Ei Day Traders

Peace, fam. DB Bedford here, the EI Guy, bringing that emotional intelligence both personally and professionally. You know what? You know, I come here every day juiced, right? Because I have figured out a way to leverage emotional intelligence into the financial markets to create an additional income. I call it the ultimate side hustle. Before I show you this wonderful trade today where I made over $1,000 in 8 minutes, I want to talk to you about 2 important things that you must start paying attention to in your life before you get started day trading. The number one thing I want you to do is I want you to be honest, because part of emotional intelligence— there are 4 domains to emotional intelligence: self-awareness, the ability to manage your reactions, situational awareness, and managing relationships. I'll tell you how those connect to emotional intelligence at a later date, but for right now, I want to focus on one of the domains, which is self-awareness. I want you to be honest in your life. How are you when it comes to discipline? I want you to think about the areas of your life where you lack discipline, and self-awareness is about being honest about what those areas are. Are you disciplined with your finances? Are you disciplined with your fitness, what you're eating, with the quality time you spend with your family? I want you to think about the areas where you know you lack discipline. Because discipline is going to be one of the main key factors that will determine whether you're successful or not as an EI day trader. The second thing I need you to take— pay attention to is your level of focus, right? Once you do what you're supposed to be doing, can you focus on just that? When you set a goal, can you focus on that? When you're in the middle of something, can you focus on one thing at a time? A wise man once said, if you chase 2 rabbits, you probably won't catch either one. The first thing people want to know when they hear— when they see what I'm doing is, okay, what do I need to do? I'm telling you right now, the first thing you need to do is do a self-assessment on your level of discipline in your life. And before we start the coaching program, I want you to get more disciplined in areas of your life that has nothing to do with trading. I want you to get more focused in your life in areas that have nothing to do with trading, because if you can do that, Then you really will do well with trading. But if you lack discipline and you lack focus when it comes to running these plays, it's going to show up over here. That's a little bit of coaching for today. So I want to show you how this play unfolded. So I want you to come on in and check it out, and you'll see what I'm talking about, why discipline and focus is going to be key to your success. Come on in and take a look at this. So it's all right. So now the time is 6:43. Uh, I wanted to give, uh, the trade opportunity to kind of do what it do. So I decided to get in at, uh, $23.60. I see after this red candle, this green candle was starting to get the same momentum as this one, so I decided to see if I could ride this on its way back up. So my stop is at $23.58 in case I'm wrong, in case the trade starts to reverse. Um, I have about 2 points there, 2+ points, because it's— I mean, at 2360.8, my stop is at 2358. That is in case the trade reversed on me, it would automatically stop the trade. So I basically don't bleed out, or I can go ahead and manually move it up to catch it. So it looks like the trade is, uh, you know, going back up towards the levels that were at 2365 where we've seen it go before. And so what I wanted to do was just wait, uh, after this red candle. I wanted to wait to see what would happen. So I believe that the trade was going to keep going. So I came in at 2360. It's at 2363 right now. So you know what we do, we're going to go ahead and scout. We're going to go ahead and move up and we're going to grab our first 2 points of the morning, right? So that's 2362. Well, it's about a point and a half because we came in at 23, uh, 60.8. Uh, so, but, so let's just say we got a point plus right now. So we're gonna see how, uh, far this goes. We will see, we're gonna, we're gonna see if it's gonna break through that 2365 level. But the first chance we get, we're gonna, uh, scalp another point, uh, if this continues. Uh, but it didn't, which means that it stopped out. So it reversed. See what reverse means? I mean, it dropped the other way. Go look at positions. That's $225. Not bad, which means that was about a point and some change. So we try to get 5 points for the day. That's the first point of the day. I still believe that this has the potential to go up. And so I'm going to get prepared for another trade. Futures contracts, 1, 2, 3, 4. Oh, that's 5. Let's go 4 bracket order. Let's put another stop because we always want to make sure that we protect our capital as much as possible. Let's go to 60. 2360, right? Since it's above the 6, it's at 2363. All right, and so it's, uh, it's 1 minute into this trade, but you see we always make the bracket order, but then we wait to see what's happening. These wicks are saying that this candle is kind of undecided, like the buyers or sellers are really going at it, so it's not going any particular clear direction. So even though The MACD and the histogram is pointing up. I'm not getting the strong momentum here. I'm a little hesitant to jump into this trade just yet, right? So that's why you set your bracket order, but you don't automatically jump in. You still want to always give your trade time to see what has happened. Plus, I know it's close to the highest it's been. Let me move my price level up. So we know it topped out about 2365 before it reversed. So let's see what happens if it breaks through that level. I think it's strong. I think we'll get some momentum here. So I'm gonna go ahead and take the trade. Let's see if it takes. So the trade took at 2364, but still undecided, you know. And so that was a— to me, this is more of kind of a riskier trade, even though it's Acting like you want to push up. There's a lot of resistance from the sellers. If I'm honest, you know, I probably got into this trade a little early, and so now I have to really be mindful and watch for that reversal and be able to get up on it in case it really turns around on me. This is that part about, you know, this right here is the real part of trading, right? Like, this is that in-between where you've made a decision Right? You put your, you put your, your capital on the line. You don't know which direction the market is going to go, and you have to wait it out. And that's where the emotional intelligence parts come in, because you have to be prepared to observe the trade no matter what direction it goes. If it goes the direction you anticipated, that's a good win. If it doesn't, you're prepared to get out the trade and get back in when it's more