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/blueprint
In 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.

Send me some feedback!

Website and Other Social Accounts:

https://stokestrades.com/

https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:

https://www.skool.com/day-trading-for-beginners

Before diving into real action, I explore the common pitfalls and mistakes that beginners, including myself, should avoid in day trading. This episode is crucial for anyone at the starting line of their day trading path, offering insights into what not to do to ensure a smoother and more successful journey.
Update: Download the 6 month blueprint I'm following as a beginner day trader:
https://stokestrades.com/blueprint

Key Topics Discussed:

1. Common Day Trading Pitfalls:
   • The temptation and risks of real money trading too soon.
   • The importance of not skipping the basics of stock markets and trading principles.
2. Mistakes to Avoid:
   • Overcomplicating strategies.
   • Impulse trading based on emotions or hunches.
3. Typical Beginner Mistakes:
   • Lack of adequate education and preparation.
   • Overtrading and ignoring risk management.
   • Failure to adapt to changing market conditions.
   • Ignoring market trends and signals.
4. Strategies for Success:
   • Focusing on education and practice over immediate profits.
   • Emphasizing risk management and realistic expectations.
   • Learning from common pitfalls to build a strong trading foundation.

Personal Approach:

• My commitment to a cautious, well-informed approach, prioritizing learning and skill development over early profits.
• Plans to focus on paper trading and foundational knowledge in the initial stages.

Resources Mentioned:

1. Six-Month Blueprint Plan:
   • Discussed in previous episodes, outlining the initial steps in my day trading journey.

Closing Thoughts:

As we approach the practical phase of our journey, understanding what to avoid is as crucial as knowing what to do. This episode lays the groundwork for a disciplined and informed approach to day trading, setting us up for long-term success.

Subscribe: Stay tuned and subscribe to the podcast for updates on my day trading journey and practical insights.

Send me some feedback!

Website and Other Social Accounts:

https://stokestrades.com/

https://www.youtube.com/@StokesTrades
Join 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/blueprint
In 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/blueprint
• Community 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!

Send me some feedback!

Website and Other Social Accounts:

https://stokestrades.com/

https://www.youtube.com/@StokesTrades
Join 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/blueprint
Watch the YouTube Video Here:

https://youtu.be/o8swFxqEHGU

In 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.

Send me some feedback!

Website and Other Social Accounts:

https://stokestrades.com/

https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:

https://www.skool.com/day-trading-for-beginners

In this episode, we talk about the fundamental concepts of bonds, an essential component of financial markets often overshadowed by the more glamorous stocks.
This session is crucial for aspiring day traders seeking to broaden their financial knowledge base.
Update: Download the 6 month blueprint I'm following as a beginner day trader:
https://stokestrades.com/blueprint

Key Topics Explored:

1. Understanding Bonds:
   • Definition and basic concept of bonds as loans to large organizations like governments or corporations.
   • The mechanism of bonds, including interest payments, principal amount, and maturity date.
2. Comparison Between Bonds and Stocks:
   • Bonds as debt financing with fixed returns and lower risks.
   • Stocks as equity financing with variable returns and higher risks.
3. Practical Example with EcoPower:
   • A detailed example of investing in a bond, using the fictional company EcoPower.
   • Explanation of bond principles like principal amount, coupon rate, and maturity date.
4. Buying and Trading Bonds:
   • Guidance on purchasing and selling bonds through brokerage firms.
   • Insight into the liquidity of bonds and how to trade them before maturity.
5. Factors Influencing Bond Prices:
   • The impact of interest rates, inflation, credit risk, bond maturity, and economic conditions on bond prices.
   • Practical examples illustrating how these factors affect the market value of bonds.

Key Insights Recap:

• Bonds offer a less risky investment option with fixed returns, ideal for cautious investors.
• The distinct nature of bonds in financing and their legal enforceability.
• Insightful comparison between bonds and stocks to aid investment decision-making.
• Practical guidance on engaging in the bond market.

Coming Up Next:

Stay tuned for upcoming episodes where we'll explore other aspects of trading, including commodities, futures, ETFs, and more foundational concepts in investing.

Resources & Social Media Links:

• GROK AI tool for financial examples.
• Bond article on StokesTrades.com

Subscribe and Join the Journey:
Don’t miss out on our journey to becoming proficient day traders. Subscribe for more educational content and updates on our day trading adventure.

Send me some feedback!

Website and Other Social Accounts:

https://stokestrades.com/

https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:

https://www.skool.com/day-trading-for-beginners