May 7, 2017
I get hundreds of messages a day, especially after a big day like my $4,100 trade on $DELT last week, and there's a common theme. Everyone gets excited and asks me how they could do is as well. This is what most new traders only get excited about! Those BIG gainers that come along and grab all the attention, but consistency does not. If you are new to trading or struggling to be consistently profitable set yourself a REALISTIC daily target like $200-300 a day. It's easier than you think!
Tired of that day job? I'm sure for many of you $300 a day would keep the day job away! The best part is no matter what your starting capital is $200-300 a day is very attainable. That doesn't mean you won't beat your target, miss, or have a negative day, but with the proper strategy and discipline you can average a nice week and then month. Of course, the major key to the previous point is discipline. Hit your target and walk away!
Here's the Top 5 Steps to Making $300 a Day Trading Stocks
1) Learn a Complete Strategy from a Professional
The most common mistake that traders make when starting their trading journey is not focusing on ONE successful strategy and learning it from A-Z. To do this, find a veteran in the stock market and learn everything you can from them. Everything that I know is thought in my Fous4 Training Courses, where you will learn everything needed to learn a focused strategy step-by-step. I've been trading for 12 years and I'm always trying to grow and improve for myself and my students. There's no point in trying to learn 15 different setups from 3-4 different traders with different strategies from YouTube. You will never learn anyone's complete strategy on YouTube or Books. Dedicate yourself to learning form a professional with a respected training program.
2) Walking Away
Last time I checked I have a 54% win ratio. That means I lose almost half the time! Lot of new and naive traders think I should win much more! What most don't understand is that I take a lot of small losses that reduces my win/loss ratio and you should too! Learn when to walk away from a trade as you can always trade it again. The best way to do that is to learn how to read resistance levels with the stocks price or indicators and honor your stops. I always say "buying is the easy part" but knowing when to sell a stock whether in the green or red is the hard part.
On the flip side, so many new traders squander BIG gains because they see profits and take them prematurely. Cut the losers short and let the winners ride! The beast approach is to scale out on spikes, locking in 1/2 or even 1/3 profits, and then let the rest ride. For instance, if you have 1000 shares of a stock sell 300-500 shares if you have the urge to sell. This is especially important if the stock's setup has significant upside. Keep some skin in the game!
3) Study, Practice, and more Practice
Here's the simplified track to consistency with the Fous4 Strategy. Study the Fous4 & Fous4x2 Training courses, setup your charting and trading software, get used to trading LIVE on FousTV daily, and practice your trading by paper trading to gain confidence and consistency, and in time start to trade with real capital! But first, take the time to practice and gain confidence with the #Fous4Squad daily. Spend no less than 1 month practicing without risking real money FIRST! This will help ensure you have a successful career in trading stocks ahead of you.
4) Evaluate Yourself
Once you go LIVE with real capital it's game time! Money is on the line so get serious. This is the number one thing failed traders to not do, EVALUATE! You need to be seeing what and how you are trading week to week. How do you do that? Keep a journal of what all your trades are day to day, entries and exits, profit and loss.
Luckily, there's an easy option for that! TraderSync.com where you can easily import your trades and evaluate what you're doing right and wrong. You can't improve your profits without knowing what's going wrong! Now you can see it easily.
5) Gauge the Market
So many traders are laser focused, tick by tick, on the stock they are trading or looking to trade. Take a step back, look at the overall trend, make sure you're not over exposed, and let the market be your guide! There's several things that I teach that helps traders identify those 5 star setups and how to avoid the average ones. One of the most important steps is to constantly use the market to gauge stock entries and exits. This is how you stay consistent and make sure the 'trend is your friend' when trading. I prefer to look at $INDU and $IWM when I'm trading to gauge the market when trading. Of course, it's just one of the several things I consult with when I'm trading; however, it's very important and unfortunately ignored by new traders.
Check out Big_Mike's newest Video Lesson:
All of the above skills are learned in detail in the Fous4 Training Program. I'd love to tell you step-by-step how to get started and hit that $300 a day, even with a small account, by contacting us at anytime with any questions you have!
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This post was written by dieselEdge