Change comes from stepping out of our comfort zone. The change of becoming a stay at home mom day trader was not an easy one or without fear. However the only way to overcome fear in life is to face it head on no matter what the situation is you are fearful about. Usually that fear is just a mental hurdle that we battle.
Never did I think the day that I started my journey to daytrade back, that I would be so open to helping others in the same journey. First with Twitter, then this blog, then YouTube, the book and now the Modern Traders Summit June 23rd.
I am always trying to put myself in your shoes to think about what someone could need in starting out and how I can help. Little did I know that in setting up the Summit I would be so challenged. With each new adventure in my journey of helping I discover newhurdles.
Planning the summit has been one full of suprises and great new challenges that I just tackle head on. I have been a bit absent from the blog because I did not anticipate all the details to be in planning the event. I am so thankful to all my friends and husband for their help and support in keeping me on track to make it happen.
We are now 3 weeks out and the speaker line up is amazing to cover all sorts of trading styles and markets. We have Cryptos, Futures, Options, Stocks, Shorting and more. All of the speakers have the same intention to help you succeed in your trading journey.
We all know that with the success comes hard work. It is not a get rich quick scheme. You must devote the time and there is not one time frame that works for each person on the road to success. The goal is to help you shorten that time frame. However with each personal goal it is up to you to succeed.
The time and effort that you put forth in challenging yourself each day will help you make it happen. I can’t remember if it was Grant Cardone or Tony Robbins or Jim Rohn that said if you want change in your life you need to have change in your actions. It is 100% true. If you want something different in life you need to do something different. So that means you shouldn’t wait, take that action today!
That is what it was for me in setting up the Modern Traders Summit. Taking action everydat to make it happen for you.
The opportunity for you to improve in trading from the speakers is right in front of you. It’s now your choice to take action to attend or watch it streaming.
Are you going to let this opportunity slip by or take action today?
Do you want that change to start today? Your actions predict your future….
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you have quest.ions or comments you can contact me here or on Profitly, Twitter (@jane_yul), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane). carpeprofit@gmail.com or YouTube
If you are interested in receiving my morning watchlist email sign up here to receive 3 days free. It is affordable at $19.95 per month, which is roughly $1 per trading day.
My book is available at Amazon FMJ Trust Transition Trade: How Successful Traders Said It, Did It, and Lived It . As well as Barnes and Noble, Indigo, Chapters,and more.
If you want a signed copy please go to the book site
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. 15% Off First Month or First Annual – Promo Code CARPETPROFIT15
For my charts I use tradingview.com which offer free charting and paid services
Also Stocks To Trade that has a 1 week $1 trial
For the fastest level 2 I have found I use Equityfeed.
This blog is for information purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
Today in meeting with our good friend Michelle it brought back all the memories of my start in the day trading world.
The first day I remember finding Timothy Sykes and starting to research terms and feeling overwhelmed. For those that know absolutely nothing about trading terminology you are going to find investopedia.com your go to spot for informing you.
Don’t be fooled that is just the beginning of learning the market. As like any profession you have to build a base before you can begin your trading journey
A guideline of how to make it as a trader as a profession. It will take hard work and patience in your journey.
Step 1. definitely start studying anything and everything about the market. The more you learn the more you will find you don’t know. The market is every changing and you have to adapt as the market changes.
Step 2. try to find a program or mentor that you mesh with that will keep you motivated along your journey. There are many out there. Make sure whomever you choose that they don’t boast a guarantee of their product to make you profit. Everyone learns differently and everyone has to find a strategy that works for them.
Step 3. Determine how much time you can honestly devote to trading. This might be something you will be doing part time to start as you are still working you 9 to 5 job.
Step 4. Once you know who you want to work with and how much you can devote then study up, and start your paper trading. I highly recommend paper trading to find your strategy. It is much easy to pay $30 a month to practice than lose your hard earned money. Remember that if you need to paper trade for a year that is roughly $360 versus thousands you could lose in your first account (I speak from experience on this one…I blew through a $6k account in a couple months not knowing)
Step 5 Once you have consistency and confidence in your personal fingerprint strategy. It is time to open your trading account. Depending on where you are in the world there are different brokers that you can use. If you are in the States and starting with a smaller account then you will probably encounter the PDT Rule
To name a few good brokers Think or Swim, Interactive Brokers, Trade Station, Fidelity and Lightspeed. There are other off shore brokers that you can use, but myself I have never been intersted in going with an unsecured company.
