day trading ruin my life do you want to become a day trader have you tried and
failed before here's five reasons day trading just isn't for you day trading
is one of the hardest things become consistent at not because it's
impossible but trading will pull at every single one of your human instincts
if you truly want to become a consistently possible day trader you
need to do these things I'm going to explain these five things that are red
flags red flags that you need to identify in yourself and you need to
decide is this really something that you can do or you have the willpower to do
before I do that help me help you in subscribe this channel that's all I ask
help me help you I'm going to start from the bottom of the list at number five
we're talking about the biggest flaw that every new day trader has and that's
you will not get rich overnight if you're desperate for money if day
trading is your last-ditch effort at making money you need to walk away right
now that emotion alone will destroy any chance of you becoming consistently
profitable it's simple if you're here to get rich today and stop while you're
ahead you will not get rich fast number four and this is really up to you are
you willing to work no I'm not talking about working nine to five I'm talking
about working 24 hours a day and always thinking about the market when everyone
else you know is at the bar getting drunk are you willing to stay home and
focus on learning just because you can open a day trading account with no
experience and skill does not mean you're ready to date rate as we get
close to the number one reason you shouldn't be a day trader you might
start relating to some of these issues and wonder if I'm talking about you and
there's a good chance I am number three are you able to handle losing because
remember this is day trading not just profiting you have to trade and that's
why we required taking some losses the important thing is can you mentally and
emotionally handle losing money in second are you going to be able to cut
your losses fast as a stock is crashing are you going to be able to cut your
loss like you plan so many day traders fail at this because they mentally
cannot handle this idea in the moment as a stock is plummeting they freeze up and
they can't react so ask yourself are you able to handle losing money real money
this isn't a game this is your real hard-earned money gone in second number
- can you sit in front of the computer for hours can you fight off boredom and
keep yourself from over trading and boredom trading I see so many new day
traders make money in the morning on a few good trades and then lose it all by
the end of the day because they get bored and they try to force trades if
you have issues of being bored force yourself to only trade 2 to 3 hours then
walk away be done for the day take your profit and go number one are
you a gambler becoming a consistently profitable day trader requires you to
trade like every penny matter no gambling ever never exceeding your risk
tolerance you don't go all-in on stock that is flying higher because you just
want to get quick buck that's how you blow up your town if you're just trying
to feed your gambling obsession and stay away from day trading you have a better
chance in Vegas the stock market will take all of your money faster than you
can deposit it this is not gambling we are using defined levels of risk and
tolerance to inter trade setups that we find and focus on no gambling seriously
write that in the comment section below no gambling make it your mantra focus on
the idea of never gambling this is not gambling we are day trading it's so
simple but 90% of day traders will fail because they gamble now if I offended
you or you feel like everything I talked about describes you as a day trader
don't be discouraged everything I just talked about described myself when I
first started day trading I had every single one of these bad tendencies that
were red flags it took me a long time to realize my flaws and overcome them you
can do the same but will you if you really want to make it in this market
it's going to be a rocky road full of ups and downs you will test every
emotion and you will want to quit multiple times if you can manage to
remove the emotion and remove all the bad tendencies I talked about in this
video you can become a profitable consistently profitable day trader no
day trading course book or DVD can change your emotions it's up to you and
your determination will day trading ruin your life
you