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Here are 5 risk management strategies to help you reduce your losses, maintain focus and stay consistent while day trading the stock market. Remember to only try these out with a demo accountIntro – 0:00The 1% Rule – 1:16Take Profits & Cut Losses – 7:46Overtrading & Revenge Trading – 9:34 Record Your Trades – 10:37Keep it Simple – 12:50My videos are for entertainment purposes only and are a representation of my journey as a beginner. I am not an advisor and any actions you decide to take are entirely your own responsibility.
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Full in depth review of the $2500 USD Stock Market Lab course by Umar Ashraf after buying it and trading for the past 8 months. Add me on Instagram: XuankaisamaThis is a course for US stock market trading and it consists of scalping, day trading, swing trading, options trading. It is mainly using technical analysis to predict price action and support and resistances to day trade. The day trading strategies and risk management are paramount to becoming a consistently profitable trader. What is the course about? 1) 10 Week Trading Program It’s split up into 17 different sections. The first 3 parts will be about introduction to the stock market, learning about stock market lingo, a little bit of information about options and trading platforms. After that is the meat of the course which of course includes learning about price action, chart patterns, technical indicators and risk management. After that there is a rough introduction of fundamental analysis and knowing about important catalysts. There are also different trading strategies that are taught, followed by how to build a watchlist, how to do trade management and most importantly journaling. After that is one of my favourite parts which is the daytrading and swing trading setups and walk through where umar will break down the live trades that he took, how he rates them and how he can improve during those trades. After the trading setups, there is a deep dive into a trader’s psychology, emotions and how to develop a trader’s mindset. 2) Discord chat On this discord chat there are quite a few chats that you can potentially use to your advantage. There are a lot of chats present but honestly only a few are really useful at this moment to me, so I will only go through those that I find useful. First is the announcements section where ranya who is the community manager will post any new stockmarketlab updates from time to time There is also a webinar schedule where you can find all the webinars that will be held in this month. The weekly calendar channel is also pretty useful as the economic calendar and earnings calendar will be posted every week followed by a weekly breakdown of what has happened in the markets and what economic data has been important to drive the markets up or down. The protraders chat is where you can find all the daily updates on what is happening in the markets and also the latest news/catalysts on various large cap stocks like AAPL, TSLA, AMZN and so on. The trading chat will be the one where you potentially speak to other traders and see what other traders are watching Oh and lastly, there are premarket webinars hosted on discord voice chat every day before market open where you can learn about the news of the day and how the markets are doing and potential key levels to watch out for during the day. 3) StockMarketLab forumYou will probably start off with introducing yourself in the introductions section. You can also see weekly, monthly recaps by other traders and you can read through to see what you can learn from their mistakes One of the most recent things that happened was that Umar hosted a 30 day challenge in January where traders were paired up and had to show up for trading every day for the market open and to document their trades at the end of the day. You can also post your trading struggles/ask questions and Umar might answer them in subsequent webinars. So now let’s move on to the online training webinar. 4) Online Training Webinar All the previous live webinars that were done to educate and help traders were recorded and you can go through them to improve your trading. There are also trader development webinars where umar answers the questions that people in the community have asked either directly to him or on the forum. There are also some charting webinars, trade recaps and member development webinars done previously. 5) Pros and cons of the course 6) Who this course is suitable for? Filming equipment: Camera: https://amzn.to/3pQbPsUMicrophone: https://amzn.to/2XbA4WiSongs I use in my videos: https://www.epidemicsound.com/referra… (Sign up now for a 30 day free trial, I just get a month extension on it if you do sign up!) *DISCLAIMER: Links in this description might be affiliate links. If you do decide to purchase a product or service with the links, I may receive a small commission at no additional charge to you! WHO AM I: Hi, my name is Xuan Kai and I’m an aspiring daytrader and investor. This is a personal interest and obsession of mine that I really want to succeed at. This channel is purely based on my own opinions and for entertainment purposes, nothing is meant to be construed as investment advice. I just hope that by documenting my journey, it will help to inspire, motivate and help like-minded individuals on their journey as well. Have fun and of course don’t forget to subscribe 😊.Youtube Familia: 52 heads strong