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Today, we're going to be talking about how to stay consistent with your trades guys how to stay consistent and stay profitable because a lot of Traders will, you know get profit then it will take it back take profit then take it back. So the pretty much just breaking even day after day month after month and they need to create some of the stuff we're going to be talking about in this. Little lecture. So that's jump into it guys. Alrighty. So the first thing that you guys have to do is you have to be consistent with your effort because effort is Honestly by far one of the most important things that you can have whether you're a hedge fund Trader or you're just a small retail Trader starting out you're going to have to put in effort to it. This includes anything from studying the markets to researching Investments and preparing yourself the night before for the morning ahead. So effort is is big-time guys and that this could also include, you know reading books because day trading and trading the stock market each day. It's different each day. There's different stocks. There's different patterns. So you have to have consistent effort to understand everything that's going on. All right, so let's jump into the next thing now, this is one of the things that I need help big time when I first started trading in this is to create a routine. So this is this includes what time you get up in the morning. When you go to an office if you have one if you're a full-time or professional Trader what time you get home? When do you eat dinner? You know what time do trade or what time do you go to bed? So one of the biggest things that I found found out is I trade better when I work out in the morning. So most days, you know, obviously not all days, but most days probably Lee, you know, maybe four out of the five trading days I will actually wake up at 6 a.m. Go for a jog because for me that helps me clear my head that helps me, you know, kind of get my brain going and everything starts moving. So that's what I had to figure out how to figure out a routine that works for me. So pretty much my routine is that I wake up. I'll go to the gym. I will come back take a shower have some. Oh Oatmeal or breakfast and then I'll turn on my trade idea scanner start looking at stocks that are moving pre market stocks that I see some sort of potential throughout the day and then 939 or pretty much 9:15. Nine ten. I will start creating a watchlist, you know, picking three stocks that I see more potential stocks that are maintaining pre-market High stocks. That have higher volume. I just want to be a hundred percent ready for the day. And then when 9:30 rules around them, you know by 905 or 940. I'm already taking trades. I'm already in the market and then I normally am done by at least 11 if not sooner. So that's pretty much just my trading day and then I will, you know create a YouTube video a podcast. Just you know and just do a variety of things so that by the time you know, I'm done with everything. It's probably roughly maybe around three or four and then I you know, go start making dinner and then you know, maybe turn on a TV show and do some you know work on my computer still looking at stocks that are moving throughout the day. So that's pretty much what I do on a day-to-day basis so that consist of effort and a routine So it's kind of like a combination of both. So let's move on to the next one. So creating routine is very very important as day Traders guys. All right. So now this is another thing that I've struggled with when I first started trading is when I first started trading I wanted to learn every strategy. I wanted to learn everything guys. I wanted to you know, I wanted I wanted to know it all I guess so, So I felt when I was trading, you know, I didn't it I knew what I was doing, but I did it if that makes sense. You know, I felt like I had too much noise, you know too much things going on and I just got lost now, obviously when that happens that is terrible because then you start losing money. Then everything's just starts going bad and it just does not work. It doesn't work good. So what I had to do is I had to kind of take a step back. I can take you know, a couple days off to paper trade and I had to commit to one strategy that worked well for me and that definitely worked and then I became you know, I started to trade more and I built up an account and then everything started started working out for me. So the biggest thing to MIT the one strategy and obviously each day's going to be different but what you do is each day you alter your strategy if their stocks. That are crazy and you know are moving awesome. Then you you know, you use your normal strategy, but if it's a little slower day, maybe you you adjust your strategy just your criteria and you can still make money and slow markets guys, you know, just because that's say the S&P is down does not mean small caps are going to be down because really small caps have no correlation to the larger. You know, the larger cap stocks in the and the SP in the market so, you know commit to strategy and you know find something that works for yourself, you know. All right. Now this one is very very important. This is to create rules. So this is kind of piggybacking off commit to a strategy here. So what I found is that when I when I had a set of rules that pretty much determined a way to pick My stocks would have to pick my entries my stops and you know, maybe my target goals. Maybe I go 1 2 3 4 I take profit at goal one or you know profit one and I start scaling out between two and three if it goes up that high but so I had to figure out a set of rules and if a stock did not meet the set of rules that I'm not going to trade it. I want to trade the best and leave the rest. I don't want to be tuned into You know one stock where I'm like, oh my God, I have to treat it. I have to trade it and then I see it either rallying up more and I know I could have got in but if I have a set of rules that say, okay I can get on the first micro pull back here. So and maybe setting my stops below either moving average line or maybe below a certain price point. So then the stock rallies up. Okay. It's up 4% I'm going to start taking. Maybe if I sell half my shares so now I'm up two hundred three hundred dollars and then it may be consolidates for a minute and then I move my stop up and then I just, you know, keep adjusting my things. So I have a create a set of rules to to make money because a set of rules will make you more consistent with your trades because you're less likely to break your strategy and the set of rules you created so Yeah guys, so that's pretty much that's pretty much I believe that it. Yeah, so if you guys learned something awesome, if you guys have any questions here, please drop a comment on this video and we're almost to my subscriber goal of 500. So if you guys, you know want to stay tuned and join me every morning with my train idea scanner drop a subscribe below, you know, like the video If you learned something guys, so that is it remember to always A happy stay positive and I hope you guys have a fantastic rest of the week. Take care of everyone. Peace out.
How to Stay Consistent with Your Trades  The key for trading is to make sure that your effort is consistent. Obviously, if you want to be a full-time portfolio manager or trader, then you can’t work on it two hours per week. You need to be putting in the hours and effort in order to make it happen. Of course, in order to do that, you need to make sure that you have the right amount of time to give. If you have too many commitments or activities, then you need to pare them down so as to give you the time to devote to proper preparation. You are going to be active in the market alongside people who are devoting 60+ hours/week to studying the markets, researching investments and preparing, so you want to have at least the minimum preparation necessary to hold your own. When you get up in the morning When you get to the office—esp. if you are a professional, full-time When you get home in the evening When you finish dinner When you hit a certain hour of the day, e.g. 10AM or 6PM This has to be the first step. Remove all the noise, opinions and confusion from your trading. You have to understand that you have to stop changing trading strategies. Once you have chosen your system, create a set of rules that determine the way you pick entries, set stops/targets and manage trades. A set of rules will help you make more consistent trades because you are less likely to break the rules. And once you start taking the same trades over and over again, you will start seeing patterns. You will notice what works and what doesn’t. Then you can make small adjustments and slowly turn yourself int0 a professional trader. ---   This episode is sponsored by  · Anchor: The easiest way to make a podcast. 