Services Available For Live Traders
Frequently Asked Questions Answered By The Team at Live Traders
1. The answer to the question is “absolutely!”
“Hey Anmol, I already have a job. Right? I already have a business. I don’t have the time to devote to trading full time. So can I trade on the side?”
You can absolutely trade on the side. In fact, we have thousands of students trading all over the world that have their own business, they have their own job, but they have a few hours to be able to do trading and they can still trade part time.
2. There’s two types of trading methods.
One is day trading, where you’re trading in and out every single day. Now that requires for you to be on your desk in the morning, in the trading hours.
However, if you just want to trade on the side, there’s a certain form of trading called swing trading. Swing trading is where you hold the stocks for a few days to a few weeks and you’re not really watching it every single time and every single move. You have your orders, you have your levels that you’re going to decide to get in and get out at. You are simply following that trading plan.
3. I’d be happy to introduce you to thousands of other traders in our chat room that have been doing the exact same thing.
So if you’d like to learn more about trading, if you want to get started in trading and you want to trade part time, visit livetraders.com and get started with our free Trader’s Guide to Success that you can download right now.
1. It depends on the effort that you’re going to be putting in.
I have seen some people who have really immersed themselves into the content, really dive in and really focus on learning. To those people, they get it in 3 months to 6 months.
And then there are some people who have a job and they can’t trade all the time and they only have a few hours to really devote to their learning. For them, it usually takes a little bit longer. Right? 9 months to 12 months.
1. Follow the charts.
The charts will tell you what’s going to happen, whereas the news will tell you what already has happened. By the time you look at the news or you read the news, that information’s already out there.
2. Charts will always lead and give you an advantage, a head start, whereas news will always be delayed or it will always tell you what has already happened.
“Follow the chart” is the best way you can learn because the charts will tell you what’s going to happen and we have strategies and tactics that help you foresee what might happen; and oftentimes you’ll notice that news comes after the chart has started to turn.
- Get good at reading the charts and technical analysis and that’s what will give you an edge in your trading.
- The way you can do that, the way you can learn those strategies and the way you can get good at reading the charts is by going to the website livetraders.com where you can download my free eBook. I’ll let you download it for free.
- Read it and get a good understanding of how the markets work and then you get all of our content on YouTube.
1. People think that they need to win every single trade and they need to win every single time. That is absolutely false.
No professional trader wins 100% of the time. That doesn’t exist. You cannot win every single time. There’s got to be losing trades.
2. The key to understand trading and to get good at it is to understand and be able to handle losses in the realm of probability.
Personally, I win maybe 50% of my trades or 60% of my trades. I actually lose about a half the trades that I take. A question you might ask is “Well, how do you make money if you win half and you lose half?” Well, guess what? That’s where probability comes in. When you lose – let’s say you lose $100 per trade or when you win, if your winners are making twice the loser (for example: every winner is making $200 but every loser is only losing $100) if you win half your trades you’re still right. You’re still going to be profitable.
That’s the key to understand trading – is a higher win rate is not important to become a successful trader. What’s more important is that you get the most out of your winners and you cut your losses short.
1. To answer that question, I’m going to tell you how I personally got started in trading.
I found a mentor by the name Jared Wesley who is actually now my partner. At the time he was teaching one of his programs, an online course. I was a student just like you. I attended a webinar. I signed up for a course.
2. I took a course, but here is what I did differently.
I actually executed on everything that he was teaching me. I had an open mind. I had the willingness to learn; which is again an important characteristic that you need to have as well.
- You need to have an open mind and you need to have the willingness to learn.
3. You need to be coachable.
I was coachable. I followed all of his advice and all of his strategies. He told me what to do and more importantly he also told me what not to do and the pitfalls to avoid; pitfalls such as your own emotions, right? Fear, greed, the lack of discipline, accountability… All of those things are really important in making it in trading.
- The best way to get started is to find a coach or find a mentor who already has the results that you want.
- You have to become disciplined and that’s where coaching and mentorship and accountability comes in.
1. What’s important is who you’re getting the advice from.
Make sure you know who you’re getting your advice from, and make sure you vetted the person to ensure that there are no conflict of interest.
For example, if you’re getting advice from your broker, the broker inherently has a conflict of interest built in, they want you to trade whether you make money, whether you lose money, they still get paid.
2. Make sure that the person you’re getting advice from doesn’t have any conflict of interest and that he’s willing to put in his own money behind those trade.
If a person you’re getting advice from isn’t willing to put their own money in the same trade, why should you? Right? Make sure you do that.
At livetraders.com we have a variety of newsletters and chat rooms, where we let you know what we’re doing and our own trading accounts along with why we’re doing it. Not only do you get to learn, but you also get that advice you should follow. If you’d like to learn more about that take a trial for the newsletter or the chat room, visit livetraders.com and click the learn more button or contact us today so we can set you up with a trial which will give you the best
stock trading advice you need.
