One of the smartest things you can do as a trader is to learn how to manage your risk and make informed choices. Sometimes you see that perfect set up ... but then life gets in the way and the trade just doesn’t happen.
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You wanna day trade? Here’s a key lesson: learn to stay flexible. Learn to make smart decisions. Consistently.
But another big key is to learn to manage your risk. That means you don’t put yourself in that situation where you might take a huge, punishing loss. Big losses make it all to easy to blow up your account. Game over.
Sounds way too simple, right? That’s why you gotta practice. You gotta make a trading plan. Plot your entry and exit.
Now, a quick note on exiting trades ... If you know you won’t be able to exit the trade at your goal without risk, you should exit when you can. It may be for a number of reasons — you have plans, you’re traveling, or the trade just goes the wrong way.
Yep, it’s frustrating. But it’s a smart decision.
Let me give you an example. Say you have a trade with a great setup, but you're traveling. So many things can go wrong here. The Wi-Fi on planes can be sketchy. Your flight may be delayed. Too many things can get in the way of you sticking to your plan.
All that makes it hard to manage your risk. And when you’re day trading some of the most volatile stocks ... You gotta learn to manage your risk.
You win some, you lose some. You will lose — no trader has a perfect record. But you continue to grow and learn to make smarter trading decisions.
#StocksToTrade #StockMarket #RiskManagement
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
🔴 Subscribe for more free Stock Trading tips: YouTube.com/StocksToTrade
Share this video with a fellow Trader: https://youtu.be/NMGvXCjsw2k
✅ Links we mention and recommend:
Try StocksToTrade for $7: https://stockstotrade.com/14daytrial/
Get our FREE weekly watchlist here: https://stockstotrade.com/watchlist
Check out the SteadyTrade podcast: https://steadytrade.com
✅ Recommended video: https://youtu.be/KjlyS05WYBw
✅ Recommended playlists:
Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
Weekly Trading Recap Videos: https://www.youtube.com/watch?v=_n0XaDt1XFY&list=PLWWz2BSabm3b3-4DcEx98TzNPLAKcq6ES
✅ Follow StocksToTrade on social media:
Instagram: https://www.instagram.com/stockstotrade/
Facebook: https://www.facebook.com/StocksToTrade/
Twitter: https://twitter.com/StocksToTrade
You wanna day trade? Here’s a key lesson: learn to stay flexible. Learn to make smart decisions. Consistently.
But another big key is to learn to manage your risk. That means you don’t put yourself in that situation where you might take a huge, punishing loss. Big losses make it all to easy to blow up your account. Game over.
Sounds way too simple, right? That’s why you gotta practice. You gotta make a trading plan. Plot your entry and exit.
Now, a quick note on exiting trades ... If you know you won’t be able to exit the trade at your goal without risk, you should exit when you can. It may be for a number of reasons — you have plans, you’re traveling, or the trade just goes the wrong way.
Yep, it’s frustrating. But it’s a smart decision.
Let me give you an example. Say you have a trade with a great setup, but you're traveling. So many things can go wrong here. The Wi-Fi on planes can be sketchy. Your flight may be delayed. Too many things can get in the way of you sticking to your plan.
All that makes it hard to manage your risk. And when you’re day trading some of the most volatile stocks ... You gotta learn to manage your risk.
You win some, you lose some. You will lose — no trader has a perfect record. But you continue to grow and learn to make smarter trading decisions.
#StocksToTrade #StockMarket #RiskManagement
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
id like to see more
I had to exit a great trade today early with at .47 a share with $2000 gain, it ran within 3 hours to 1.20 a share. Basically I missed out on $15,000+ in addition profits because I had to manage risk and life got in the way. 🤦♂️ Still feeling good about a green day and sticking to my plan.
Great advice Tim. Thanks for sharing. Again, thanks for all you do.
Seck
Yes, sold some 900 shares of Canopy and a day later it shot up 7$ a share.
Thank you so much for this video!)
Yes I have and there's also been many times when I should have but I was trying to save a day trade and instead of getting out with profits and burning a day trade I took a loss. Only reason I didn't take it was to save the day trade. I don't do that anymore
Yep, the number 1 goal is to live to trade another day. For all we know, ARQL could have gotten some bad news and the stock could have started trending downward while you were on the plane. The market does what its going to do regardless of your plans, and you need to be ready for any scenario. Thanks for the vid Tim, always appreciated!
Have you ever had to exit a trade because you had to do something else?