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Many people have the wrong impression about day trading. They think this is a get rich quick scheme and they can make tons of money in a very short period of time without a long learning curve. This video explains what I have to say about that!
Trying to get rich in trading as fast as possible is one of the WORST things you can do
Big misconception in day trading is that it’s easy….
Fake traders promoting strategies that work 100% of the time. “Make an extra $2000/month using my simple system”
Rolex + lamborghinis + big houses + sick vacations
Automatically gives a false illusion to new traders that this is “easy” and everyone can do it.
There is NO HOLY GRAIL
Not EDUCATING these traders with proper information about the market!
Trading ALERTS are the WORST thing you can follow
Following a process + having an edge + executing = PROFITS
TOO MANY traders go into the market without a plan.
TOO MANY trades go into the market blindly and have NO CONFIDENCE.
Don’t know what they are doing. Operate on a whim. Buy when others buy/sell when others sell.
Need to have an edge. Because an edge brings conviction and conviction brings profits.
STOP buying just when things go up. STOP selling just when things go down.
YOU NEED STRUCTURE
Too many “traders” become ATTACHED TO MONEY
See others making tons of money
See it from the outside, not the inside.
Everyone’s journey will be different. You are in the process of carving your OWN path, not others.
Comparison is the ingredient to blowing up your account
Small gains compound daily. Base hits are better than home runs.
DETACH from the money. The money is a byproduct.
If you want to make money in trading, SIMPLY follow your process, because your process is what makes you money.
Hope you all enjoy ! 🙂
If you have any suggestions for future videos such as Day Trading, Investing, Stock Market, Option Trading, Real Estate, Robinhood, TD Ameritrade, ThinkorSwim, Crypto & bitcoin, Entrepreneurship, Forex, or fun daily vlogs. Please let me know.
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