Changing my strategy every time I came across a new day trading YouTuber did not help me become a consistently profitable trader.
Reviewing my trades and figuring out what I did wrong got me here.
Testing a trading strategy does not mean taking 1 or 2 trades, losing, and then saying, "it doesn't work."
Take at least 10 trades, then, 20 trades, then 30 trades.
This will be more than enough for you to see if the strategy is working for you.
"Buy low and sell high" doesn't necessarily mean buying at the bottom or selling at the top.
No one really knows when that is. So, I like to take my profits when everyone else is buying.
Learning how to become a profitable trader is going to take 10x more effort than you think it will.
This doesn't mean that it's impossible.
It just means that you can't study few times or every blue moon and think that you're going to withdraw money from the markets.
A "continuation trade" (following the trend) has a higher probability of working out vs. a "bounce trade" (reversal trade).
Be OK with missing bounce trades and your account balance will thank you. 🤑
Some new traders are funny...
They'd rather put $10,000 in to a trading account (over time).
Lose it all...
Than pay $2,000 to work with a mentor...
who can show them how to make $100,000 (over time).
You cannot be a successful trader without losing money.
Losing money is a part of the game (in the beginning).
You have to put in the work to reverse the order.
Successful Trader Ingredients ✨
10% - Gain general understanding of trading
30% - Finding the right mentor FOR ME
10% - Trust in myself to do the work
20% - Continuing when the road gets tough
30 % - Constant belief that it WILL WORK (if I keep doing my part)
You can't make your first $100k from the market w/o making your first $10k
You can't make your first $10k from the market w/o making your first $1k
You can't make your first $1k from the market w/o making your first $100
Learn the basics, get a mentor and keep going. 💪🏽💪🏽
Staying comfortable will not help you become a profitable day trader
Disobeying your trading rules will not help you become a profitable trader
Trying to do it on your own will not help you become a profitable trader
Stop being stubborn, become a profitable trader