How I Avoid Giving Back My Profits (Day Trading Tips)

A huge problem that you want to avoid within your day trading is "giving back" your profits. There is nothing more frustrating or discouraging than to start strong with your day trading and make money; however, then lose the money you had originally made. This is a struggle that all traders experience. Whether you are a beginner day trader who is just getting started or a day trader with years of experience, this hassle exists for everyone. I want to share with you one of the day trading tips I've incorporated into my every day trading which helps me avoid this problem. If you want to learn how to day trade and make money consistently, you need to have a strategy that allows for you to protect the money you've made. Money management is a critical part of any day trading strategy and in this video I'll show you a simple, yet effective, day trading tip that will make money management easier within your overall strategy. Let's do some learning!
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[@AdventureKody]

That's something a lot of traders don't talk about: Stop trading when you get emotional, even if it means you're green on the day. Good stuff

[@claytrader]

Thanks for watching!

[@TedGetsBread]

#1 great tip I've found along the way that's helped me make money: use a TRAILING STOP order. It'll help you lock in profits all of the time!

[@claytrader]

Thanks for sharing!!

[@paintflw]

what percentage has worked the best for intraday Ted?

[@jmestrada2548]

lol you didn't get the problem

[@crazytrain7721]

​​@@jmestrada2548how so? If you use a trailing stop, it takes all the emotions out.

[@agnimitrabasu3460]

This is some really helpful genuine stuff... Many thanks Clay 👍

[@claytrader]

Happy to help

[@kat2279]

Great video, Clay. Been there many times, but now I try to practice mindfulness while trading and feel and recognize every emotion.

[@claytrader]

Thanks for watching!

[@behnammortazavi-asl7117]

i like the mix video live trades/classroom lectures....

[@claytrader]

Good to know!

[@TheAdrenaline85]

Agreed. This is really helping me learn more Clay. Thank you ever so much! Cheers!

[@claytrader]

@@TheAdrenaline85 thanks for feedback!

[@scottanderson9656]

Love the combo of chalkboard and live trading. Very helpful.

[@claytrader]

Thanks for feedback

[@sedzaninemalale2461]

i love your resources i find them of great help

[@claytrader]

Happy to hear that!

[@isaiasrodriguez8980]

This is such a great video thank you

[@claytrader]

Glad you enjoyed it!

[@Ombhavsar26]

Sir thanks for your expansive information 😇

[@claytrader]

Thanks for watching

[@jimmyn1357]

Clay great content thanks.

[@claytrader]

Glad you enjoyed it

[@dannyacevedo5709]

informative! I defiantly had this happen and lost in NOK in postions, I was up on GME, in and out, took the gains and got "cocky" and lost gains and initial investment.

[@claytrader]

Ouch! Thanks for being willing to share your experience!

[@yadon9884]

Thanks Clay, real timely up $200 right after open then gave it all back down $500 with frustration then recovered to only down $200 for the day. hope I grow out of this pattern soon.

[@claytrader]

Keep grinding.

[@dchildress8696]

I always force myself to go do something the second I start getting frustrated because my good decision making skills go bye bye when I'm mad

[@claytrader]

Good idea!

[@user-xt2hj7jd8y]

Clay, For me one good trade a day is all I need. I usually STOP and walk away after that. If in case I decide to exceptionally do an extra trade then will cut my trading shares to 50-30%. If I lose one trade, then might go for the second one. If that one turns out as another loss then I am done for the day: just not my day (that is my motto). By the way which software do you use for trading? Thanks

[@claytrader]

Here ya go claytrader.com/resources/

[@KarenLi-ht8it]

Thanks for the video, loved it! May I ask how much percentage is 400 profit of your capital? On my green days, I am only winning 5% of my capital which I felt like is not enough so I am really curious as to how other traders are like even though it's just a matter of perspective

[@claytrader]

My capital is always in flux, but I'd look at it in regards to time. Meaning, for an hour of trading, how much do you tend to make?

[@edelgalayflor]

thanks!

[@claytrader]

Welcome!

[@couchpotato684]

Thanks.

[@claytrader]

You're welcome

[@preritransinge7881]

I think this video was my current requirement

[@claytrader]

Cheers

[@paintflw]

This is hilarious. meaning- 1) on my saved list and I'm watching it tonight again by total coincidence....when today I didn't buy puts on FSLY this AM and 2) had a note to and didn't follow my advice and bought calls since I figured it fell enough, all bad. Puts went upwards of 50,000% today Appreciate the lesson Clay

[@claytrader]

Cheers and thanks for watching!

[@vonjaysonnavida2090]

Please do more of these blackboard lessons ❤️

[@claytrader]

Noted. Thanks!

[@abcmaya]

ahhh... thanks clay for making it clear why i keep losing money. Next time i say to myself..."I should be up by so much more", i'll just walk away from the computer.

[@claytrader]

That's a wise idea!

