Day Trading for Beginners

Welcome back to the "Day Trading for Beginners" podcast! I'm Tyler Stokes, and today in episode 25, we discuss the basics of support and resistance, essential concepts in technical analysis for anyone aspiring to become a full-time day trader. If you're new to trading this episode is your stepping stone towards strategy. Download the 6 Month Blueprint: https://stokestrades.com/blueprint In This Episode: Introduction to Support and Resistance:Practical Insights: Key Points Covered: What are Support and Resistance?Psychology Behind the Levels:Practical Trading Strategies: Join Our Community: Join our free community on the Skool platform where you can share your trading journey, interact with fellow traders, and access all our podcasts and videos as free courses. Join on Skool here. Subscribe to the podcast for more insightful episodes aimed at helping you navigate the complexities of day trading. Stay tuned for our next episodes where we cover more components of technical analysis. 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 24 of the "Day Trading for Beginners" podcast! In this episode, we're learning more about the fundamentals of technical analysis by exploring candlestick charts and trend lines. I'm Tyler Stokes, and I'm sharing my journey towards becoming a full-time day trader. If you haven't yet, download the 6 Month Blueprint: https://stokestrades.com/blueprint Related Videos on YouTube: Candlestick Charts Video:Watch now.Trends and Trendlines Video:Watch now. In This Episode: Candlestick Charts:Trends and Trendlines: Key Points: The Importance of Candlestick Charts:Drawing Trendlines:Horizontal Lines: Additional Resources: Book Recommendation: Technical Analysis of the Financial Markets (This is an Amazon affiliate link) Full article here: https://stokestrades.com/trends-and-trendlines Join Our Community: Engage with other aspiring traders in our free community on school, where you can share your journey and learn together. Join for free here. Subscribe to this podcast for more insightful discussions as we continue our journey into the world of day trading. Next up, we'll discuss support and resistance. Stay tuned! 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 23 of the "Day Trading for Beginners" podcast. This is our first Technical Analysis episode. As we transition from our extensive exploration of options, the next two months will be dedicated to mastering technical analysis. Don't forget to download the 6 Month Blueprint: https://stokestrades.com/blueprint In This Episode: Technical Analysis vs. Fundamental Analysis:Introduction to Price Action:Setting Expectations: Key Points: Understanding Technical Analysis:The Importance of Price Movements: Additional Resources: Book Recommendation: Technical Analysis of the Financial Markets (This is an Amazon affiliate link) 6-Month Blueprint:StokesTrades.com/blueprintJoin Our Community:Join for free here Read the full article here: https://stokestrades.com/technical-analysis-vs-fundamental-analysis Watch on YouTube: https://youtu.be/xJHKxfEMw2Y Subscribe to this podcast for more discussions as we continue our journey into the world of day trading. In the next few episodes we'll look into the tools and techniques of technical analysis, focusing on charts, candlesticks, volume, and more. Stay tuned! 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 22 of the "Day Trading for Beginners" podcast. In this episode, we're wrapping up our month-long journey into the fundamentals of options trading. As we near the end of April and prepare to learn about technical analysis and paper trading, it’s the perfect time to review everything we've learned about options. If you haven't yet, make sure to download The 6 Month Blueprint for becoming a full-time day trader: https://stokestrades.com/blueprint In This Episode: Options Trading Recap:Reviewing Option Prices:Understanding the Greeks and Spreads: Join me as I break down these complex topics with straightforward explanations and insights. Whether you're a novice looking to understand the basics or a seasoned trader brushing up on fundamentals, this episode is designed to equip you with the basic knowledge needed to start learning about options trading. Resources: 6 Month Blueprint:StokesTrades.com/blueprintFree Community on Skool:Access the course here. Don’t forget to subscribe for more insightful episodes like this, and join our growing community on StokesTrades.com to connect with other aspiring traders. 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's episode, number 21, introduces the basics of option spreads, a crucial topic for those new to trading options. As we approach the end of our comprehensive discussion on options, we're setting the stage for more advanced topics like technical analysis in upcoming episodes. Download the 6 Month Blueprint: https://stokestrades.com/blueprint Watch the video on YouTube: https://youtu.be/RBbbGrZiv8g Access the full article: https://stokestrades.com/option-spreads In This Episode: Introduction to Option Spreads:Types of Spreads Explained:Debit and Credit Spreads:Practical Examples: Resources: StokesTrades.com/blueprintJoin our growing community on Skool for free Next Steps: Stay tuned for our next episode where we'll review all we've discussed about options before moving on to technical analysis. Also, look out for visual content on the YouTube channel that complements this discussion with practical demonstrations. 