It’s easy to gain $10,000 every week in the markets , but it’s also easy to lose $10,000 in a couple minutes. Be humble , and make sure to withdraw profit before you laugh to the bank
📈 How To Be A Profitable Trader 📈
1.) Have one or two technical strategies that you can use on a daily basis. (I like support, resistance, and 20EMAs)
2.) A set group of stocks that you trade daily
3.) Risk Management
4.) Mental Toughness To Walk Away
Let’s say you buy a AMG GT for $2300 per month. This car can easily go for $600 per day depending on the market! After renting it out for 7 days you’ve made $4200. $1900 is profit and you get to drive your dream car for practically free!
Got a little money from trading and want to buy a car now? 🚗
Turn it into an asset by renting it out! Doing it through Turo or even privately works! 💰
(Read Next Slide)
Never stop learning – The successful trader never sits on his laurels, he’s always looking to trade smarter. Doing that means staying up to date with the news, utilising trading books, and joining groups. Markets evolve and you need to evolve with them
Manage risk – It is vital you sit down and develop a risk management strategy. This will ensure you only lose what you can afford. Without one of these, your time as a day trader could be extremely short-lived.
Always have a plan – The most important of all tips on day trading. Don’t put real money on the line until you have a plan of action. That means know what you’re buying and selling, how much you’re going to trade and when you’re going to trade it.
Use the 20EMA when trading to determine when you should buy the pullback after a breakout! I like to buy in lightly and slowly increase my position before I sell all!