Step 6. Journal you trades from the moment that you begin trading a free site is Profitly
In trading you are not in competition with anyone else. Everyone learns at a different pace and your goal is to be profitable. Trading the right setups at the right time will help you be profitable. The more you keep track of your trades and your emotions in entering the trade and exiting the trade you will understand your trading pyschology. You are your own worst enemy in trading.
Step 7. Continue to grow in your trading. As your real money profits begin growing remember there are 4 outcomes: Big Wins, Small Wins, Small Losses and Big Losses. If you simply get rid of big losses and learn to let the Wins grow then you should be able to continue growing your account.
When you mess up know it is part of the trading journery and use it as a learning experience. If you need to step away from trading and don’t take it out on the market. Trade with a clear head.
I know you must have many questions and I’m always happy to share what I have learned to help you shorten your learning curve. I was in your shoes a short 3 years ago. I now wake up everyday and feel incredible blessed to have found it as a career. I remember back in 2009 a friend of mine did it and I said teach me. I never realized how passionate I would be about it and helping others in the same journey.
To help more people in person I set up the Modern Traders Summit which will be June 23rd in Orlando Florida. If you are interested in learning more make sure to check out the website where you can learn about other like minded traders that will be speaking about how they can help you improve as a trader. Seats are selling quickly so make your you secure your spot.
I have also partnered with Tradealike to provide my real time alerts via their mobile app. It is cool because there is no subscription cost and you can pick and choose which alert you would like to purchase.
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you have quest.ions or comments you can contact me here or on Profitly, Twitter (@jane_yul), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane). carpeprofit@gmail.com or YouTube
If you are interested in receiving my morning watchlist email sign up here to receive 3 days free. It is affordable at $19.95 per month, which is roughly $1 per trading day.
My book is available at Amazon FMJ Trust Transition Trade: How Successful Traders Said It, Did It, and Lived It . As well as Barnes and Noble, Indigo, Chapters,and more.
If you want a signed copy please go to the book site
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. 15% Off First Month or First Annual – Promo Code CARPETPROFIT15
For my charts I use tradingview.com which offer free charting and paid services
Also Stocks To Trade that has a 1 week $1 trial
For the fastest level 2 I have found I use Equityfeed.
This blog is for information purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
So what do we do now? This is a daily chart of the $SPY. If you are newer to day trading you might not know what SPY, QQQ, IWM mean. To explain them they are the ETFs of the S&P500, Nasdaq and Russell 2000. If you are unsure of what an ETF is click here for the investopedia.com definition. Also if you ever hear a term in trading you don’t understand I recommend popping over to investopedia.com to learn more about the subject. They have amazing definitions about indicators, terms and more.
It’s all over the news its the biggest drop in many years of the market. I used Heikin Ashi candles for the chart which will show you more of the trend of the stock or ETF. When you look at the chart you see that as of Dec 29th the SPY was in a breakout mode for 20+days. It followed the trend and kept growing and growing. Like a low float stock that has had a big run the SPY as well as the stocks in the SPY were showing overbought.
Another indicator that can show when a stock is RSI. As you can see on the chart the RSI reached roughy 91 and anything over 70 is considered overbought and usually will cause a correction. On the flip side any RSI below 30 is considered oversold. Fridays close measured 28.4 on the RSI. This doesnt mean that it won’t continue further down, but a likely indication of a bounce or consolidation before a reversal or continuation of the trend. As yo can see on Tuesday the RSI also dropped below 30 and recovered to then continue in the down trend.
In trading I never rely on just one indicator to make a decision but use them to see a bigger picture.
So back to the question what do we do from here? If you are a long biased trader I would definitely say it is time to practice paper trading. One of the best things this week is shorting or buying puts as the market trend has been bearish. It tends to be easier to go short when the overall trend is bearish and long when the market is bullish.
I have many friends asking me are you ok with this massive drop in the markets. My response is yes. I love all the volatility that this market is bringing. Volatility and Volume are great for price action and liquidity to trade and make profits quickly. There are so many opportunities out there long and short. One of the best things I can recommend it you are newer to trading is really study the market price action and what happens with volume. The catalyst this week for many stock to drop was the overall trend and fear of the stock holders.
You will also see if you look at an intraday chart of the spy there are different times at which you can see reversal or trend changes in charts.
I have people ask me if I’m in any stocks long and I did just re enter OLED at 140.66 for a long term swing again. To me the bounce off of 242 for the SPY is the start of a reversal. I will wait for further confirmation. However if the SPY can stay above 250 for this upcoming week in my opinion we are consolidating and gaining investors confidence to once again invest.
