This article is going to discuss how to use our day trading videos. While it is nothing new, lately I seem to be getting many more comments and/or questions about our daily day trading videos. People always want to see live trades, and if you show most new or non profitable traders anything but a live winning trade, they will pick your work apart and throw you to the vultures claiming you are a charlatan! You see, trading is really not that hard, and the more you can simplify it, the easier it really is to make money. However, because profitability evades most people that try to break into the day trading business, most of these traders also assume that there must be some special hidden knowledge that is needed, or else they feel like everyone must lose money when day trading. I can assure you that everyone does not lose money at day trading, and I have first hand knowledge of this fact. However, I can affirm that probably somewhere around 10% of all traders earn their money at day trading from the other 90% of traders that actually lose money when day trading.
In order to become one of the 10% of day traders that actually make money in the markets, you must first put in your time, effort and studies. Day trading is no different than any other high paying professional job such as a lawyer, doctor or even a professional athlete. Think about how much time a really good lawyer spends at becoming good at what they do. They first need an undergraduate degree from an accredited college or university, but then they also have to spend a few years in law school in order to get a law degree. Even then, they can’t practice law until they can pass a state bar exam proving that they have the minimum knowledge to practice law. Still yet, they have to hone their skills and win cases before they can ultimately gain the skills and experience necessary to become a high paid trial lawyer. If they stick with the program for enough years, getting the training and experience necessary, eventually they will be rewarded financially in most cases. Day trading is no different, as you must spend the time to become educated and then you need lots of experience doing it in real time. Very few if any traders can step right in and start making a living as a day trader. It just doesn’t happen quickly because it is a very specialized skill that must be honed through education and real life experience.
You should now understand what it really takes to make it as a day trader, and hopefully you realize that you will be spending quite a long time studying charts, prices and patterns. Unfortunately, many that are willing and that actually do put in this time don’t actually study the proper things. They read a few books or take some day trading course by the latest and greatest trading guru thinking that they are doing the right thing only to find out they still can’t trade or even understand what prices are doing. This is not because the prospective students don’t study, but mostly because they are learning the wrong things or the teacher can’t teach very well. If you are truly learning the proper things as a day trader, you will slowly start to begin to understand what prices are doing as they print to a chart, and you will also start to have a good understanding of what prices are going to do next as they print to a chart in real time. This is nothing more than the ability to understand prices and to be able to read a price chart in real time, and it’s the very same thing as price action trading.
Hopefully you are beginning to grasp that the key to learning to day trade revolves around study and experience, and that’s where our daily day trading videos now come into play. Your day should begin with you trading on a simulator, and not really having too much concern as to whether you actually make money or not. Your main goal is to watch prices and get experience seeing them print to a chart in real time, while also trying to take profitable trades. Again, while the goal is to try and be profitable, you don’t need to be too concerned at this point as to whether or not you actually make money. Just take the trades as you see them and let the chips fall where they may. At the end of the day, go back and review your trades and learn form them. Try and figure out what you did wrong and correct it, but most importantly, try and figure out why the winning trades were winners, and then do more of what you did right.
Once that review step is complete, you can then go watch our daily trading video and compare your work to our work. Listen closely as I describe each trade so that you can understand the reasoning behind the entry. Our videos are not to show you how we take winning trades or losing trades, although we will try and show you both on occasion. The purpose of the videos is to show you the best trade set ups for that day and explain why so that you can see why you missed them or maybe even why your winning trade was a great set up and actually was profitable. If you do this long enough, eventually you will get to the point where you can simply glance at a chart and quickly see exactly where you should have entered while also understanding why prices did what they did. Once you can learn to see the set ups after the fact, just keep studying and trading for experience on the simulator! What you will find is that slowly but surely, you will begin to see the trades set up in real time just as easily as after the fact. It might only be a trade or two in the beginning, but eventually, as you gain more “on the job training” or actual “chart time experience,” you will begin to see even more and get better. If you think about these steps in relation to my description of becoming a successful lawyer, it should make perfect sense to you as to what we are trying to accomplish.
Now that you know why we create the videos and you also know how to use our day trading videos, the rest is up to you. Get started with your education and experience and get on the road to earning your living as a day trader. No matter whether you use our information or some other traders or teachers trading materials, make sure that the strategy you are learning is based on the ability to read a price chart, which is what we call price action trading, because without those chart reading skills, you can not make money consistently on a long term basis. Everything you need to know is right on the chart and printing in real time, so no need for any indicators or special trading tools to day trade profitably. All that is needed is the skill to read and understand the charts. If you would like to learn how to read a price chart in real time, then you have come to the right place. You can learn more about our price action trading videos at http://priceactiontradingsystem.com/pats-price-action-trading-manual.