After paper trading for some time now, I can certainly see how easy it is to make some common mistakes, and these would be amplified with real money. There are many good strategies out there, and it seems that "sticking" to your strategy is probably the hardest thing to do, and what separates winners from losers. I can see this now after the drop in the market yesterday, and I've also recently came across this statement from the book The Best Loser Wins. Sticking to your strategy is the hardest part. I would imagine many other texts / guides agree with this. Here are the rules I've been working on following for the Market Symmetry Strategy I'm learning: - Stick to the strategy - Never chase price - Limit position size - Buy at support, sell at resistance - Stay uncomfortable (buying at support feels uncomfortable) Find more details about these here. These seem pretty easy to follow, but they're not. I've experienced FOMO, overtrading, and emotional reactions recently and can see how easy it is for people lose money trading. For example, I was buying COIN at support levels and on Thursday when the market had a down day. COIN dropped after earnings and kept falling through every support level. I ended up allocating more than 10% to this position, and overtraded instead of waiting and being patient. Based on various sources I feel COIN is going to do really well, and I veered off the trading rules and allocated too much in fear of not buying the bottom / reducing my average cost. These mistakes are very easy to do, and they would be amplified with real money. Now a large portion of my portfolio is stuck in a stock that is down, and I'll need to potentially wait many days or weeks for the position to turn green hopefully. Bottom line, you NEED to stick to your strategy and stay disciplined. Practice with your paper trading account because when you risk real money and run into a situation like this without practicing it or experiencing it, it very well might wipe you out.

I came across a trader named HamedTrades. I used to watch him all the time when I first got into this and then he stopped posting so I stopped following him. Now he is back being active but you have to pay for his stuff. Besides TGM and TeslaTracker are there some good traders out there that y'all like to watch trade and offer free advice?

Hey everyone. I wanted to recommend this YouTube channel for those wanting more tutorials on Technical Analysis. Here is the YouTube link: https://www.youtube.com/@CantoneseCat The YouTuber is named Cat (keeps his personal information private) and in my opinion he's super knowledgeable and a great teacher. He has a members only section on his YouTube channel which is $5 per month. I am a member and I'm going through his Members Only Lectures. Super affordable and you can always discontinue once you learn the material if you wish, however he does upload new lessons every few weeks. Again, wanted to share as I enjoy this lectures.

I’m totally new to day trading and have yet to even attempt a paper trade but I’ve been seeing and hearing more and more about this endeavor lately so I took that as a sign to dig deeper into it. I’m excited to be a part of this beginner community as we learn this skill set together. I look forward to building a strategic plan of attack and gaining the knowledge required to be a successful day trader to the point of replacing my current income and living solely on the profits of my day trading strategy. Thank you Tyler for being so willing to share your journey with us and helping us learn along side you. I’m currently working my way through all your podcasts and getting my mindset right and my proverbial ducks in a row.

I have been reading up on your strategies and so far I noticed that in the articles 'This Position Trading Strategy Explained' and 'A Strategy for Beginners to Start With' you didn't mention stop losses, only take profit points. I was wondering how one should go about setting stop losses to manage risk for both the strategies mentioned in the articles. I feel stop losses are important, because you will not always be right, and they can help you limit your losses. When you begin to get into Dollar Cost Averaging(DCA), which can be used to lower the average costs of the stocks/options/financial instrument you are trading, traders should also be aware it makes you put more money into the trade. This means more of your portfolio is now involved in and affected by the potential gains and losses of your strategy. Example: Where you initially calculated and accounted for using 10% of your equity in a single trade and allowing for only a 30% loss of your trade(3% loss on your portfolio). Dollar Cost Averaging could lead you to have more than 10% of your portfolio involved in the trade; let's say you made 2 more buys each another 10% of your portfolio and now you are using 30% of your equity. That 30% loss on your equity could then be a 9% loss on your portfolio.