 Good day subscribers! Today is July 13th Thursday and I'm here to report that I was unable to trade today. A little bit of background really quick. I do trade in the mornings. I do have the mornings off for my day job and my wife works in the mornings and then we switch. We trade off, she gets off the afternoons and I work in the afternoons and we essentially trade off taking care of our three-year-old son and my attention was on my son today and unfortunately I wasn't able to watch the markets but hey it's a great day whenever I get to actually relax and enjoy my son. It's great. It's priceless moments right? Today is trading tip Thursday where I give you a trading tip each and every Thursday for you to become a better trader and today's trade is do not double down. Do not average down guys and I should say that it all depends on your strategy. Something like my strategy I'm a momentum based trader essentially where I trade the momentum that's happening in the markets at that moment really. So when my trade goes against me that would mean that all momentum is gone. There's no two ways about it. So there would be in essence my strategy would not call for an average down. That means momentum went the opposite direction or died down and I'm waiting to see where momentum goes from there so in my case my strategy it would not help whatsoever. It all depends on your strategy. A swing trader would have it would make more sense for a swing trader to average down all depending on the strategy. It's best to go ahead and cut your losses live to see another day so to speak live to see the next trade. There's always the next trade. I have to constantly remind myself as well. There's always the next trade and it's best to save your money for that next trade and trade your setup guys. I do have a bonus for you guys. Really quick I did have I did subscribe to one of those email lists one of those mailing lists that for the most part they're junk it goes straight to your junk mail and it's basically spam but it caught my eye the title of this particular email that I got. It said tax preparations for day traders and that caught my eye might have picked my interest and so I signed up for the webinar. I was unable to actually watch it live. This happened yesterday but I was able to get a recording of the webinar and I'm going to share it with you guys. I'm going to put a link in the description down below. I highly suggest you watch the actual webinar. It is an hour long so it is kind of lengthy but great information. I was able to get through it about 30 40 minutes and I learned a lot. I'm going to finish it hopefully after I get done with this video. I'm going to finish it. I learned a lot a lot of things that I'm going to change about the way I prepare my taxes and how to prepare my taxes easier better faster guys and I highly suggest if you guys are serious about becoming a day trader these are something these are the things that you have to think about taxes. Boy it's a whole different deal it's a whole different ballgame when you're doing your taxes. Well that sums up training tip Thursday guys comment below what you thought about this video did you like it did you hate it and if you thought it was helpful subscribe to my to my channel guys I would really appreciate it guys I do try to make five to ten percent each trade each each day and it doesn't always happen every day but every trade I do go for five to ten percent thank you so much for watching guys