How To Day Trade Profitably and Without Stress
Dear Trader,
My Father was a trader, so I grew up with trading all my life. However he was primarily a swing trader, and he traded back in "the day" before the markets went electronic.
When I decided to begin day trading professionally, I had a steep learning curve in front of me.
I spent over $50,000 on courses and personal mentors ... and after all of that I still didn't have a profitable approach to day trading.
It took many years of trial and error ... and losses, until I came up with my methodology. An approach deceptively simple, yet extremely powerful (meaning "profitable").
I know what it's like to go through extreme frustration, searching for a trading approach that does one thing: Makes Money.
Therefore I decided to start this lens to "pay it forward," and for that reason, I'm giving away one of my favorite trading setups: "The Rubber Band Trade."
It's one of my favorites for a simple reason ...
IT'S A CONSISTENT MONEY MAKER!
You'll get it on day 4 of my free 5-Day Video Mini-Course:
Make Money by Breaking Every Trading Rule You Ever Leaned!
Professional traders know the traditional rules taught in books and courses ... The rules amateurs use. The pros turn these rules on their head to make money off you.
*Buy when the market's going DOWN.
... Sell when the market's going UP.
*Head and Shoulders Patterns will bury you
... unless you know this ONE tricky secret not taught in books.
*The trend is NOT your friend ... And I can prove it!
*Double Tops and Bottoms are TRAPS for amateurs.
TO RECEIVE THE EXACT RULES FOR MY FAVORITE SETUP: "THE RUBBER BAND TRADE," your free subscription to my newsletter and the 5-Day Mini-Course, simply go to my BLOG and fill out the short, easy form in the right column at www.TopDogTrading.com
Trading Video
Moving Averages Give Structure
It's very difficult to see patterns or make out any structure to the market by simply looking a price bars. Applying Moving Averages to a chart can help your eye see the "stucture" of the market.
Runtime: 8:18
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10 Comments:
"ASK BARRY"
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Yep, that's right. I personally answer all trading questions that you submit.
What a guy!
What's more important: Trading Method or Trading Psychology?
Analysis or Analyst. Which is the Key to Success?
Ancient argument:What determines success in trading:
1. A successful methodology
2. Psychology and discipline?
Answer: BOTH!
But this is not a "chicken or egg" dilemma. Clearly in this case method comes before mind.
It doesn't matter how much self-discipline you have ... If you don't have a viable trading methodology, then you will lose money.
So method is more important.
Well, maybe "more important" isn't the right phrase to use. But it definitely comes first.
The reason I say it may not be more important is because there are many valid trading methodologies available. Yet ironically, traders keep jumping from one method to another ...
* one indicator after another
* one book after another
* one mentor after another
* one seminar after another
This is the infamous "search for the Holy Grail."
Sorry ... doesn't exist.
Like most things in life, people keep looking for the answer outside of themselves, when the answer was inside of themselves all along.
Like Dorothy in the Wizard of Oz ... You had the power all along.
Okay, we've all heard that the psychological aspect of trading is the key to success. But HOW do you tap into it?
There's only one way I know.
Though the hard work and the daily drudgery of keeping a trading log of every trade you take.
By recording, and reviewing every trade you take (along with the ones you didn't take, but should have), you'll learn more than from any book, seminar or video.
This feedback mechanism is the key to success.
Like all subjects of Master:
You begin by adding. You need to acquire the information, the principles, and rules of successful trading.
After you spend a long time accumulating all the information, then you strip it away. You simplify until you find an approach that works for you.
Then you simplify further by eliminating your mistakes.
Someone once told me: "Successful trading is simply a business of not making mistakes.
We're not aware of how many mistakes we're making until we keep a trading log of every trade, and then review it every day and again at the end of every week.
I haven't met a trader yet, who following this discipline, hasn't been absolutely amazed at what a large percentage of their trades broke their own trading rules (the definition of a "mistake").
Beginners work on trading.
Masters work on themselves.
- Dr. Barry Burns
Day Trading Links
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- Free 5-Day Video Day Trading Course
- 5 Free Videos: One-a-day for the next 5 days demonstrates how the pros make money off the amateurs and why most of the traditional rules of trading don't work.
