today I want to talk about what I think
is going to be your biggest enemy really
the biggest enemy for any new day trader
there's a lot of the enemies when it
comes down to the stock market and
things you got to work on but this thing
will get you killed
not only in day trading but also in real
life and I wanna talk about this idea
also something that I've been working on
something that I've been very focused on
lately and you might be able to see it
from my videos from my actual trading
why I'm buying when I'm buying some like
that I've seen people leave comments
talking about how I've improved this the
work that I've put in might be paying
off day trading emotions and how you
really need to fight hesitation
hesitation in day trading do not go
together I'm gonna break down the battle
between hesitation and waiting and
having patience and all of that in this
video so make sure you stay tuned day
trading hesitation I talk a lot about
the technical idea of day trading
support resistance and all of that fun
stuff but really at the end of the day
you got to be able to pull the trigger
you know pew pew you got to be able to
pull the trigger to shoot bullets or at
least that's the idea behind a gun but
really when it comes down to it if you
want to make a trade you got to be able
to get in to the trade at the right time
and get out of the trade and the actual
process of getting into the trade
getting out of the trade is always gonna
be the battle that every single day
trader has to go through but really you
have to focus on being able to identify
the opportunity and then also being able
to take that opportunity which was
actually one of my big problems in the
past what I was doing was I was
identifying an entry and then that entry
would get there I'm gonna cut to an
animation just to give you a better idea
good scenario here I look at a stock and
I told myself I want to buy at 2 dollars
and 50 cents the stock is currently at 2
dollars and 70 cents the stock starts to
pull back it goes to 2 dollars and 50
cents I hesitate and I don't pull the
trigger and now the stock is at 260 and
before you know it the stock is now back
at 270 and what do I do now
that I have confirmation I already had
the plan I already had the idea in my
brain but I wasn't able to pull the
trigger because I hesitated and I missed
out on the dip by but now the problem is
I'm going to chase it after the
confirmation my brain is then telling me
oh now it's safe to enter and what am i
doing I'm chasing the sock so instead of
getting in at 2:50 I'm now buying the
stock 15 20 cents higher than my
original entry which now changes the
game
my original entry was 250 my original
profit target was 270 now I'm buying
close to 270 which was that previous
resistance and what happens I get dumped
on and the stock pulls back to 250 I get
out for a loss and guess what
once again the stock bounces off that
$2.50 support and goes back towards 270
over time you're going to gain
experience you're going to learn how
these stocks move up down up down and
how they move and waves you're gonna see
the opportunities before they happen but
the problem is you're not going to be
able to execute you're going to hesitate
and you're going to need that
confirmation before you're able to jump
into the trade and what you're doing is
you're basically invalidating
that original entry by telling yourself
to wait for that bounce which you
already told yourself it was gonna
happen now obviously it's not always as
easy as just telling yourself I'm gonna
buy here and you're gonna wait for that
entry and you're gonna take it at the
end of the day it comes down to just
really being able to read level to read
time and sales read the overall chart
and in time you're going to build that
experience is start but the worst thing
that you can do is start to see
opportunities see setups and not take
them and then once those setups are no
longer valid you're chasing the stock
because you're telling yourself oh yeah
it bounced off my original entry it's
going higher but what are you doing
you're buying at a higher price and now
you're really changing the whole entire
trade so instead of buying a 250 with
your stop at 240 now your Buy
to 70 with your stop at 240 and the risk
is much higher so it's really important
to not only focus on how to read a chart
but it's also really important to build
that confidence build confidence in
yourself over time with that experience
one of the things that you can do is
just sit there in front of the screen
find stocks find setups and tell
yourself okay this is how it's gonna
move draw lines on the chart figure out
a setup so if the stock is at five
dollars and you're telling yourself I
want to wait till 480 to buy and start
you to see the setups before they happen
and the more and more that you see them
the more and more confidence you can
build in your skill in your experience
of the better the trader you're going to
be because at the end of the day if
you're not able to capitalize on setups
and you don't have the confidence to buy
at the target and you need that
confirmation like I said you're adding
on a lot more risk than you really need
the big thing with buying it's always
gonna be difficult to buy right at the
bottom it's always gonna be really
difficult to sell right at the top at
the end of the day you have to believe
in your edge you have to believe that
you're able to find opportunities and
you're able to execute the plan
buying the dip at 250 getting in there
even if the stock pulls down a little
bit more you can see what's going on you
can see level 2 you can see time and
sales you can see the overall chart and
over time you're going to see this more
and more a lot of people will say you
know I risk a lot to only gain 10 cents
but the thing for me is if I'm buying
the dip if I'm buying their 250 I'm not
planning on the stock only giving me 10
cents I obviously would like to go a lot
higher for the same time if I enter a
trade I also need to be able to take
profit with no hesitation again I'm
watching level 2 I'm washing the time
and sales I'm watching for that stock to
slow down at my target area to buy and
then when I get into the trade if the
stock starts to move higher but then
