Welcome to a special bonus episode of the "Day Trading for Beginners" podcast. Today, we address a vital question from our community regarding the perceived high failure rate in day trading and whether it should deter aspiring traders.Join Our Community Here: https://www.skool.com/day-trading-for-beginnersYouTube Video: David Goggins: How to Build Immense Inner StrengthKey Takeaways:Day trading, like any high-skill profession, requires dedicated learning and practice.The perceived high failure rate should not deter motivated individuals who are prepared to invest in their education and manage risks effectively.Engaging with a supportive community can enhance learning and increase chances of success.Conclusion: While day trading presents significant challenges, understanding and navigating these with the right tools and community support can lead to rewarding outcomes. This episode demystifies the journey and encourages traders to pursue their passion with informed strategies and support.Website and Other Social Accounts:https://stokestrades.com/https://www.youtube.com/@StokesTradesJoin Our Free Community on SKOOL:https://www.skool.com/day-trading-for-beginners

Welcome to episode 28 of the "Day Trading for Beginners" podcast. Today, we explore the concept of chart patterns, focusing on one of the most reliable patterns known as the head and shoulders pattern. This episode will serve as an introduction to chart patterns, providing insights into their formation and implications.Download the 6 Month Blueprint: https://stokestrades.com/blueprint Textbook Recommendation: Technical Analysis of the Financial MarketsWhat You Will Learn:Introduction to chart patterns, particularly the head and shoulders pattern.Understanding the reliability and implications of recognizing such patterns.Resources for further learning and visualization of chart patterns.Key Topics Discussed:Overview of Chart Patterns:Definition and importance of chart patterns in technical analysis.Introduction to the head and shoulders pattern as a key reversal pattern.Head and Shoulders Pattern:Detailed explanation of the head and shoulders pattern formation.Understanding the components: left shoulder, head, right shoulder, and neckline.Implications of the pattern on trading and market trends.Resources for Further Learning:Recommendation of the textbook "Technical Analysis of the Financial Markets" for deeper insights.Encouragement to check visual resources on YouTube and other platforms for better understanding.Check out the full article here: https://stokestrades.com/chart-patterns-and-reversalsConclusion: Chart patterns like the head and shoulders provide significant insights into market trends and potential reversals. Understanding these patterns can enhance your trading strategies and decision-making process.Website and Other Social Accounts:https://stokestrades.com/https://www.youtube.com/@StokesTradesJoin Our Free Community on SKOOL:https://www.skool.com/day-trading-for-beginners

Welcome to episode 27 of the "Day Trading for Beginners" podcast. Today, we discuss volume analysis, an essential aspect of trading that goes hand-in-hand with price movements. After discussing technical indicators in our last episode, today's focus shifts to understanding volume and its implications on trading, specifically through the volume weighted average price (VWAP).Download the 6 Month Blueprint: https://stokestrades.com/blueprintWatch the Video Here: https://youtu.be/FGzRClvw-30Sign Up for TradingView Here: https://tradingview.comWhat You Will Learn:Basics of volume in trading.Detailed exploration of the Volume Weighted Average Price (VWAP) indicator.How volume can influence trading decisions.Key Topics Discussed:Introduction to Volume Analysis:Understanding the role of volume in trading.The significance of volume in assessing market trends and reversals.Volume Weighted Average Price (VWAP):Explanation of VWAP and its calculation.Practical applications and how it differs from other volume indicators.Implications of Volume in Trading:How volume can confirm trends or signal potential reversals.Divergence between volume and price movements and what it indicates.Recommended Resources:Visit our YouTube channel for visual explanations of volume analysis and indicators.Download the 6 Month Blueprint from StokesTrades.com/blueprint for a comprehensive guide and additional resources used in my trading journey.Full article with table and images: https://stokestrades.com/volume-analysisConclusion: Understanding volume alongside price action is crucial for making informed trading decisions. Volume analysis, particularly through indicators like VWAP, provides deeper insights into market dynamics and helps traders gauge the strength and potential sustainability of price movements.Website and Other Social Accounts:https://stokestrades.com/https://www.youtube.com/@StokesTradesJoin Our Free Community on SKOOL:https://www.skool.com/day-trading-for-beginners

