[LIVE] Day Trading | -$2,000. Ouch! (how to NOT day trade)
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- เผยแพร่เมื่อ 10 พ.ค. 2021
- I love day trading and making money from the stock market. In my opinion, it is one of the most freeing jobs and/or side hustles you could choose to pursue. With that being said, there are no guarantees you will make money every day. You can be super consistent and have a a great day trading strategy; however, the markets offer no guarantees so at times you will be facing unfavorable situations. What do I mean? Well, as you will see in the video of my personal day trading stock results, the morning did not start off very well. So much so that I found myself in a $2,000 hole. I did decide to make one more trade. Was this a good or bad idea? That's a pretty complicated question and I decide to talk openly about it on the video as I believe it offers up some fantastic learning lessons and gives insights into the human mind and the "voices" we will all face as traders.
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Seriously, this is one of your best videos from a learning perspective. Thanks for being so open!
Thanks for the feedback!
Completely agree!
Your honesty is why I've watched you for 4 years...keep doing all that you do brother! Your channel is spot on for dealing with trader mentality. Thank you!
Thanks!
Appreciate the video! I definitely like hearing some of the more self-reflective stuff as you wrap up.
Glad you enjoyed it!
i love your video man. keep doing what you do, love to see the risk management, and reflection on your though process
Thanks! Will do!
Super props to you Clay! Love what you do on showing your positive and negative trades. All the best man! Happy trading
Same to you!
Heck yeah man, keep making the videos just like they are. I like comparing my thoughts on the price action to yours and seeing how it turns out
Thanks! Will do!
Thank's for uploading this!
Cheers
Seeing the last trade made me sweat cause I'm very hesitant to trade after being so deep in a hole, but great lesson in that even though it was a last green trade, may not have been the best trade to take!
Cheers!
This is the first video I watched from you and you got me to subscribe to your channel. Tks for keeping it real!
Wow. Thanks!
Always appreciate the videos Clay!!! We were feeling same a you yesterday 🙂
Thanks for watching!
This is such great insight, love the rule you explained
Glad it was helpful!
𝙼𝚊𝚜𝚜𝚊𝚐𝚎 𝙾𝚕𝚒𝚟𝚎𝚛 𝙱𝚘𝚘𝚝𝚑 𝙸𝚏 𝚢𝚘𝚞 𝚊𝚛𝚎 𝚎𝚡𝚙𝚎𝚛𝚒𝚎𝚗𝚌𝚒𝚗𝚐 𝚍𝚒𝚏𝚏𝚒𝚌𝚞𝚕𝚝𝚒𝚎𝚜 𝚒𝚗 𝚝𝚛𝚊𝚍 𝚒𝚗𝚐.
+𝟷 (𝟹 𝟶 𝟿) 𝟺 𝟺 𝟶 - 𝟸 𝟽 𝟾 𝟹 [𝚆 𝙷 𝙰 𝚃 𝚂 𝙰 𝙿 𝙿]
𝙷𝚒𝚐𝚑𝚕𝚢 𝚛𝚎𝚌𝚘𝚖𝚖𝚎𝚗𝚍𝚎𝚍 𝚊𝚗𝚍 𝚛𝚎𝚕 𝚒𝚊𝚋𝚕𝚎
Love these videos. So much knowledge
Glad you like them!
I appreciate your time and being human. I will keep watching. Thanks again man
Awesome, thank you!
Love this - I am learning and realizing the emotional side is heavier than I expected.
Glad they're helping!
You are one of the very few traders that actually posts real live trades and monthly P&L, regardless of the results. This goes to show how hard day trading really is.
I appreciate that.
Keep doing what you do Clay!
Thanks, will do!
keep rolling Clay , this is much more educational than anything I saw
Cheers!
Great stuff Clay. As always. Appreciate you sharing.
My pleasure
this is great learning lot from your video Rob
Thanks!
Love when you do this
Thanks for watching!
I find myself trying the same thing. I appreciate you posting this.
Cheers Jim!
Keep doing them clay pls your reaction to the trade is genuine so good luck for the next win. Excellent.
Thanks! Will do!
Appreciate the realism of winning vs losing trade Thank You.
