This is how I would learn to Day Trade if I could start completely over.
For some context, Ive been trading for about 8 years now. Man I feel old.
I originally went to college for Finance, graduated, got my degree, was thinking about
going into investment banking, you know the whole typical college route.
but ended up not because I got hooked on stock trading. And I realized I can make just as
much money if not more from trading, than a real job
So I studied my ass off. Putting in years of my time to try to learn all the ins and
outs of the stock market. Ive been teaching and mentoring premium members
in my discord for a while now and even made my own private indicator engineered with all
the things ive learned throughout the years about algorithmic trading.
Now I ll admit straight from the get-go. When I first started trading, I was terrible. Like
no actually, trash. And I could imagine now, if I found a video
exactly like this one, teaching me step by step on how to go about learning to trade,
right from the start. Like some wax on wax off type of shit.
It would have made my learning curve go through the roof.
So that s why im making this video. Because I know how much this video would have helped
me in the beginning of my trading journey. First things first. Knowledge is power.
I can not stress this enough. You should ALWAYS be learning and trying to improve your trading.
I to this day, still learn on a day to day basis. Im constantly trying to improve myself
when it comes to trading. I have easily watched 10,000+ hours of trading YouTube videos through
out my years of trading. And even with all my experience, I m STILL
learning new advanced trading techniques every single day.
So I guess the point im trying to get across. Is never become complacent. You should always
be trying to improve. Always. The next tip is probably one of the most important
tips I can give. There are three stages to trading. The learning
phase, the testing phase, and the execution phase.
Now I can not tell you how many of my students, watched the wolf of wallstreet, said hey that
looks fun, watch 3 trading youtube videos, and expect to become millionaires by the next
day. That is not how it works. When first starting out, you should not be
thinking about the profits at all. You should purely be focusing on learning, finding a
strategy, testing said strategy, and trying to improve as a trader.
The profits will be a complete by product of your knowledge. Put in the true effort
to learn, and the money will come later, I promise.
Which brings me to my next point. You should start off with a trading simulator.
Now I know, trading simulators. Boring. I get it.
But listen, especially if you re a new trader, use a trading simulator.
When I first started, I went straight into a live account. Which is an absolute terrible
idea. Like if there is a to do list for new traders.
Step 1 is lose money. Its almost guaranteed. If you re a new trader,
you re probably going to lose money. So you might as well save that money, practice first,
until your confident in your trading ability, then use real money. Trust me, you ll thank
me later. Now the trick is, you have to trade this trading
simulator money like its your very own. Treat it like its real money. Try to trade the same
amounts of money you would if it were real. Try to make yourself believe its real, so
youre feeling the same exact emotions as you would in a live trade. Its lot easier said
than done, but its very important that you try to do this.
You should only move to live account when you have found a successful strategy, have
done thorough testing, learned how to control your emotions, learn risk management, etc
and most importantly, you are consistently profitable with your strategy.
Only then, should you move to a live account. A lot of new traders move through this phase
way too fast and end up losing a ton of money they shouldn t have. Only move forward when
you are truly ready. Do not rush it.
My next tip is find the right broker. Now, this Is a pretty important step. As some
brokers are a lot better than others. I feel like I ve used every single broker
out there by now. Ive tried all the good ones, and have also
used the not so good ones. Ill help you out right from the get-go. If
you are interested in trading forex or crypto, I would 100% recommend HankoTrade.
They have some of the lowest fees and spreads on the market. And also have a very user friendly
dashboard. Plus one of the coolest things about their
platform is that they have a 100% deposit bonus up to 25 grand.
So if you deposit $25,000, hankotrade will literally match that and give you $25,0000
for free. They are just that awesome.
If you want that deposit bonus, sign up with the link in my description. Deposit whatever
you want and they will match it.
Next tip is find a mentor. Now when I first started I personally tried to create my very
own strategy, with my very own rule set, with my very own testing, with basically no experience
in my pocket. There is no need to reinvent the wheel. If
someone else is doing something that works, most likely, it ll work for you too.
That s why Id recommend finding a mentor. There s tons of free information on youtube,
the internet, discord servers, everywhere. I personally post news videos every single
week for absolutely free all with extremely valuable information in them. And there are
tons of YouTubers that do the exact same thing. Find one you like, and watch as many videos
as you can from them. Me personally, Ill just set aside one day
like a Sunday and purely just use that day for learning. That whole day Ill just watch
Youtube videos, read trading books, etc. I would also recommend joining a trading community.
For example, I have discord where you can join for absolutely free and talk to other
like-minded traders that want to learn just like you.
Whats nice about this you can post your charts, ask questions, or even see other people s
ideas and strategies and see what works for them. There are tons of nice people in my
Discord server and a lot of them would be happy to help you on your trading journey.
Plus some of my closest friends today, I met through the Discord Server. So you can build
some really cool relationships. The more people you can meet and learn from,
the better. Surround yourself with successful traders, and you too will become successful.
My next tip is keep a trading journal. I to this day, still keep track of all of
my trades. If I ever have a losing trade, I will take note of it, and look back at it
and try to figure out what I did wrong. Did I enter in a good spot? Was I letting my emotions
get the best of me? Did I exit too early? Did I exit too late? Did I chase a trade?
Whatever it is. I figure it out, so I don t make that mistake again.
This is an absolute game changer. If you consistently realize your mistakes and fix them immediately.
Its one of the fastest ways improve as a trader. You should not only be doing this with your
losing trades but also do it with your winning ones. What did you do right? That way you
can figure it out, find certain patterns in your winnings trades and keep replicating
those winning tendencies in future trades. There are tons of sites, that can automatically
keep track of your trades for you. So you don t have to manually do it yourself. Ill
leave one in the description if you want to check it out.
This next tip is extremely important. You have to realize you do not need to be in a
trade 24/7. Listen I get it, I wake up at 6:30 in the morning every single day, do all
of my stock preparation, morning analysis, look at charts, and some mornings I do all
of that work and wake up extremely early for absolutely nothing, because the market is
bad that morning and I don t end up taking a single trade that day.
Its frustrating, because you basically did all that work for nothing, but you have to
learn that if there isn t a good setup, there isn t a good setup. You shouldn t be forcing
anything. Only enter, when you re 100% confident in
the setup and the likelihood that the trend will go in the direction you want it to. If
the trade is iffy and you re thinking well I might aswell , DON T DO IT. The market is
always going to be here, so there really is no reason to force anything.
One of my favorite quotes in trading is the stock market is a device for transferring
money from the impatient to the patient . Which is so true.
And Id say that s what separates a good trader from a great trader.
A great trader knows when to sit on their hands and not enter in anything.
My final tip is to find a successful strategy and test the st out of it. Luckily for you
in this video I go over one of my very own strategies that has proven to work for in
the past. Go check that out, thanks for watching, and ill see you guys next time.