Welcome to JayTradingLive.com. I'm Jay. I am a trader. Day trader. Swing Trader. Options trader. I look for solid stocks to set up in reliable patterns and take the trade when indicators are triggered with the goal of capturing a short term profit. That could be an intra-day trade or it could last the course of several days up to a couple weeks. It all depends on how quickly the stock makes its move and how long the stock continues to move in my direction.
My method of trading predominantly uses the Daily and 60 Minute chart. I do consult shorter term charts to gauge the health of a stock and to confirm that an entry or exit is solid, but I donít jump in and out of trades throughout the course of the day. That to me is insanity. That makes trading a frantic job and it will quickly burn you out.
I like to use a style of trading that keeps me relaxed, focused and disciplined. I only take trades that I have the upmost confidence in working out. And I typically have no more than 3-5 trades going at any given time. While those trades are working, I am able to scout for new high-probability set-ups. This constantly keeps my money and my time working together wisely. You may trade more or less, it is all about establishing your own comfortability in the market. If you do like to take on more trades, there will certainly be plenty of set-ups on the list for you to take.
I trade in even dollar increments. For example, I will buy 200 shares of a $50 stock or 400 shares of a $25 stock or 115 shares of an $85 stock. In each of these trades there is roughly $10,000 at work. That is a good way to keep your account in balance and easily recover should one of your trades take a quick, steep unexpected dive. I never go all in on one single trade. This is explained further on the Day Trading 101 page but itís just a smart, safe way to trade.
There are many other rules, tips, tidbits and observations I will be posting as general market commentary and in the charting videos. I just wanted to mention a few of the trading basics that I adhere to so you can get a feel for how I approach the stock market.