By Tyler Stokes
Welcome to "Day Trading for Beginners," hosted by Tyler Stokes of StokesTrades.com. This podcast is a real-time chronicle of my journey into the world of day trading, starting from the very basics.
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The podcast currently has 41 episodes available.
Welcome to Season 2 Episode 9 of the "Day Trading for Beginners" podcast. I'm Tyler Stokes from StokesTrades.com, and as I progress in my journey to become a full-time day trader, I've been exploring various trading strategies. Today, I'll share more specifics about the strategy I'm currently learning, which is more aligned with swing and position trading, though it can be adapted for day trading as well.
Download the 6 Month Blueprint: https://stokestrades.com/blueprint
TradingView Charting Software: Start a free trial here
TraderSync Trading Journal: Visit the official website here
Resources Mentioned:
Market Symmetry Strategy Explained: See this post in our group here.
Market Symmetry Strategy: The core of this strategy revolves around market symmetry, recognizing patterns that repeat over time. Key components include:
Tools and Indicators: To implement this strategy effectively, I use several technical tools:
Learning from a Pro: I've been learning this strategy from a professional trader known as The Great Mattsby, whose insights on market symmetry have been invaluable. For those interested, I've included links to his resources and Patreon in this write up.
Practical Application: Practicing this strategy in my paper trading account has been immensely beneficial. It's one thing to study a strategy, but applying it practically offers a whole new level of understanding and skill development.
Next Steps: In the upcoming podcast episodes, I'll share my experiences applying these strategies, focusing on the rules I've followed and the common mistakes encountered during live trading sessions.
Website and Other Social Accounts:
https://stokestrades.com/
https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:
https://www.skool.com/day-trading-for-beginners
Welcome to Episode 8 of the "Day Trading for Beginners Podcast." I'm Tyler Stokes from StokesTrades.com. As I journey towards becoming a professional day trader, I'm exploring various trading strategies, and in this episode, we'll compare day trading with swing and position trading.
Download the 6 Month Blueprint: https://stokestrades.com/blueprint
TradingView Charting Software: Start a free trial here
TraderSync Trading Journal: Visit the official website here
Resources Mentioned:
Market Symmetry Strategy Explained: See this post in our group here.
The WIKI: Download it here (There may be newer versions you can search for on the forum)
Today’s Topic – Trading Strategies Compared: Many beginners will likely need to decide whether day trading, swing trading, or position trading suits their lifestyle and goals best. This episode breaks down the differences and shares insights into the strategies I am currently exploring.
My Trading Strategy Exploration:
Key Differences:
PDT Rule Discussion: An essential aspect for day traders to understand is the Pattern Day Trader (PDT) rule, which affects traders using margin accounts in the U.S. by requiring a minimum account balance of $25,000 if executing four or more day trades within five business days.
Choosing the Right Strategy: Deciding on the right trading strategy involves testing and personal reflection. While I began with a focus on day trading, my current study of swing and position trading strategies may influence a shift in my trading approach.
Website and Other Social Accounts:
https://stokestrades.com/
https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:
https://www.skool.com/day-trading-for-beginners
Welcome to Episode 7 of the "Day Trading for Beginners Podcast." I'm Tyler Stokes from StokesTrades.com, on my journey to becoming a full-time day trader. This episode, we're exploring my initial day trading setup as a beginner who's recently started paper trading.
Download the 6 Month Blueprint: https://stokestrades.com/blueprint
TradingView Charting Software: Start a free trial here
TraderSync Trading Journal: Visit the official website here
Our Free Community on Skool: See this post in our group here.
All Resources:
https://stokestrades.com/day-trading-setup/
Setting up your trading environment is crucial as you transition from learning to actual trading. I’ll share the details of my current setup to help you understand what you might need to get started efficiently.
Essential Components of My Setup:
Guidance for Beginners: Don’t feel pressured to have everything figured out immediately. Start with the basics, and as you advance in your trading journey, you can refine your setup. The key is to begin with essential tools that allow you to execute and analyze trades efficiently.
