Day Trading for Beginners
Welcome to "Day Trading for Beginners," hosted by Tyler Stokes of StokesTrades.com. This podcast is a real-time chronicle of my journey into the world of day trading, starting from the very basics. As I navigate this new venture, I invite you to learn alongside me, sharing both the triumphs and challenges that come with becoming a proficient day trader.
In "Day Trading for Beginners," you'll get an authentic, behind-the-scenes look at what it really takes to succeed as a day trader. Each episode is designed to demystify the process of day trading, breaking down complex concepts into manageable, beginner-friendly lessons. From the initial decision to trade, to setting up the right tools and strategies, this podcast covers it all.
What sets this podcast apart is its focus on learning through experience. As a seasoned affiliate marketer and entrepreneur, I approach day trading with a beginner's mindset, offering unique insights and honest reflections on each step of the journey. Whether it's dissecting YouTube tutorials, exploring online resources, or delving into technical analysis, I bring you along for every part of the process.
Listeners can expect:
- Practical insights into starting and succeeding in day trading.
- Honest reviews of resources, tools, and strategies.
- A step-by-step guide to building a solid foundation in trading.
- An engaging narrative of my personal day trading journey, including the ups, downs, and everything in-between.
"Day Trading for Beginners" is more than just a podcast - it's a community for aspiring traders to learn, grow, and succeed together. Join me, Tyler Stokes, as I take on the challenge of mastering day trading, and let's embark on this educational adventure together. Subscribe now and be part of this exciting journey!
Day Trading for Beginners
How Your Mind Sabotages Your Trades: Unlocking the Psychology of Successful Trading
Welcome to season 3, episode 11 of the Day Trading for Beginners Podcast! In this episode, we talk about the critical topic of trading psychology, exploring a powerful quote from Jared Tendler’s book, The Mental Game of Trading: “The charts are a mirror that reflects your inner self.” We discuss how your emotions, biases, and mental blocks shape your trading decisions and how Tendler’s system can help you turn psychological flaws into strengths.
Resources Mentioned:
Our Free Community on Skool: Come join us here - Skool.com/trading
Key Topics Discussed
- Introduction to Trading Psychology
- Why technical know-how isn’t enough—your mindset can make or break your strategy.
- The importance of joining our free Skool community (skool.com/trading) to learn and share experiences.
- Overview of The Mental Game of Trading by Jared Tendler, a top mental performance coach who applies lessons from competitive golf to trading.
- The Quote: “The Charts Are a Mirror That Reflects Your Inner Self”
- Charts provide objective data (prices, volume, trends), but your reactions reveal emotions like fear, greed, or hesitation.
- How your internal world—biases, past traumas, or impulses—distorts your interpretation of market data.
- Using charts not just for market analysis but as a tool for self-reflection to turn losses into lessons.
- Jared Tendler’s Approach
- Tendler frames common trading mistakes (chasing, overtrading) as psychological, not technical, issues.
- Emotions like greed, fear, and anger are root causes of trading errors.
- Practical tools like journaling, visualization, and mapping emotional patterns to build mental resilience.
- Treating emotions as data to identify triggers and correct flaws.
- Real-World Examples
- Example 1: A trader hesitates during a breakout pattern due to fear from past losses, missing an opportunity and feeling frustrated (“tilt” in poker terms). Tendler’s system suggests journaling emotions and using pre-trade routines to build confidence.
- Example 2: An overconfident trader takes an oversized position on a head-and-shoulders pattern, amplifying losses. Reflection reveals a need for validation through wins, not strategy.
- Actionable Tips to Apply Tendler’s Philosophy
- Journal Your Feelings: After each trade, note how the chart made you feel (stressed, excited, etc.) and compare it to the objective data (price, volume).
- Spot Emotional Triggers: Identify chart patterns (e.g., sudden drops or breakouts) that spark fear, greed, or FOMO (fear of missing out).
- Stay Calm with Visualization: View charts as neutral tools, like a mirror, to avoid emotional reactions.
- Maintain Emotional Balance: Avoid overtrading or overconfidence by keeping a steady, patient mindset.
- Why This Matters
- Trading success starts with mastering your psychology. By confronting emotions like greed, fear, or doubt, you can unlock consistent performance.
- Tendler’s tools offer a clear, actionable path to gain a psychological edge, whether you’re a beginner or expe
Website and Other Social Accounts:
https://stokestrades.com/
https://www.youtube.com/@StokesTrades
Join Our Free Community on SKOOL:
https://www.skool.com/day-trading-for-beginners