[00:01] can actually get rich with this or if it's just luck and mind you I've only ever bought stocks to hold them long term so this is completely new to me and according to the internet 95% of day Traders never make any money and I don't
[00:14] want to end up like all those people so I knew I needed a plan before going into it so I spent 2 weeks learning what I was going to trade and how I was even journey I don't want to bore you with
[00:26] the details too much but basically I decided I'm going to predict small price are traded worldwide which seems pretty easy right that's what I thought too until I actually started so we're now on day one and
[00:40] after waking up at 9:30 for Market open I spotted an opportunity for my hours of money from and something unexpected happened after I placed my trade I the direction I wanted it to and then it completely reversed and honestly I had
[00:55] no clue why I thought I had just gotten unlucky for my first trade and man did I have so much to learn now the next few days after that were no different loss screenshots you might be wondering what was I even seeing that made me choose to
[01:09] buy or sell and frankly I'm wondering the same thing so the strategy I've gone for is to play off of trend reversals because the majority of the time the higher highs and higher lows and that's an uptrend or it makes lower lows and
[01:23] lower highs and that is a downtrend and literally all I'm doing is looking for when the trend shifts so all that means is that we've moved from a previous uptrend to a now downtrend and that's where I'd be looking to place my trade
[01:37] with the idea that price will continue in the direction of the newly formed back at the recent trades you'll notice how I literally didn't do it for any of them and this was my first lesson the reason for it was because of the way the
[01:50] market moves because when I'm viewing a stagnant snapshot of the past when could have entered a trade to make money but when actually watching the market short term which caused me to mess up my trading and so the only way to stop this
[02:04] is to Simply have more patience because you're avoiding the initial fomo or fear looking at and sometimes that might mean that you're making a little bit less so from then on I made sure that that was something I was focusing on now the
[02:18] very next day I happened to win a very small trade but it was a profitable one and I felt on top of the world it genuinely felt like I had the power to could compare to how satisfying that was to pull off and so riding that high I
[02:31] took two trades the next day took a fat L on both but I got teased on my one trade and then going the way I wanted it to and so although it emptied my wallet confidence High because I predicted the overall trend and so that was just me
[02:45] getting unlucky right and then day six rolls around and that's where things started to pick up I took my first sizable win at two risk to reward meaning it makes back two times what I normally lose and riding that high I
[02:57] wanted to learn more but it was the weekend and the markets are closed so I started testing my strategy on price movement that's happened weeks ago which difficult as a live market but it's good for practice and so that weekend I went
[03:10] over as many scenarios as possible to test my strategy and I was profitable so profitable in fact that on average over all the wins and losses I made 1.3% of my account's value every single trade as profit that is huge that means if I
[03:24] started with 10K and placed one trade a day for an entire year I would have nearly $300,000 the end of the same year to me this proved my strategy was more than good enough which made it so much easier to ignore all the bad trades that
[03:36] confidence in the strategy I'm using because I knew it worked and I went on a crazy win streak I didn't lose a single trade for the next six trades I placed previously had and when the win streak
[03:50] ended it was only for a single trade but my confidence was still Sky High to look for and so I was completely locked in and so I continued the win streak losing only one trade for the next seven at this point I got nervous
[04:03] because this was quite the statistical anomaly already and I was feeling good too good where it was almost unbelievable to how many wins I hit back some losses to balance it out and so I tried to prepare myself mentally for
[04:15] that but it didn't make it any easier when it actually of a win streak I went on nearly just as big of a lost streak the first few
[04:29] from a technical standpoint I still waited for my setup and I still took the learning about how difficult the psychology actually is because after those few losses and coming back to trade again I was taking worse and worse
[04:44] setups because I just wanted to make the money back or start up another win streak again which only pushed my losing streak further and further and so I lost six trades in a row with the first one or two being pretty solid losses and
[04:56] rolling the dice hoping to make my money back which as you could imagine just kept snowballing because I got more and more frustrated with each loss I took and so I decided to take a few days off just to get a full mental reset and come
[05:09] into the day completely fresh I tried my best to forget about the recent trades look for my setup and I managed to pull out one winning day followed by three appreciated all the losses that I had experienced because it made me more
[05:24] detached from the balance on my account which is a key to trading successfully I found that as soon as I started chasing the dollar sign going up my trading would go absolutely terribly because I wanted to make money specifically it
[05:37] would make me take on more risk because I would unintentionally ignore certain signals that would normally stop me from taking trades in the first place and so counterproductively I just lose more money and I went back to looking for my
[05:49] strategy with a renewed Focus but I did not pop off again for the last week I had no more historical win streak I used all my luck but it turned out that was journaling I I would also keep track of all the data and averaged out over the
[06:02] entire month I would make around 2.6 times what I would normally lose meaning all I needed was a 39% win rate or preferably greater to be able to make money in the markets and that led us to the final balance of the challenge if I
[06:17] truly made money over this month and to my surprise I did I managed to pull out an extra 5% from my account balance over the entire month of trading which is happy with that I just know that I to trade for a lot longer to be fully
[06:31] confident in my data most people say that you have to have at minimum three digits of Trades to be able to even have a loose idea of your win rate so this luck and I won't know that until I get to that three-digit Mark and to be
[06:45] trading that I can't see myself stopping anytime soon so in summary what did we learn first is patience I need my setup confirmed before entering second is don't chase the money as soon as I get greedy I compromise my setup and third
[06:59] stick with it and to answer everyone's question that I know you're thinking can no you won't be able to but you can learn a lot of skills by day trading every single day for a month and so I highly recommend it I also want to say I
[07:13] did this full month without real money because I kind of don't have the money to spare but all the trades shown were real that I traded live and it just bit longer so if you want videos on that do consider subscribing because it tells
[07:25] me that you like this kind of content that's all though bye-bye