Welcome to episode 26 of the "Day Trading for Beginners" podcast. In this episode, we talk about the basics of technical indicators and oscillators, essential tools for anyone interested in technical analysis. We'll focus on 3 popular indicators: Moving Averages, the Relative Strength Index (RSI), and the Moving Average Convergence Divergence (MACD).Download the 6 Month Blueprint: https://stokestrades.com/blueprintWatch the video on YouTube: https://youtu.be/PhzO7iTBoMsSign up for TradingView: https://tradingview.comWhat You Will Learn:What technical indicators and oscillators are and how they aid in trading decisions.A brief look at Moving Averages, RSI, and MACD.Key Topics Discussed:Technical Indicators and Oscillators:Definition and importance in day trading.Explanation of how indicators and oscillators assist in analyzing past and current price actions to predict future movements.Moving Averages:Overview of simple and exponential moving averages.How they smooth price data to show trend directions.Usage in identifying trends and potential support and resistance levels.Relative Strength Index (RSI):Introduction to RSI as an oscillator.How it measures the speed and changes in price movements.Interpreting overbought and oversold conditions through RSI values.Moving Average Convergence Divergence (MACD):Exploration of MACD's components: the MACD line, signal line, and histogram.How MACD indicates changes in stock price momentum and direction.Practical tips on using MACD for spotting buy and sell signals.Recommendations for Further Learning:Subscribe to the YouTube channel for detailed visual guides and examples on using these technical indicators.Join our community on Skool where all content is structured in course format, alongside podcasts and videos for an integrated learning experience.Download the 6 Month Blueprint from https://stokestrades.com/blueprint to follow a structured path through technical analysis and day trading.Understanding and utilizing technical indicators and oscillators is crucial for making informed trading decisions. While this podcast provides an introduction, further study and visual learning through videos will enhance your ability to effectively use these tools.Website and Other Social Accounts:https://stokestrades.com/https://www.youtube.com/@StokesTradesJoin Our Free Community on SKOOL:https://www.skool.com/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/blueprintIn This Episode:Introduction to Support and Resistance: Learn what these terms mean and why they're critical for successful trading.Practical Insights: Discover how to identify support and resistance levels and use them to make informed trading decisions.Key Points Covered:What are Support and Resistance? These are levels on a stock chart where prices tend to stop and reverse, acting as barriers that prevent the price of an asset from getting pushed in a certain direction.Psychology Behind the Levels: Understanding the market psychology that creates and sustains these levels.Practical Trading Strategies: How to use support and resistance to forecast potential price movements and plan your trades.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/@StokesTradesJoin 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/blueprintRelated Videos on YouTube:Candlestick Charts Video: Watch now.Trends and Trendlines Video: Watch now.In This Episode:Candlestick Charts: Understanding the anatomy of candlesticks and their significance in technical analysis.Trends and Trendlines: Learning how to identify and draw trendlines to analyze stock movements.Key Points:The Importance of Candlestick Charts: Candlestick charts are a crucial tool for day traders, providing detailed insights into market sentiment and price action.Drawing Trendlines: How to accurately draw trendlines to identify uptrends, downtrends, and sideways trends.Horizontal Lines: Using horizontal lines to identify static price points that signify support and resistance levels.Additional Resources:Book Recommendation: Technical Analysis of the Financial Markets(This is an Amazon affiliate link)Full article here: https://stokestrades.com/trends-and-trendlinesJoin 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/@StokesTradesJoin 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/blueprintIn This Episode:Technical Analysis vs. Fundamental Analysis: Understanding the differences and why technical analysis is crucial for day traders.Introduction to Price Action: Exploring the concept of price action and its significance in predicting market movements.Setting Expectations: Preparing for the intensive study required to grasp technical analysis and its applications in trading.Key Points:Understanding Technical Analysis: Discover what it is and the main components we will be studying in the future. The Importance of Price Movements: Learning to focus on price action rather than getting bogged down by the overwhelming amount of market data.Additional Resources:Book Recommendation: Technical Analysis of the Financial Markets (This is an Amazon affiliate link)6-Month Blueprint: Check out the detailed plan for becoming a full-time day trader in the show notes or at StokesTrades.com/blueprint.