- Top Dog Trading Blog
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- THIS IS A MUST-SEE VIDEO. I LOVE THESE GUYS! MY HIGHEST RECOMMENDATION.
- Emini Day Trading Stocks, Futures and Forex Knol
- A Knol about Day Trading all markets. Great, objective information. Very balanced approach.
- Make Money Selling Trading Courses Online
- Make huge commissions selling excellent trading courses on the Internet.
- Day Trading Internet Hubb
- Free videos and articles on Day Trading. Has very high recommendations from readers.
TRADERS POLL: Place Your Vote Here and See What Others Are Saying.
What Is Your Biggest Day Trading Challenge?
I often ask people: "What's your biggest trading challenge?" And the answer I get 90% of the time is ... "I'm not making money!"
While that's certainly the bottom line, we must dig a tiny bit deeper and ask "What are your struggling with, that's preventing you from being profitable?" If you can answer that, then you can find a solution .. and then you're on your way.
Have ideas for more poll questions? Let me know by entering them in the Guestbook below.
When You Love Too Much
Overtrading ... The Kiss of Death.
What is the biggest problem most traders face? I haven't taken a formal survey (feel free to take the poll in this lens and maybe we'll get a more official answer), but I would guess it is:Over trading.
We don't really trade for the money. Oh sure, the money is great, and we do want it, and it is thrilling.
But there are many ways to make money. We choose to do it through trading because we LOVE to trade.
That's good.
And bad.
It's wonderful to pursue your passion. But when it comes to trading, too much of a good thing leads to failure.
Learn from the Cheetah.
The Cheetah waits and waits and waits in the tall grass. It doesn't pursue the prey, but rather it just sits silently and perfectly still waiting for its prey to come to it.
It can wait for loooong periods of time.
Perfectly still.
Perfectly quiet.
Boring.
And it doesn't attack the strongest prey. It's not interested in a fair fight. It wants the weakest one that's limping across the field.
Because the Cheetah isn't in it for sport. It's in it for survival.
It's the same with us as traders. If you want to truly make money at trading, it isn't going to be as action packed as you first imagined.
The best trades come by waiting for the weakest points in the market ... the times that don't happen very often, but when they do occur, the odds are clearly stacked in your favor. The rest of the time you just wait and wait and wait ... coiled like a cat ready to pounce.
Dr. Van Tharp once said: "Good trading is boring."
So how do you deal with the need for "action?"
You seriously and deliberately need to structure it into your life in another way, so you aren't even tempted to get that need filled at the trading screen.
When I first heard someone say you can't treat trading like a video game, I didn't believe them.
Tens of thousands of dollars (lost) later, I decided they were right!
Like most traders, I had a need for action, so I deliberately went out and bought an XBox!
That worked pretty well. So now I upgraded to a PS3!
I took it pretty literally. You may not like video games, but if you have a need for "action," then you'll do yourself the biggest favor by getting a hobby that gives you all the action you can handle so when it comes to trading, that need has already been satisfied and you patiently wait for the perfect time ... and let the amateurs have all the other trades.
- Dr. Barry Burns
Sign My Guestbook and Get a Link to Your Site.
Please Sign My "How To Day Trade" Guestbook
Thank you for visiting my day trading lens. I hope you enjoyed the free video here, and that you also take advantage of my free 5-Day Trading Course.
Also, if you have any questions you'd like to see added to the "TRADERS POLL" above, this is the place to suggest them.
MAK wrote
Entry and exit points are the problems for me.
Posted July 06, 2009
HARRY GANDHAM wrote
HI DR BURNS
THANKS FOR THE VIDEOS BUT I STILL AN NOT GET THE RIGHT ENTRY AND EXIT POINTS
Posted July 02, 2009
rmyskd wrote...
Thanks for sharing your knowledge. Lots of things to learn from you on stock Trading. I just started to read & will continue%u2026
Chamil
Posted June 22, 2009
Bridges-B wrote
Your course opened my eyes to what I was lacking in my trading. I combined your methodology with 2 of my favorite indicators and it has turned my trading around. Mine was a case of not being able to see the forest for the trees, but now I have a greater understanding of what the market is doing and where it wants to go. Before, when I would trade, I would struggle to breakeven or make a
small profit and by the end of the day I was exhausted. Now my entries are easier and I make less trades but I have a higher degree of confidence in the trades I do make, by the end of the day I am not nearly as tired and usually come away with a profit. Thank You
Posted June 18, 2009
Steve wrote
The Top Dog teachings and strategies leave "no stone unturned". The key for me is the money management and exit methods. This puts me in the best frame of mind to capture the bigger moves with the last exit. All I can say is Wow!.
