How to set up a Simple Day Trading Station for Penny Stocks or Crypto Trading

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FREE eBook: “How to Day Trade” | Download Now: http://webinar.warriortrading.com/signup

DISCLAIMER: http://www.warriortrading.com/disclaimer/

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Links of equipment discussed (these are NOT affiliate links, I’m not interested in getting commission if you guys decide you want them. They are just for your reference):

1. Asus USB Monitors 1080p: http://amzn.to/2r1KJFH
2. Lenovo y520 Gaming Computer with SSD and 16GB Ram: http://amzn.to/2mwtHtK
3. USB hub (extension cord): http://amzn.to/2D39yT4

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Try our Day Trading chat room here: https://www.warriortrading.com/free-day-trading-chat-room/
See our Live Streaming Channel on TickerTV here: https://ticker.tv/daytradewarrior/

I teach Day Trading Strategies for Beginner Traders.  I focus on Momentum Trading Strategies including Gap and GO! and Trend Finding Strategies.  All of our classes are available for immediate streaming at https://www.WarriorTrading.com.

// Helpful Links
Day Trading Chat Room: https://www.warriortrading.com/day-trading-chat-room/
Premium Trading Courses: https://www.warriortrading.com/trading-courses/
Gap and Go Trading Strategy: https://www.warriortrading.com/gap-go/
Momentum Trading Strategy: https://www.warriortrading.com/momentum-day-trading-strategy/
Reversal Trading Strategy: https://www.warriortrading.com/reversal-trading-strategy/
Contact Info: https://www.warriortrading.com/contact/
Twitter: @daytradewarrior @swingwarrior

“Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime”…

// Learn How to Day Trade and Learn How to Swing Trading
As Day Traders and Swing Traders our mission is simple. We are looking for stocks that we expect will move in a predictable direction. We want to take a position with a predefined stop level and profit target. Sounds easy right? In a lot of ways it is. But there are literally thousands of different strategies for trading the market. Every trader has a unique approach to trading. Our goal is to teach you our strategies. I have developed a series of profitable trading strategies for beginners. Our Trading Courses focus on the most fundamental aspects of a successful trade.

// Chart Patterns
After you understand risk management and proper stock selection, we teach you how to find stock patterns on charts. These patterns are how we base our risk and reward. We look for chart patterns that have well defined areas of support and resistance. We will use previous support levels as our stop price, or our risk, and we look at previous resistance areas as our initial profit target, or our reward. If the profit vs loss ratio is 2:1 we will take the trade. I teach both day trading strategies and swing trading strategies. For day trading we focus primarily on 5min charts while swing traders focus more on daily charts. The patterns in general are the same. I teach traders how to find patterns in real-time including Bull Flags, Bear Flags, Flat Tops, Flat Bottoms, and Rubber Band Reversal Setups.

// Trading Strategies
Learning risk management, proper stock selection, and chart patterns is important, but those alone don’t create a trading strategy. A trading strategy requires details on the time of day you take these trades, what type of stocks you like to trade, what percentage to success you expect. All our students are required to paper trade and prove to me that they can trade on a percentage of success that is high enough to justify real trading. If you can’t make money in a demo account, you have no business trading a real account. We have saved students hundreds of thousands of dollars by encouraging paper trading while they are learning. The market will be here for a long time to come. The important thing for you right now is to build up the skills to trade the market successfully. You will learn that once you possess the skills to consistently make $20.00/day all it takes to make $200 is larger share size. Then all it takes to make $2000 is again, larger share size. The hardest part is being consistently green just $20/day. So that is our initial target for all of our students. Profitable trading 4/5 days per week for at least 3 months.

Join our Free Day Trading Chat Room here: https://www.warriortrading.com/free-day-trading-chat-room/

Comments

Warrior Trading says:

What type of equipment are you guys using for your trading stations? Let's see what is most popular!

Matt Fields says:

So why not use the Elgato Stream Deck programmable keyboard on your desk for your trading hotkeys? Is it not worth adding one more point of failure with the trading setup?

Tim Harris says:

1. Thank you ROSS!

2. *(ROSS)* = that is why SOOO MANY people follow YOU, because there are (NO) questions too STUPID for YOU to answer.

3. Thank you ROSS!

Tim Harris says:

1. Thank you ROSS!

2. *(ROSS)* = that is why SOOO MANY people follow YOU, because there are (NO) questions too STUPID for YOU to answer.

3. Thank you ROSS!

Tim Harris says:

1. Thank you ROSS!

2. *(ROSS)* = that is why SOOO MANY people follow YOU, because there are (NO) questions too STUPID for YOU to answer.

3. Thank you ROSS!

SuperUberChimp says:

Could you just use a 50" tv instead of lots of monitors?

Donne Sids says:

Hey Ross, please keep filming "Life with Ross" videos, they are so good

Jeremy D says:

Thank you Ross! Answered a lot of my setup questions

jeanine davis says:

So for someone like myself who is on a tight budget. What are your reccomendations for someone just starting out. I feel like I can add as I go. When the market pays me then I can add on more. Like the necessities. For someone like me your set up seemed a little intimidating. But this is also bc I am studying so all of this lol looks like alot. This prob isn't but to a newbie it is

Mike ES says:

Ross can you share how you have your scanners set up? Parameters, etc

Linda Ellis says:

THANK U !!!!

LucaBG Travel says:

wonderful help

Nathan Neff says:

Totally off topic…..sorry but I have to ask. Can you please put together a video that might shed some light on taxes for day traders. I've heard horror stories from a few people. Thanks and look forward to tomorrows chat room

Nathan Neff says:

This was just what I was looking for!! Your timing couldn't be more perfect.

Enry Capoeira Calisthenics says:

That's great Ross. Just a question: what is the added value of having an external monitor to show the charts rather than using just 1 laptop with ALT-TAB keys to switch from the broker platform page (lvl2) to the chart page in a blink of an eye?
Thanks so much.
Your 2nd-month student. Enry

Cary Clan says:

I have a mix of things. Big Dell Studio computer, it has the original hard drive, but I added a SSD hard drive just for trading. I bought 2 – 32” Samsung 1080 p TVs to use as monitors because they were on sale for the price of 24” monitors and it give me lots of real estate to add charts.. I have two vertical dual monitor stands with the 32” TVs on the bottom and above them are two 24” monitors that are connected to a Mac Mini that runs both windows and Mac OS. The 24” monitors on the Mac are for Chat room, StockTwits, and other internet media, where the 32” TV's are just for trading. If my Dell crashes, can quickly switch to the Mac to complete any open trades…I also have a Mac Laptop should I loose power, I can still login, connect to my phone for internet and close any trades I have open. I think it’s important to have a laptop to access your broker, through internet on your phone to be ready for any scenario where you could lose power and or internet during a trade.

Andy Peer says:

hey ross using vwap on my tc200 it says 50 but on my think or swim it says -2days which one is right

James Driscoll says:

the only thing i would change is the part change the size of text and apps and other items 150% is a bit big now your little 1080s are so small you need to see it on my 4k its way to much the vids see you tomorrow in the room

Flashback says:

Hello Ross Thank You for those Information
I have some question Please , I"m A foreign trader , And the only possibility to deposit in a broker is Paypal , WHat broker do you recommend for foreign client ?

Marian L says:

Laptop HP ENVY m7, Intel i7-7500 CPU 2.90GHz, 16GB RAM and 3 external monitors (watching 3 stocks on 1min, 5min, 1D TF with L2 and T&S and 8 stocks on 5min TF for pattern set up)

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