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.Read the full article here: https://stokestrades.com/technical-analysis-vs-fundamental-analysisWatch on YouTube:https://youtu.be/xJHKxfEMw2YSubscribe 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/@StokesTradesJoin 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/blueprintIn This Episode:Options Trading Recap: Revisiting key concepts covered over the past month, including the basics of options like call and put options, strike prices, premiums, and the significance of expiration dates.Reviewing Option Prices: We talk about intrinsic and extrinsic values when it comes to pricing options.Understanding the Greeks and Spreads: A simplified explanation of options pricing dynamics such as Delta, Gamma, Theta, Vega, and Rho, and how they impact trading decisions, as well as a simple example of an option spread. 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: Available at StokesTrades.com/blueprintFree Community on Skool: Check out the full options course in our Skool community. It's 100% free. 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/@StokesTradesJoin 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/blueprintWatch the video on YouTube: https://youtu.be/RBbbGrZiv8gAccess the full article: https://stokestrades.com/option-spreadsIn This Episode:Introduction to Option Spreads: We break down what option spreads are and how they work. This episode is designed to help beginners understand the structure and utility of spreads in trading options, without diving deep into complex strategies.Types of Spreads Explained: We cover the three main types of spreads—vertical, horizontal (calendar), and diagonal—using easy-to-understand examples. Each type is explained in detail to ensure clarity on how they differ based on strike prices and expiration dates.Debit and Credit Spreads: Learn the difference between debit and credit spreads and how they impact your trading account. This part of the discussion aims to clarify common confusions related to these terms, especially for those with a background in finance or accounting.Practical Examples: We will walk through hypothetical scenarios to illustrate how vertical spreads work compared to buying options outright or purchasing stocks directly. These examples highlight the risk management and cost efficiency of using spreads.Resources:Access the "6 Month Blueprint" I've been following, detailing my journey towards becoming a full-time day trader: StokesTrades.com/blueprintJoin our growing community on Skool for free, a platform for learning and sharing about options and day trading. No courses for sale, just a supportive environment to grow as a trader. Hit the Community tab on the website. 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/@StokesTradesJoin 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/blueprintThis Episode Covers:Introduction to Option Greeks: We break down the concept of Greeks in an easy-to-understand manner, avoiding complex strategies or deep dives into individual Greeks. This episode continues our learning curve on options, setting the stage for future discussions on practical applications within your brokerage account.The Greeks Simplified: Using analogies, such as comparing the Greeks to flight instruments, we illustrate how they guide traders in navigating the options market. The Greeks—Delta, Gamma, Theta, Vega, and Rho—serve as tools for assessing risk and predicting price movements, similar to how a pilot uses altitude, speed, and fuel gauges.Delta and Gamma: Learn how Delta acts like a speedometer, showing how fast an option's price might change with the underlying stock, while Gamma indicates the acceleration of Delta itself.Theta, Vega, and Rho: Understand how Theta measures time decay, Vega shows sensitivity to market volatility, and Rho relates to interest rate changes.Watch the video on YouTube: https://youtu.be/NmzESzIGvlARead the full article here:https://stokestrades.com/option-greeks/Next Steps:As we wrap up our series on options, stay tuned for a practical guide on locating and trading options within your brokerage account. This upcoming content, including YouTube videos, will demystify the process of using Greeks for real-world trading decisions.Technical Analysis Ahead: After concluding our discussion on options, we'll venture into technical analysis, marking the next phase of our day trading education.Resources and Community:Chat GPT and Learning Tools: Discover how leveraging AI like Chat GPT, along with finance blogs and YouTube channels, can enhance your understanding of complex topics such as option Greeks.Join Our Community: For more resources and a supportive learning environment, visit our website and join the free community on Skool. Here, you can access all podcasts, videos, and a dedicated section for the resources I've used to learn about options.Website and Other Social Accounts:https://stokestrades.com/https://www.youtube.com/@StokesTradesJoin 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/blueprintThis 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 TradingIn 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 