I publish my daily stock trading reports and tips here from now on because I prefer to leave The LuckScout Community group to the community-related topics, questions, discussions, etc. You can leave your comments here too, by referring to the form at the bottom of this post.
Anyway!
Another too short stock day-trading session again…
I preferred to finish earlier because we had “CB Consumer Confidence” scheduled to be released at 10:00am today. Although it is not too strong news, I preferred to be out before it became released. So, I finished my day-trading with 1.575% profit today. Not bad 😉
I fine-tune my stock day-trading strategy from time to time, although it is years that the basics are the same, and are based on pure technical analysis, support/resistance breakouts, candlesticks, and strong and important chart patterns like Butterfly and Bat Patterns (basics are always the same, but the details have to be fine-tuned based on the stock market conditions). There are articles about these topics on our website (here) that I suggest you read them carefully.
Steps to Become a Professional Stock Trader
There are two steps to becoming a professional stock trader (and all other kinds of trader). Learning the techniques is the first step. Although they are important, they can be learned by anyone. Only those who try to find or invent a new trading system every day, are the ones who will keep losing technically. You don’t have to reinvent the wheel. Stock trading techniques are already there. What I outlined above, have been used by professional and consistently profitable stock traders for numerous decades. It is proven that they work. Therefore, if you try to look for the new things that are better, you will fail. You should use the techniques that have already been tried by the most successful stock traders, and it is proven that they work.
The second step is the psychology of stock trading. You have to (1) build your confidence and (2) learn how to ignore two important emotions: Fear and Greed
This has to be done through taking some other steps, one by one. You have to learn the stock trading techniques first and then start demo-trading. You must treat your demo account exactly as your live account, otherwise demo-trading not only won’t help, but also it will cause you to develop bad habits that will make you lose in live trading too.
You should start with a demo account that is exactly the same size as the live account that you will trade later when you are ready to start live trading. For example, if you want to trade with a $1,000 live account (real money), you must practice with a $1,000 and not a $100,000 demo account.
You must grow your demo account by following your trading system every day. While you are growing your demo account, gradually, and slowly but surely, (1) your confidence will be built too, and (2) you learn to ignore fear and greed in your stock trading. You have to do this at least for 3 months. If you are too new to stock trading and you don’t have a good mentor who is a real trader (not a scam trading-course-seller), you should demo-trade at least for 6 months.
If you can repeat your success in demo-trading, consistently, every day and every month, for 6 months in a row, then you can start with a small live account. You should pass the same steps with your live account too. You must grow it, gradually, slowly but surely, and while you are doing it, you will build your confidence in live trading too, and you will turn into a consistently profitable stock trader. I emphasize on this: Consistently Profitable Trader
This is how it works. If you see that 99.99% of traders lose, it is because they don’t complete the above steps and they want to make shortcuts or reinvent the wheel. Keep in mind that YOU are not smarter than the markets, and professional traders who have developed the trading techniques and tools I outlined above. Don’t try to be too smart. You will fail.
That was my trading tip for today. As usual, I’d like to talk a little about the importance of what we do on this site:
If you are serious about achieving financial freedom, for free, risk-free and without getting scammed again, what we do on this website is all you need. But, if you think the grass is greener on the other side, and there are some other programs that pay you more, you can try them. I am sure you will be back to us after wasting some more time and money 😉
Nobody will make you financially free. You should achieve it on your own. And, here on this website and community, we help our members achieve financial freedom on their own, for free, and risk-free. Everything is clear here:
1. You create your account and start earning points through different activities on the site.
2. Your points will turn into money at the end of every month, based on the money that the website and community make.
3. You can use this money to trade with us, if you want, and grow it gradually, until it turns into a huge capital that makes you financially free. Please watch this video to learn what I mean:
4. You do all of these here on this site, for free, and risk-free. It is free because you don’t pay any fees. It is risk-free because you trade the money that you make here for free. If you like to learn about our system even more, please read this article.
That’s all. It is as easy as what I described above. However, in order to be part of this system, you MUST be as active as you can on the website to earn points and help other members to do so. Your activities (1) help you earn more points to have a bigger share from the website’s income; (2) help others to earn more points too; (3) help the community to make more money; and (4) help you to become eligible to trade with us every day.
So, please be as active as you can and help the community and other members to become more active every day.
Thank you!
I love you all💝
Best regards,
Vahid
Please see the attached screenshot:
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