Investing & Day Trading Education:  Day Trading Academy

Oct 26th Recap: 9 Pts from London, England

I meant to have this up Friday but unfortunately I have been plagued by low internet upload speeds here at the hostel where I am staying and chose to upload the live class recordings for everyone in the training program for this week.

One of the things that I make sure I do for everyone is record not just the live classes, but all of the review classes as well.  We have traders from all over the globe and as a person that learned how to trade when he was working full time and going to school full time, I know full well that sometimes our schedules just don’t fit.

By exclusively supporting Ninja Trader that allows everyone to replay the market as it was live at any time of the day, it doesn’t matter where you are in the world or what time it is.

Anyone can now learn how to day trade

We also share something called notes from the field videos where we talk about some of the intricate details of the market when necessary.

The story for today is all about risk management, I had an average loss of only .83 which equates to roughly $41.50 per contract.  My average win for today was roughly 1.9 points, or $95 per contract

risk management

If we put that into perspective I only had to be right 43% of the time today in order to be profitable.  Luckily, I am able to read the market and understand when I need to be aggressive and take advantage of good movement.

Some traders may avoid this kind of activity all together but if you notice I actually finished trading just before 11.30am EST.  Who wants to go all morning without taking a trade or waiting for the afternoon? On a Friday of all times.

Being able to know when to  minimize risk, be aggressive with stops and conservative with them as well, is the key to being able to make money in the markets.

Its more important to not lose money than to make money with day trading

It takes a lot more effort to make money than it does to lose money.  One of the ideas of staying Congressive is to ensure that we are on the right side of the market.  One big concept isn’t just the classic idea of Risk Vs Reward.

There are certain movements in the market that prove to be 90% to 95% winners but they may only go for 1 point or 1.5 points.  Taking advantage of that movement as well even though it doesn’t fit a classic 2 vs 1 risk vs reward model is one of the biggest advantages of our program.

Wouldn’t it make sense to take both a trade that works out 90% of the time for only 1 point than a trade that wins 2 pts 60 to 70% of the time.  Think about that.

Click here to see the complete list of Market Recaps

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