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Chart Pattern Trading via Day Trade Stock Options Intro

Follow a proven action plan for day trading stock options with Chart Pattern Trading.
Instructor:
Scott Paton
15,746 students enrolled
English [Auto-generated]
Understand what Options and how they work within the confines of a financial management strategy for your capital
Know what Call and Puts are and when to use them as you trade.
Spot good profit opportunities in the markets.
Practice trading successfully.

Day Trading is talked about and seems mysterious. Some people are quietly very successful while the masses are warned about the dangers. This course takes away the complexity and shows the non-technical (and some technical) parts of trading Stock Options, such as Chart Pattern Trading.

The course includes examples of good and bad indicators. This course has the rules for trading successfully and why they work.

We start out with basics that you need and go directly to the proven trading system rules. We cover the important elements: What, Why, When and Where.

If you’re looking for a fast path to successful trading, and want to enjoy a 4-hour work week, this course can get you very close to that goal. We have a follow-up course, “Stock Options Trading – Make Money & Income From Day Trading” that covers any remaining questions people have, how the software you see in this course works and some trading strategies. Our advanced course: “Day Trading Stock Options 3 – The Cornerstone Method” is now available.

Start your journey to financial success today!

Introduction to Day Trading Options

1
Welcome

Trading is one of the uniquely modern ways to become wealthy in a relatively short time. These financial times hold an amazing opportunity for people that take advantage of it. This course is a clear path to repeatable success as a trader. (Enjoy more of your life. The less-than 4-hour work week is right here.)

2
What to Expect

This is an introduction to Investing and focuses on Trading for faster profits and lower risk.

You will know the What, When, Why and Where for trading. These facts are necessary for repeatable success.

3
How to Get the Most Out of This Course

Simple strategies are the best. Being relaxed as the lectures entertain and educate is the fastest way to absorb it. Don't take notes the first time through since the points are delivered crisply and are very visual. If you need to watch it again, it's always here for you. Note: Being critical of the content will distract peoples brain (lower IQ during learning and reduce learning rate).

4
Goal Setting

We teach 10% in 10 minutes. We look at risk and reality. See a chart of growth from a University Finance professor. See what a $1,000 account or a $25,000 account can do in a year. Don't expect to hit this goal on the first try. Greed versus Fear. Once in a while you can hit a home run, but think of it as gravy and not your bread and butter.

Stocks, Options and Charts

1
What is a Stock?

Allen explains what a stock is.

2
What is an Option?

An Option is a contract that can be bought and sold. It has some rights and conditions.

3
Overview of Day Trading tools

There are a few tools that Day Traders need for high-speed income. {Charts, Brokerage Account, Indicators} These will be covered in more detail in this course.

4
Chart Types

Charts are the primary way that traders get information visually. This is an introduction to charts.

5
Stocks, Options and Charts

Calls and Puts

1
Options Explained

The types of Options and the elements that go into making an Option.

2
What is a Call?

A "Call" Option is intended to make a profit when the Stock rises.

3
What is a Put?

A "Put" Option is intended to make a profit when the Stock falls.

4
Picking Stock Options

Of the 7,000 active stocks listed on the NYSE only a small fraction have options worth trading. Get the criteria for picking an option. There are over 1 million option codes. Only a few are barely worth our attention. Goal is to have 30 stocks to watch.

5
Following the News

Most people listen to the news for tips on what to trade. Know the advantages and disadvantages of following the news. Professional traders use the news differently than the general public does. Resources include links to books that talk about how News doesn't work for people as Tips.

6
Following the Trend

Why it is better than looking at the news? Examples of trending in ordinary life. Examples of stocks that trended. Blending News with Trending for investors. Trending is great for Traders!

7
Indicators

What are indicators? Why we use them.

8
Importance of Practice

Practice makes better. Don't need to be perfect. Need to be professionally skillful when trading. Start with practice until you know you are great at trading - without risking money.