Posted June 08, 2009
maxe wrote
Another few quality articles by the doc. Personally i find it much better playing poker all day (and night!) whilst waiting for suitable trades, if video games do it for you, great. I play low level games of poker to keep my mind going then, BOOM a suitable trade pops up........love it!
Posted June 07, 2009
DON wrote
Hello Barry,
I have read all the articles you have written and I go back and reread them to just refresh my myself. Very informative and educational.
Don
Posted June 01, 2009
BarryBurns wrote...
in reply to vernon paul I did a webinar that gives an overview of my entire methodology. We recorded it and there are a lot of great pointers in there for you. You're welcome to view it here:
http://www.topdogtrading.com/TopDogIntroWebinar.html
Posted May 27, 2009
BarryBurns wrote...
in reply to Nathan Nii Ernest Please send an email to our support team at barry@TopDogTrading.com with a detailed explanation of exactly what happens when you try to open the video and they will help you troubleshoot it. We tested the video on this end and it's working fine here.
Posted May 27, 2009
Nathan Nii Ernest wrote
I have been expecting a clearcut trading principle as you promised about "RUBBER BAND" but it eluded me because all efforts to open the 4th. day course which includes the said Rubberband were to no avail.
Posted May 27, 2009
vernon paul wrote
I am mostly trading on the S&P 500,Your video on the 5 Energies is very powerful it is helping me a lot on my trading strategies. please give me some more points so that if purchase your video it will be very sucessful for me.
Posted May 10, 2009
Shreyas Bhatt wrote
Hi Barry,
I am enjoying your videos and learned quite new things about Double Bottom/Double Top/Head & Shoulder patterns that I didn't know before! The rubber band trade was quite interesting.
My challenges as of now as a day trader are:
1) Temptation of not following the plan and take the profits early.
2) Impulse Trading
3) I need more insight on how to trade Fibonacci setups for S & P eminis.
Thanks,
Shreyas
Posted May 06, 2009
Dick wrote
Am getting quite an education reading your site. Keep it up.
Posted April 23, 2009
Joe wrote
Thanks Barry, I am a newbie trader and appreciate the advise you offer on your blog. Right now I feel I need a better understading of the moving averages and how they work. If you could advise on this I would appreciate, Thanks again, Joe
Posted April 18, 2009
Ray Vora wrote
Thanks for the free videos. They were great. Your teaching style is excellent and I learned a lot. I day trade e-mini S&P only and the results are always full of ups and downs. I know it does not exist, but continuing to look for a viable Holi Grail methodology or something close second!.
Posted April 16, 2009
allen doyle wrote
[in toreply to BarryBurns] to me trading is about one thing a well thought out PLAN ,if you write out a plan then test the plan if it dosent work , well its a poor plan then go back and re do the PLAN untill i works ,,, a student is some one looking for a teacher,, so find one, BUT a good one,,, ALLEN IN CANADA,,
Posted April 11, 2009
BarryBurns wrote...
in reply to Rudedog
Thanks Rudedog and congratulations. Glad I could help. That's what keeps me motivated to keep sharing.
Barry
Posted April 11, 2009
Rudedog wrote
I have spent years, man hours, and money looking for the right course that fit with my personality and my particular style of trading. For the longest time I have been "right there" in terms of almost moving from being a break even trader to a profitable one. My setups are similar to yours, but I never put the whole package together in terms of "seeing" trend, momentum, and cycles work together in one cohesive fashion. Your material and videos have now moved me into the profitable trader category and I cannot thank you enough.
Posted April 10, 2009
JohnandKaty wrote
Good stuff, Dr. Barry. I'm a beginner. I watched your free 5-day video course and learned quite a bit, but haven't yet jumped into your other course because I'm right in the middle of another course by one of your competitors that I already paid for, which lasts for another four weeks. I may be back soon for your course, though.
