $13 today. Nothing crazy but still learning everyday I trade. Out of curiosity, what is your "goal" for each day?
This should help claytrader.com/videos/a-successful-traders-mindset-500-a-day-keeps-the-day-job-away/
Great lesson. Now I feel better when I hit the wrong button.
:-)
Yes I would usually hold lost and cut my winnings. And something I don't take profit because I think I am leaving money on the table when I cut my winnings short
It's challenging!
my hold and hope was GoPro several years ago. i wasn't day trading it. same principle though. get out and look for another opportunity!
Thanks for sharing
Great knowledge
Love you bro from India
By the way where are you from
I'm in USA.
10:39 LMAO Idk why but I watched that part in 0.25 playback speed. And it was pretty funny😂😂
:-)
Hi clay any insights for stocks to day trade on the tsx? I’ve been trading for couple months now thanks for any advice
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/
thanks!!
You're welcome!
As always....very good vifñdeo
Thanks again!
Why aren’t you putting stop losses in? FRAN could have tanked quick and you wouldn’t be quick enough to get out selling manually. Am I missing something?
You are missing quite a lot in all actuality....
Care to elaborate? The idea is to limit your loss if it doesn’t go your way and there is nothing doing that for you here that I can see.
@@AngelPlayz25 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/
Hello pls do you sell signals and how much is it if you do ?
My trading community is here claytrader.com/team/
Is there any option for the inner circle for like a trial month/week to see if I want to commit to $100.
There is not. I've been in the inner circle for 3 days and I've already paid for the three months based on his alerts. Its worth it.
Jason Troiano sounds great but I don’t have a huge budget. I can afford the inner circle and a $1000 trading sum so I don’t know if I’ll make enough back from what I learn
You do not need to pay him money to learn the stock market...
CardHandlers I know. I’ve learned what I want but now I need a mentor
No... I mean it's $99 for 3 months... (breaks down to $8.25 per week)... I'm more than confident you'll get, at least, $8.25 per week of value...
i believe you have to have real life trades in order to learn....
paper trading doesnt work for me....
run then walk....
Yes, considering psychological learning curve. But the most important thing is to have an edge. Confidence comes only with edge.
kind of... but most people just use that as an excuse to "trade with real money"
@@ryanrobinson8682 thanks for the thoughts
too funny, i had this mentality when i started and it cost me approximately 25k in losses. i can only laugh about it now because it was a critical moment in my growth as a trader. eventually i got so sick of losing, i hate losing, i went back to the drawing board, back to the simulator, sorted my shit out for a few months and now i am the quality trader that i am because of the whole experience. in hind sight, im sure there was a less painful way to go about the process but for me and my mentality hakeem's approach seemed pretty reasonable at the time. i rationalized it every which way and it made perfect sense to me. i must trade real money to really learn. right? why not? in retrospect the losses, the pain, the failures, it was just what i needed to motivate me as previously mentioned, i hate losing and refused to except the fact that i couldnt do this day trading thing. we are all different with a common goal, becoming the best traders we can and if that means getting your assed kicked like i did at first so be it. but.... i dont think i would recommend it. Cheers everyone and good luck Hakeem. have a great day!
I just stay away from premarket because of the choppines
Do what you feel is best.
LoL.😅 I was trading a cheap stock today and I was waiting 20 minutes for a half cent improvement on a limit order with my finger on the trigger for a gain of $100.
Cheers!
Clay just stop calling yourself a moron. It's called being human. Mistakes happen.
As soon as I think I'm not a moron, that's when the market bites you by using overconfidence against you
@@claytrader Hmm. You've got a point there.
@@devpatel1055 cheers
Nice T-shirt!
Thanks!