favorable. Okay, so right now we're at 2365. It went ahead and it broke through that level, so that is, uh, good for me. It was a good call on my behalf. You see how strong it is, getting stronger and stronger. And so again, we like to scout, so let's go ahead and move our stop loss up. Let's go to 20— let's go 2366 since it's pushing so hard, right? So I'm gonna go 2366. Get a couple of those points ahead. Again, we looking for 5 points a day. Now we got in, it broke through that level. Now look, it's off to the races. So the part about the strategy as a day trader is to get in at the right time. And so look what's happening now. So it's at 2369. I got to stop at 2366. I want to go ahead and at least get a little bit more of this. I'm gonna go ahead and go to 23— I'm gonna go 2367, right? I'm gonna stay a point and a half or so behind. I'm looking for the 5-point scalp. I want to make sure that I get that, but I also want to try to maximize this trade. You know that in a trading session, every 5-minute candle will go up and down along the way. You don't want to be too close because sometimes it just comes back for a second and it keeps going. And when you're too close, you might get stopped out of a really good trade. So here we are now, we're at 2370. I got my stop at 2360, but you know, we scalpers, we don't— we're not gonna mess up our for sure trying to get some more. So we're gonna go up to 2368, right? Let's go 2368.80. And I want to do that because I came in at 2364.80. Okay, that was the stop out. You remember, the stop means that basically it reversed. Let's go over to our positions. There go our 5 points for the day, $1,025. Okay, let's go to our positions, right? Let's go to activity and see what it took to do that. Okay, so we got into this trade at 6:47. The first trade we took at 6:43 and we got it at 6:45, so that was 2 minutes. The next trade we got back in 2 minutes later. Remember, I waited for those 2 candles. to kind of get out, you know, to do their thing. And we got in at 6:47 and we're out at 6:51. So from 6:43 to 6:51, 8 minutes. Okay, 8 minutes for $1,025. Okay, you tell me, where is there another opportunity to do so? And how do we do it? All we had to do is wait to confirm the direction that The trade is going. Now here's where again the discipline comes in at. This trade is— looks like it's still moving. Some of the biggest mistakes that I have made is to go, oh, this is still going, let me get in. There are other people that will tell you to get back in and get everything you can for the day. And so here's the thing. And so here's where the discipline comes in at, because I talked about discipline. And some— and people will, will debate with this. If I have a goal to reach $1,000 in a day and I got $1,000 right here and I did it in 8 minutes, discipline says you've accomplished your goal. So leave it alone. Undisciplined or being greedy, right, or having that FOMO, fear of missing out, will have you jump back in this trade. And there's very good reason to jump back in this trade. And it's strong, right? This is a strong momentum right here. It is constantly going up. Definitely tempting. But you know what we say. Don't mess off your for sure trying to get some more. You could definitely get back in and you could probably turn this into a $2,000 day, a $3,000 day, a $10,000 day. That's possible. But you have to ask yourself, are you satisfied with your goal of $1,000 a day? Is there good satisfaction with accomplishing your goal? And how would you feel if you jump into this trade and all of a sudden it reverses on you and it doesn't pan out the way you want it to be? That's something that I want you to take under consideration. So I'm going to tap out. I got what I needed for the day. I got it off. I got it in 8 minutes. I'm gonna leave it alone. Okay. And I just want to give you an example. So see what's, what's happening. See how it's starting to turn red a little bit. Now, it doesn't mean that it's going to reverse. The longer you stay in a trade, the more you increase your chances of giving some of your profits back. Okay, so there you have it, $1,000 in 8 minutes. This is very important. It ties into my opening message about you got to make sure that you have discipline and you have focus. So I'm not concerned, right, or even interested what else the market does for the rest of the day. There's going to be millions of dollars exchanged, right, today. That trade can go to the moon. And that's very possible, but I have learned to take my profits and go on about my business for the day. I put more emphasis on 8 minutes, $1,000. I am grateful for that. I know that is very challenging to make. I'm gonna take it. I'm not gonna mess off my for sure trying to get some more. This is the type of discipline that I'm gonna teach you in the coaching program. This is why emotional intelligence is very important. Because you got to be able to have your emotions in check so that you don't get greedy, you're not fearful when things are uncertain, and you keep a balance so that you make the best possible decision to increase the chances of being successful. Now, every day is not going to be a green day, and we understand that. But when the days are not green, we're going to minimize, right, what we give back to the market by risk management. And that also requires the discipline that we're talking about. So I talked about discipline and I talked about focus, right? Keeping my eyes on the prize and my head on a swivel. I know what my goal was. I accomplished that goal. I'm out now. I'm free to enjoy the day with my family, right? And whatever else I need to do, go work out, things around the house. Again, this is not about promoting some lavish lifestyle. This is about everyday people like you and I Right, just to want to be able to earn money differently and not have to go spend 8 hours a day, uh, not to be in my business all day hustling and grinding. You know, there's this misconception in life that we have to grind, especially in our culture, right? Gotta grind, gotta grind, gotta grind. But when you really think about that, what is a grind? Because anything that you grind— think about it, visualize something grinding. Usually, you know what I'm saying, comes down and disappears. So we want to be mindful of the language that we use. This is the ultimate side hustle, and all it requires you to do is have your mind intact and your emotions aligned, and you can make some pretty good decisions, as I just showed you today. This is why I encourage you to consider being an EI day trader. And I'm looking forward to seeing you in January when the coaching program launches. But for now, make sure that you share this with everybody that you know. Make sure you like and subscribe to our YouTube channel. And remember, the key to being an EI day trader, we like to take small profits and get on about our business for the day. I'll see you on the next one.