All right today. we're going to be talking about the differences between swing trading and day trading and what I recommend most for new Traders So welcome back everyone! I Am lead trainer with stocks to trade Tim Bowen As always you know I Mentioned this a lot, but check out the Stage Rate team below it. Uh, you know these videos they're for YouTube Obviously, you gotta cater these videos to limited attention spans. No offense, you don't have a limited attention span. You're here with me, you know? But button? Yeah, it's YouTube Okay, you gotta keep it under 10 minutes. So I try and pack as much powerful, useful information in less than 10 minutes because I want people to actually get to the end of the video. Now if you're serious. Okay, you're committed. You don't have a short intentions Man, you will click the link below and join the Steady Trade Team. So lots of times I kind of give a kind of a 10 000 foot view overread of these Concepts To kind of get you interested and get you started, we talk about books, We talk about podcasts. We talk about other stuff in the archive that you can really learn for from. But once you look to take that next level, definitely check out the Steady Trade Team that's a twice a day mentorship program every single day, twice a day. two webinars I'm in chat every single morning 7 A.M Uh, you can ask questions starting at 7 A.M we could start going over trade plans Etc I'm accessible by email you can text me I Mean it's just a great way to get every single one of those questions answered. more in depth than a YouTube video. Okay, so what do I recommend for day trading versus swing trading And what's the pros and cons? Now one thing I do as much as I am biased towards day trading as much as I love day trading especially if you're and this might sound a little funny, but if you're a little bit older okay, um, if it which which it's not a bad thing. Listen I'm an old guy. look at this gray hair. but as you get older, you get more risk-averse Okay, and I think a lot of people two things is, especially if you're younger, you know you're one of those Gunslingers you get too aggressive too early, you just dive in, you see some 500. Runner you throw your entire account at it and then things go bad and you're like whoa, why do things go bad then vice versa. If you're older and you're more risk-averse a lot of people stay away from day trading, you know. Warren Buffett Famously said, don't day trade Yeah, yeah. Warren yeah. Meanwhile, Warren's got billions and he day trades anyway. it's like he acts like oh, grandfather, you know. Anyway, don't get me started on Warren and his duplicitous nature. Anyway, is people do and this is a very risk-averse strategy and it's a very safe strategy. But remember, ninety percent fail at trading. Why do 90 fail? Just too aggressive too soon? Okay, it's not that it's it's not that you're set up to fail. It's not that the Market's rigged. It's not. You know people say, oh, it's rigged. Yeah, it's rigged if you don't know what you're doing. okay. listen if I've never played baseball before and I go up to bat and they call a strike I'm like, well, it's rigged I don't even know what it and then I somehow hit the ball and run to Third Base Oh, it's rigged I got to the base. Well no, you don't know what you're doing. it's not rigged. it's just you don't know what you're doing. So you got to build these skills over time. And biggest thing is, don't blow up in that time. Okay, now that's why I Recommend swing trading with real money in the beginning Now Caveat: asterisk up here somewhere if I knew how to edit video I could do that. Maybe maybe they'll do that in post and anyway asterisk. you know when we're Trading before move post Ukraine Okay, this has been my number one swing trade. going back to the breakout right here post: Ukraine 78 bucks just grinds grinds higher I mean all this thing does go higher higher higher Occidental Petroleum Okay, Oil and Gas real companies, Very safe. Um so you can still make real money, but they don't make the crazy wild moves to panic. Okay, now you're also gonna say well Tim it went from 78 to 113. How am I going to make real money? Well this is the deal. What I want you to do is learn your skills, build your foundation. Swing trading Real stocks, Story stocks, earnings winners Etc Because they can still move 20 30 percent, they can still pad your account and then we're gonna paper Trade Day trade Crazy runners. Okay paper trade. and and this is just initial and I know probably like half of you close this video right now because people hate paper trading like they they hate it more than and not more than anything but like it's just and I don't get it Well I Do get it. I get because it's like you're not making money if you're paper trading but it just look at the fact that so many people blow up in a matter of months. Okay I don't know if there's stats out there, you could probably Google it. but when you talk about the 90 fail in my opinion. the interactions that I've had with Traders over the last 15 years whether it be online, whether it be mentoring a massive massive percentage of those blow up like first 90 days. Okay, it's like you know how they say like with a business. If you can make it to like if you start a business and you make it to like I think it's five or six years, you've got like a 90 chance of success. You make it to 10 years with a business. it's like success is guaranteed. You might not be a billionaire but businesses are a lot the same. You know if you if you got to get so much right in the beginning failure rates really high in the building. been it if you beginning if you can stick around a few years, your ads to success are so much higher. So that's why. I like the safer trades, get your feet wet. Okay, get your little money. I mean again, you're growing your small account slowly. Again, if you got you know 100 shares of Exxon Mobil Okay, six months later you're up 300 bucks. Okay, it's not gonna change your life. get your feet wet, pad your account and then keep you in the markets too because that's what I see happen when people day trade too aggressively. they take a bunch of lose big losses, they get frustrated and then they leave. Okay and maybe that's you. Actually give me a comment below is that you have you left for months. Come back come leave for months, come back I see that a lot you so you know Joe Smith we all hot and heavy tagging me on Twitter like crazy all sudden Joe Smith disappears four months later Joe Smith's back and say hey where you been well I took big losses I had to build up my account I got frustrated I quit I came back. So if you stay in the game and you swing those trades, it keeps you interested. It keeps you locked in. So now you're checking your account every day. Now you're running scans every day because you got skin in the game. Then you're not taking those big losses because you're trading the wild movers with the paper trading account. Then once that paper trading account starts growing consistently, then you start day trading. Okay, and the great thing about that is you don't need to worry about the pattern day trader rule. Okay, swing trading again is mostly at least one day overnight. typically multiple days, even multiple weeks overnight. And uh, you know again, these real stocks they not that it can never happen. Remember the asterisk. Okay, yes, Exxon Mobil could gap down 20 tomorrow. Odds of it's Exxon Mobils probably never gap down 20 in its 100 Year history. Okay, odds are much lower. Okay, so yes, it takes longer, but it keeps the skin in the game, keeps you interested, keeps you building your skills. and again, my friends. I'm telling you if you can get past that 90-day Mark um I just truly truly and I don't have data to back this up if you got a link I Gotta believe it's out there I almost think I've read this I think I'm remembering it because I read it somewhere through the years. But if you can just stay in the game, stay interested. stay building, stay showing up every day every single day. Whether you're trading or not, you're building those skills you're learning and you're growing and you can build over time now. The best way to do that and the best way to stay engaged. Like I said in the beginning, get in the State Trade Team! I'm there every day I Started the mentorship program in 2015 I have not missed a single day Zero Okay, zero I haven't called in sick once in seven years mentoring new Traders I had coveted twice I still showed up the people. A lot of people got sick of the webinars because all I did was cough for 45 minutes but I made it through I still showed up. That's how committed I am. If you're committed, check out the Steady Trade team. Would love to work with you.