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this is something that I've noticed something that I noticed that I suffered
when I first started day trading and I think if you watch this video you're
going to understand it you're going to be a better day trader tomorrow so why
do new traders think they can become profitable right away why do people
think that they can open an account and start making money in a stock market
right away why is that why is it it's an instant gratification people think that
they can start trading they can watch one DVD they can watch one YouTube video
and then start making money and sure you might get lucky you might get lucky or
worn two trades and then boom you're going to lose or you're going to get
stuck in a trader so we're going to happen because you don't have the
experience and you don't have the emotional capacity to be able to handle
a loss to be able to handle a win in terms of being greedy or taking your
profit when you have it and that's one of the things I keep trying to express
people people in the chatter and people that email me I try to explain this
simple simple theory it's the idea that you're going to be a better day trader
tomorrow the things that you learn today will in turn make you a better day
trader tomorrow if you keep making the same choices over and over and those
choices end up with bad results over and over why do you think that they should
change why will they change the day trader that I was a year ago is totally
different from the trader that I am today I basically used to gamble on
stocks I would buy penny stocks or I'd buy stocks with news and I would hope
they go up a little bit and I would buy more or I would just get caught and they
would start crashing and I had no real clue what I was doing now I look for key
indicators that I identify and I can see on the chart I can see stocks that have
the right ingredients to make money and I have been able to replicate that over
and over every single day I've been able to be profitable every single day I've
been consistently profitable for last like two or three weeks now it's not
rocket science it's not that I've figured out some
secret formula it's not that I have some crazy computer algorithm that allows me
to get in on stocks that nobody else knows about I'm trading the same stocks
to everybody else trading I'm trading the same stocks that every other day
trader is losing money on or they're making a little bit of money and there's
a reason for that the reason I take profit when I have it the reason I cut
my losses faster than anybody else the reason that I'm very selective with my
entries it's all about learning from my mistakes the mistakes that I made in the
past where I would get in on stocks I would over trade I would make 30 40
trades a day and at the end of the day I was like holy cow I just paid five hours
and commissions and I only made a hundred bucks so that was terrible and
now I've I've learned that there's no need to
over trade there's no need to force trades there's no need for me to be in a
trade every single minute there's days right sit there I might make one or two
trays the morning and the rest of day I'm done I don't make any more trades
and that's fine and I'm fine with that you're going to learn about day trading
every single day at you day trade you're going to learn and it's going to help
you become a better day trader if you can stick it out if you can get through
that first three four months where you just have no idea what you're doing
where you're learning if you can get through that patch you can keep on head
and higher if you can find strategies that are working if you can become
consistently profitable even with small size I tell people all the time don't
worry about size just worry about executing trades worry
about executing profitable trades sure you made five dollars on trade but it's
still profitable you only bought a hundred shares and you sold it and you
made five dollars it's not a big deal it's not the idea oh I mean it's kind of
money it's the idea that you're executing so how do you that you're
getting in and out of stocks you're finding those opportunities and you're
capitalizing when those opportunities there you're not just forcing trades and
that's really what it's all about it's the idea that tomorrow you're going to
be a better day trader I promise you that if you do work hard if you do learn
if you do stick to the rules if you follow the plan over and over if you
follow the plan every single day and you consistently learn more and more and
more you're going to be a better day trader even in the last four or five
months I became a better day trader I've learned how to get in and out of stocks
faster I've learned how to take profit when I have it I've learned all these
things if you watch the videos my first art making videos I was literally used
in my mouth I was using mouths to get in and out I was moving the price around
and now I'm just in and out with hotkeys I can get in and out of socks a shoe the
most people can even get into a stock those days where yeah I think probably
too early but doesn't matter because at least I take profit I'm not losing you
know I remember ninety cent of day traders are going to lose every single
day those traders who are going to blow their accounts are going to be out of
day trading their day trade for a month two months and they're going to be done
I'm not going to come back those first two or three months are the most
important month those are the months you really need to focus those are the
months that you need to be consistent this is a month's that you need to be
learning don't worry about profit don't worry about making a ton of money when
you first start dating because it won't happen anybody can buy a stock but are
you able to get in and out fast enough are you able to take profit when you
have it so those are the things that you learn in time those are the things that
you learn once you really dial in your broker one
to dial in your hotkeys once you figure out how to get in and out of a trade
fast how to take profit when it's there it is this takes time so you just kind
of keep hammering the idea hammering that idea that you're going to be a
better day trader tomorrow hammer that idea guys you will be a better date here
tomorrow but you have to get there first you can't blow up your account today and
not be able to date you tomorrow the market will always teach you something
new so you take it to that point and once you've that point you'll figure it
out but until then just remember the idea that you're going to keep learning
don't give up don't stop now because tomorrow you'll be a better day trader