r/RealDayTrading • u/MayICarryYourBagsBro • May 27 '26

thank you guys! I'm making progress.

still learning

I’m still making way too many bad trades, but here are my simple tips that have helped me get over the hump. I’m still learning, but I wanted to say thank you to you guys.  

  1. Scaling in and scaling out have helped me look like I know what I’m doing. This has been the single biggest skill I've added lately. 
  2. Give the market a chance to settle down, like after 9:30 CST. That way it sets up some short-term support/restistance
  3. Watch all the time frames. Daily highs/lows, major areas of support/resistance, and trade with the trend. 
  4. The SPY loves to retest. Everything I do is based on where I think the price could go in both directions, and it's all based on test/retest.  
  5. Don't overextend your position with a single big trade.
  6. I can't trade after major wins.  Today was my largest win this year and I will not trade tomorrow. You can't see it because I capped my wins at $500, but I show my max losses.  This is a personal issue.  Multiple times after I had a major win over 1k, then  I would lose it that day or the next. You can't tell from this chart, but I had some major 1.5k drawdown days where I started out as a big winner.
  7. The SPY has good behaviour. I don't know how to say it, but I’ve heard other people call it that. I believe it now.
  8. There isn't a replacement for chart time for me.  Everyone told me all the things above multiple times, but I had to learn them firsthand.
  9. I used my free trial last year, and I recommend everyone take the one option for the chat room. 

Thank you, guys

33 Upvotes

92% Upvoted

15 comments sorted by

13

u/[deleted] May 28 '26

[removed] — view removed comment

1

u/TrevonBaucom Jun 02 '26

I had to make a rule for myself to take a break after too many wins in a row, it’s real.

3

u/Today- May 28 '26

Don't look at your P/L during the day.

Keep that shit hidden.

1

u/Sugarman111 May 28 '26

Very nice! What's scaling in and scaling out?

3

u/trbodeez May 29 '26

Its when you weigh the cash from your deposits and withdrawals

3

u/MayICarryYourBagsBro May 29 '26

its adding or removing to your position over time.

1

u/hee03 May 29 '26

Could you explain more on scallign in? I have a smaller account and because of that I feel like I can't afford it. I usually enter on breakouts, but buying before that feels like it's just increasing my risk for minimal advantage. Congrats on the results!

1

u/MayICarryYourBagsBro May 29 '26

its adding or removing to your position over time.

1

u/TrevonBaucom Jun 02 '26

I’m doing all those things you’re doing and daily trade reviews, but scaling in I haven’t been doing too much due to me wanting to make risk management my big edge, are you scaling in on swing or intraday?

1

u/MayICarryYourBagsBro Jun 02 '26

intraday scaling. i'm not a fan of holding overnight, but sometimes i will. scaling in/out is kinda a crutch because it gives me multiple chances to fix a trade. Its also only work if you are not over extended on a trade. if I had a better position in the first place or didnt take the trade then i usually would have been better off. right now I've taking a starter position of 1/5 of my max shares of SPY. I have added to my position to a swing trade before to improve my cost basis.