StandOver the past three months, we've covered a wide range of topics:Basics of stocks, bonds, ETFs, futures, Forex and optionsChoosing a brokerage account and setting up for paper tradingUnderstanding different types of stock market ordersAn introduction into options tradingLooking 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 ConsistentThe 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 CommunityFor 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 ForwardNext 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/@StokesTradesJoin 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/blueprintWhat We Cover Today:Option Prices: Why do you pay what you do for options, whether buying puts or calls?In the Money, At the Money, Out of the Money: Simple explanations to help you understand these key concepts.Intrinsic and Extrinsic Values: Breaking down the two main parts that make up an option's price and why it's important.Time and Volatility's Role: How the time left until an option's expiration and the implied volatility affect its extrinsic value.Implied Volatility: How the market's guess about a stock's future movement can change the price of options.Learning Tools: Sharing useful resources and platforms, including a free community platform and an options course module filled with my go-to resources.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/@StokesTradesJoin 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/blueprintWatch the video version here: https://stokestrades.com/selling-options/In this episode, we talk about:Selling Options: Building on our initial discussion on options, we now examine selling call and put options. We clarify the concepts of being "covered" versus "naked" in option selling and the implications of each.Understanding Assignment: A crucial aspect of selling options, we explain what it means to be "assigned" and the responsibilities it entails for the seller.Risks and Strategies:Covered Calls: How owning the underlying stock can provide a safety net when selling call options.Naked Calls: The higher risk associated with selling call options without owning the underlying stock.Cash-Secured Puts: The benefits and precautions of selling put options when you're prepared to buy the stock at the strike price.Closing Out Positions: An essential strategy for both buyers and sellers to manage risk and secure profits. We discuss how to "buy to close" your positions and the strategic advantages of doing so.Key Takeaways:Selling options can be a strategic way to generate income, but it comes with obligations that traders must understand.The difference between "covered" and "naked" positions significantly impacts the risk profile of selling options.Understanding assignment and how to manage your positions through closing strategies is crucial for minimizing risk and maximizing returns.Resources Mentioned:Educational websites and YouTube channels for learning about options trading is ideal for this phase of the journey. I emphasize the value of free resources for beginners to grasp the fundamentals without the need for expensive courses.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/@StokesTradesJoin 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/blueprintIn 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/@StokesTradesJoin 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/blueprintWatch the YouTube Video Here:https://youtu.be/o8swFxqEHGUIn this episode, we explore:Market Basics: An introduction to bid price, ask price, and the spread. Understanding these concepts is essential for navigating the stock market.Liquidity: Discussing the importance of liquidity in stocks and how it affects the spread and your ability to execute orders effectively.Order Types: A detailed guide to using different order types, including market orders, limit orders, stop orders, and more advanced options like trailing stops and bracket orders.Market Orders: How they work, when to use them, and the implications of using market orders for liquid and illiquid stocks.Limit Orders: Explaining buy limit and sell limit orders, including how to set them and the conditions under which they are executed.Stop Orders: Understanding buy stop and sell stop orders (stop loss) and how they can protect your investments or lock in profits.Advanced Order Types: Diving into stop limit orders, trailing stop orders, and bracket orders, providing strategies for using these orders to manage risk and secure profits.Visual Learning: Highlighting the importance of visual aids in understanding order types. A video version of this episode is available on the StokesTrades YouTube channel, featuring whiteboard presentations and live examples from my paper trading account.