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 20 of the "Day Trading for Beginners Podcast." Following our journey through options trading, we've explored buying and selling options and how their prices are determined. Now, it's time to understand the Greeks—key indicators that help predict how option prices might change. Download the Blueprint: Ensure you've downloaded the 6 Month Blueprint for an in-depth guide on our trading journey. It's available at StokesTrades.com/blueprint This Episode Covers: Introduction to Option Greeks:The Greeks Simplified:Delta and Gamma:Theta, Vega, and Rho: Watch the video on YouTube: https://youtu.be/NmzESzIGvlA Read the full article here: https://stokestrades.com/option-greeks/ Next Steps: Technical Analysis Ahead: Resources and Community: Chat GPT and Learning Tools:Join Our Community: 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," where we document the journey towards becoming a full-time day trader. Today we're pausing for a moment to reflect on the first 3 months of our journey. As we hit this milestone, it's a perfect time to assess our progress against the 6 Month Blueprint we've set out with and discuss the mental resilience required to pursue day trading or any ambitious goal. Download the 6 Month Blueprint: https://stokestrades.com/blueprint This blueprint is our roadmap for the initial months of our day trading journey, covering everything from the basics of the stock market to setting up a brokerage account and intros to options and technical analysis. The Importance of Mindset in Day Trading In one of our previous episodes focused on mindset, we discussed the ups and downs you'll likely face on this journey. March has been a challenging month for me personally, juggling family commitments and unexpected hurdles while staying committed to learning day trading. It's a stark reminder that success is not a straight line but a path filled with setbacks and victories. Remember, persistence and adaptability are key to overcoming the valleys of despair. Where We Stand Over the past three months, we've covered a wide range of topics: Looking ahead, we plan to explore the intricacies of technical analysis and the importance of maintaining a trading journal. While we have laid a solid foundation, there's still much to learn, especially about options and developing effective trading strategies. Staying Consistent The journey to becoming a proficient day trader is long and requires consistent effort. Regardless of the challenges life throws at us, it's crucial to keep moving forward, learning something new every week. Join me in committing to this process, knowing that each small step takes us closer to our ultimate goal. Join Our Community For additional support and resources, consider joining our community on Skool. It's a fantastic space to connect with fellow beginners, find accountability partners, and share your learning progress. Visit StokesTrades.com and click on the community section to join for free. Looking Forward Next week, we'll tackle the topic of options and the Greeks, wrapping up our discussion on options by the end of April. As we approach the halfway mark of our 6 month journey, we're gearing up to learn about technical analysis and setting up a trading journal. Stay tuned, and let's keep pushing forward together. Thank you for tuning in to this week's episode. Don't forget to subscribe to the podcast and check out our YouTube channel for more visual content on day trading. Here's to a productive April and beyond! Image referenced: https://stokestrades.com/day-trading-mindset-of-a-beginner/ 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 18 of the "Day Trading for Beginners Podcast". In this episode, we're talking about how options are priced. It's our third chat about options, building on previous ones about what options are and buying and selling them. Download: If you're walking the same path to become a full-day trader, don't miss my 6-month plan. You can find it at StokesTrades.com/blueprint What We Cover Today: Option Prices:In the Money, At the Money, Out of the Money:Intrinsic and Extrinsic Values:Time and Volatility's Role:Implied Volatility:Learning Tools: Wrapping It Up: This episode aims to make understanding option pricing straightforward, focusing on intrinsic and extrinsic values—key knowledge for dealing with options. Stay in Touch: For more resources, including videos and a community of traders, head over to StokesTrades.com. Let's learn and grow together in trading. Stay tuned for more simple explanations of trading concepts. Let's make trading easier to understand, one episode at a time. 