5 Steps to Success in Trading Online

If you’re interested in Trading Online and want to know how to trade the stock market as a Day Trader we will give you some helpful tips!  Learning to make investments in the stock hard market is hard, learning to day trader the markets is even harder.  Trading online can be really hard especially if you are doing it on your own.  The best way to learn a new skill is to learn from somebody that already knows how to do it!  This is true for anything in life, and Day Trading is no exception.  We work with students both in our premium trading courses and our day trading chat room to teach them how to successfully trade the markets.


Step 1: Get trained!  Education yourself

Education is number one!  You simply can’t succeed as a trader without education.  We have a reading list of books we recommend to all of our students in the chatroom.  If you are ready to devote yourself to trading online we’d welcome you to check out our  Day Trading Course.  The Day Trading Course we offer includes 1 year of mentoring.  We take you under our wing and give you every possible advantage of success.  In contrast to the majority of students who trade the markets alone, students in our classes and chatroom have the benefit of working with a team of professionals.  We have traded through 1000 point market crashes and 10,000% biotech runners.  We’re here to help guide you through the action.

Regardless of whether you join our program or not, education is critical.  You need to develop a strategy that you will trade every day.  This strategy will be critical to your success.  Trading online is a career where you can’t be a jack of all trades and a master of none.  You need to master 1 strategy because that will be your means for survival in the market.  Those traders who are able to survive in the market eventually learn.  It takes some traders longer than others but the first step is developing a sustainable strategy.  I suggest our Momentum Trading Strategy.


Step 2: Connect with a group of successful traders

If you are learning to play tennis you want to learn from people who are better than you.  This same philosophy is true for trading online.  You want to surround yourself with the type of people you want to become.  This improves your chances of learning to trade like them.  You our Day Trading Chat Room for $99/mo.  We host a live day trading chat room everyday from 9am-4pm.  I trade the markets and allow all of our students to watch over my shoulder as I’m trading.  There are many trading groups that you can find.  It’s important to make sure you feel comfortable with the group and have a good level of compatibility with the primary strategies traded in the room.  In our room we trade momentum stocks and reversal stocks.


Step 3: Practicing in a Demo Account

Open a Demo account with Think or Swim and begin Paper Trading for FREE.  There is no reason not to start doing this.  All of our students will be trading on our 90 Day Trading Plan.  We will begin with $50 risk per trade and build up to $200 per trade risk.  This will get you on track to make $2k/week or 100k/year within 3 months.  The most important thing to do is to track all of your trades in an excel document.  This allows you to begin tracking your success!  It’s critical that you understand your percentage of success, and profit/loss ratios.  These numbers will tell us if you have a successful and sustainable strategy.  When I work with new students I always ask to see the record of their trades.  I use this data to determine what we need to work on first.  If for example a student has several huge losses I’ll recognize the importance of capping losses.  If a student has a 30% success rate we need to focus on taking better quality setups.  If you don’t know your statistics you can’t improve!  I don’t recommend new traders try to build up this data with live trading.  Live trading unproven strategies is too risky.


Step 4: Transition to Trading with Real Money

Transitioning from a simulated trading environment to trading with real money is a big step!  We review the performance of our students before giving them the OK to move out of the paper trading account.  It’s an absolute must that if you are going to be successful trading online that you have been successful papertrading.  If you can’t succeed in a demo account, there is no reason to believe you can succeed with real money.  We teach our students the strategy we use every single day to profit from the market.  This are proven strategies.  Our goal is to see you succeed as a papertrader and then switch you into real money trading.  Whenever a student makes the transition we begin with 100 share max positions and $100 daily targets.  We start slow to allow trades to acclimate to the experience of loss.  It takes time to adjust but this approach of starting with 100 shares and then increasing by 100 shares each week has been very successful.  If you aren’t sure which broker to trade with check out this post on the Top 3 Best Online Trading Brokers


Step 5: You are profitable trading online and you can teach our new students

The final step is when you become a profitable trader.  You are now in a position to give back to your trading community by teaching new students the skills you have learned over your months and years of trading.  For some the road to success in trading only takes a few months while other struggle for years.  If you find yourself treading water or struggling to increase profits we are happy to work with you in our one-on-one sessions.   Please feel free to email me with any questions!


A Recent Momentum Trade from the Chat Room, Long at 8.80 with a High of Day of 19.10.