✅ #1 Profitable Day Trading Tip | TRADE #104 & #105 FULL TRADE RECAP

boy do i have a doozy for you today i got a double trade today we’re going to watch two trades play out there both i caught them both on film and i’m going to show you the ins and outs of exactly what happened why i looked for the entry how i managed the trade and then just wrapped up in all of this i’m going to give you the number one most important day trading tip of all time in my humble opinion without this tip i just don’t think that on the long term basis you can be as successful as is possible you leave a lot of money on the table if you don’t follow this one tip and i’m going to give that to you here in just a little bit but i want to set these trades up so check this out we’re looking at amd we’re on the 15 minute time frame this is td ameritrade’s thinkorswim platform and you can see i’ve got an order right here i’ve got an order for 1200 shares to go long and a lot of you already know that i like to trade breakouts to the upside and the downside and you can see this last 15-minute candle right here the high of that candle i put my order between a nickel and a dime above that level for an entry i’m setting a 25 cent stop loss that’s based on my back trading my back testing which is over a hundred trades now and this is trade number 104 so i’m looking to take it long and i sped this up because it took a little bit of time so let’s press play on this you’ll see what happens here market opens it hangs and hangs and hangs you can see it breaks through there’s just a slight delay sometimes so i got triggered in and right now everything is gorgeous i’m up almost 250 dollars i’m getting ready to edit this order so that what i can do is once i see 2.5 r on my p l which is 750 dollars then i’m going to look to move this stop loss to 2r which is hundred dollars because as we talked about yesterday and if you didn’t catch yesterday’s video i’ll post it up right here but yesterday’s video i talked about my r being three hundred dollars three hundred dollars risk unit on each trade looking to risk one to make 2.5 but once i get to 2.5 i slip that stop loss up to 2 real quick and then i’m going bar by bar strategy from then on so i’ll press play again you can see this turns right around on me i’m getting ready to edit that order if we hit 750 i’ll fire it off watching 500 550 450 400 300 oh no it’s eroding i’m losing ground and that was it so you can see right there i got filled stopped out at 93.96 93.95 so it took slightly larger than a 1r loser that was really unfortunate and that’s pretty rare they don’t usually go that far and then fail usually it’s like i’m up 100 200 and then it fails i don’t even get to 1r but today i was almost a 2r and then it flipped and failed on me so no big deal if you go back to yesterday’s video you’ll know that i committed to changing my trade plan i’m now playing the high and i’m playing the low every time because i don’t want to miss the monster trade the monster so here we go play in this one you can see i’ve got this order set up now to go short i’m watching for this to drop below the low of this last 15 minute candle if i get that i’m going to trigger in short it hangs around triggers me in and you can see right there i got a nice beautiful fill 1200 shares right away at 93.65 so now i’m going to go ahead and open up this trade and i’m going to edit this order you can see me doing that right here and i’m going to change that to 50 cents lower which i do right here 93.15. it’s 50 cents lower than 93.

65 04:12 - so if this trade shows 700 750 dollars on the p l i’m gonna fire off that new stop loss to move to 2r so that i can get underneath it so that i guarantee profit and then i let the trade decide i let amd do all the work and decide how far it wants to go because then i’ll just play it bar by bar on the way down now this one also looked really good i was pretty excited about this and my number one tip for day trading is coming up here in just a second i want you to tell me if you can pick out what the tip is look at this thing push back up it gave me profit it took it away and look how close that came zoom that in look how close i am to being stopped out okay drops back down so you’re thinking oh okay he’s safe great heading back into the profit zone it’s giving me a little more back into the 300s then it takes it away then it gives it back then it takes it away a little then it gives then it takes now keep watching this trade because then it starts to push starts to push down start to feel confident but then guess what happens it starts to take it away again it keeps taking and giving look at that come back i’m basically almost read after being up over four hundred dollars in both directions it gives back to me a little bit takes away i’m only up a couple hundred bucks here so what do you think somebody might say just punch the flat button just get out take what profit you have and that’s where my tip comes in i’m gonna pause this the number one tip for all day traders is patience if you have a plan patience you can’t break that plan if you break that plan if i would have punched out right here for 204 dollars and 12 cents right here if i just said i’m out i can’t do it i’m out watch what i would have missed takes more from me takes more from me i’m just waiting to fire off that new stop loss waiting for it to show 750 on the p l look what my patience look how my patients paid off watch this thing drop it takes forever it absolutely takes forever and this can be agonizing but if you know what your mechanics are you don’t have to make any decisions all you’re doing is waiting for certain things to happen it’s an algorithm and here it comes 540 on the p l 650 on the p l seven oh there went so we got there 732 right now where i froze it but i just fired off that stop loss i moved the stop loss from my original position of minus 25 cents i’ve now moved it in my favor by 50 cents so that if i get stopped out of this the worst i can do is 2r so then you can see this p l continues to push 750 820 and i think we max out i’m getting ready to adjust my stop loss again there’s 900 and you can see right there so i went ahead and fired off the new stop loss dropped it down another 10 cents so you can see that here and then you can see on the p l we get as high as i believe a thousand dollars 1035 we hit and then what happened was it backtracked on me enough and it took me out of the trade so i ended up being up 708 on this trade i ended up making a little over one r on the day because i did have the loser on the other side so if i take my let’s do the quick math if i take my 708 dollars and i subtract my 354 dollar loser let’s take 708 minus 354 and we divide that by 300 so i ended up with about almost 1.2 our gain on the day because i took the up and the down now if this would have been a monster this would have totally reinforced the plan from yesterday about taking both sides every time because if i only take one side i would have been stopped here and never seen this other this other down move now if this would have gone 14r that would have been amazing because it would have reinforced everything and that’s it would have been a textbook a textbook play for my strategy which would be bar by bar after i get to 2.5 r so share this video subscribe if you haven’t hit that like button i want to know about your strategy and how you’re doing with managing trades once you’re in because patience is the key it’s the most important thing look what it would have cost me today i’d have been out for 100 bucks 150 bucks but instead i walk away with 708 dollars out of this downside trade hope this was helpful thanks for stopping by for trade number 104 and trade 105 tune in tomorrow for trade 106. we’ll see you then you .