How To Day Trade Stocks (Part 1)

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I’ve been obsessed with the stock and futures market ever since I took my first stock trade around 2001. There’s just something sexy about being able to trade online from anywhere in the world. The freedom to trade and travel the world is a huge opportunity for people, but it took me a very long time to become a profitable stock trader.

Over the years I’ve spent well over $100,000 on education, systems, coaching, and every other trading tool under the sun. I found that 99% of the information and education about trading is either outdated or just doesn’t work. Our trading community is littered with scams, fake gurus, and copied theory. So, my goal is to give people what I wish when I first started trading over a decade ago.

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In this video I’m going to talk about the stock trading dashboard, which includes charts, Level 2, Time & Sales, Price Matrix, Hotlist, and Trade Manager. It may look a little overwhelming at first, but just take it piece by piece and you’ll be able to learn how to use it quickly.

Also, make sure to subscribe to my YouTube channel for more free trading education.

Stock Charts – It’s important to use a robust trading platform like TradeStation, NinjaTrader, or DAS Pro. You want to be able to fully customize your charts to get a clear view of stock market price movement.

Level 2 – This is basically a look at where people are looking to buy or sell a stock. You’ll see potential buyers on the “bid” column (left side), and potential sellers on the “ask” column (right side). This can be tricky since traders place fake orders to try and scare other traders out of trading against them.

Time & Sales – Very simply, this is a historical list of all the trades that are placed on a market. It typically shows the price, amount of shares/contracts, and if the order was on the bid or ask.

Price Matrix – This is another way to view Level 2, and represents a price ladder. In most platforms you can use it to move orders up and down without having to retype your order.

Hotlist – Most traders want to have a list of stocks that could be potential plays in the near future. In another video I’ll detail exactly how I scan for hot stocks.

Trade Manager – It’s important to keep your eyes on what trades you’re in to make sure you can stay focused on managing multiple positions. Professional traders can be in anywhere from 1 – 15 trades at a time.

Make sure to get your copy of this complementary step-by-step trading video course that will show you some “myths and realities” about trading.

About the Author

Chris Dunn is a Bitcoin trader, advocate, and coach. He is the author of How To Trade Bitcoin For Serious Profit, and founder of the Skill Incubator. He is an active investor and entrepreneur with the mission of bringing financial literacy, blockchain technology, and entrepreneurial skills to the world. Read more here.