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Patrick Wieland is a day trader who shares his trading journey on his YouTube channel. He describes himself as a momentum day trader, and he trades stocks, futures and cryptocurrencies.
His channel is all about the lessons he learns along the way. He doesn’t claim to be an expert – rather he shares his experience as he tries to improve his trading.
Wieland’s channel has only been going for 2 years, but he has managed to gain 57,000 subscribers. He posts a video nearly every day, usually around 10 minutes long.
Before he got into trading, Patrick was already doing work as a social media influencer – so he knows all about creating content, building a community and promoting products.
These are some of Patrick’s most popular videos:
Beginner Day Trading Mistakes I made
Patrick’s most popular video covers the mistakes he made when he started. These include betting on earnings reports and FDA approvals. He also traded ETFs he didn’t really understand, and particularly recommends new traders stay away from leveraged ETFs. Of course, like most traders, he started out trading positions that were far too big for his account size.
Stop trying to learn day trading strategies
Possibly his best video looks at the distinction between learning by trying to find the perfect strategy and learning by actually trading. This is a lesson not many trading educators teach.
If you focus on trying to perfect all the details of your strategy, you are likely to go in circles. Rather, you should think about the overall approach you are using and focus on executing it.
Learn to day trade! The simple guide
This is a longer video, and literally is a crash course in day trading. It’s not going to tell you everything you need to know, but it will tell you as much as you’ll ever learn in 32 minutes. This is a must watch video if you are considering becoming a trader.
The video specifically covers small cap day trading. It emphasizes the importance of being prepared before you make your first trade. When you start out as a trader you need to keep things simple, keep trade size small and focus on execution. Over time you can add new ideas to your approach – but when you start out you really want to focus on the basics.
SureTrader Broker Review DAY TRADING UNDER 25K!
This video offers two useful insights. Firstly, Patrick looks at what you need to do to trade a small account profitably. It’s important to be set up correctly to make small accounts work, and he discusses this in detail here. Secondly, he explains how and why he uses the SureTrader platform to scan for stocks to trade. The first thing any trader needs to do every day is find the right stocks to watch and potentially trade. This video does a good job of explaining what to look at to find those stocks.
Patrick promotes products and services from the industry on his channel and on his website. He currently promotes Speed Trader, a high speed platform for active traders, and Coinbase.
Patrick’s channel compliments a lot of the other trading related videos, courses and tutorials you’ll find on the net. If you follow him, you’re going to find out what the process of learning to trade is all about.
You’ll also learn to be more realistic about your trading. The pros often make it look too easy, which creates unrealistic expectations. It’s easy for experienced traders to forget what it’s like when you are starting out.
It’s worth watching his videos, if only to remain grounded. When you watch Patrick dealing with the real issues a trader faces every day, you will be far more realistic about what you need to do to succeed.