Cheers
You talking at the end and doing a recap like you did in this video is honestly amazing. It gives us an idea on what goes into your head and it shows that your actually human and not a robot trader.
Thanks for the feedback!
I like your live trade rants. They are informative
Thanks for feedback!
Old video to comment on but i just had to say the best part of these vids to me is your dialogue with yourself especially the "self arguements" I do the same thing it helps remind me not to break my own rules because at the the day we are imperfect creatures. Anyways great vid man!
Thanks for the feedback!
I like the videos and I like to hear the rants - it helps me keep it real too. I broke my rules today too and got away with it and that is not a good thing.
Thanks for watching!
Very good information! 👍 the post trade data, imo was more helpful than the trades themselves. KUDOS for being transparent!
Glad it was helpful!
Awesome video Clay!
Thanks!
Lots of lessons to learn from this.
Think so?
Appreciate the transparency it’s a lot harder dealing with the red days then the green
Sure is!
Thanks dude! I appreciate your openness and honesty. Rules are there for a reason. I would be way ahead if I followed my rules. It is always good to "pressure test" any rule.
Well said!
Love these videos 🚀
Glad you like them!
The psychology piece of trading (especially as it relates to risk management) is IMO the difference between success and failure... Thank you for being raw and honest
Well said!
Lol. “Ah crap the trolls are going to be up on this one.” That’s funny. But that was a perfect trade on btx.
Cheers!
Good video, thank you!
Glad you liked it!
Cheers for the vid Clay
Thanks!
Awesome video, Clay. Please keep doing your post-trade review.
Thanks! Will do!
Keep it up Clay
Cheers
"The voice" gets me every time. Last week I had a winning trade but felt it wasn't enough. Jumped back in and it put me in the hole for the day. Now I try and force myself to get up and look out the window after every trade. Keyword, try. Good stuff Clay.
We've all been there!
Thank for Sharing
And thanks for watching!
Excellent comeback Clay....Boss Stuff :thumbs up:
Thanks!
damn that learning curve ")
It happens!
What are your thoughts on Vuzi? It's been dropping hard.
if you're interested in "talking stocks/trading in general", you are more than welcomed to join my private community - claytrader.com/team/
Yes, I do like about hearing more about the trades.. 👍🏻
Thanks!
This DUDE is the TRUTH..!
Thank you CLAY .!
KEEP GOING ..!
📈💰💰📊💰💰📈
Cheers
I appreciate these videos because a lot videos just show the big winning trades, not the reality of trading!
Thanks for that!
Nice comeback on btx. Thanks for your transparency on falling victim to the psychology of trading...especially when you bare your soul with the world
Thanks for watching!
Thanks for sharing. 🤙🏾
My pleasure!!
Wow. This is a really insightful trading session. This speaks volumes (literally! xD).
Thanks for watching!
This is literally the best trading video I've ever seen, because you explain a lot of mental processes that you do when you trade. And I love the fact that despite you were right with the 2k profit setup, you were right also about the fact that you have a rule and you shouldn't break it. But at this point, you just make me feel human... because guess what? I do the same mistakes, and sometimes I stop and say "wtf did I just do? It wasn't supposed to be like this". The real problem with trading isn't the mind, the intellect, the strategy or whatever you want to call it. It's always and it'll always be the emotions you feel about what you're doing.
Thanks for watching and commenting! Glad we can relate!
Out of curiosity have you guys traded microequities before? sorta curious about it but usa based so lol
Yes!
Hey I wanted to ask...your order type is set to LIMIT and you had a price of $699 typed in and when you clicked sell it filled you at 699.12.... Is it still a limit order? Why did it fill you 12 cents higher than the price you had set it at?
Limit is just the lowest amount I'm willing to get filled for.
Clay your this video killed it, honestly loved how you try to tell its not worth the risk to lose more staying by the rules will 99% percent make you a great trader
Thanks for watching!
What 2 MA are you using that are above the VWAP?
50 and 200
Clay you have a 2 min chart? do you have a video on why you like it 2 min? and Is the 3 bad trade rule video out yet I wanna see you explain it.
if you're interested in "talking stocks/trading in general", you are more than welcomed to join my private community - claytrader.com/team/
Hi Clay, thanks for the informative video! Can you perhaps give us more insight as to why you view certain price levels as support or resistance, or your rationale for going short on a stock? So we viewers can understand your perspective better. Thanks!
