0:00

Hi and welcome to the to the

0:02

Day Trading for This is season

0:04

two This is season 2, episode and this

0:06

is going to be the season

0:08

finale finale episode. we're going to talk about

0:10

here is the year here is the So

0:12

I'm going to discuss some of

0:14

the lessons that I've learned. that

0:16

throughout this first year

0:18

of this trading. trading journey. So

0:21

again, my name is my name is

0:23

Tyler Stokes from Stokes .com. I started

0:25

a journey in the beginning of

0:27

2024, of trying to become

0:29

a full -time day trader. learned a I've

0:31

learned a lot over this first year.

0:33

I want to kind of reflect

0:35

back on what we've learned, some things

0:37

that were more important than others,

0:39

and then talk a little bit about

0:42

what my plan is for bit about what

0:44

my plan is for 2025. So first of

0:46

all, we have created some resources. so

0:48

there there is a six month

0:50

blueprint, you can download that below

0:52

for free. And if you are

0:54

just starting your own journey, that

0:56

is a your own journey is a real

0:58

good roadmap for you to potentially

1:00

jump on on and just find out a

1:02

out a good sequence of what

1:04

to do in your first six months.

1:06

of six months. you start with

1:08

the basics, set up your up your brokerage

1:10

account, learn some technical analysis, then venture

1:12

on into finding a on into finding a

1:14

strategy. month blueprint again is again, is below.

1:16

You can download it. You can

1:19

go to go to .com forward slash blueprint

1:21

and you can download that for free.

1:23

Now, we also have a free

1:25

community on the platform called School. So

1:27

we've got almost a a members right

1:29

now. More people are starting to to

1:32

post, having more having more discussions, people

1:34

are finding accountability also also just being

1:36

accountable to the group. We're going to

1:38

talk more about that later on, you

1:40

you can find links to that

1:42

community as well. So if So if you're

1:44

just starting out. out. something that

1:46

something that I

1:49

did in the first

1:51

six months was

1:53

I posted day day

1:55

to that group and

1:57

it really, really

2:00

helped me stay consistent.

2:02

So I'd recommend

2:04

that you go and

2:06

check that out out

2:08

again the moment. It

2:11

is absolutely free you

2:13

can you can find

2:15

all the resources

2:17

that we've done throughout

2:19

the whole year, all the podcasts, videos,

2:22

blueprints in the classroom section of that

2:24

community. So that is really, really a

2:26

great free resources. Okay, so lessons learned,

2:28

you know, what are some of the

2:30

things that I've learned over this first

2:33

year of, you know, becoming a full-time

2:35

day trader? And maybe I'm going to

2:37

talk a little bit about some of

2:39

the things that... Maybe I wouldn't change,

2:41

but some of the things that I

2:44

thought were more important potentially than others,

2:46

and then we'll talk about moving forward

2:48

as well. So first of all, the

2:50

first thing that I've got on my

2:52

list here on the notes that I've

2:55

referenced is trading psychology. So you may

2:57

see this. If you're just starting out

2:59

or if you've been kind of looking

3:01

into trading for some time, the whole

3:03

trading mindset is so, so big. There's

3:06

so many books. So much advice about

3:08

this, for a good reason, I think

3:10

it is really one of the most

3:12

important factors, especially when you start actually

3:14

you know, doing the paper trading or

3:17

trading for real. You know, strategies are

3:19

great. There are many strategies, but the

3:21

hardest part is actually sticking to their

3:23

strategy. So you've got things you're going

3:25

to encounter, such as over trading, you

3:28

know, chasing. So, you know, when price

3:30

pops, you want to jump into that

3:32

stock because it's going up. But is

3:34

that really a good time? Probably not.

3:36

You've got FOMOS or fear of fear

3:39

of missing out. And all of these

3:41

things are psychological and they're going to...

3:43

really be a burden on being a

3:45

successful trader. So patience is so, so

3:47

key. This is one of the things

3:50

that I've recognized. Opportunities will always come.

3:52

You can't double your account in one

3:54

trade. You really need to be very,

3:56

very patient. Opportunities will return. Do not

3:58

chase. Do not over trade. This whole

4:01

aspect is so, so important. And I

4:03

think that, you know, if you read

4:05

a few audio books and you kind

4:07

of study this stuff, you're going to

4:09

find so many stories of really really

4:12

successful traders that at one point in

4:14

their careers early on they probably lost

4:16

or they almost lost everything. There's a

4:18

handful of stories that I came across

4:20

where these people who are super successful

4:23

now basically lost everything their first year

4:25

or you know when they were first

4:27

starting out. If you can learn those

4:29

lessons without losing your bank roll, I

4:31

think that's really key. But sometimes, you

4:34

know, you really won't believe this part

4:36

of trading until you actually start trading.