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 17 of the "Day Trading for Beginners Podcast." Today, we're continuing our exploration into the world of options trading. This episode can be considered part two of our introduction to options, focusing specifically on selling options, including both call and put options. Download my 6-Month Blueprint for becoming a full-time day trader: https://stokestrades.com/blueprint Watch the video version here: https://stokestrades.com/selling-options/ In this episode, we talk about: Selling OptionsUnderstanding AssignmentRisks and StrategiesClosing Out Positions Key Takeaways: Resources Mentioned: https://www.optionseducation.org/ Closing Thoughts: As we peel back the layers of options trading, it's clear that a solid grasp of the basics is foundational for success. Selling options introduces new dynamics and risks, but with the right knowledge and strategies, it can be a valuable part of your trading arsenal. Subscribe: Ensure you don't miss out on further insights into options trading and other day trading strategies by subscribing to the podcast. For a visual learning experience, check out the video version of this episode on the YouTube channel, where I'll break down these concepts with whiteboard examples. Stay tuned for our next episode, where we'll dive into the pricing of options, including intrinsic and extrinsic values, to further our understanding of options 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 episode 16 of the "Day Trading for Beginners Podcast." In today's episode, we review the definition of day trading and the critical role of trading psychology. Download my 6-Month Blueprint for becoming a full-time day trader: https://stokestrades.com/blueprint In this episode, we cover: Understanding Day Trading: An exploration of what day trading truly entails, beyond the simplistic notion of buying and selling financial instruments within a single day. We discuss the speculative nature of day trading, focusing on profiting from short-term price fluctuations through technical analysis, news events, and market sentiment. Personality Traits for Successful Day Trading: Highlighting key personality traits such as discipline, independence, and decisiveness that align well with the demands of day trading. Understanding that the right mindset and characteristics can significantly impact your trading success. The Importance of Trading Psychology: Why mindset and psychological preparedness are paramount in day trading. We look into the insights offered by one of the leading books on trading psychology, "Trading in the Zone" by Mark Douglas, focusing on the first chapter's discussion on the psychological aspects that set successful traders apart. Key Takeaways: - Day trading is not merely about technical skills. Emotional intelligence, discipline, and a keen understanding of one's psychological responses play a crucial role. - Successful day traders possess a unique set of attitudes, allowing them to remain disciplined, focused, and confident amidst the market's volatility. - Embracing and managing risk, rather than fearing it, is essential for achieving consistency and success in trading. Resources Mentioned: Trading in the Zone by Mark Douglas: A must-read for understanding the psychological foundations of successful trading. Available on Amazon as an audiobook and in other formats. Closing Thoughts: As we continue the journey into day trading, it's clear that mastering the market's technical aspects is just part of the equation. Cultivating the right mindset and overcoming psychological barriers are equally, if not more, important. Stay tuned for upcoming episodes where we'll cover options trading and further explore the mental fortitude required for day trading success. Read the full article and watch the video here: https://stokestrades.com/what-is-day-trading/ Subscribe: Don't miss out on future insights and strategies to aid your day trading journey. Subscribe to the podcast for more educational content, and check out the resources and community at StokesTrades.com for a supportive learning experience. 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 15 of the "Day Trading for Beginners Podcast." I'm Tyler Stokes from StokesTrades.com. In this episode, we're reviewing the various order types for buying and selling stocks, a crucial aspect of day trading. As we continue our journey to become full-time day traders, understanding how to effectively use order types is a basic task we need to master. Download my 6-month blueprint for becoming a full-time day trader: https://stokestrades.com/blueprint Watch the YouTube Video Here: https://youtu.be/o8swFxqEHGU In this episode, we explore: Market BasicsLiquidityOrder TypesMarket OrdersLimit OrdersStop OrdersAdvanced Order TypesVisual Learning Closing Thoughts: This episode offers a comprehensive overview of the various order types available to traders and how to use them strategically. Whether you're a beginner or looking to refine your trading technique, understanding these tools is crucial. Read the full article here: https://stokestrades.com/how-to-buy-and-sell-stocks/ Subscribe: Stay tuned and subscribe to the podcast for more insights into day trading. Check out the links for additional resources, including the YouTube channel for a visual guide on order types, and join our community at StokesTrades.com for a supportive learning experience. 