This Is How We Make Money Day Trading – Watch the Live YouTube Event From Thursday

Posted 9:30 AM ET - We found some great trades during the Live Event yesterday and entered 2 winning trades during the webinar. Today I got philosophical in my chat room and I thought I would post those transcripts. I hope these comments help you. Pete: This might sound so obvious but your goal should be to make money every single day. Our best trading is early in the day. If you land a great winner or two and you have nice gains - STOP 10-21 07:47 Pete: Any additional trades should be so incredibly compelling that you absolutely know in your heart that they are going to be winners. Plus you need to have the market moving in your direction (not flat) 10-21 07:48 Pete: Even if you make $10 in a day that is fine. You need to get used to the concept of winning everyday and that needs to be your priority The tomorrow is another day attitude does not work. You need to close the books in the green everyday You also can't shrug off losses. you need to understand where you went wrong 10-21 07:51 Pete: when I worked on the floor I would see a ton of guys who would make great money in the morning. The market would slow down and they would keep trading. By the end of the day they would piss away their profits and sometimes end in the red I can't tell you how many times I would ride the elevator and hear the same comment, "I should have left the floor after the first hour". 10-21 07:53 Pete: There is something that is hard wired in all of us. If I just try harder I will do better you do need to put the work in an you do need to conduct your research however, working harder and forcing trades when you do not have the market on you side and when moves become more random is not the way 10-21 07:55 Pete: if you want to hone your skills spend the middle of the day flipping charts DO NOT TRADE Flip daily charts from any list in the platform. Look at it and in every case make a mental note of what you like and what you do not like about the set-up 10-21 07:57 Pete: This is like a professional black jack player who flips cards all day to hone their counting skills or the golf pro who spends hours on the driving range your pattern recognition skills need to kick in automatically the more charts you look at the better you will get at it each day I post charts and I annotate what I like and what I don't like. this is your road map 10-21 08:00 Pete: when you string 5 winning days together and you look back at how your account gradually crept higher you will not want to ever have a losing day again. your priority will become making money every day and never taking a step backwards i do have losing days, but they are few and far between. for those of you that have seen me in the red you know my claws come out and I am VERY determined to get back to even. 10-21 08:02 Pete: i have to kick into high gear and get super selective in my trades often the market throws me a curve ball and that causes the losses. However, that market move probably gave me some insight and opportunity that I did not see earlier If you ever watch a pro golfer who has a horrible tee shot they don't just give up. they are more determined than ever to make par 10-21 08:04 Pete: that is the attitude you need to have i will tell you that my biggest losses have come after my biggest gains 10-21 08:06 Pete: confidence takes over and you want to have that winning feeling again and again. you become sloppy and your hard fought gains that gushed in are quickly pissed away on marginal trades this is a VERY tough market. 10-21 08:09 Pete: if you are up early, take the gains and TRY NOT TO TRADE 10-21 08:09 Pete: this is much harder than it sounds for most of us 10-21 08:11 Pete: for me discipline is following a routine/system and sticking to it. I can teach you how to be disciplined patience is waiting for optimal conditions and holding off on trades until the last possible minute patience is also knowing when not to trade i can't teach you patience 10-21 08:13 Pete: if you are muddling around up one day and down the next I urge you to focus on one thing: make money every day and do not lose money string 5 green days together and work on patience once you have that feeling, you will want to keep it going you will work super hard to extend the steak to 6 days and 8 days and 10 days 10-21 08:16 Pete: at some point the market will breakout and you will have the confidence to take everything to the next level . .

Daily Bulletin Continues...