Day-Trading-Addict
This video features a day trader who shares valuable insights gained over his 16 years of trading. He advises traders to have a good track record and enough money saved up before quitting their day job, and emphasizes the importance of "less is more." Keeping a written record of trades and being comfortable with a small account are also important. He stresses that trading is not about being right all the time, but rather it is about taking the right trade. The speaker also advises traders to invest in themselves through education and to seek out those who are smarter than they are. Finally, he recommends patience and doing the right things from the start in order to succeed more quickly.
In this section, the speaker shares how he got started with day trading and the important lessons that he learned throughout his 16 years of trading. He discovered trading when he was buying and selling cars and met a guy who was investing in stocks. He started with a small investment of $1,000 but lost it all when the company went bankrupt. He then started trading penny stocks, Futures, Forex, and now trades the NASDAQ. He emphasizes the importance of showing up every day and putting in the necessary time to study the charts, backtest setups, and become a better trader. He also advises having enough money on the side before quitting a job to trade full-time.
In this section, the speaker shares several important lessons he has learned over the course of his 16 years of trading. He advises that traders should have a good track record and enough money saved up before quitting their day job. He emphasizes the importance of less is more, cautioning against trading all day as this can lead to more mistakes and losses. He also stresses the importance of keeping a written record of trades and being okay with a small account, while not avoiding discomfort. Finally, he underscores the idea that trading is not about being right all the time, but rather it's about taking the right trade.
In this section, the speaker emphasizes the importance of learning from people who are smarter than you and investing in oneself through education. The speaker shares that he had trouble seeing success because he didn't invest in himself early on, but once he started spending thousands of dollars on his education, he saw a big difference in his trading. Additionally, the speaker notes that trading takes time, so it's important to do the right things in the beginning to avoid taking eight years like he did to see success. It's best to be patient and have the proper training and knowledge so that success can speed up.
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