Thanks for suggestion! Those videos already all exist here claytrader.com/takecontrol
clay we all have days like this but man your adding a huge position after huge loss, i like it
Nah. Was not good.
Love all your trading videos. You told me a while back I would get better and I am. Thanks for giving me encouragement when I needed it most. I will be joining your community soon. !!!
Why "soon"?
@@claytrader Well, I am in another community that I really enjoy, so in order for me to join yours I need to be able to be a full time trader. Thats going to require me quitting my full time job that I despise but it pays the bills. I need to build a little more confidence and consistency before I put my family at financial risk. Again, love your trade videos and your trading style, I am striving to be like you. Keep it up brother!
@@sheppard19851 that's totally false... the vast majority of members are NOT "full time" traders. Out of curiosity, what gave you that impression?
@@claytrader I didn't mean that. What I mean is in order for ME to be in two communities I need to be a full time trader. Thats just what makes sense in my head.. I have a hard enough time keeping up with one community let alone two. You get what I'm saying?
@@sheppard19851 roger that
Like your vids. On the $TSLA trade they ran the stop hunt quickly back to the high at numbers, stopping out the first mouse who got short off the open via the pin bar. They were never letting the Hi Bull back into the market from prior day close.
Who is "they"?
Keep it up, thank you
Thank you, I will
Huge fan of these videos as a rookie day trader.
Thanks for watching!
We appreciate you
Cheers
Love these Real videos
Thanks!
Do most big day traders not use stop loss? When i am in the profit i use a stop loss most times to lock in a set amount of profit
I use a stop loss.
“Looking for this to get moving to the downside” meanwhile 3 fat red candles were right there on the screen! Lolol love you clay your a great content creator and trader this one is just funny to me though.
I love armchair quarterbacks too :-)
What date was this last week? BTX was parabolic then
The dates are on the screen. I don't remember.
You've got good discipline!
Sometimes!
woop woop yes we enjoy the videos man
Cheers
Thank you my brother , sometimes.happen to me. I get a little anger and start overtrading to recover my losses my I learn to walk away , damnn this not easy , but its worthy . Thank you I enjoy your videos my bro, you help psychology
Keep it up!
A masterpiece in how to cut your winners and hold your losers!
A masterpiece in trolling lol
@ClayTrader Do you think that your callouts would work for buying Put options.
Yup. it's all just charts at the end of the day.
@@claytrader thats true so i guess we would be buying all puts with your callouts lol. i guess the best part about that is you wont need a margin account if you wanted to do some pseudo shorting.
@@jms5340 there are plenty of long sided alerts also
@@claytrader o ok lol i watch all your live trading vids and you always go short so i just assumed you dont really go long.
@@jms5340 i do go long, just not as much
What do you use for charting ?
Here ya go: claytrader.com/resources/
I think its important to show that you dont always win . you do learn a lesson none the less but all the other trading tubers only show the wins and thats just not real great vid bro ....
Thanks!
I like to hear your rules and what makes you profitable. I liked the rant/lesson, though a little shorter?
In heat of the moment, can't really control that.
I don't understand how you can make money buying high and selling low. does this not lose you money? Is there something I am missing.
Watch this: claytrader.com/videos/how-do-you-make-money-shorting-a-stock-ill-try-to-explain/
I like the raw honesty on wins and losses. I feel you on the loss on TSLA. I have a similar 3 strikes rule. If I lose (other than tiny losses) 3 times in a day I'm out. I also have a rule to take a 30 minute walk after a big loss. TSLA is almost impossible for me to trade though because I feel that its intrinsic value lies somewhere closer to zero long-term than 700, so I would just end up shorting it endlessly and constantly losing. Knowing what battles to face is sometimes half the battle. Nice recovery though.
Thanks for the thoughts!
Perhaps the winning trade lifeline should of waited for confirmation to minimize risk. Great video thanks for honesty. Chasing losses
Well.. playing the "should of" game its hard to be right... hindsight is the perfect judge.
Can you buy and sell at will????
Yes
What site is it your trading on?
