Thread of the top 10 trading lessons I’ve learned after making $6M in the last 6 years🧵👇

1. Process > Profits

Becoming a process-oriented trader will greatly benefit your long-term success.

Concentrate on identifying good setups and practicing discipline. The profits will follow naturally. 2. Dont be greedy

To become a consistent trader, it's essential to get comfortable with taking profits.

Many individuals let their trades turn negative due to greed, always desiring more.

Some people master trading in 1 year.

Some people it takes them 5 years.

Some people NEVER do.

🧵👇Heres why: The person who masters trading in 1 year:

Hasnt actually mastered trading at all.

They had a good year and variance was on their side.

That was the case for many people after 2020/2021.

A lot of people made money and suddenly thought they were expert traders.

Unfortunately most people ended up losing everything they made because they thought they had it all figured out.

The smart ones understood they got lucky and used their good year as a launchpad to learn more about trading and focus on building habits and skills that would give them longevity.

Mastery only comes with time and experience. 1 good year means nothing.

You WILL FAIL as a daytrader

If you do not understand the importance of psychology.

Lets dive deep into trading psychology: 𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐏𝐬𝐲𝐜𝐡𝐨𝐥𝐨𝐠𝐲:

Trading psychology refers to the emotional and mental aspects that affect trading decisions and behavior.

It's about understanding the influence of fear, greed, confidence, and discipline on your trading activities.

Essentially, it's the human element in the mechanical process of trading.

This aspect of trading is crucial because markets are not just driven by numbers and data but also by the collective emotions and reactions of traders.

Understanding trading psychology is key to maintaining objectivity, making rational decisions, and avoiding the common pitfalls that emotions can lead to, such as panic selling or overconfidence.

I’m up almost $350k on the year daytrading.

Heres the top 5 things that helped me get to this point: 1. Having rules

I wouldnt be able to trade consistently with large size if I didnt have a strict set of rules I follow.

I always know when Im taking a trade, when Im cutting a loss, and when Im taking profit.

All you need to be a successful trader is just one trading method.

Heres the method I’ve used to make MILLIONS of dollars: When you stick to just one trading method your chances of success increase exponentially.

Mastering one strategy will yield much better results in terms of profits and consistency.

I quit my 9-5 to DAYTRADE full time when I was 24

Since then I went from making $50k a year to $50k a MONTH.

Here are 7 things I learned in the process: (1/7) Risk Management is Everything:

I quickly realized that to make consistent profits, I needed to control my losses. It’s not about the gains I could make, but about how much I could afford to lose while staying in the game.

99% of traders WILL fail.

That is because they lack the proper skills and mindset to succeed.

Heres how to be in the 1%: • Have a plan

Nobody starts a business without a solid plan. Trading shouldnt be any different.

You need a SOLID plan which involves

• Trade setups you will take
• Tickers you will trade
• Sizing you will use
• Risk management plan
• Pre and post market work

If you cant come up with something like this then youre just gambling amd you will end up in the graveyard of busted accounts.

All you need to be a successful trader is just one trading method.

Heres the method I’ve used to make MILLIONS of dollars: When you stick to just one trading method your chances of success increase exponentially.

Mastering one strategy will yield much better results in terms of profits and consistency.

The stock market has made more millionaires than any other business.

If you want to change your life, I suggest putting ALL your effort into learning how to trade.

Heres how to get started today: • Learn

Theres so many resources available to begin learning how to trade.

From books to videos, dedicate your free time to learning the proper mentality and methods to succeed at daytrading.

This Trading In The Zone audiobook is a great way to get started:

Once you get to making $100 a day, the next step is getting to $1000 a day.

Scaling your trading sounds exciting, but most people do it wrong.

Heres the proper way to scale: When you start to scale up you need to do it patiently and carefully, not going too heavy all at once.

Lets say If you are trading $1k positions, increase by ~25% for a week and focus on monitoring you mentality while in the trades.

My goal each year isnt to make more money.

Its to be a better trader.

Heres how I did that this year: I came into 2023 with a goal to trade with more discipline than last year and to keep my losses even tighter.