4:38

So hopefully you can learn these lessons

4:40

when you're paper trading. You can actually

4:42

experience FOMO and see yourself doing stupid

4:45

things. And that's all a mindset game.

4:47

But hopefully you can do that in

4:49

a paper trading account or, you know,

4:51

if you are trading real money eventually,

4:53

you don't lose too much before you

4:56

realize. Okay, I've got to really focus

4:58

on this mindset aspect. Trading psychology is

5:00

so important. Sticking to your strategy is

5:02

so, so important. It's the hardest thing

5:04

to do, I think, you know, based

5:07

on what I've, based on where I'm

5:09

at in my knowledge, I think. this

5:11

aspect is so so key but unfortunately

5:13

you kind of have to experience this

5:15

stuff to really really believe it and

5:18

I've experienced this when paper trading I've

5:20

done all these things and I've sat

5:22

back and said wow like this stuff

5:24

is real and this could really blow

5:26

your account I can see why people

5:29

lose all their money you know you

5:31

buy low you keep buying you think

5:33

a stock's gonna turn out suddenly you've

5:35

allocated so much of your capital to

5:37

one position and it never turns Good

5:40

for you and you've lost or you

5:42

go on margin and things like that

5:44

So again, that's the first point there

5:46

training psychology is super Super important. So

5:48

the next note that I've got here

5:50

Tools and resources as we mentioned that

5:53

community I think that's really really important

5:55

being accountable again for me posting weekly

5:57

in my first six months to that

5:59

group helped me stay consistent and helped

6:01

me make the most progress in my

6:04

learning other resources actually paper trading, so

6:06

setting up your paper trading account. We've

6:08

got tutorials on how to do that

6:10

with various brokerage accounts. It's very easy

6:12

to do. I would recommend that you

6:15

do that, start paper trading, make mistakes

6:17

in a virtual account. I think you're

6:19

going to be happy that you did

6:21

that. I've got this note on market

6:23

data, I think that people get a

6:26

little, not confused, but they want to

6:28

make sure that they get the right

6:30

data, which is understandable. I noticed that.

6:32

The strategy that I'm currently using, I'm

6:34

not day trading and I'm not scalping

6:37

so I don't need the exact prices.

6:39

So the free data on trading view

6:41

is actually good enough for me. But

6:43

we have a tutorial on setting up

6:45

market data through the brokerage with interactive

6:48

brokers. That is going to be good

6:50

enough for most people. What I've actually

6:52

found is that I would actually do

6:54

everything with trading view if I were

6:56

to start this over meaning. I do

6:59

all my charting with Trading View, I

7:01

can actually buy market data with Trading

7:03

View if I want, and then I

7:05

simply just input my trades into my

7:07

brokerage account, which is interactive brokers, or

7:10

my original account, which is crestrate because

7:12

I am in Canada. So for me,

7:14

the tools that I actually use is

7:16

just Trading View, and on our school

7:18

group we've got some tutorials on how

7:21

to get started with Trading View. I

7:23

think you're going to need Trading View,

7:25

whether you... No matter what strategy you

7:27

are using, the strategy that I'm using,

7:29

I just need that. And my brokerage

7:32

account, I don't need the watch lists

7:34

and scanners or other tools from interactive

7:36

brokers, Trader Workstation. However, if your strategy

7:38

needs those, then we've got that whole

7:40

setup, Trader Workstation or Think or Swim

7:43

can provide those things for you. But

7:45

the note that I have here is

7:47

that. Trading View is super important. It's

7:49

the tool that I use. I think

7:51

it's a tool that you should start

7:54

using as well. And you could potentially

7:56

do everything with Trading View. Next note

7:58

is about strategy. and approaches.

8:00

So again, I ended up finding a ended

8:03

up finding a strategy that's not actually

8:05

a day trading strategy. this this podcast is

8:07

about day trading. And I think a lot

8:09

of people come into trading when they they

8:11

think of day trading, and they think that's

8:13

what they want to do. And potentially

8:15

it's something that I'm actually going to do

8:17

in the future, do but. but it

8:19

for everyone and it's not really ideal

8:21

for me with my current my current schedule. So

8:23

I mentioned a few times, times. I'm at home,

8:25

at home, I've got a two a

8:27

half a old and we have a four

8:29

month old now. So a new now so

8:31

a new baby was born in September. It's

8:33

been really, really busy. I can't with

8:35

this schedule schedule down and actually focus

8:37

from when the market's open for a

8:39

few hours every day It

8:41

just doesn't work for me right now.