Website and Other Social Accounts:
https://stokestrades.com/
https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:
https://www.skool.com/day-trading-for-beginners
Welcome to episode 6 of the "Day Trading for Beginners Podcast." I'm Tyler Stokes from StokesTrades.com, embarking on a full-time day trading journey. This episode, we're taking a brief pause from strategy discussions to talk about a fundamental concept every trader encounters: margin.
Download the 6 Month Blueprint: https://stokestrades.com/blueprint
TradingView Charting Software: Start a free trial here
TraderSync Trading Journal: Visit the official website here
Our Free Community on Skool: See this post in our group here.
Today’s Topic – Understanding Margin: Margin trading can significantly increase your purchasing power but comes with its risks. This episode will break down the basics of margin, including what it is, margin requirements, margin calls, and how margin impacts buying power.
Key Concepts Covered:
Understanding the Risks: While margin can expand your investment capabilities, it also enhances potential losses. Managing these risks is crucial, especially for beginners not trading with real money yet.
Website and Other Social Accounts:
https://stokestrades.com/
https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:
https://www.skool.com/day-trading-for-beginners
Welcome to season 2 episode 5 of the "Day Trading for Beginners Podcast." This episode focuses on essential trading metrics: win rates and risk-to-reward ratios, crucial for evaluating the effectiveness of your trading strategy.
Download the 6 Month Blueprint: https://stokestrades.com/blueprint
TradingView Charting Software: Start a free trial here
TraderSync Trading Journal: Visit the official website here
Our Free Community on Skool: See this post in our group here.
Today’s Focus – Win Rates and Risk-to-Reward Ratios:
Understanding and calculating win rates and risk-to-reward ratios are fundamental for any trader. These metrics help you gauge the effectiveness of your strategies and manage your trades more precisely.
Trading Tools and Resources:
Community Engagement:
Join our Day Trading for Beginners group on Skool where you can connect with other traders, find accountability partners, and access a wealth of shared knowledge.
Closing Thoughts:
Mastering win rates and risk-to-reward ratios not only enhances your trading strategy but also boosts your confidence in making informed trading decisions. These metrics are key to managing your trades and ensuring long-term profitability. You won't master them right away, but overtime you should understand what these are in your own trading.
Website and Other Social Accounts:
https://stokestrades.com/
https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:
https://www.skool.com/day-trading-for-beginners
Welcome to another episode of the "Day Trading for Beginners" podcast. In this short episode, we're going to talk about confluence. If you're just joining us, be sure to download the 6 Month Blueprint that offers a roadmap for your first steps as a day trader.
Download the 6 Month Blueprint: https://stokestrades.com/blueprint
TradingView Charting Software: Start a free trial here
The WIKI: Download it here (There may be newer versions you can search for on the forum)
Our Free Community on Skool: See this post in our group here.
What is Confluence?
Confluence in trading refers to a situation where multiple technical indicators or analysis techniques align, suggesting a more robust forecast for market direction. This alignment increases the likelihood of a successful trade by reinforcing the signal strength.
Seeing Confluence in Action:
To observe confluence firsthand, you can use charting tools like TradingView. I've included a link in the show notes for you to access TradingView, where you can sign up for a free account with some limitations. This tool is excellent for visualizing how different indicators converge on a chart to indicate potential trading opportunities.
Why Confluence Matters:
Understanding and identifying confluence is crucial because it helps traders make more informed decisions. Instead of relying on a single indicator, confluence allows you to gather evidence from multiple sources, reducing the risk of false signals and increasing your confidence in executing trades.
Examples of Confluence:
Closing Thoughts:
Today's episode was a concise exploration of confluence, a key concept that you'll encounter repeatedly in your trading journey. By understanding and utilizing confluence, you can enhance the accuracy of your trades and make more strategic decisions.
Website and Other Social Accounts:
https://stokestrades.com/
https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:
https://www.skool.com/day-trading-for-beginners
Welcome to another episode of the "Day Trading for Beginners" podcast. In this season, we are discussing strategy. If you're just joining us, be sure to download the 6 Month Blueprint that offers a roadmap for your first steps as a day trader.