Here ya go: claytrader.com/resources/
Lost my butt on BTX. I made some good money and instead of walking away jumped back in when I dipped but it never went back up. A very eye opening experience my friend.
so no stop loss it sounds like?
@@claytrader no stop loss AND I broke 2 of my rules, didn’t follow my strategy and went beyond the 30 minutes. Recipe for disaster.
@@DMO-om8md keep on learning!
I'm learning how to day trade. I lost $0.45 out of my $20.25 this morning, and I'm thinking about why I lost my trade. I have a long way to go but, I'm not giving up.
I trade penny stocks.
Careful with those.
@@claytrader Thanks. I trade them because I don't have enough money. I want to build myself up.
Do u trade only in one minute TF??
This should help: claytrader.com/videos/trading-computer-my-day-trading-monitor-setup-explained-how-to-guide/
what platform is this
Here ya go: claytrader.com/resources/
Do you even have a Plan what youre doing there
Yup
👏
Thanks!
WOW
Cheers
👏👏👏
Cheers
You should've sized down and taken the last trade on $TSLA man!!! great content btw
Using hindsight, it's easy to say what I "should have" done.
@@claytrader that's not incorrect
10:00 man lost so much money that his voice cracked lol, great video :)
Or else I had a cold... but your version of the story sounds better...
👌👌👌
Cheers
Yeah today was one of those days .. can’t figure out IHT .. no news ..no product..no earnings..yet heavy volume and run ups..something I’m gonna watch and learn from after that beating 😂🔪
Hopefully you learn the right lesson!
@@claytrader absolutely
I would say that a crash is gonna happen if lumber and steel dont get under control, could be heading for hyper inflation. Bank will rase rates and it will end the bull market...I watch big short every day ,margin call and to big to fail and history could repeat itself but in tech stock..the Spac deals are the new CDO 🤮
@@TikTacTow if you're interested in "talking stocks/trading in general", you are more than welcomed to join my private community - claytrader.com/team/
Do U have a free trial ? Right now I watch your videos daily free..pick up a lot..
I’m from the car world before stocks, people would pay $ 10-20k for Joe Verde class and I would just go to youtube and get the same stuff ppl post from the class ... i hope this doesn’t make u made..I know ur growing ur business and u have an excellent reputation..
Am glad I wasn’t the only one who did this. I shorted PLUG today under vwap with the same reasoning that the market had rolled over. What’d it do? The exact opposite.It rallied. No guarantees...
Edit: after looking realized this was not the same day recorded but the reasoning was the same. It was under Vwap and looked like a roll over.
It happens!
👏👏👏👏👏
Thanks!
I have a doubt. The candles at TSLA clearly show a double bottom, and why would you take a short position against that? And also in BTX trade, the stock shows an evening star pattern, why would you take a long position against that too?
You are doing all this trading with hindsight.
@@claytrader no, it might look like I am commenting down on watching a video. But when u enter any trade we all must look at previous candles to see the strength though and also double bottom and evening star are eye-catching ones even for a person who just started trading yesterday.
@@empathicsalami6683 you are trading with hindsight, trust me... I used to do what you are... it's cool, hindsight can be VERY tricky...
@@claytrader I really don't understand what u imply!! How's looking at the candle sticks would be a bad thing? Is it that u say, after looking at candle sticks, people would be biased and would get attached to the direction of the trade even if it goes in the opposite direction?
@@empathicsalami6683 i'm implying you aren't being totally honest with yourself...
some days you win some you lose :D
but i've been learning that the key is to keep trading and to learn when you lose so you can win next time XD
Glad you're learning!
Shorting a double bottom?! Going against that trend on Tesla? I don't understand it.
If it would have broken down you'd be saying, "well done shorting that false double bottom"... it's easy to say "it is the bottom" when hindsight shows it was the bottom.
Sorry clay! From my perspective once it broke vwap i would be super long. Especially after it touched it and didn’t break. Thank you for the videos , seriously thank you
I agree with you, problem is...at the time, I didn't have hindsight in my favor.
@@claytrader you’re awesome clay thanks for the response. Have a nice trading day today!
@@stevcass1822 cheers
“I’m shortening right now” that’s the problem! It’s time you start buying in the dip
How cute. Cherry pick an example of it not working despite all the times it has worked...
👍😊
Thanks!