9
How to Practice

About the Replay function. {Just moving back and forward and using the buy calls/puts window showing no indicators, randomly winning and losing based on eyeballing the candlesticks.} [** Use sports examples and medical examples - Doc looking at xray. **]

10
Calling All Puts

Options Trading Made Easy

1
Browser or Install software?

There are times when installed software has advantages over browser pages. The limitations of browser versus importance of Day Trading with money. Portable isn't as important as professional. Entry and exit in short timeframes. Focus on best app you can find for 20 minutes and then enjoy the rest of the day.

If you go with any service or software, just be sure they have indicators that work for you. The K-Band and M A Genius are examples of great indicators. I find the MACD is too slow. Over 600 indicators out there and you'll find people that love various indicators. I recommend that you get repeatable success no matter which ones you like. It must be a system of simple rules.

2
Practice Trades

Look at a couple random dates and stocks to watch and see the trade developing. This is like what we are do everyday in real trading. You can pause and confirm that you can run through the Replay and make 10% in 10 Minutes, then come back to see the trades.

3
More Practice Trades

Showing another random day and the trades rules.

4
The Rules for Options Trading Success

For highest probability of success, we want "the wind at our back". We move with the tide, not fight it. We use human trading patterns (emotional trading of others) to make for more reliable conditions for ourselves. Investors are pushing the market or a particular stock in a direction with their desires. We ride along. We are looking for those conditions to be met *first* and then we act. That method eliminates forecasting, guesswork and hoping for success.

5
Testing Your Theories

This lecture isn't for everybody. It's technical and detailed. It is for people that want to explore trading ideas. As you become more familiar with Options Trading, you are exposed to different strategies and indicators. How do you know they really work? Hindsight is a teacher, and in the markets, patterns repeat themselves because it's driven by creatures of habit: people. A trading system needs to have repeatable success. If you develop something, please test it thoroughly. This lecture gives guidance to those that want to build a unique system of their own.

6
Ready to practice?

Brokers

1
Using Your Broker

If you want to buy or sell in the Stock market, you need a brokerage firm.

2
The Sound of Money

What do you know about Brokers?

Conclusions

1
Ready to Trade With Real Money

To trade successfully, you need to be set up for success. Your brokerage account has to be set up. You have to have completed at least 15 practice trades. Then you are ready to move into the 'Live' version of WoP. [ Brokers often have simulated "demo" account... get good at clicking your order. Most common mistake by far is clicking the wrong buttons: Buy/Sell Call/Put. I always prepare my exit order right after getting the entry order filled. Makes that part simple and accurate.]

If you plan on "10% in 10 Minutes", you should be prepared to exit trades almost as soon as you enter them

2
How did the Market do Today?

Live Trading is an extension of what you learned in practice. Here is a view of the Live market and some information about trading volume.

3
Daily Option Trades Making 10% in 10 Minutes
4
What To Do When Your Trial Version Expires

Allen walks you through the process when your trial version of Waves of Profit expires.

Bonus Lectures on Trading

1
Our Student Made $45.000 in One Day!

$45K! Huge day for one of our students. The Chinese stock market melted down (crashed) and pulled down the stock market in NY and around the world.

I interviewed David and asked him how he did it. Then Allen and I dissected the days so you have a blow-by-blow description of the events.

The recording is not available in the course, but you can watch it on our closed Facebook group page.

https://www.facebook.com/groups/wavesofprofit/

2
FOMC Day - What Happens When The Fed Makes a Scheduled Announcement

Allen shows advanced strategies where he made two trades in less than 30 minutes: one made 30% and the other 20%.

3
Trade Review January 19 and 21, 2016

Allen and Scott are joined by a successful trader and discuss two profitable trades on January 19th and 21st as well as the outlook for the market.

You can view and review the lecture materials indefinitely, like an on-demand channel.
Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don't have an internet connection, some instructors also let their students download course lectures. That's up to the instructor though, so make sure you get on their good side!
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Includes

3 hours on-demand video
3 articles
Full lifetime access
Access on mobile and TV
Certificate of Completion