Download the 6 Month Blueprint: https://stokestrades.com/blueprint
TradingView Charting Software: Start a free trial here
The WIKI: Download it here (There may be newer versions you can search for on the forum)
Exploring a New Strategy:
Today’s episode focuses on understanding the 'story' a stock tells through its market behavior, a concept I encountered while studying the strategy guide from the RealDayTrading Reddit group. You can find this guide, which is integral to the strategy we're discussing, linked above.
The Importance of the Stock's Story:
In the guide, there's a section that explains how to interpret the narrative of a stock, exemplified through a case study of Microsoft. The guide stresses the importance of context in evaluating price movements—understanding the 'story' helps distinguish between meaningful trends and market 'noise.' This clarity is crucial for making informed decisions about when to enter or exit trades.
Connection to Another Strategy:
This concept of storytelling in stock analysis reminded me of another trader, Matt, known as 'The Great Mattsby,' whose insights I’ve followed on YouTube and X. Matt has an exceptional knack for breaking down complex market data into understandable narratives. I have no affiliation with Matt, but his expertise in telling the story of a stock and market has significantly influenced my understanding of technical analysis.
Learning from Matt:
Impressed by his approach, I decided to invest in Matt’s course to deepen my knowledge of technical analysis and market patterns. Matt's course offers detailed video lessons on various technical indicators and trading strategies, focusing on market symmetry — recognizing consistent patterns that indicate potential buying or selling opportunities at support and resistance levels.
Matt’s Unique Perspective:
When I asked Matt about his edge in trading, he highlighted his ability to identify market symmetry across different charts, which he believes is crucial for trading without emotion. This skill allows him to execute trades based on solid analytical foundations rather than speculative guesses.
Why This Matters:
Understanding the narrative that charts and market data present can transform how new traders perceive and react to market conditions. This approach not only aids in developing a strategic edge but also aligns with the lessons from the free Wiki guide by providing a structured method to interpret market dynamics.
Looking Ahead:
As we continue to explore these strategies, I plan to integrate insights from both the Wiki and Matt’s teachings to enhance our trading toolkit. The upcoming episodes will delve deeper into specific strategies and tools that can
Website and Other Social Accounts:
https://stokestrades.com/
https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:
https://www.skool.com/day-trading-for-beginners
Welcome back to the "Day Trading for Beginners" podcast. Today, we reveal the first day trading strategy I'm exploring.
Download the 6 Month Blueprint: https://stokestrades.com/blueprint
TradingView Charting Software: Start a free trial here
The WIKI: Download it here (There may be newer versions you can search for on the forum)
Resource: Relative Strength and Weakness Explained
Transitioning from Basics to Strategy:
Having established a solid foundation over the initial six months, which covered everything from setting up a brokerage and paper trading account to understanding the basics of stocks, options, and technical analysis, the question now is: what's next? How do I decide on a strategy for making trades?
Choosing My First Strategy:
The strategy I've decided to start with comes from the founder of the ReaDayTrading Reddit group, named Hari. He has created a comprehensive guide, or Wiki, which is completely free and appears to offer transparent, valuable insights into day trading.
The Trading Strategy:
This strategy revolves around following the big moves in the market, specifically what large institutions are doing. The theory is that by understanding and mimicking the actions of these major players, smaller traders can find success.
"The edge of this strategy lies in closely tracking the actions of big institutions. These entities have the financial power to significantly influence market movements, and by aligning with their trades, you can leverage their market impact to your advantage."
Exploring Further Strategies:
While I begin with this strategy, I'm also looking into another strategy by a trader named Matt, known as 'The Great Mattsby'. I'll share more about this and compare the two approaches in future episodes, providing insights into why different strategies might appeal to different traders.
Download Resources and Subscribe:
Visit StokesTrades.com/blueprint to download the 6 Month Blueprint for free and subscribe to the podcast to not miss out on forthcoming episodes detailing real day trading strategies and educational content.
Website and Other Social Accounts:
https://stokestrades.com/
https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:
https://www.skool.com/day-trading-for-beginners
Hi, I'm Tyler Stokes, and I'm thrilled to welcome you back to the "Day Trading for Beginners" podcast. If you're a new listener, I recommend starting with Season 1 and downloading the 6 Month Blueprint to catch up on all we've covered. For those who've been with us, welcome to the next phase where we'll focus on actual day trading strategies.