8:43

However, I can look at the charts on

8:45

my free time. I can set up

8:47

limit orders limit orders that nature. and that

8:50

works better with works better with the... swing

8:52

and and momentum trading strategy that

8:54

I'm currently focusing on. I on. And I

8:56

I give a detailed report on

8:58

exactly what it is in the

9:00

school group the the group under the trading strategy,

9:02

a section. So So you know, you

9:04

might think you want to you

9:06

but you might find other strategies

9:08

that might suit you a little

9:10

bit better. And you might find you

9:12

might find other markets like the

9:14

Forex market, which might be better for

9:16

your schedule your so on so so on. So

9:18

again, I'm... Swing trading and momentum trading

9:21

stocks. That works out for

9:23

me. out for did a lot of

9:25

basic information on futures, on futures The

9:27

forex market, commodities and things of

9:29

that nature. that nature. So your journey,

9:31

you might also discover that that

9:33

strategies might work better for

9:35

you or you might really like

9:37

and have the time to

9:39

do and have the time to do day you've

9:41

been scalping on really, really short

9:43

scalping on really really as well. frames

9:45

as well. So I mentioned the strategy the

9:47

the market symmetry strategy I'm

9:49

doing. I'm I also mentioned that

9:51

there is a that a

9:53

group that sort of, I first found out,

9:55

the real day trading They have a they have

9:57

a wiki, I've mentioned it many times. so

10:00

you can find links to that in

10:02

our school group or below in the

10:04

show notes. That is a great day

10:07

trading strategy. It's free. The wiki is

10:09

a huge document and all that you

10:11

can learn for free to get started

10:14

with. And that's actually something I do

10:16

plan to revisit when my schedule gets

10:18

a little bit. easier with these little

10:20

kids all running around maybe you know

10:23

growing up and you know we can

10:25

get some more sleep and I can

10:27

get a better schedule so I am

10:30

focused on potentially focusing on a day

10:32

trading strategy in the future but for

10:34

now this market symmetry strategy is working

10:36

well for me and you might run

10:39

into those same types of issues with

10:41

your schedule. Next note is about mentorships

10:43

and community so we have a free

10:46

school community, but you know it's really

10:48

for beginners getting started trying to get

10:50

on the good path, staying accountable. Unfortunately

10:52

I can't personally teach anyone to trade

10:55

because I'm still a beginner so we

10:57

don't offer any strategy sort of courses

10:59

or tutorials. In the future I plan

11:02

to be transparent with all my trades

11:04

but you know I'm a beginner so

11:06

I'm not going to be making great

11:08

trades all the time. However there will

11:11

come a point where... You know, you've

11:13

done the basics, you've got a good

11:15

base of knowledge, you will need to

11:18

learn a strategy. So where do you

11:20

learn it from? Where are you going

11:22

to need to, you know, find a

11:24

group and find a mentor? So I

11:27

personally found the great Matt's Bee. I've

11:29

mentioned them him many times. That's the

11:31

strategy that I'm focused on. I am

11:33

part of there are his group. There

11:36

are many other... mentors and groups out

11:38

there for various types of strategies, detrading

11:40

strategies, again that real detradic group. All

11:43

the information is free, but they do

11:45

have communities that you can join and

11:47

you can interact with other traders and

11:49

you can become a part of their

11:52

community and mentorship groups. And again, there

11:54

are some fees for that, but I

11:56

think eventually, you're going to have to

11:59

do that because you need someone or

12:01

some group. or some strategy to learn

12:03

from. You can't just, in my opinion,

12:05

you probably can't just all figure this

12:08

out all on your own. You might

12:10

be able to, but you might also

12:12

find that a group does offer really,

12:15

really good value. So the group that

12:17

I'm in with the Great Matsby, you

12:19

know, there's a monthly fee, but he's

12:21

basically working full time. You could ask

12:24

him questions through the telegram group, you

12:26

can send chart requests, he's basically... full-time

12:28

working for all the members and answering

12:31

questions giving chart updates disclosing his trade

12:33

so it's like a full-time job so

12:35

it's understandable that you would be paying

12:37

for that service but there's also a

12:40

lot of bad services out there so

12:42

you really really need to be careful

12:44

again the real day trading redder group

12:47

seems to be a good base of

12:49

a good place to start for a

12:51

free strategy and then you can consider

12:53

some of their other mentorships but I

12:56

think you know finding a group finding