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 14 of the "Day Trading for Beginners Podcast." I'm your host, Tyler Stokes, and today we're diving into a critical step for every aspiring day trader: choosing the right broker. Plus, I'll share the broker I've decided to use on my journey to becoming a full-time day trader. Don't forget to download the 6-month blueprint outlining all the steps I'm taking on this journey. Download it here: https://stokestrades.com/blueprint/ This blueprint also grants access to our free community on Skool, a space for beginners to connect, share insights, and keep each other accountable, with no sales pitches involved. In this episode, we explore: Choosing a Broker:Why Interactive Brokers?:Next Steps: Closing Thoughts: Choosing the right broker is a foundational step in your day trading journey. It's crucial to select a platform that aligns with your trading goals, offers comprehensive resources for learning, and doesn't eat into your profits with excessive fees. Full Article and Video: https://stokestrades.com/how-to-choose-a-broker-for-day-trading/ Subscribe: Stay tuned for our next episode, where I'll guide you through setting up an account with Interactive Brokers, navigating their platform, and embarking on the practical aspects of day trading. Subscribe to the podcast and our YouTube channel for video tutorials and more educational content. Join our community on Skool for access to exclusive lessons and updates. 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 13 of the "Day Trading for Beginners Podcast". As we navigate our journey to becoming full-time day traders, this episode offers a recap of our progress and starts a discussion of the crucial aspect of mindset. Download My 6-Month Blueprint: Get a detailed guide to the steps I'm taking in my first six months of day trading. Available at StokesTrades.com/blueprint In This Episode, We Cover: Journey RecapBrokerage AccountMindset MattersCommon FailuresProcess of Wealth CreationPersonal ReflectionsIdentifying as a Trader Closing Thoughts: Mindset is a cornerstone of successful day trading. Understanding and addressing common pitfalls, alongside personal weaknesses, can significantly influence your trading outcomes. As we continue to learn and grow, embracing the identity of a trader is crucial for long-term success. Subscribe: Stay tuned as we transition into actionable steps, starting with choosing your brokerage account in the next episode. Subscribe for more insights into day trading strategies and join our community on Skool for support and accountability on your journey. Resources Mentioned: StokesTrades.com/blueprintJoin us for support and accountability. Thanks for listening to episode 13. Remember, day trading is not just about strategies and market analysis. It's also about building a resilient mindset and shaping your identity to align with your trading goals. 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 12 where we talk about Forex trading. I'm your host, Tyler Stokes, and as we wrap up the first phase of our journey into day trading, we're exploring the basics of the Forex market—a market to consider for anyone looking to become a full-time day trader. Download my 6-month blueprint to kickstart your day trading journey: https://stokestrades.com/blueprint In this episode, we cover: Introduction to Forex Trading:Understanding Currency Pairs:Leverage in Forex Trading:Why Forex is Popular Among Beginners: Closing Thoughts: Forex trading offers an exciting opportunity for day traders to diversify their portfolio and engage in the world's largest financial market. While it comes with its own set of challenges, understanding the basics is the first step toward successful trading. Read and Watch the Video: https://stokestrades.com/forex-trading/ Subscribe: Don't miss out on the next phase of our day trading journey, where we'll recap our learning and take the next steps toward opening a brokerage account. Subscribe to the podcast for more insights into day trading strategies and visit StokesTrades.com for additional resources and support. 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 11 of the "Day Trading for Beginners Podcast." Today's episode is a beginner-friendly introduction to options trading. We're on a journey to become full-time day traders, and understanding options is a key part of this process. Download my 6-month blueprint for becoming a full-time day trader: https://stokestrades.com/blueprint In this episode, we cover: Introduction to OptionsTypes of OptionsKey Concepts in Options TradingIn the Money vs. Out of the Money OptionsExamples of Options TradingOptions Trading StrategiesCommunity and Resources Closing Thoughts: In this episode, we've laid out the basics of options trading, an essential concept for aspiring day traders. Remember, options trading can be complex, but starting with a solid understanding of the fundamentals is crucial. Check out the full article here: https://stokestrades.com/what-are-options/ Subscribe: Don't miss out on upcoming episodes where we'll talk more about options trading and other strategies. Subscribe to the podcast for more educational content, and be sure to check out the resources and community at StokesTrades.com for further support on your day trading journey. 