Here’s Why You Shouldn’t Give Up on Day Trading
I got an email recently from one of my subscribers that went as followed…
Hey Kenny, I’ve recently started trading around the VWAP, but nothing I do seems to be working. Every time I buy a stock it goes down, and every time I sell, I sell too early. I’m feeling a little lost here.
I hear you. And I’ve been there.
Look, no matter how much I may get up on my soapbox screaming and yelling and telling you to follow the VWAP, sometimes you just need it to click before you start getting good at trading.
The thing is though, it will click. I guarantee you that.
I didn’t go to school for finance, or economics.
I went for theater. Singing and dancing for the masses.
If an untrained theater major like me can learn to trade the VWAP, then I believe anyone can.
I’ve taught plenty of people to use the VWAP that have come from all walks of life.
In my Warlock’s World room, we have had success stories coming from truckers, business owners, retirees, teachers…
We have a motley crew of ragtag traders that are at all levels of understanding trading.
Some have been doing this for years, some have just started.
The common thread that ties the successful traders together though is that they are regulars. I see them every day or at least a couple days a week in chat.
Most importantly, then learn from their bad days of trading.
So, if you had a bad trading day, don’t just end the day and start another one.
Look back at your trades and write down exactly why it didn’t work.
Did you not have stops in place? Did you play options and get scared of losing too much money?
Were you trading an awful pump and dump stock and got caught in a massive selloff?
Whatever the case may be, I want you to log your trades.
Winners and losers alike. Get in the habit of doing this.
The more you drill good habits into your head, the faster you’ll become a successful trader.
Everyone has to start somewhere. No one is born knowing how to trade the VWAP.
If you’re worried about losses right now, I highly suggest trading with a paper account OR trading in small lots.
Instead of risking $50 per trade, maybe only risk $5 to start. Get a feel for a stock you really like or an ETF and get involved with trading.
Feel free to send me your thoughts and questions to KennyGlick@MoneyMapPress.com. I’ll see you all tomorrow morning!
One response to “Here’s Why You Shouldn’t Give Up on Day Trading”
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February 02 2023
Great advice Kenny!
I am one of your lifetime members which provides me the best opportunity for trading to click…I learn something new or get reaffirmed each time I plug into the Warlock World! However, I have been stuck in analysis paralysis for a while now…so instead of watching from the sidelines, I will start paper trading the VWAP and take notes. I am determined to learn this!
Thank you, Jim