12:58

a strategy I think it's going to

13:00

be important, but please have your spidey

13:03

sense up because there are some strategies

13:05

and some groups that are really aren't

13:07

good. Some of them are scams, some

13:09

of them are people just pushing programs

13:12

that don't work and have super expensive

13:14

fees, so just be careful. And just

13:16

be careful with that. I think if

13:19

you jump into a group and it

13:21

might have a small monthly fee to

13:23

start, you can see if you like

13:25

it, you can see the strategy, you

13:28

can see if the person's trustworthy, you

13:30

can see if they disclose their trades,

13:32

if you trust them. So I found

13:35

all those things were really excellent with

13:37

Matt from the Great Matsby, but again,

13:39

that's not a day trading strategy per

13:41

se. Next big lesson that I posted

13:44

about in school is this idea of...

13:46

learning to trust the charts. So many

13:48

beginners is me in particular as well.

13:51

At the beginning you really struggle to

13:53

trust the charts and you really think

13:55

that news narratives matter more. And you

13:57

see this, I see it all the

14:00

time, but I think over time as

14:02

you watch trends, you watch cycles, you

14:04

watch... patterns and the more experience you

14:07

get in watching a chart develop over

14:09

time, you will start to understand that

14:11

the charts tell all the stories and

14:13

many times they tell the stories before

14:16

these news narratives come out. So I

14:18

think that's sometimes hard to believe at

14:20

the beginning, but I think the more

14:23

you understand that that's true, I think

14:25

that will help with your trading. So

14:27

again, the other thing here that we'll

14:29

just wrap up this. a podcast with.

14:32

I want to just talk briefly about

14:34

some challenges and adjustments and then what

14:36

we're going to look forward in to

14:39

the next season, season three and our

14:41

2025 goal. So I think that was

14:43

a good rundown. Let's just review there.

14:45

So yeah, trading psychology was super super

14:48

important. I think the more you understand

14:50

that, the better tools and resources, I

14:52

think a lot of people can do

14:55

will need trading view. That's a great

14:57

resource. And then don't stress so much

14:59

about getting everything perfect, especially when you're

15:01

just starting paper trading. You can adjust

15:04

things like that. that you're set up,

15:06

I am looking right now at two

15:08

monitors. Invest in an extra monitor. I

15:11

think it's really going to help. You

15:13

can chart on one monitor, input trades

15:15

on the other, and you can just

15:17

connect two monitors to a laptop or

15:20

your desktop. That's really, really important. We

15:22

talked about strategy and approach. Again, detrading

15:24

isn't for everyone. You might. On your

15:27

journey, find a strategy that works well

15:29

with your schedule and where you are.

15:31

Finding a mentorship and community, I think

15:33

that's ideal for most people. Our community

15:36

on school is about getting started, but

15:38

in terms of strategy, we can't really

15:40

offer anything yet, but there are many

15:43

resources out there. Some are good, some

15:45

are bad. Trust the charts. I think

15:47

that's an important lesson. You

15:49

know it's going to be difficult for some of

15:52

us like me just to balance all this So

15:54

first year looking back how much did I accomplish

15:56

you know I think I did well, but you

15:58

know at home I've got scheduling conflicts

16:00

that many of you listening do as

16:03

well, do as well. trying to stay consistent

16:05

and do a little bit each week. bit

16:07

each week. back back done, I've done, know, I I

16:09

have really done a ton of work

16:11

over the last year, but it has

16:13

taken me a year to do this,

16:15

where I think a I you

16:17

know, I a better could do I probably could

16:19

do it in a shorter amount of

16:21

time. So everyone's timeline is a bit

16:24

different, but don't be discouraged. If it

16:26

takes you a little bit longer, if

16:28

you have you have conflicts, a lot of

16:30

people do, I personally do. do, I That

16:32

being said, don't be complacent. Get as

16:34

much done as you can, because as you

16:36

can because done, we're already into 2025. And

16:38

before you know it, it's gonna be

16:40

2026. 2026. So consistent and jumping in that

16:42

school group and just, you

16:44

know, every week posting something, I think that

16:46

can be very, that can be very,

16:48

very helpful. for staying So

16:51

if we look forward to look personally

16:53

what we're going to do here, we're

16:55

going to wrap this we're up and we'll

16:57

start with season up and we'll I think in

16:59

a few weeks, three, I going to in a

17:01

of do some personal. to sort of do some

17:03

personal out my schedule a little

17:05

bit and getting ready for a season.