I try to always put myself into the mind of other stockholders to think of what they might be thinking. When the stocks are dropping your average Joe trader gets fearful and then sells and it snowballs into more selling and more selling until an extreme when people see the stock on sale. Like AMZN to me. I think AMZN is on a deep discount down at 1311. I think AMZN would be a good long term swing from here as they are a good value company in my opinion. They just posted biggest earnings ever and with the market trend dropped 200 points. They just announced to further vertically integrate their company with a trial of setting up a delivery service in the LA area. This was a big reason for the drop in UPS and FDX on Friday. And they just poached an NBC exec to help them with their own studios. They are looking to compete directly with Netflix in the streaming content arena.
To me this past week of the market has brought forth many potential long term swing opportunities as we see many stocks large cap and small fall to support levels which are great for longs. It minimizes your risk going long or buying the stock at a support level.
I know you must have many questions and I’m always happy to share what I have learned to help you shorten your learning curve. I was in your shoes a short 3 years ago just beginning my studies of the day trading world. I now wake up everyday and feel incredible blessed to have found it as a career. I remember back in 2009 a friend of mine did it and I said teach me. I never realized how passionate I would be about it and helping others in the same journey.
To help more people in person I set up the Modern Traders Summit which will be June 23rd in Orlando Florida. If you are interested in learning more make sure to check out the website where you can learn about other like minded traders that will be speaking about how they can help you improve as a trader. Seats are selling quickly so make your you secure your spot.
I have also partnered with Tradealike to provide my real time alerts via their mobile app. It is cool because there is no subscription cost and you can pick and choose which alert you would like to purchase.
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you have quest.ions or comments you can contact me here or on Profitly, Twitter (@jane_yul), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane). carpeprofit@gmail.com or YouTube
If you are interested in receiving my morning watchlist email sign up here to receive 3 days free. It is affordable at $19.95 per month, which is roughly $1 per trading day.
My book is available at Amazon FMJ Trust Transition Trade: How Successful Traders Said It, Did It, and Lived It . As well as Barnes and Noble, Indigo, Chapters,and more.
If you want a signed copy please go to the book site
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. 15% Off First Month or First Annual – Promo Code CARPETPROFIT15
For my charts I use tradingview.com which offer free charting and paid services
Also Stocks To Trade that has a 1 week $1 trial
For the fastest level 2 I have found I use Equityfeed.
This blog is for information purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
If you are interested in receiving my morning watchlist email sign up here to receive 3 days free. It is affordable at $19.95 per month, which is roughly $1 per trading day.
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you have questions or comments you can contact me here or on Profitly, Twitter (@jane_yul), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane). carpeprofit@gmail.com or YouTube
My book is available at Amazon FMJ Trust Transition Trade: How Successful Traders Said It, Did It, and Lived It . As well as Barnes and Noble, Indigo, Chapters,and more.
If you want a signed copy please go to the book site
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. 15% Off First Month or First Annual – Promo Code CARPETPROFIT15
For my charting I use Trading View that offers free and paid charting
Also Stocks To Trade that has a 1 week $1 trial
For my level 2 I use Equityfeed.
This blog is for information purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
If you are interested in receiving my morning watchlist email sign up here to receive 3 days free. It is affordable at $19.95 per month, which is roughly $1 per trading day.
Trade Ideas will be hosting a full access open house of their pro software for $8.88 the week of Jan 22nd, 2018.
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you have quest.ions or comments you can contact me here or on Profitly, Twitter (@jane_yul), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane). carpeprofit@gmail.com or YouTube
My book is available at Amazon FMJ Trust Transition Trade: How Successful Traders Said It, Did It, and Lived It . As well as Barnes and Noble, Indigo, Chapters,and more.
If you want a signed copy please go to the book site
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. 15% Off First Month or First Annual – Promo Code CARPETPROFIT15
Also Stocks To Trade that has a 1 week $1 trial
For my charting and level 2 I use Equityfeed.
This blog is for information purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
If you are interested in receiving my morning watchlist email sign up here to receive 3 days free. It is affordable at $19.95 per month, which is roughly $1 per trading day.
Trade Ideas will be hosting a full access open house of their pro software for $8.88 the week of Jan 22nd, 2018.
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you have quest.ions or comments you can contact me here or on Profitly, Twitter (@jane_yul), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane). carpeprofit@gmail.com or YouTube
My book is available at Amazon FMJ Trust Transition Trade: How Successful Traders Said It, Did It, and Lived It . As well as Barnes and Noble, Indigo, Chapters,and more.
If you want a signed copy please go to the book site
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. 15% Off First Month or First Annual – Promo Code CARPETPROFIT15
Also Stocks To Trade that has a 1 week $1 trial
For my charting and level 2 I use Equityfeed.
This blog is for information purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
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