[00:00] Day trading is when you buy low and sell high for profit. For the longest time, only the wealthy can day trade. However, the future is now, and with the power of Robinhood, everyone who has a phone can day trade.
[00:12] Today, I'm gonna show you how. If you're gonna trade on Robinhood, it's important that you use a cash account. A cash account basically allows you to day trade. If you are in a margin account, you're limited to how many day trades you can make.
[00:24] So a way to bypass that is to just switch your account to a cash account. now you can learn how to day trade there are different ways to day trade essentially yes day trading is when you buy low and sell high within a day however there are scalpers that
[00:40] will probably only trade a couple minutes of the day then there's swing traders that will probably hold it a couple days even weeks and then we have long-term traders which those traders can hold on to shares or option contracts for a long period of time. Now, I recommend learning as
[00:59] much as you can. That way you have more tools in your toolbox to day trade. However, if you need help, you can check out my channel. My goal here is just to kind of help new traders that don't really know how to start A lot of them trade in Robinhood So this is a way for you to day trade in Robinhood and start your journey on becoming a successful day trader or even a successful trader If you want to learn more about option
[01:25] trading, I talk about it in my channel. I have a lot of videos that go over it. It's a very simple explanation of something that's complicated, but it helps you kind of get a grasp of what it is so you can start learning more and more and more about it in this industry, in this niche.
[01:41] you know it all comes down to your charts um a lot of people probably who are learning to day trade on robin hood probably don't know much about day trading i'm assuming so you need to use a
[01:54] charting software you can't be using robin hood robin hood's charting software isn't the best yes they're coming out with a new desktop app that kind of is supposed to improve that aspect of charting however robin hood's charts are trash i recommend using another charting software there
[02:11] are tons of that you can use some that are free you can use trading view that's one of my favorite ones they do offer a subscription but it's also free as well and if you use a subscription you
[02:23] can use indicators now it's important for you to know your risk to reward um in every single trade I never thought this was such an important rule and thing to consider until I started playing with more money The more money you play you realize that there ways to make money with little risk rather than risking a lot to make a little
[02:49] Once you learn that, you're able to minimize your losses. A lot of times day trading can have a certain effect on the brain to the point where you realize that making money is easy and you get overconfident and you lose everything you've gained.
[03:04] So the only way to protect yourself is to learn risk management. And that's something that I think everyone should learn. You should be able to risk less than what you can make.
[03:17] OK, that that that itself says a lot. Again, I have more videos on my channel that go over each specific thing that I recommend you learning if you want to day trade on Robinhood or day trade in general.
[03:31] I mean, the more you day trade in Robinhood, the more you learn about how day trading works and option trading works and all that stuff. You will probably discover the better platforms or the better charting softwares.
[03:44] You'll learn a lot more in your journey. I mean, Robinhood isn't bad when it comes to option trading. it now when it comes to entering a position entering a play right Every option every trade is a play OK look at it as a play
[04:00] You have to have a plan. You can't just go in there and just throw your money because it's your money. You need to be able to have a plan. Hey, I'm entering at this point and I'm exiting at this point. The reason I'm doing it is because of this.
[04:13] If you can create a thesis for why you're doing your trade, you're on the right track. Okay. You're on the right track. You don't just rob a bank just to get money. You rob a bank at a certain day because of something, uh, you, you, you know, your entry
[04:28] and you know, your exits. So treat it like that. This is a serious game. You can lose a lot of money, but you could also make a lot of money. Um, I want you guys to become successful in your trading journey. So please comment down below if you've made any trades or if you made any money in trades
[04:43] in day trading or in Robinhood or in option trading, or even if you've lost trades, uh, please, uh, comment down below. I'm actually very curious. Um, but that's it for today, guys. Uh,
[04:55] thank you for watching. If you want more information on how to day trade or how to day trade in Robinhood specifically, check out my channel. I have a lot of content for Robinhood users, um, because I know that's, uh, there's a lot of, a lot of people that want to learn,
[05:08] um, and they're learning with Robinhood. Thank you for watching guys.