17:07

I hope to for this season.

17:09

I hope to with real money this year.

17:11

year. That being said, know, the market

17:13

is bullish. so So I would be,

17:15

you know, taking funds away from investments

17:18

that I think are going to

17:20

do well. to But, you know, I'm

17:22

going to come out with a podcast

17:24

episode talking a bit more about

17:26

this. But yes, I will plan to

17:28

trade real money this year, maybe

17:30

in a small account. I'm personally planning

17:32

to share all my trades and be be super

17:34

transparent. in our school our school the And

17:36

the reason I'm doing that that is potentially to

17:38

to help others, but it's really gonna

17:40

help me help me because If I have to

17:42

disclose the trades I'm doing. doing, I'm going

17:44

to going to be in think

17:46

more careful trade. not doing stupid to,

17:48

So I'm not I'm not hopefully I'm

17:50

not gonna chase, going I'm not trades

17:52

do trades that are not in my strategy

17:54

if I need to share them with all of

17:57

you guys and people in the group. So think

17:59

that could be a... a good little approach to

18:01

this, meaning, you know, sharing your trades publicly,

18:03

you know, you could potentially, you know, you

18:05

might be embarrassed if you do something, just

18:07

a bad trade or stupid trade. So maybe

18:09

that aspect of it can help me stick

18:11

to my strategy and only trade within my

18:14

strategy because I think that's so, so important.

18:16

I think that's a big reason why people

18:18

lose. their money. So that's what I plan

18:20

to do in season three. I also plan

18:22

to maybe talk a little bit more about

18:24

some things that we didn't cover, some important

18:26

things that I'm noticing that is really important.

18:28

So just random things like market structure. We

18:30

never talked about that in the previous season.

18:33

I want to talk about that. I also

18:35

want to talk about market makers and these

18:37

things called liquidity grabs. So, you know, there

18:39

are big institutions that can control where the

18:41

stock goes. And I've seen it time and

18:43

time again where, you know, there's the support

18:45

levels and people have the stop losses set

18:47

up and the price just runs down to

18:50

these areas, grabs all that liquidity, grabs all

18:52

those shares, and it's at a support zone

18:54

and then the price comes back up. So

18:56

I want to talk a little bit more

18:58

about that and share a podcast on that

19:00

market structure, and then more eventually about my

19:02

actual trades. funding my account and things of

19:04

that nature. So in terms, you know, for

19:06

beginners, some, you know, basic advice that I

19:09

would give after doing this for the first

19:11

year, you know, search slow, understand that this

19:13

is going to take you some time. That

19:15

being said, don't be complacent, try and do

19:17

as much as you can every day or

19:19

every week. Always paper trade, you know, focus

19:21

on that, make mistakes, paper trading, make trading

19:23

psychology mistakes in a virtual account so you

19:26

don't lose all your money. I think you're

19:28

gonna run into that and you need to

19:30

be aware of it when you are. We

19:32

talked about introspection, so focus on things that

19:34

you think you're not good at and try

19:36

and make those your strengths. So, you know,

19:38

for me, chasing. was a

19:40

big one are trying to

19:42

allocate more than I

19:45

should to a position

19:47

it's that it's going

19:49

to go up and

19:51

I get you know, get

19:53

a huge gain. That's

19:55

not going to help

19:57

in the long -term

19:59

success of my trading.

20:01

So I understand that

20:04

through reflecting what my what

20:06

my bad habits are,

20:08

and I think that's

20:10

important for you to

20:12

do as well. for you to

20:14

do as talked about finding

20:16

a mentorship a a

20:18

group, or a which is

20:21

important. Patience, patience, patience, the market's not

20:23

The market's not going There

20:25

are always going to be to

20:27

be opportunities. consider that find

20:29

then find a kind of works

20:31

that kind of works

20:33

with your now,

20:35

and commitments now and just understand

20:37

you can always, you know, your your

20:39

strategy and change it up potentially

20:41

in the future as your schedule your

20:44

schedule potentially changes as well. So so

20:46

much so much for listening. Hope

20:48

that you found this useful in this season.

20:50

to useful as well. I look well. I look

20:52

forward to talking with you more

20:54

later in three. And again, if season not part

20:56

if you're not part of our

20:58

school community, consider joining and we

21:00

will chat over there as well.

21:02

thank you very much and we

21:04

will talk with you soon. you

21:06

soon.