Posted April 08, 2009
juddandkarin wrote
thank u very much for the free tape, it all makes sense, all i have to do is apply it properly,,gigglezoom
Posted April 02, 2009
optionzone wrote...
Five stars, Doctor. Thanks for the great lens and resources.
Posted March 23, 2009
desmond wrote
great teaching..Dr. Barry you rock.Thanks alot.
Posted March 18, 2009
maggie wrote
Dear Dr. Barry,
I am impressed by the clarity, and substance of your trading videos.
Hopefully , one day I able to buy a copy of your trading course.
Your efforts are much appreciated.
Posted March 17, 2009
ken wrote wrote
Wow!! the 5 free videos really opened up my eyes a lot with such a simple explanation of trading and a trading methodology...feel like I wasted a lot of $ on complex systems already...takes a very intelligent person to convert something seemingly complex into something very simple..thanks already Barry from the bottom of my heart....but .would like to see your comments on charts emailed/posted for clarification and support to further help your students succeed
Posted March 14, 2009
daytradingitalia wrote...
Well Done Man.
If you have time check out my brand new lens:
http://www.squidoo.com/Trading-Online
Posted February 26, 2009
deskjockie wrote
took your course; am now making 2% average increase per day. I like how you started out with the very basic principles and then built on those. Excellent exit technique that really saves a LOT of money by keeping the losses small and letting the profits run. I would recommend your courses to anyone.
Posted February 23, 2009
menaj wrote
in reply to GatorTrader !!!?
Posted February 21, 2009
fabian wrote
You Speak in simple terms, easy to understand,,thats great, i have learnt to be patient with your help.
Posted January 25, 2009
Harlan Cooper wrote
Hi Barry, I plan on putting strong positive blurb on the Elite Trader forum site. You really have achieved something incredible in your course.
Many thanks
Harlan
Posted January 24, 2009
Greg wrote
Barry I am a student of yours and would like to say thank you for all your personal help. I know you have done this before but please do a video on the entrys one more time. To everyone else take Barrys course you will be happy you did.
Posted January 21, 2009
Lewis wrote
Thank you very much Barry for all the information you share with us!
My question is:
How far do you think the pound sterling is going to drop and do you think it is good to buy as I don't think it Is going to be scrapped and taken over by the Euro!
Thank you very much!
Posted January 21, 2009
mohamed wrote
yes this is a vary good course but i trade in ftse100 so i had to make a little intervel change
but follow the burrys methelodigy it is working very well thanks to burry
Posted January 19, 2009
Gangadher Kulkarni wrote
I am intraday as well as swing traders I thank for the information given by you it is very important for me to understand the trading and trades
Posted January 17, 2009
Barry Burns wrote
Thanks everyone for the great comments. Let me know if you want me to address anything in particular about the markets as I'm getting ready to add more content.
Posted January 04, 2009
rainer wrote
I love your educational trading materials.
Posted November 21, 2008
Barry wrote
Thanks everyone. Much more to come!
Posted November 13, 2008
annamalai.v wrote
really good teaching,but need more precise trading rule to trade in all environment
Posted November 13, 2008
armando wrote
no knowledge in trading bussiness, but your 5videos is very understandable
Posted November 12, 2008
armando wrote
no knowledge in trading bussiness, but your 5videos is very understandable
Posted November 12, 2008
CHANDRAGIRI wrote
I am pretty clueless on trading, but learned some thing from your 5 day courses.
Posted November 09, 2008
T.yogananth wrote
Dear Dr. BARRY,
5 DAYS MINI COURSE WAS VERY USEFUL. The tools, teaching method, & language was very simple, & easy to understand. Really its a service to trading community.Great JOb. pl give some tips on how to trade on
gap opening days for day traders.
Posted October 28, 2008
yomi wrote
hi nice lessons
Posted October 17, 2008
Nicole wrote
Internet is full af Gurus who's selling secret SECRETS before you see it.And usually it is what I know already.Technical analysis.But it doesn't tell you how,why and when to put order.
Posted October 11, 2008
TrueFX wrote...
Moving averages are probably the first Forex indicators which beginner trades love to apply (probably because moving average appear to be so simple to use).
Your detailed video on this topic is simple and yet so good, that I'll gladly refer beginner traders to it. Thank you.