- Make sure you know who you’re getting your advice from.
- Make sure that the person you’re gwetting advice from doesn’t have any conflict of interest and that he’s willing to put his own money behind those trades.
- Visit livetraders.com click the learn more button or contact us today and we can set you up with a trial which will give you the best stock trading advice you need.
1. The way you decide how to get out of a trade is to look for your reasons that you got into the trade to be invalidated.
If you got in got into a trade based on a certain reason, hey, the stock could never get above $10. Now it’s above $10. I’m in it.
But now if it comes back below $10 that invalidates your thesis. That’s one of the potential ways that you can decide to get out.
2. Exit when value of the stock starts decreasing.
When you see a stock that’s continuously up trending going up, up, up and now it’s not it’s not turning around and starts to go down. Now, that’s the reason to decide to get
3. There’s a variety of reasons that you can use in your trading to decide when to get out into the stock but it will largely depend on your trading plan.
We tell our students to decide when they’re going
to get out before they even get into the trade. You should know your exit points when you’re wrong, when you’re right. If you enter a trade and it’s going against, you should know that’s the point where you should cut that trade loose and get out of it and not let a small loss turn into a bigger one. Same thing with on the winning side, if you have a trade that’s reached your target that you thought it’s going to get to, you should be getting out of that target and
not holding on expecting more.
- Look for your reasons that you got into the trade to be invalidated.
- Exit when value of the stock that’s been going up for a while starts decreasing.
- How to get off a trade largely depends on your
trading plan. Make sure that you have it.
- We teach all about trading plans in our professional trading strategies course at
livetraders.com, so make sure that you visit our website to know exactly when to get into trade or when to get out of it.
1. Find a course that is suitable and tailored to your trading style.
The answer to that question is, it really depends on
the trading style that you want to use. If you’re somebody who’s a long term trader who wants to invest in the markets and hold stocks for a few weeks, few months, maybe a few years, that strategy is very different to somebody who wants to short term day trade and get in and out of stocks every day. You have to find that course that is suitable and tailored to your trading style.
2. A few other things to keep in mind.
- Does that course have real time support?
- Can you see those strategies that are being taught applied in real time?
3. Look for a mentor.
You also want to look for a mentor that is at the same level that you want to get to or aspire to get to.
4. Professional trading strategies course at livetraders.com, which is A to Z of trading the markets.
It takes you all the way from the basics all the way to the advanced, teaches you all the strategies you need, whether it be short term, day trading, long term trading, you know, because we don’t believe in having variety of different courses. Rather, we bundled everything
together into one course, which has 20 hours of video lessons, and comes with a manual that about 550 plus pages. Plus you’re getting real time support. And in our live trading room, you can actually see us use the same strategies in real time, as well as you can see other members using those same strategies as well. And what better way to communicate to fellow graduates of the course than in the chat room. If you want to learn more about that visit, livetraders.com and we would love to get you started on that right away.
- Find a course that is suitable and tailored to your trading style.
- Find a course that will have real time support.
- Look for a mentor.
1. You can start with as low as $500.
If you want to trade currencies, you can start with as low as $500.
If you want to trade stocks and hold them for a few days to few weeks, same thing there, you can start with as low as $500.
2. Day trade regulations.
If you want to day trade, which is get in and out of stocks every single day actively, the US regulations require you to have at least
$25,000 to classify as a pattern day trader. However, that’s only for you in the US.
If you’re outside the US, you don’t have those regulations, which means you can start with any amount.
My recommendation is more capital, the better it is.
3. The more capital you give it, the more chance you’re going to succeed. It’s called working capital.
Same thing with trading, the more capital you have the better chance you’re going to have to make it in the career. However, if you want to just get started, you can start with as low as $500. In fact, many of our members at livetraders.com started with a low amount such as $500 and then they work their way up. If you want to learn more about trading, visit livetraders.com and get started right now.
1. Good way to find right stocks to trade is look for stocks that are having trouble getting above a certain level.
Let’s say a stock is not able to get above $10. And it’s been touching $10 and coming back down to $9, just not able to get above that threshold of 10. You wake up this morning and it’s at 11. Which means that it’s above that threshold. That could be a good candidate for a stock to trade.
2. The stocks could be opening up or down for variety of reasons. One of the reasons could be catalysts, for example a news event.
Maybe a CEO stepping down, maybe it’s reporting good earnings, maybe the stock got an upgrade, maybe Warren Buffett just bought the stock. For whatever reason, stocks can clear those thresholds.
And we want to put those stocks on our watch list and wait for the correct pattern to set up.
3. At livetraders.com we have variety of courses that have patterns that we’re looking for once we have a watchlist list.
Before the market opens, we will typically go into battle with five to ten stocks, and then we’re going to wait for those patterns to set up on those stocks to be able to take that trade.
If you want to learn more about trading or learn those patterns
and the right way to find those stocks, visit livetraders.com and let us show you how.