(Course #46) ST 107: Day Trading Stocks - Part 2
Snowpal Education: Trading carries significant risks and is not suitable for everyone. Picking the right stock is a complex process. Create portfolios to track specific industries or stocks.
In this course, Krish Palaniappan delves into the advanced strategies of day trading, building upon the foundational knowledge from the previous course. He emphasizes the importance of understanding the risks involved in trading, the process of selecting securities, and the significance of structuring one's trading day effectively. The course also covers the creation of portfolios tailored to trading strategies and the various methods for picking stocks based on market sentiment and news. Additionally, Krish discusses the challenges of multitasking while day trading and offers insights on how to manage time effectively during trading hours.
Krish discusses various aspects of day trading, focusing on the importance of setting alerts, understanding trade direction, and the role of hunches in making trading decisions. He emphasizes the need for fluidity in trading rules, the significance of stop losses, and the impact of market volatility and trading volume on trading strategies. The conversation wraps up with a recap of key points and a preview of future discussions.
Takeaways
Trading carries significant risks and is not suitable for everyone.
Picking the right stock is a complex process.
Structure your trading day into manageable sessions.
Create portfolios to track specific industries or stocks.
Market sentiment can influence trading decisions.
Discipline is crucial for successful trading.
You can choose to focus on one stock or multiple stocks.
Multitasking can complicate active trading.
Define your trading strategy based on your availability. Setting alerts is crucial for staying informed about market changes.
Too many alerts can create unnecessary noise in trading.
Understanding whether to buy or short is vital for trading success.
Trusting your instincts or hunches can influence trading outcomes.
Trading rules should be flexible and adaptable to changing circumstances.
Dollar cost averaging can be applied to day trading strategies.
Implementing stop losses is essential to minimize potential losses.
Market volatility can significantly impact trading decisions.
High trading volume often correlates with increased market activity.
Flexibility in trading strategies is necessary for long-term success.
Chapters
00:00 Introduction to Day Trading Level 2
01:31 Understanding the Risks of Trading
03:26 Picking Securities for Day Trading
06:53 Structuring Your Trading Day
16:28 Creating Portfolios for Trading
20:16 Strategies for Picking Stocks
25:05 Multitasking in Day Trading
28:16 Setting Alerts for Trading
30:06 Understanding Trade Direction
32:39 The Importance of Hunches in Trading
34:33 Fluidity of Trading Rules
39:12 Investment Amount and Dollar Cost Averaging
40:11 The Role of Stop Losses
43:25 Market Volatility and Its Impact
51:00 Trading Volume and Its Significance
56:04 Recap and Next Steps
Length: 58 minutes
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