Just Pay Attention

Often asked: what is that one thing we need to do?

The answer lies in three simple words: just pay attention.

Pay Attention: to the news. Know what has happened that moved the market and be cognizant of what is to come. Knowing what kind of news is scheduled gives you a heads up as to likely market response.

Pay Attention: not only to the market response of the news but how the pundits unpack and spin it. Their response will have an impact and is often short-lived, which is good to know should the market reaction turn on you.

Pay Attention: to technical indicators. They are all on your charts… support, resistance, chart patterns, trends and other important tools to guide and protect you. Do not overlook anything as often times, it is the smallest of details that derails your positions.

Pay Attention: to your money management. Remember, if you are down 50%, you need 100% to break even. Managing your cash is paramount to staying in the game if you want to live long enough to trade tomorrow. Only trade what you can afford to lose.

Pay Attention: to your entries. They matter. Jumping the gun and executing too early could be your catastrophic keystroke to end your trading career. Timing is critical for day trading highly leveraged stock options.

Pay Attention: to your exits. They matter even more. Determine your sell points in advance, be it a targeted dollar amount, percentage, when the stock hits a milestone or whatever you set your criteria. Failure to plan is a plan to fail.

Pay Attention: to your log. Follow your plan to the letter as once you deviate, you set the stage to do it repeatedly until it no longer serves its purpose. It is too easy to fall off the rails; hence the importance of creating your plan and sticking to it.

Pay Attention: to your emotions. Stay aware of your fear, greed, ego, FOMO, YOLO and any other emotion that may creep in to govern your trades. The stock market is not the place for emotions; you will ultimately lose.

Pay Attention: to your focus. Ensure that you have no distractions and that you will have the wherewithal to concentrate on your trades during the entire duration, or at least, be prepared if you must leave your post. Be ready to make last minute changes to your positions if need be.

Pay Attention: to your position sizes. If you lack full confidence in a trade but still wish to enter, consider legging in, leaving room to massage the trade, should the need arise.

Pay Attention: to your own assessments, and ignore the talking heads. They don’t know anything more than you do about where the market is headed, so why listen to them? Consider that many of them speak as if they know so much, but is it really possible to know everything? ‘Jack of all trades, master of none’ applies to stock market gurus as well, probably more than you know.

Pay Attention to what we say. Connect with us at DayTradeSPY as we only focus on teaching you our one key methodology: day trading options on the S&P 500, SPY.

Some of you may not have time or energy to sit through our world-famous Trading Room. For that reason, we give you two facilities that provide you with a particular option to trade. Click the links for details.

Our DTS Signal is where we text you a specific option to buy for a 5% same day profit. This signal comes to you three to five times a week, usually in the mornings. It’s great if you’re on the move and not in front of your computer.

Our ever-popular Pick of the Day gives you a particular option to be bought at market open, usually delivering 6% within a few minutes. Both services are trending a near 90% success rate.

Of course, our Trading Room is open to newbies and seasoned traders alike. Our many years’ experience of two pro traders comes alive, streaming at you every morning, 9:20 to 10:30 a.m. ET.

Rather test the waters first? Get involved with our Inner Circle, consisting of the morning Market Analysis, follow up report and Weekly Meetups.

Join us for our free, 8 p.m., ET Sunday night Intro to Trading/Week in Review sessions. They’re informative, engaging and even entertaining… click here to register.

You can do this… just Pay Attention!

Create great trades!