Disciplined Approach to Learn Day Trading

I’ve been trading stocks (swing trading) since 2015 (mostly known in RLT for selling naked puts on growth stocks) and I recently decided to revisit day trading. So here’s my learning plan, I’m going to take a disciplined approach:

Every morning, I have to get my mind right. I will run a 5k (3.2 miles) which takes about ~30 minutes, I usually listen to a podcast or interview, like David Goggins talk about mental toughness.5 stocks max on watchlist. Probably 2-3 stocks that are gaps and 2-3 stocks I find from my intraday scanners.At the end of the day, I’m going to back trade whatever was on my watchlist, whether I took the trade or not, so I have to think long and hard about what 5 stocks go on the watchlist.At the end of each week, I’m going to back trade that weeks worth of trades I took all over again but note what I did right and wrong and build my start/stop/continue list. What’s that? Things I need to start doing, things I need to stop doing and things I need to continue doing. It’s a life hack I learned years ago.At the end of each month, I’m going to spend an entire weekend re-trading the whole months worth of trades and use a 5 point scale to create a report card for the month on how I did based on the following 1) quality of setup, 2) quality of entry, 3) quality of exit, 4) how well I managed risk. 5) how well I protected gains.

I plan to record more videos and share my progress over the next many months. So if you are an experienced day trader or an experienced swing trader learning to day trade, I invite you to build a disciplined plan to win. 

MINDSET: You have to get to a place where you are mentally thinking about this like you are on your way to becoming a day trading olympic athlete and this is a lifestyle, not a hobby that you do an hour a day, it needs to be the first thing you think about when you wake up and the last thing on your mind when you go to bed. You need to think about nutrition, exercise and mental toughness and all the things that olympic athletes go through to get to their level.

Thanks & remember, love life, live life & trade it!

(Matt DeLong)