Never trust new stocks: PJ Matlock the day trading stock expert

Day trading is among the toughest things to do. It is like a battlefield where you have to focus every day and keep fighting to make a living. It is a ruthless and vicious market, especially for new traders who are inexperienced. Everyone is usually battling to make the most money in a day, and the majority end up plunging deep into losses. Day trading is an exciting and fast-paced trading affair that is full of excitement and despair. Unless you are ready to face high-energy situations every day, then day trading is not for you says PJ Matlock.

PJ Matlock. Image credit: Supplied

His success and accomplishments in the industry stand out and distinguish him from the rest of the stock traders. When he is not busy with his day trading, you will find him managing the chat room, coaching others, and sharing more about his stock picks. He is currently on a nearly 200 days consecutive profit-making streak without making any losses. PJ Matlock amazingly made over $3 million in profit from a small investment of $30k in mid-April 2020. He made the profit within six months of opening a new account with the small investment.

He is arguably among the most followed stock trading experts and understands that day trading works better for him. He believes that a new trader should focus more on learning and never prioritise making profits during the early stages of trading stocks. He advises that your level of commitment will be measured by how much you are willing to lose and still keep trying. His journey is a testimony that persistence, determination, and continuous learning are the most critical ingredients to success.   

Why should you stay away from New and unfamiliar stocks? 

Before everything, you should learn to know which stocks to go for, when to enter and when to exit. Most successful day traders have mastered this art and they can reduce the risk on their investments.  

It’s common to see new traders go for the stock they probably have identified the previous night or the day before. The resulting outcome will always be a lot of losses. PJ Matlock identifies the underlying cause of such decisions as to the lack of a solid understanding of day trading. Most new traders do not have a robust trading system in place. To be successful as a day trader, you need to create a plan that you will use to select the right stocks.

Studies reveal that trade losses among new traders are from trying to hold on to unfamiliar and new stocks. It would be best if you always went for the stock that you have experience with trading or seek professional advice on the best and most promising stocks to trade.

Stock trade chat rooms are good platforms to gain knowledge of the stock market and help you minimise the probability of picking the wrong stocks. You can check out the Atlas Trading stock chat room or reach out to PJ Matlock on Instagram, Facebook, and Twitter.


Presh JM Reporter

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