I didnt really have a financial goal, just to improve my trading.

One way I implemented this goal by spending more time planning my trades each night.

For atleast 2-3 hours each night I go through my watchlist and plan out the zones i would take trades in as well as the levels for my profit target and my stop loss.

Trade less. Make more,

Do you need to understand that when it comes to trading…

QUALITY > QUANTITY

Thread🧵 Improved Decision Making:

By focusing on fewer, higher-quality trades, I spent more time analyzing and selecting each trade.

This meant I was only entering positions when all my criteria were met, leading to more informed and deliberate decision-making.

Theres a lot of different skills you can learn to make money.

But I believe trading blows everything else out of the water.

Heres why: Financial Independence:

Learning trading can lead to significant financial gains, offering a path to financial independence.

As a successful trader you can generate consistent income, which can be reinvested or used to fund various aspects of your lives.

Becoming a full time trader was the best decision I ever made.

But it wasn't a decision I made overnight.

Here's how I made the shift once I achieved consistent profitability: 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐚 𝐒𝐨𝐥𝐢𝐝 𝐓𝐫𝐚𝐜𝐤 𝐑𝐞𝐜𝐨𝐫𝐝:

Before even considering full-time trading, I ensured I had a consistent track record of profitability.

This wasn't about just a few successful trades, but about consistently making profits over a significant period.

I needed to prove to myself that my strategies worked in various market conditions.

You WILL FAIL as a daytrader

If you do not understand the importance of psychology.

Lets dive deep into trading psychology: 𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐏𝐬𝐲𝐜𝐡𝐨𝐥𝐨𝐠𝐲:

Trading psychology refers to the emotional and mental aspects that affect trading decisions and behavior.

It's about understanding the influence of fear, greed, confidence, and discipline on your trading activities.

Essentially, it's the human element in the mechanical process of trading.

This aspect of trading is crucial because markets are not just driven by numbers and data but also by the collective emotions and reactions of traders.

Understanding trading psychology is key to maintaining objectivity, making rational decisions, and avoiding the common pitfalls that emotions can lead to, such as panic selling or overconfidence.

Once you get to making $100 a day, the next step is getting to $1000 a day.

Scaling your trading sounds exciting, but most people do it wrong.

Heres how I was able to scale: 1️⃣Gradual Increase:

Don’t jump from $100 to $1,000 in one go.

Scale up your trading size gradually.

Small, consistent increments will help manage risk.

I quit my 9-5 to DAYTRADE full time when I was 24

Since then I went from making $50k a year to $50k a MONTH.

Here are 7 things I learned in the process: (1/7) Risk Management is Everything:

I quickly realized that to make consistent profits, I needed to control my losses. It’s not about the gains I could make, but about how much I could afford to lose while staying in the game.

My first year trading full time I was making $5k-$7k a month.

Within 3 years I was able to scale to $50k+ a month.

Heres how I did it: Discipline and Routine:

Consistency is key.

I established a daily routine that included research, chart analysis, and risk management.

Sticking to this routine allowed me to stay focused and make informed decisions.

Want to make CONSISTENT money daytrading?

You need to focus on just ONE strategy.

Heres the strategy that made me millions: When you stick to just one trading method your chances of success increase exponentially.

Mastering one strategy will yield much better results in terms of profits and consistency.

When I first started trading, I dabbled with multiple strategies, getting overwhelmed.

I realized the importance of mastering one over juggling many.

The best trading strategy is a SIMPLE strategy.

Too many people complicate the process and just make it harder for themselves.

Heres the simple method I use to consistently make over $10k a week👇 When you stick to just one trading method your chances of success increase exponentially.

Mastering one strategy will yield much better results in terms of profits and consistency.

2018 was my first year trading full time, and I made about $75k.

Two years later in 2020 I made just under $730k.

Heres how I was able to scale 10x in 2 years: Going from $75k to $750k isnt as simple as 10xing your size.

It requires strategy, discipline, and lots of effort.

When you start to scale up you need to do it patiently and carefully, not going too heavy all at once.