The REAL TRUTH About Life as A Penny Stock Trader (My Routine – 2019)

– In trading, it’s you
against the other guy or the other gal. There’s many ways to get
a jumpstart to success. Today I’m gonna tell you how. (upbeat music) Hey everyone, lead trainer
with StocksToTrade, Tim Bohen, here. Be sure to subscribe and ring that bell to be notified as soon
as a new video hits. We post live videos,
tips, tons of content, and I want you to know as
soon as those videos hit. So, today I’m gonna
talk about daily routine and I’m gonna talk about mine. You can modify yours a little bit, depending on your day. Maybe you’ve got other commitments. But I wanna give you the foundation of what I think is the best way to become a successful day trader
and I’m gonna be focused on eastern time, so, agan,
if you’re west coast, if you’re in Hawaii,
if you’re in Australia, you’re gonna have to
modify this a little bit, but everything I’m gonna
talk about is Eastern time, because the market is
based on Eastern time. In my opinion, and I’ve been
doin’ this since I started day-trading in 2007, 2008-ish, I think there’s great
value in gettin’ up early. I know it sucks, I know
nobody likes doing it. I’m a big fan of Jocko Willink. Be sure to follow him on social media if you wanna get inspired. But, I’ve been gettin’
up, back then at 5:00 a.m. These days I get up at 4:30
a.m. to get really started on the day, and a quote from Jocko is, “You want to be up before the enemy.” I think that there is a huge energy that you get knowing that
you’re up when the other trader, the guy or the gal on the
other side of the trade is laying in bed, lacking the prepare. Because I think that
energy, that out-there, when everyone is asleep, you absorb that, and you get that energy and
you’re ready to rock, okay? So, as early as you can. I like 4:30, 5:00, listen,
the later you get up, the less time you have to prepare, the less time you have to prepare, less likely you are to be successful. So then, first thing I want you to do is, do something physical. Get up, get moving, wake that body up and wake that brain up. I’m not gonna quote studies. You can google it, there’s been thousands, maybe tens of thousands of
videos that relate to that idea behind exercise, waking up
the brain, and productivity. I’ve read tons of books on it, trust me. Tons of writers do this,
they go for a walk, they get those writing ideas. You’re trying to create that,
get that creative juices goin’ because that’s a lot what trading is. You’re trying to be creative
and find an angle, an approach. You’re trying to find that
trade that someone else hasn’t found yet. So that creativity aspect is something I don’t really, heard talked about. Immensely powerful. Now, what do you do? Really depends on where you are in life. If you’re young, you’re healthy, do some hard cardio, lift some weights. If you’re older, if you
haven’t exercised in a while, just go for that walk. Walk around the block, walk
down the road and back. But get awake, get ready to go. And then, it’s such a simple thing, but so many people lack to
do it, get a good breakfast. And what do I mean by a good breakfast? I mean protein, vegetables,
keep the bread, keep the donuts, keep the Cocoa Pebbles away. If you’re just ingesting all that sugar, if you’re runnin’ on sugar,
and you’re eatin’ that at seven or eight in the morning, by the time the market open comes around, you’re gonna crash. You’re not gonna have
that sustained energy, and something about day
trading that is, again, unpopular opinion, this
is quite frequently an all-day thing. Now, ideally, you find a
trade, you’re in and out, and you’re done by 10:00 a.m. But there’s not many days that happens. Sometimes, you’re stalking
a trade all day long. Today, actually, the
recording of this video is August 12, 2019, RKDA. Look up that stock, that
stock spiked early in the day, and exactly right now, going
into that 3:00 p.m. window, it’s breakin’ to new high days, and it’s gettin’ ready to
spike to all-time highs. Some days, you gotta wait around all day. You need that sustained energy. So, after you’ve done that,
you’ve taken care of yourself, you’ve probably had some coffee. Hey, it’s America, we run on caffeine, but keep the sugar out, keep the junk out. Now, you start that research process. And what I do is, some of
these are paid services, but you gotta be aware of
what’s goin’ on in the world. I read The Wall Street
Journal, I check out CNBC. I’m lookin’ at all the major news feeds to know what the trend is because, again, back to RKDA, it’s an agriculture stock, soybeans, corn, this is a
trend with the China tariffs as of right now, so ag stock. So now you’ve identified a trend. You need to know what’s
goin’ on in the world. You need to read the press releases, you need to read the SEC filings. So that’s that 7:00 a.m.
to 9:00 a.m. window. Not sayin’ it’s gonna take you two hours. Some days, there’s not that much goin’ on, there’s not that much news,
it takes you 10 minutes. But other days you have to
spend that time to digest to run your scans in pre-market
and prepare for the day. Now, as we come into 9:00 a.m. Eastern, you’re getting, actually, now you’re really getting ready to let that rubber meet the road. You’ve seen pre-market data shake out, if you’ve got stocks to
trade, Oracle is a great tool. Oracle is giving you
that 15 stocks to watch into the morning, into the market open. Now is when you write your trade plans. Check out the other videos on the side, I’ve probably got 50
videos on trade plans. I think it’s one of the most
important things you can do. Now, you start making your trade plan based on the support, the resistance, the breakout breakdown
levels, the chart patterns. Write those trade plans down. Then, as you move into the day, you’re getting ready to actually execute. So, once you’ve prepared,
once you’ve planned, once you’ve done all this work, I think your odds of success
are that much higher. Now, it’s not fun, it’s not glamorous, but listen, if this was
easy, if it was fun, then everyone would make a million dollars a year day trading. It’s difficult, you gotta put in the work, you gotta put in the grind. I’ve been doin’ this for 12 years, gettin’ up at 5:00, 4:30 in the morning, but that’s why I’m here 12 years later. So, let me know below, give me a comment. Do you get up early? Do you trade your plan? Do you try and get some exercise
and do all these things? Or do you wake up at 9:29
a.m. and try and trade? So, thanks a lot everyone, and we’ll see you in the next video. Thanks for watching our video. Be sure to comment below with
any trading-related question. We love answering your questions. Also, like and share with your friends, and be sure to subscribe to be notified as soon as our next video hits. And if you’re looking to
expand your trading knowledge, don’t forget to check out
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softwares out there. Be sure to check out our trial. (upbeat music)

18 Replies to “The REAL TRUTH About Life as A Penny Stock Trader (My Routine – 2019)”

  1. Hello Tim Bohen, ✋
    Thanks for sharing, watching from Kennedy Space Center, Florida 🚀
    Thumbs up 👍 STT 📈📊📉

  2. cant you buy a stock say bpth at 7 sell to someone sell at 11 then they seel at 15 and so son to 70+ and so its not always loser and a winner ?

  3. I’m up at 5 am checking news on stocks and what’s gaped up. By 9:30 open I’m ready . I only trade one stock a day so I have to know I’m on the right one. Going to add an exercise time to my morning. I need to anyway

  4. In my country market opens at 4:30 pm wich is great . I usually start my research at 2-2:30 pm and by the time the market opens im ready to rocknroll and its not "costing me the morning". im still waking up kinda early though 🤷🏻‍♂️

  5. In Australia i finish work at 5pm study how the market closed previous day (setup for the open, track patterns and statistics) by then usually 7pm dinner usually back ready by 10pm ( 8am est)
    Also study during the day when I have time.

  6. Hello Tim, I am studiyng from Steven Dux and there is almost no creativity involved but more: tracking data, knowing the winning % and avg winning reward, cut losses. Do you have have a different approach or am I overlooking?

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