Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. If you wanted to day trade stocks or options in the U.S., you had to abide by the pattern day trader rule, at least until now. That means if you make four or more trades in a margin account within five business days, you're considered a pattern day trader, and you'll have to have at least $25,000 in that account. That could change soon. The Financial Industry Regulatory Authority recently approved amendmen ...

Trading Performance & Strategy - Trader aimed for $20,000 weekly profit, starting the day $7,000 away from the goal [2] - Initial trading strategy involved identifying trend areas on smaller time frames, using indicators to find overvalued or undervalued areas, and capitalizing on fair value gaps [6] - Trader typically risks approximately $1,000 per position, aiming for profits of $3,000-$7,000+ per position [7] - Trading strategy focuses on early entry into potential trends, with contained risk [7][9] - Trader emphasizes keeping losses small and allowing winners to run, rather than consistently locking in profit [28][29] - Trader is considering increasing position sizes and risking $5,000 due to perceived accuracy and consistency [80] Specific Trades & Outcomes - Day trading resulted in a net profit of $8,592, contributing to a weekly profit of $21,500 [66][67] - Win rate for the day was 64%, significantly higher than the trader's normal win rate [67] - First trade resulted in a $1,500 loss due to a trend break fakeout [69] - One successful trade generated $3,000+ in profit by identifying a sell signal using a proprietary indicator and trend following [57][77] - Another trade on Ethereum locked in $1,257 profit on the front half before being stopped out at break even on the other half [75]

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We just broke underneath this critical low level. We're up about $1,600. So, [Music] normally I'd be taking some size off here and reducing risk, but this could be a big trade if we do get a little bit of momentum.So, I want to let it breathe a bit. I'm sort of waiting for price to come down and be able to touch this area, at least get us a 1 to4. [Music] All right, so we're getting a nice move down, but this area is going to be a big area for support.So, I'm going to go ahead and lock in 1300 here and leav ...

We just broke underneath this critical low level. We're up about $1,600. So, [Music] normally I'd be taking some size off here and reducing risk, but this could be a big trade if we do get a little bit of momentum.So, I want to let it breathe a bit. I'm sort of waiting for price to come down and be able to touch this area, at least get us a 1 to4. [Music] All right, so we're getting a nice move down, but this area is going to be a big area for support.So, I'm going to go ahead and lock in 1300 here and leav ...

Trading Foundations - Trading involves creating rules and strategies to filter market data and generate profit over time [6] - Success in trading is not about being right, but about managing risk and reward, with win rates as low as 36% being profitable [7] - Traders analyze market data to identify areas where price is likely to change direction, aiming to make 5x the risked amount [7][8] - Key tools for day trading include Trading View for charting and analysis, brokers like Blowfin or Bybit for crypto, Topstep for stocks/futures, and a trade journal for data input [13][14] Technical Analysis - Identifying trends using trend lines helps determine potential areas for price reversals [27][28] - Fibonacci retracements (236%, 382%, 50%, 618%, and 786%) are used to find key levels for potential price reactions [31][32] - Fair Value Gaps, identified by gaps between candle wicks, indicate high-impact zones for potential entries [37][38] - Trend-based Fibonacci extensions, combined with five-wave patterns, can help predict the tops of trends [41][43] Trading Psychology and Risk Management - Trading success relies heavily on mindset, understanding that being wrong on a trade doesn't make it bad [45][47] - Risk management involves setting stop-losses and calculating position sizes to maintain a fixed risk factor, such as risking $100 per trade [51][52] - Even with a low winning percentage (e g 30%), profitability is possible by allowing profits to run and maintaining a good risk-reward ratio (e g 36%R average win) [59][60] Strategy Building and Testing - Building a trading plan involves observing patterns, creating a rule book with entry criteria, and testing in a simulated environment [67][68] - Backtesting using bar replay mode on Trading View and a trade journal helps quantify the strategy's winning percentage and average win/loss [70][71] - Paper trading on an exchange with demo funds allows for real-time execution in a simulated environment before risking actual capital [78][79]

One of the big rules of day trading is you always want to be eliminating risk as well. So what I'm doing now is basically dropping my stop loss down so that if price comes up and retests this area here, I'm going to get out for basically a break even trade. Okay.And the reason for that is as soon as the trend does this comes up, now you have this low basically to break and have a candle close below in order to confirm that you have a lower low, a lower high, lower low, lower high, and then a continuation mo ...

So, I was watching this trend and was able to get filled right on this important fair value gap area into my critical resistance area here as well. Okay, so just off of this trade, I was able to lock in 4162. [Music] All right.So, it's about 8:45 in the morning right now. Market opens at 9:30, which is where all the movement is going to start. So, what I'm doing as a day trader now is trying to figure out generally which direction I think the market is going to move.So, it's my job to basically do analysis ...

With Trump's tariffs dumping the markets, let's see if I can day trade it. It hit my 4K profit goal. All right, so first trade of the day.I'm getting in on this fair value gap. I'm going for big wins today. It's edging my stop loss.First trade out of the gate was a loss. Starting to get that first candle to respond, which is what I want to see. I'm going to go ahead and reduce risk to break even.All right, so I'm in right at this level. I want to see immediate flip. We got a really nice initial move down.I ...

Core Insights - The isolation experienced by day traders is a significant aspect of the profession, often viewed as a necessary evil for financial success [1][7] - A 2022 study indicated that crypto traders and users of real-time investing platforms reported higher loneliness scores compared to traditional investors [2] - The rise in interest for day trading groups is partly attributed to the loneliness felt by traders, as noted by industry leaders [3] Group 1: Loneliness in Day Trading - Day trading is described as a "very lonely sport," akin to individual sports like tennis or golf, where traders often work alone [4] - Many traders, including those aspiring to go full-time, accept loneliness as part of their trading journey, focusing on long-term financial goals [5][6] - The time commitment required for market analysis contributes to the isolating nature of trading, especially for beginners [6][7] Group 2: Community and Support - The creation of platforms connecting traders with mentors stems from the need to address loneliness within the trading community [6] - Successful day traders often do not discuss the loneliness associated with their work, highlighting the solitary nature of the activity [7]