starts to slow down to the upside then I
need to tell myself hey I'm taking a
profit here I'm not waiting for this to
pull back down there and drop on me
that's not to say the stock can go
higher later that's not to say the stock
can't just go straight to the moon but
the end of the day hesitation is going
to kill you has it
in life hesitation day trading if you
hesitate to ask your dream girl on a
date there's a good chance of some other
guy is going to ask her even if you put
in all the work you spend all the time
you have the plan if you can't ask your
dream girl on a date she's never gonna
say yes and that's really the big issue
here is hesitation hesitation in life
hesitation in day trading hesitation
just in general hesitation across the
board hesitation I feel like this video
now is just a video about hesitation in
general but really when it comes down to
it that's one of the big things that
I've been battling over the last couple
months with myself is I was able to find
the opportunities I was able to find the
entries I was able to find the trades
but I hesitated and then I would wait
for that confirmation and at the same
time I was basically hurting myself
because I was adding the risk on so
instead of buying at my original 250 or
waiting for that pullback I would chase
it or I would buy higher than my target
and then I'd end up getting dumped on
and the stock would do exactly like I
had already planned like I had talked
about in the video like the video today
I talked about my entry 20 minutes
before it came and when the stock pulled
back to my entry when in the setup
appeared I had to take the trade and I
didn't even think about it I didn't
think that the stock could go lower all
I could think about was hey this setup
is there I'm taking the trade if it
doesn't work out I'm gonna cut it off
and I'm gonna get out and that's really
what it comes down to being able to have
no hesitation obviously you want to make
sure that everything is lining up that
the support is there the balance the
target all that stuff you know you got
to make sure that's all but really the
worst thing you can do is wait for that
bounce wait for that confirmation and
then end up jumping in ten twenty cents
higher and then the stock pulls back you
get out and the stock then goes exactly
like you had planned the more time you
can spend just in front of the computer
screen looking at charts looking how
stocks move and being able to identify
entries and building that self
confidence it's gonna make you a better
day trader Bob who asked me how do they
overcome the fear of actually pulling
the trigger of actually getting into the
trade and that really just comes with
time it comes
with experience and like I said just sit
there and tell yourself tell yourself
okay
this stock is gonna do this it's gonna
go there and it's gonna go there and
start to do this over and over just
spend time not even placing trades but
just sitting there on the computer
watching these stocks the setups that
you normally treat just spend a couple
hours a day
just looking at the chart and planning
out a trade and building that confidence
to the point where you're like wow I was
right on point when it came down to it I
was able to identify exactly how that
stock moved before the move and with
time you're going to be able to build
that confidence in yourself and that's
really what I needed to do building that
self confidence to the point that I'm
able to not hesitate I'm able to get in
I'm able to get out and take profit and
walk away and that's really what it
comes down to when you're day trading
you're not gonna be able to buy the
exact bottom but when the setup appears
when you tell yourself hey this is where
I'm buying it this is my plan this is my
overall trade when the setup appears
when all the boxes are checked when
everything is aligning for your setup
you have to take a trade and you have to
be able to build that confidence build
your confidence to the point that you're
able to take a trade with no emotion
with no hesitation in out in out in now
and do it over and over and over where
you buy and you sell and you don't think
twice no hesitation no hesitation in
life no hesitation and day trading self
confidence in your skill in your
experience in the work that you put in
having that confidence is going to be
one of the most important things that
you can do for your day trading for life
in general but really for date written
you have to have confidence in the setup
when you have your target in sight you
have to be able to pull the trigger
hesitation it will destroy your day
trading account it's not because you
don't know how to trade it's not because
you don't know where to buy it's because
you're hesitating and you're not taking
the trades that you're able to identify
so find stocks that you're able to read
identify the setups and then take them
even with small sizes small size small
size over and over and over to the point
you're like wow and that was my big
issue I just wasn't able to pull the
trigger and then I
get that confirmation and I would chase
the stock there it is
hesitation are you hesitating think
about it when you see a setup are you
able to pull the trigger
do you wait do you then chase the stock
you get it at a higher price and then
you sell for a small loss and then the
stock does exactly what you thought it
would do I see this a lot I used to do
it a lot where I would basically buy a
stock chasing it and then I would sell
for a loss and stock would go exactly to
where I planned already but because of
my entry because of my hesitation I
wasn't able to really take the real
trade that was there I was kind of just
buying in the middle and I was in and
out and just didn't work out really
focus on your execution focus on
hesitation or move hesitation if you see
the setup take it take it take you think
you take it if you guys haven't already
do me one big favor I'm not sure why
you're hesitating
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subscribe button leave a comment below
have you had problems with hesitation in
the past I'm sure you have I've had a
lot of problems with hesitation myself
and that's one of the big things that
I'm working on right now I'll talk to
you guys later on