Download the 6 Month Blueprint: https://stokestrades.com/blueprint
TradingView Charting Software: Start a free trial here
Resource: Technical Analysis for Beginners
The WIKI: Download it here (There may be newer versions you can search for on the forum)
Recap and Introduction:
Season 2 is all about moving forward with what we've learned and applying it to day trading strategies. If you're just joining us and feel new to the scene, it's crucial to start from the beginning to build a solid foundation. The 6- Month Blueprint outlines all the essential steps from setting up a brokerage account to understanding the basics of technical analysis.
Strategy Exploration:
The primary goal for this season is to transition from understanding technical tools to learning a trading strategy. We'll explore various strategies, starting with an approach from the RealDayTrading Reddit group's Wiki, which I've found to be a robust starting point.
Paid Resources:
While the initial learning phase can be done for little to nothing, there comes a time when investing in more detailed courses or tools may be beneficial. I'll share my experiences with paid resources that can offer deeper insights into specific strategies or technical setups as the season progresses.
Mindset and Expectations:
It's crucial to maintain a balanced approach between eagerness to progress and realistic pacing. The journey to becoming a proficient trader can take years, and it's important to pace yourself according to your life's commitments and time availability.
Looking Ahead:
In the next episodes, I'll review the specifics of the strategies I'm exploring, including insights from the Wiki and additional resources that may involve some costs but offer substantial educational value IMO. We'll discuss how these strategies can be integrated and adapted to suit individual trading styles and goals.
Stay Tuned:
Thank you for joining me as we kick off Season 2. Be sure to subscribe to the podcast. I look forward to sharing more about my trading strategy explorations and learning experiences in upcoming episodes.
Join Us: Remember to join our free community on Skool for more interactive discussions and shared learning experiences. Here's to a productive season of trading insights and strategy development! See you in the next episode.
Website and Other Social Accounts:
https://stokestrades.com/
https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:
https://www.skool.com/day-trading-for-beginners
Welcome to episode 32 of the "Day Trading for Beginners" podcast, the finale of our first season! Today I'll be recapping our journey since starting in January 2024. I'll share some valuable resources and my personal reflections on how things have gone.
After this episode, we'll take a break for July and August, but don't worry, we'll be back live on September 2nd.
Download the 6 Month Blueprint: https://stokestrades.com/blueprint
***All resources and links mentioned are found in the Blueprint. Download it for free here.***
Recap of the Season: We started this journey in January 2024, and now, 6 months later, we're taking a moment to review the progress. This episode will dive into the major steps and topics we've covered, reflecting on what has worked and the lessons learned.
Blueprint for Success: If you haven't already, I highly recommend downloading the 6 Month Blueprint. This document outlines every step I've taken and includes links to all the content created, along with the free courses available on our community platform on Skool. It's completely free and a great tool to stay updated with all the latest revisions and helpful tips.
Personal Journey and Future Plans: As we wrap up the first season, I'll share how my personal commitments and my schedule constraints have influenced my learning pace and study habits. These might be relatable to your personal schedule.
Season 2 Preview: The podcast will resume on September 2nd, marking the start of Season 2. During the break, I’ll be preparing new content and updating our strategy based on the insights and feedback from Season 1. Expect more detailed discussions on technical analysis, options trading, and possibly new trading strategies that align with our growing skills and market insights.
Join Our Community: Don’t forget to join our community on Skool, where you can access all the resources discussed, interact with fellow learners, and find accountability partners to keep you motivated. It’s a great place to share your progress and learn from others’ experiences. You can join for free here.
Stay Connected: Make sure to subscribe to the podcast to get notified when we return for Season 2. All the links and additional resources mentioned in today’s episode are found in the Blueprint.
Thank you for tuning in, and I look forward to kicking off the next phase of our trading journey together in September. Happy studying, and see you soon!
Website and Other Social Accounts:
https://stokestrades.com/
https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:
https://www.skool.com/day-trading-for-beginners
The podcast currently has 41 episodes available.
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