Posted September 24, 2008
QT wrote
How I got to know your site? I actually prayed for given direction, for I want to know exactly how to read technical indicators. Your site came up first. I have watched your 5 videos. The video lessons are very clear and easy to understand. You are sincere and have taught well and have instill in me lessons that just went right into my memory. Thank you very much Mr. Barry. Wishing you greater success in educating more fx traders.
Posted September 02, 2008
rservice
I have traded for many years and tried many strategies. Yours is the only one I have found that actually works. Thank you for sharing it!!!
Posted August 29, 2008
oliver purvis wrote
thankyou for your sensible, percentage type view of market behavier
Posted August 27, 2008
Rolas wrote...
Very good & informative lens! Keep it!
Please write comment what you think about my lenses:
http://www.squidoo.com/catlaugh - Funny cats
http://www.squidoo.com/funnydog - Funny dog pictures
http://www.squidoo.com/funnypics - Funny pictures!
& please check my other lenses.
Thanks.
Best regards
Posted August 23, 2008
GatorTrader wrote...
I just got done watching your training educational videos. From one trader to another... Nice work! Top Dog Daytrading is an excellent resource for traders looking to learn the business or for current traders seeking to step up their game and hone their trading skills.
Posted August 06, 2008
Inam Alvi wrote
Dr. Barry, you are awsome. I have been searching internet for so long to find some useful information which actualy make sense and I have no doubt that firs time I understood some basic things from your free min course
Thanks and I am looking forward to take ful course from you
Posted June 18, 2008
Zarea wrote...
Great Lens. I also visited your TopDogTrading site...thanks for all of the great advice!
Posted June 10, 2008
BFuniv.com wrote...
"It took many years of trial and error ... and losses, until I came up with my methodology.." I think that is the key -- finding your own personal trading style.
Posted May 10, 2008
hussain18
I like all your materials very much. Want to know more about your use of cycles
Posted April 30, 2008
krisManuel wrote...
Very helpful lens! 5*
Thanks for leaving me some feedback! If you have time, check out my brand new lenson the Verve! Thanks!
Posted April 25, 2008
normslink wrote...
Always love learning more about day trading. Thanks for a great lens. I'm an active trader, but certainly not with your track record.
Posted March 25, 2008
Ally wrote
very clear and concise explanation that give me more in depth knowledge about moving averages.
It will be useful if you can give new traders like me some information about spotting market reversal after a trend.
Posted October 26, 2007
Magnum wrote
Another obstacle to success is trying to sort through the clutter of competing trading systems, only to find that they don't work or are incomplete or you need special software, etc. Traders are bombarded with everything from email to direct mail to infomercials. It's really hard to stay on track.
Posted October 17, 2007
CT wrote
I love your educational trading materials.
Posted October 15, 2007
jodeven wrote...
Great lens! I've learned a lot. I would appreciate it if you would visit and rate my lenses Online Forex Trading, Forex as a Home Business
Posted September 19, 2007
trader_Al wrote
I agree with you so much Barry. A more simple and uncluttered methodology results in less brain static and easier decision making in www.Mini Futures Trading. I enjoyed your lens and video very much Barry.
Posted August 18, 2007
CygnetGames wrote...
Wow - amazing. I would never have the confidence to do something like day-trading - far too risky for me, but it's interesting to read about it from an informative source such as yourself.
I'm more into free online games myself.
Posted August 15, 2007
Brent_S wrote...
Nice lens. I'm pretty clueless on trading, but learned something reading this. 5* MPM Mall With It All and Together We Can Change The World.
Posted August 02, 2007
NicholeB wrote...
Hiya, Barry! Day trading has always had me curious. I'll definitely be back to check out more of your lens!
~NicholeB
http://www.squidoo.com/makebeads/
Posted July 25, 2007
Bob. wrote...
A well thought out lens and excellent primer on day trading! 5 biguns for you.
Posted July 24, 2007
International-Investor wrote...
Hi Fellow Member of Rate Exchange. Good Lens. A 5 star-er. Emerging Market Investments - ETF's and stocks.a>
Posted July 23, 2007
Caseyfern wrote...
Good show, and welcome to Ratings Soup. Your lens is a welcome addition, and I hope all of our Chefs come to visit and rate. Five/Fave from me, though I'm more of a clueless trader than a day trader!
Posted July 23, 2007
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