TOP 5 Day Trading Beginner Mistakes to AVOID
Humbled Trader Humbled Trader
401K subscribers
773,524 views
57K 805

 Published On Apr 15, 2020

Get my FREE Trading Journal + Weekly Stock Picks🎁
https://bit.ly/2WIm5rJ
🔽Time stamps:
1:37 Not planning your trades
4:08 Focus on trading PNL, not trading the charts
7:30 Not spending enough time paper trading
9:39 Scaling up trading size too quickly
11:32 Following chat room alerts to buy or sell stocks

Trade with me
https://humbledtrader.com/discord-room
Get my daily Stock Picks
https://humbledtrader.com/watchlist

Are you a beginner day trader and making these COSTLY mistakes?
1. Not having a trading plan:
Many beginners jump into hot stock due to FOMO without knowing why they were buying, why the stock was running, nor their risk reward and exit plan. This is also known as chasing and will easily lead the trader to buying the VERY TOP.

2. Over Trading, which leads to Revenge Trading:
Instead of trading according to their plans and the chart in front of them, many traders are trading their PnL (profit and loss). This will lead to over trading, then emotional trading, and finally revenge trading. I have blown up my trading account this way before due to emotional trading.

3. Not Paper Trading:
Paper trading is basically risk free market screen time. Day trading beginners need to learn broker interface, how each stock reacts, and practice your technical analysis on LIVE charts. Paper trading will allow you to gain market screen time and prepare your mind emotionally for the ups and downs of stock trading.

4. Scaling up share size too quickly:
When I started making $100 a day, I was so excited. So much so I wanted to jump into making $1000. I quickly learned that sizing up x10 means escalating the emotions as well. Psychologically, I was not ready for x10 the stress. It's very important to take your time when sizing up.

5. Following chat room alerts!
You want to become a profitable day trader? Stop following others.
This is perhaps the DEADLIEST trading mistake I see beginners do. Many of these trading chat rooms pump the stock up and dump the shares on unsuspecting beginner traders.

🖥️Recommended Trading Tools:
Benzinga Pro FREE 14 day trial (use code "HUMBLEDTRADER" to get 25% Off )
http://bit.ly/2KXeAqH
Trade Ideas Scanner (use code "HUMBLED15" to get 15% Off)
https://lddy.no/m523

DAS Trader FREE 14 Day Trial (Trading Simulator & Broker Platform)
https://bit.ly/2Z4CdW0

Cobra Trading (Best broker for shorting stocks, $30K min)
Get 25% off commissions, mention "Humbled Trader" at the time of account opening
https://bit.ly/3iNLqJq

Interactive Brokers: https://bit.ly/2xNpQ5o
Interactive Brokers Canada: https://bit.ly/2SOIcu6

🇨🇦Questrade Canada (get $50 FREE commission trades)
http://bit.ly/2GoeUMY
Webull Free Trading app (Get free stocks with $100 deposit)
http://bit.ly/2Lhtd9X

Get My Trading Station Set Up & Favorite Trading Books
https://www.amazon.com/shop/humbledtrader

For business inquiries ONLY, you can reach me at HumbledTraderBusiness(at)gmail.com

📊Follow me on social for more updates:
IG @HumbledTrader
Twitter @HumbledTrader18
#daytrading #pennystocks #stocks
___
DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and use myself. Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing this channel.

Humbled Trader FAM count: 163,400

show more

Share/Embed

Loading...