JayAkmalJay Akmal, is a Californian based ex-American Football player turned Stocks & Options Trader. He started off through a free trading seminar which hooked him instantly. Unfortunately, his first attempt at trading didn’t work out so well; but now he’s been trading professionally for 6 years with stellar results as part of the team at LiveTraders.com.

In the show Jay reveals:

  • The 3 strategies he uses to generate income every day
  • His “Zen like” approach to day trading
  • A sure sign you’re on the path to trading success
  • Why old trading courses won’t work now

This Podcast is Totally FREE.
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32: Jay Akmal on Trading Gaps & His "Zen Like" Start to the Trading Day
00:00:00 00:00:00

Recommended Books

  • Trading in the Zone by Mark Douglas
  • Professional Trading Strategies by Live Traders

Interview Links

Key Lessons

General

  • You must understand yourself first before understanding trading
  • Mental health is the most important factor in day trading
  • Days that you take the least trades are a sign that you are getting out of the randomness of trading and this means you are on your way to trading success
  • Learn from your failures
  • Evaluating yourself every step of the way is more critical than evaluating your trading
  • Track or journal all your trades from both a performance standpoint as well as an emotional standpoint
  • Most of the time traders are reactive. When you become proactive, that’s when success happens.
  • When you can “hand on heart” say you’ve implemented your strategy to the best of your ability you have been as proactive as you can be. Then realizing that the outcome will be random because the market is random, will put you in a strong position.
  • If a trading course was written in 1999, it doesn’t apply to trading in 2016. The market has changed and you have to change with it.
  • Stop subscribing to multiple newsletter/websites that are flooding your brain. Pick one that suits your style, learn the information and stick with it.
  • Keep your charts as simple as possible. The more indicators you have will cloud your judgement.
  • Price is the King and Volume is the Queen
  • Use supply and demand zones to exit and manage active trades
  • Understand why you’re doing this and what you need to do to be successful. Once you have the answer to what you need, then master your skill.

Jay’s Trading

  • He generates the large majority of his income from intra-day trading but also swing trades and core trades from a longer term perspective
  • He’s at 65% winners this month and averages between 200-300 day trades per month
  • He trades gaps because they bring imbalances
  • He has a strategy for the second day runner, i.e. if they are down the first day he may short them on the second day
  • He also looks for daily charts that have momentum behind them and are about to breakout
  • He keeps his risk simple – aims for two times his risk on any trade
  • He keeps a written journal of all his gap trade pre market analysis and categorizes them into 4 tiers, he then does a secondary scan 30 minutes later to ensure they are still valid. He then checks that pre market volume is good and marks his supply and demand zones where he can place trades.
  • Jay then visualizes his trading day 30 minutes before he starts trading
  • 80% of Jay’s trading is Technical and 20% is Fundamental analysis
  • He uses candles, volume and moving averages (21, 50, 233 EMA if reading a daily chart)
  • On an intra-day chart Jay uses a 9 and 21 EMA
  • 9:30-10am Jay focuses on the 1 and 2 minute charts
  • From 11am he focuses on 5 and 15 minute charts for the rest of the day
  • See Jay’s “Go Pattern” on Stocktwits @Ndx100

Jay’s Strategy

  • When price is gaping over a red bar and gaping over consolidation, this is a shock move so pay attention
  • The distance between the gap and the next level of resistance is your trading void on the daily chart
  • Now go to the Intra-day chart to find the best entry
  • Pay attention to when the volume increases at the resistance zone, as that’s your exit point

chart

Jay’s 52 Traders Offer

Email Jay@livetraders.com and mention “52 Traders” to get access to his live trading room at the special price of $99 (normally $147).


HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES, OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES, ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL, OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM, WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

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CFTC - U.S. Government Required Disclaimer:

Forex, futures and options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. Our website, product contents, and materials are neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our website or in any materials. The past performance of any trading system or methodology is not necessarily indicative of future results. Substantial risk is involved. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets.

Don't trade with money you can't afford to lose. Nothing in our course or any materials or website(s) shall be deemed a solicitation or an offer to Buy/sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Trading involves high risks and you can lose a lot of money.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.