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 10 of the "Day Trading For Beginners Podcast." Today we're going to talk about short selling. If you've ever been baffled by the concept of short selling a stock, this episode is tailor-made for you. We're on a journey to become a full-time day trader, and understanding short selling is crucial. Download my 6-month blueprint for becoming a full-time day trader: https://stokestrades.com/blueprint In this episode, we'll cover: What is Short Selling?Demystifying the ProcessRisks and BenefitsPractical Example with Nikola CorporationCommunity and Resources Closing Thoughts: I wrap up this episode by summarizing the key points about short selling, emphasizing its simplicity yet importance in the world of day trading. Understanding this concept is fundamental to exploring various trading strategies. Subscribe: Don't miss out on our upcoming episodes, including an introduction to options trading. Stay tuned and subscribe to the podcast for more educational content. Check out the links below for additional resources, including the YouTube channel for a visual guide on short selling, and join our community at StokesTrades.com for a free and welcoming learning experience. Read and watch the video of this episode here: https://stokestrades.com/short-selling/ 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 9 of the "Day Trading For Beginners Podcast." I'm Tyler Stokes from StokesTrades.com, and in this episode we are talking about futures in trading. It is very much a beginner friendly discussion with lots of examples. Download the 6 Month Blueprint I'm following as a beginner day trader: https://stokestrades.com/blueprint In this episode, we explore: What are Futures?Real-Life Examples of Futures Contracts:Hedging and Speculation:Differences Between Futures and Forward Contracts:Speculating in Futures Trading:The Impact of Various Factors on Commodity Prices:Future Plans: Closing Thoughts: I wrap up this episode by summarizing the key aspects of futures trading and their importance in day trading. It's essential to understand these basics as we continue to explore different trading strategies and tools. Watch the Video Episode: Watch the video and read the full article on StokesTrades.com here. Subscribe: Stay tuned and subscribe to the podcast for more educational episodes. Check out the links below for additional resources and updates on my progress, and be sure to follow me on my other social media channels for more insights into day 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 episode 8 of the "Day Trading For Beginners Podcast." I'm Tyler Stokes from StokesTrades.com, and in this episode, I'm excited to talk about the fascinating world of commodities. Join me on my journey to become a full-time day trader as we explore the essentials of commodity trading, perfect for beginners. Update: Download the 6 month blueprint I'm following as a beginner day trader: https://stokestrades.com/blueprint Key Topics Discussed: Introduction to Commodities: Real-Life Examples of Commodities: Trading Commodities: Categorizing Commodities: Preview of Future Episodes: Key Insights Recap: Closing Thoughts: I wrap up the episode by summarizing my newfound understanding of commodities and their importance in day trading. It's crucial to grasp these basics before diving into more actionable trading strategies. Subscribe: Stay tuned and subscribe to the podcast for more insights as I continue my journey from a beginner to a full-time day trader. Check out the links below for additional resources and updates on my progress. List of Commodities: https://stokestrades.com/what-are-commodities 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

In this episode we talk about Exchange-Traded Funds (ETFs), a crucial element for any aspiring day trader. As we continue studying the basics of the stock market, we explore the essence of ETFs, offering a beginner-friendly discussion supported by examples from the AI tool Grok. Update: Download the 6 month blueprint I'm following as a beginner day trader: https://stokestrades.com/blueprint What We Cover in This Episode: Introduction to ETFs:The Swiss Army Knife of Investing:Types of ETFs:Trading ETFs:Key Insights and Recap:Looking Ahead: Resources & Links: Grok AI toolRead the full article and watch the video podcast here. In this episode, we've unraveled the complexities of ETFs, providing a clear understanding for beginners. As I progress in my day trading journey, stay tuned for more episodes that break down the basics of the stock market, paving the way to becoming skilled day traders. 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

In this episode, we talk about the fundamental concepts of bonds, an essential component of financial markets often overshadowed by the more glamorous stocks. This session is crucial for aspiring day traders seeking to broaden their financial knowledge base. Update: Download the 6 month blueprint I'm following as a beginner day trader: https://stokestrades.com/blueprint Key Topics Explored: Understanding Bonds:Comparison Between Bonds and Stocks:Practical Example with EcoPower:Buying and Trading Bonds:Factors Influencing Bond Prices: Key Insights Recap: Coming Up Next: Stay tuned for upcoming episodes where we'll explore other aspects of trading, including commodities, futures, ETFs, and more foundational concepts in investing. Resources & Social Media Links: GROK AI tool for financial examples.Bond article on StokesTrades.comSubscribe and Join the Journey: Don’t miss out on our journey to becoming proficient day traders. Subscribe for more educational content and updates on our day trading adventure. 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