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/@StokesTradesJoin 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: The importance of selecting the right broker as your gateway to the markets. I'll cover the essential features to look for, including the ability to paper trade with real-time data, desktop platform availability, market access, and fee structures.Why Interactive Brokers?: I reveal my choice of broker and explain why Interactive Brokers stands out, particularly for Canadian traders like myself. I'll quickly discuss their competitive fees, broad market access, and the pros and cons of their platform.Next Steps: An overview of the upcoming tutorials and video demonstrations on setting up and using Interactive Brokers, ensuring you're well-prepared for paper trading and beyond.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/@StokesTradesJoin 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/blueprintIn This Episode, We Cover:Journey Recap: A review of our journey so far, from stock market basics to exploring various trading domains like stocks, bonds, ETFs, commodities, futures, short selling, options, and Forex.Brokerage Account: A teaser for the next episode, where we will discuss everything about choosing your brokerage account, a crucial step in actualizing your day trading aspirations.Mindset Matters: Discussing the significance of having the right mindset for day trading, emphasizing discipline, minimizing losses, and the importance of a strong psychological foundation.Common Failures: Exploring why many fail in day trading and how mindset plays a pivotal role in overcoming these challenges.Process of Wealth Creation: Introducing the five stages of wealth creation, from uninformed optimism to achievement, and the importance of perseverance through the "Valley of Despair."Personal Reflections: Sharing personal insights into my own weaknesses and how I'm addressing them to strengthen my day trading journey.Identifying as a Trader: The power of shaping your identity around your goals and how identifying as a trader can help solidify your commitment and discipline.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:6-Month Blueprint: StokesTrades.com/blueprintCommunity on Skool: Join us for support and accountability.Next Episode: Detailed guide on choosing and setting up your brokerage account.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/@StokesTradesJoin 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/blueprintIn this episode, we cover:Introduction to Forex Trading: We start with a beginner-friendly explanation of what the Forex market is and how it operates, using a fun analogy provided by the AI tool Grok. Understanding Currency Pairs: Learn about the basics of currency pairs, including the base and quote currencies. We discuss how traders make money by predicting the movement of these pairs and how leverage can both amplify profits and losses.Leverage in Forex Trading: A key concept in Forex trading, leverage allows traders to control large positions with a relatively small amount of capital. We explore the potential benefits and risks associated with using leverage.Why Forex is Popular Among Beginners: Discover why the Forex market is attractive to beginner day traders, including low entry barriers, the flexibility of a 24-hour market, and the high liquidity that reduces the cost of trading.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/@StokesTradesJoin 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/blueprintIn this episode, we cover:Introduction to Options: Understanding what options are and how they function as contracts in the stock market.Types of Options: Exploring call and put options and how they differ in terms of buying and selling stocks.Key Concepts in Options Trading: Discussing strike price, expiration date, premium, intrinsic value, and time value.In the Money vs. Out of the Money Options: Explaining what these terms mean and how they relate to options trading strategies.Examples of Options Trading: Walking through real-life scenarios of buying call and put options, including potential profits and risks.Options Trading Strategies: Discussing how day traders can use options for speculation and the strategy of selling options before they expire.Community and Resources: Learn about our online community on the Skool platform, a supportive environment for beginners in day trading.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/@StokesTradesJoin 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/blueprintIn this episode, we'll cover:What is Short Selling?: A beginner-friendly guide to understanding the concept of short selling in the stock market.Demystifying the Process: How short selling works behind the scenes at your brokerage, including borrowing shares and the seamless electronic process.Risks and Benefits: Discussing the inherent risks of short selling, such as price fluctuations, and the benefits for both traders and brokerage firms.Practical Example with Nikola Corporation: A real-life scenario illustrating short selling using the case of Nikola Corporation, explaining the numbers and potential profits.Community and Resources: Introducing our online community on Skool, a great resource for beginners looking for accountability partners and a supportive learning environment.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/@StokesTradesJoin Our Free Community on SKOOL:https://www.skool.com/day-trading-for-beginners