Watch This Video Before You Start Trading

Please watch this video in its entirety before you begin day trading there are so many aspects that you don't understand as a beginner the only reason you don't understand them is because you are uninformed so in this video I'm going to share with you five amazing tips that will help you start your day trading journey and prevent you from making catastrophic losses and Monumental mistakes first and foremost before I get started in my top five list I want to let you know which is a sta statistic known widely by the entire day trading community that 95% of day Traders fail and the only reason that they fail is because they don't start the process the correct way they see some influencer making tons of money and they jump right into it with thousands of dollars they lose everything and then they quit and or they start with extremely bad habits those bad habits continue and year over year they are unprofitable because they can't get rid of those bad habits you are jumping into an industry that is Extreme extremely difficult there are people out there trying to get your money right there are buyers and sellers the people on the right side of the market will take the people on the wrong side of the Market's money every single day of the week so you need to get to a point where you understand what these people already know okay first and foremost number one on my list is Education and Research before you jump into day trading you must first become educated think of day trading not as a four-year college degree but as getting a degree or a license in some sort of trade whether it's carpentry Plumbing air conditioner repair you get the point you are going to learn a skill set and then you are going to use your skills and knowledge to make money off of that skill set it's the exact same as learning programming you can spend 6 months learning how to program and code and start using that skill set to make money the reason why I say it's not like a four-year college degree is because after four years of college you have to apply for a job and hope you get get something related to that industry where your actual job and salary increase due to the degree that you have which is unlikely I hate college so getting educated starting from the absolute Basics and you need to understand how you like to learn if you're a book learner read trading books if you watch videos and you learn better that way watch as many tutorials and videos as you can if you want a podcast you can also do that you can combine any way of Education that you like that works best for you you just need to get educated first very useful advertisement I run a day trading education company called the trading floor TRD floor.com we teach you every single thing that you need to know from A to Z we have an entire syllabus guide with an Excel spreadsheet where you can check off all of the tasks required from going from demo to funded or personal accounts and actually making money every step of the way we're there with you as well as all of our staff and myself included answering all your questions in the Discord next I want to discuss research this goes hand in hand with that education because a lot of what the financial markets are is fundamentals you have to understand the fundamentals of the market how Banks move their money why they move their money how Federal governments involve themselves in the financial markets and how it fluctuates the price so not only do you need to understand technical analysis and fundamental analysis there are more things that you need to keep in mind which gets me on to the second thing risk management the entire game of day trading is all about risk management it's the same thing when you think about gambling if a professional Gambler a professional Gambler goes into a casino whether to play Blackjack or Texas holdom they have a specific skill set and an edge in order to try to beat the house they say The House Always Wins unless the player has an edge so if your Edge is your strategy your technical analysis your knowledge of fundamentals and on top of that your risk management where you mitigate your losses in each trade with proper risk management whether it's a quarter of a percent a half of a percent or 1% per trade you do not deviate from this risk management plan that you have it is crucial and I want you to tattoo it on your forehead don't do that just get a sticky note on your screen next up on my list is start with a solid plan you need to have a plan in order to go the right direction you can't just start walking and hope that you get there hope is the worst strategy possible you need to take and write down what is your end goal and what are the steps required for you to reach that end goal and where are you now as long as that path your plan is suited to you and your personality type whether you're reading how to learn how to trade or watching videos how to trade and then once you learn how to trade creating a solid trading plan that I trade between these hours on this session on this asset or this instrument and I only trade New York session or I only trade Tokyo session you need to have a plan of how to get from where you are now to where you want to be it's a multifaceted thing and you need to sit and think about it for many many many many hours number four on my list is discipline and emotional control there is a certain aspect of trading that really messes with your emotions you could be the most intelligent analytical person when analyzing a trade seeing the trade set up getting into a trade but after that trade is live all of the emotions of our lizard brain take effect and can cause you to lose that trade or not get as much money out of that trade as originally planned so if you have problems controlling your emotions while you're in a trade I suggest entering a trade and checking it the following day or if you're swing trading checking it I don't know just set alerts for where you're stop loss and takeprofit is so your phone will ping you when your takeprofit has been hit or your stop loss has been hit and when I talk about discipline discipline is the act of doing things that you know that you need to do even though they make you uncomfortable sad hurt whatever it does not matter if you want to get fit you need to diet and restrict your calories and work out every single day you need to do this every day even though you don't want to or it makes you uncomfortable or your body is sore whatever the reason may be you have discipline doing things that you don't want to do that same discipline you need to carry into your day trading you need to trade and practice and learn every single day even on days that you do not want to those are the most important being disciplined in your risk management being disciplined in your education being disciplined in the hours that you trade and not making time for anything else or not getting distracted with anything else and the last and probably the most important on this list is starting with simulated trading on a demo account trading on a demo account is zero risk whatsoever they're fake numbers on a fake account but the actions and lessons and skills that you learn from doing this all correlate and transl at into a live account a majority of people mess this up massively they get on a demo account they do it for a week they do it for two weeks and they're like I I feel like I'm ready let's do a real account you're not ready I wish to God somebody had told me this when I started you cannot transition into a live account unless you are consistently profitable with a demo account you can't open up a demo account have a couple major fuckups delete that account and then start a new one saying oh I've never lost a trade on my demo account no you ignored your mistakes and you can't undo real money losses so what I want you to do is open up a demo account there's a link in the description to my recommended broker Osprey it's a free demo account you can trade immediately for free with zero risk get on that demo account start trading and if you can stay consistently profitable and prove it to yourself with Statistics from your trading journal and your demo account that month over month year over year you are able to make money on that simulated account then and only then are you ready to trade real money and when you do start with $100 because you do not know yet how real money losses affect you emotionally so to wrap it up Education and Research you can get everything you need on TRD flor.com proper risk management extremely crucial start with a solid plan a plan to get educated and a plan to trade good trading plan you cannot go wrong with that discipline and emotional control is quintessential in your day trading especially at the beginning don't learn the bad habits start with only good habits and again the number one start on a simulated demo account zero risk 100% benefit for you you can sign up for a demo count at ospre fx.com second link in the description