[@singaporepinoy]

I like this. Please make some more blackboard videos

[@claytrader]

Thanks for watching!

[@CatamaranChannel]

Good lesson #walkaway

[@claytrader]

Cheers

[@raviamin2820]

gave back $900 of profits today and ended the day +$40...not a fun feeling.

[@claytrader]

We've all been there!

[@ronrico4922]

I only see the money that's actually in my account as mine. I make no mental claim on money left in the market. This attitude took a long time to develop.

[@claytrader]

Thanks for sharing!

[@nameyourchannel8262]

Good stuff. Trying to get a hang of the emotional side or trading.

[@claytrader]

It's a challenge for sure.

[@jevkev123]

What I’m doing now is that I have max loss for the day and if I haven’t hit it I will continue to take trades, so that my edge will play out.

[@claytrader]

Thanks for sharing. Do what works for you!

[@josephlance9262]

Another great video Clay. I have a (only somewhat) related question. How do losses affect your taxes? If you gain 2k but then lose 1k, are you able to document that as only 1k of income? Does your broker keep track of that for you? This is my first year in the stock market so I have not had to file my taxes with trading in mind. Thanks!

[@chessandmathguy]

My broker (Interactive Brokers) prepares a 1099 for me once the year is over and I just use that to do my taxes. Hope that helps.

[@claytrader]

you pay taxes at the end of the year on "total gains" (assuming there are gains)

[@YYLegend]

I think is THE answer for me. As much confidence i have i don't trust my ego. So i go home lol

[@claytrader]

Well, at least you know what to work on.

[@realwilltrades]

This is how I am losing 🤦🏾‍♂️ I would be up $800 but want more and I see the perfect setup but it’s not time but I force it so I enter a trade and get out and do it again 🤦🏾‍♂️ I end up losing it all

[@claytrader]

Frustrating for sure!

[@realwilltrades]

@@claytrader I believe it’s pride and ego!

[@claytrader]

they play a role for sure!

[@BrokeAgain]

I am greedy... gave back $200 gains this morning... then down

[@claytrader]

Sorry to hear.

[@mantyshub90]

I dont understand how are you making money while its dropping and you're clicking buy

[@claytrader]

Watch this: claytrader.com/videos/how-do-you-make-money-shorting-a-stock-ill-try-to-explain/

[@Spliff66]

I used to watch my trades like a hawk . Highs too high and lows too low .

[@claytrader]

How'd that work for ya?

[@Spliff66]

@@claytrader To be honest mate it was murder . Through watching you tube videos and reading a few books on psychology I realised I was feeling too much emotion . What I do now is hide my balance and execute 100 trades to the best of my ability . I don’t even think about my balance . Cheers

[@claytrader]

@@Spliff66 yup, do what works for you

[@kaifahmad4131]

Very difficult to control emotions. Clay and mark Douglas made it understandable

[@claytrader]

Thanks for watching! Glad it could help!

[@ronn420]

I wish I watched this before I blow my account

[@claytrader]

Well, you can always get another account :-)

[@tradergirlatx]

I do this every fn day. Been up $400 to $700 and NEED TO STOP because I want more and keep giving back!!!! So frustrating!!!

[@claytrader]

Annoying indeed!

[@robertbourke8618]

awful looking set up, makes me wonder how I am not more profitable. I always go red after being green on the day. I get too greedy

[@claytrader]

Greed is a savage emotion.

[@robertbourke8618]

@@claytrader literally made 9 and 10k in the last 3 weeks to give half back the following week. I feel absolutely defeated. I "just" jump back in when I see a trade I was in keep moving and I chase it AND I size up like I'm owed money. I made 1600 in a red and end up red ? This is worse than just being red. All my red days come from green days.

[@claytrader]

@@robertbourke8618 I'd encourage you to sign up for my (free) class I offer here claytrader.com/1-hour-trader-transformation/

[@nameyourchannel8262]

First.

[@possiblymaybe.]

second

[@claytrader]

congrats!

[@MrSouthpaw75bz]

this guy is a nobody this is almost as bad as paying for gambling sports picks its actually the same thing why would you pay someone that doesn't know the future read a book and u won't need these scam guys

[@claytrader]

"this guy is a nobody" says the person hiding behind his computer...

[@claytrader]

@Ryan Robinson he's probably a hedge fund manager! you can be anything you want to be in the KZbin comment section!

[@Keno-King]

Hey Justin, Clay is obviously somebody, but why so rude? Did you lose money that day of your comment? Clay may not be the most profitable trader in the world, but he must know something to be able to get 25 green days per month. Now and then he will post an actual broker account showing all profits & losses, it is not all bs. I think you do have a point about whether or not investors should pay for all the investment advice and classes that you can find online, but perhaps you could make that argument a bit more respectfully.

[@claytrader]

@@Keno-King I 100% admit "all information" is available online, for free. Problem is, when you don't know what you don't know... not only do you know what what is actually "valid" information, you also don't know what order/structure to learn about that information in.