What you NEED to know before joining The Live Day Trading Room:
*****Gareth only goes long/short stocks, he does not do options. While some members do, he does not. *****
******Do not ask for existing entries they will be posted in the chat******
**Any members are not allowed to ask questions until they have completed Advanced Trading Education Webinars with a basic understanding of the methodologies. This is for your benefit, our Master Traders should be focused on finding you profitable trades and not answering basic questions.**
Questions will be ignored and you may be removed from the room
You will need to be present live in The Live Day Trading Room to take advantage of the action. No alerts are sent out for day trades. Why? Because alerts are simply not possible for day trading... the trade will long be over or you will be entering as all the day traders in the room LIVE are exiting by the time you get the alert. Day trade entry/exits can occur in seconds or minutes, way too fast for alerts to be sent. In a rare situation, Gareth may hold a day trade after he closes the room for the day. In that situation, he will send an email alert.
HOW MUCH MONEY DO YOU NEED TO DAY TRADE:
At minimum, 30k is recommended to day trade. Some members in the Live Day Trading Room have this, others have millions. Each person has their own risk level and needs to trade accordingly when they get the exact entry/exits from Gareth.
In the US you need 25k to day trade or you will be limited, so first, check with your country and broker to see what requirements they have and if you can get leverage/margin on day trading money.
ROOM OPERATING HOURS:
The Live Day Trading Room is open in the mornings from 9:30-11:30am ET (covered by Pro Trader Gareth Soloway and Head Trader Ben Pool) and again in the afternoons from 1:30-4:00pm ET (covered by Pro Trader Nick Santiago) Monday-Thursday. Friday’s are Half Days, and only open 9:30-11:30am ET (Gareth & Nick alternate on Fridays).
Most of the market action happens in the first two hours of the trading day. If you are not able to consistently be present LIVE, then the stock swing trading alerts service by Gareth may be better suited for you, you can see that service here: Verified Investing Alerts.
To enter the Live Day Trading Room as a member...
1) Make sure you are signed in to your account. Then you can access the Live Day Trading Room by simply clicking on the Live Day Trading Room page on your dashboard.
2) Once you are on the Live Day Trading Room page on your dashboard, there you will see a blue button to enter the room. Click the blue button and the room will open. Thats it!
Note the image below...
***ISSUES ENTERING: 99.99% of the time, if you are having issues opening the webinar, that is due to your pop up blockers or firewall. Most systems will open the webinar without issue. PLEASE investigate your system before contacting us. Trouble shoot by trying to access the room with a different web browser and ensuring your pop up blockers are not on.
Please check your browser for a notice asking you if you want to allow GoToWebinar to open... click yes. If you do not see that and it is not opening, please look further into your browser, as that is the problem.
Day trading position size in The Live Day Trading Room
For the Live Day Trading Room exact share sizes are not given as people have different risk tolerance. Instead, the Pro Traders will tell you what they are doing, for example, to allot a quarter or half of a full position size, and the full position size varies depending on a person’s risk tolerance. Everyone’s risk tolerance is different and every account size is different, so ultimately, each trader needs to take on the responsibility of deciding what fits their level.
To know if the position size is right for you, when in a trade, it should not change your heart rate one bit. If it does, your share size is too big and you need to lower it. If it doesn’t, use that share size and then up it slightly in the future to see if it still does not. If it does not, that your risk tolerance has adjusted based on you being comfortable with the technical. If it does, move back down in share size.
If the master trader feels comfortable with having $6000 invested in a stock for day trading and he says that he is adding 1/6th to a trade, this means that he's allocating $1000 of their $6000 to that trade. If he adds 2 more times for a total of 3/6th of a position, he has allocated $3000 to the position. This would leave him with $3000, or 3/6th of his position to add later if they choose to.
Everyone’s risk tolerance is different, and every account size is different, so ultimately, each trader needs to take on the responsibility of deciding what fits their level.
To know if the position size is right for you, when in a trade, it should not change your heart rate one bit. If it does, your share size is too big, and you need to lower it. If it doesn’t, use that share size and then up it slightly in the future to see if it still does not. If it does not, that your risk tolerance has adjusted based on you being comfortable with the technical. If it does, move back down in share size.
IF YOU ARE NEW, TAKE NOTE: we always suggest that anyone who is new to day trading or our Live Day Trading Room in general, take it slow! When you enter the room, sit back, listen and watch for at least a week. This will help you better understand what is going on so you can build confidence and trade smart, profitably!
ASKING QUESTIONS IN THE ROOM:
Before asking questions in the day trading room, it is REQUIRED to first start learning the methodology through our Advanced Trading Education Webinars.
For more in depth additional education we encourage you to take Gareth's most up to date Trading course available: The Winning Trader Series
If you are new, we ask that you do not ask questions; instead sit back, listen and learn while you get a feel for how the room operates. This will help the Pros continue to do what they do best without distractions. In addition, you will get a feel for how the Pro Traders give alerts, position size, etc. It will put you on much better footing for maximizing your results.
To ask questions, simply type your question into the questions box. The questions box is located near the audio controls. This box may be minimized on your desktop, look for the little orange arrows on your desktop, click that and the questions box will open. You will not see other members questions, that is noise you do not need. Instead, your question goes right to the Pros and they will address it live over your speakers.
How is the Track Record calculated for the Live Day Trading Room?
The track record is calculated based on net profits (gains – losses) taken by the head trader from trades given in the Live Day Trading Room. Gareth's account fluctuates over the course of the year, you can calculate how much he puts in a trade and get a sense of his size. Sometimes he puts 25k in a trade, sometimes 2.5m in a trade. It depends on the risk. Each trader needs to stay within their comfort zone regardless of what Gareth trades. Within the Live Day Trading Room webpage you can click previous calendar years or scroll down to view the track record for previous calendar years.