How To Start DAY TRADING - Becoming A Crypto Trader IN 30 DAYS

[00:01] I would do if I had to start my whole entire day trading Journey over again and I'm self-taught so I've made every single mistake in the book that cost me a tremendous amount of money but most importantly Wasted Years of my life so

[00:14] if you're coming with some experience or you have zero trading experience this checklist of all the most important things that you need to focus on to set yourself up for Success okay so we're going to talk about softwares tools

[00:27] share with you how to access Capital starting with a small amount of money to be able to take big positions and I'm going to show you tips and tricks along the way so that by the end of this video you're going to have a clear cut path to

[00:40] start your day trading career without wasting unnecessary time and money so if like button on the video subscribe to our Channel if you like trading and Instagram Discord okay guys we just fired up a tick tock so make sure you

[00:54] content that we're dropping uniquely on there so in order to figure out what we Trader or someone that needs to revamp their trading we first need to identify what we shouldn't be focusing on and I'm going to identify a common trap that

[01:09] most beginner Traders run into they will basically halt your progress and basically put you into what I call the spin cycle okay so let's talk about that trap and how to avoid it okay so when people first start trading the first

[01:21] is get onto an exchange maybe try to find a pattern online and start trading it okay most of the time because you don't know the risk implied you're actually able to be braver than most people and you're probably going to make

[01:34] you know I'm actually getting really good at this whole trading thing I more money okay the next phase is going of a sudden it goes dramatically against you and you're like oh wow I'm down a

[01:47] lot of money I can't sell this position because I don't want to realize a loss position to come back position comes back to your entry you take some profit says oh all I have to do is wait on my my position if it's going against me it

[02:01] will come back and you'll be able to make money and not realize a loss so you'll carry that psychology forward until phase three which is what I call a catastrophic loss this is when the position goes against you you deploy the

[02:13] same tactic of holding that position but then the trade doesn't turn around back in your favor and the loss is so significant that you're forced to take a huge chunk out of your account this is where beginners go into the discovery

[02:25] acquire all sorts of new information and this is where the Trap starts if you down this trap it's going to be very hard for you to recover without switching your mindset and how that psychology is actually wrong okay the

[02:39] intuition that makes you successful in normal life deployed in trading will actually make you the worst Trader in the world which is why roughly 90 of Traders fail because they can't rewire their mindset so let's get into the math

[02:51] once you understand it okay so when we're talking about trading it comes down to two basic statistics average risk reward an average winning percentage so how many times are you winning trades versus losing trades and

[03:05] trades you do win versus how much you're risking on the trade that's going to be your risk reward calculation so let's pull up a calculator so that we can see I'm going to show it to you on a chart so that we can understand how this works

[03:19] so say we have a 500 account and we're risking one percent of our account per trade and we have a one to two point five risk reward meaning if we're risking a hundred dollars in the trade we're making 250 when we're winning the

[03:31] trade and let's say our winning percentage let's say it's 35 35 is stats you're going to realize that it actually doesn't matter too much okay so starting with the 500 account over a hundred trades right with these

[03:45] hundred trades right with these statistics being wrong 65 of the time we've increased our account by 37 this is why you need to understand these stats it has nothing to do with being right all the time it all comes down to

[03:58] the math behind this so let's understand risk factors let's say that we wanted to take a position in the market right at this level if we are wrong and the market continues to push down into this level here this is going to be our one

[04:12] unit of risk meaning if this trade comes up and hits this level we're going to be making three risk factors which is going to give us a 300 profit if we're risking a hundred dollars that's what we mean by risk reward so if we know that this can

[04:25] happen 35 percent of the time we can be wrong 65 percent of the time and still grow our account by 37 as humans we're wired from children to be taught that being wrong and losing money are two behaviors that need to be corrected what

[04:39] we teach to our premium students is the fact that when you're taking trades the risk that you're putting on the table as long as it's uniform and contained is simply opportunity cost to get into the market to be able to exploit this exact

[04:51] Edge okay so as you become a better Trader say your 50 win rate so you're right about your trades half the time look at the profit potential that you can make even on a small account and something that I always emphasize with

[05:03] my premium team is the fact that it's really about generating a consistent process with a small amount of money if we can make 156 percent with a 500 little bit later in the video but with leverage we're going to be able to use

[05:16] fifty thousand dollars pretty easily starting with you know 500 account right so if we're confident in our process and we run this calculation over a hundred trades you can profit sixty five thousand dollars so say we're taking a

[05:28] hundred trades over that period say we can take two trades a day that's going to be 50 days so if we divide that over 50 days if we're following the stats we're averaging thirteen hundred dollars per trade and this is the exact concept

[05:41] that I deploy when I'm able to make two three four thousand dollars on each mastering a small process and then figuring out how to scale that so that larger numbers okay so let's go over finding a setup where we think the

[05:55] market is going to make a move let's talk about positioning ourselves so that that so that we can keep our risk rewards static and then I'm going to able to review your own trades and improve your process okay the software

[06:08] can put this in the description of the video if you're not already using it but basically it's very clean cut and with my main style of trading I'm really not there's areas on the chart where I can identify where we're probably going to

[06:22] get reversals in the market which are going to allow me to be able to use that risk reward in winning percentage map put myself in a high probability situation to get the reward that I want okay so what I'm doing here is using

[06:34] Fibonacci analysis to be able to figure out where the tops of markets is going to be we can see 161 8 is the exact top there this is a process called a35a I can watch afterwards I'm not going to go into the detail I'm just going to kind

[06:47] you that it does work okay so then I'm basically taking a Fibonacci retracement off of this level here into this level and then we're going to be taking a short position off of here so I can basically set up my position so that now

[07:02] can be able to make and where I need to position myself to be able to take the situation we're going to be making a 3.56 risk reward ratio which means that if we risk 100 on this we're making 356 dollars on the trade so the next thing

[07:18] that we're going to do is figure out how to position size into this how much we need to look at so this is where we're going to use a trade position description for you guys and I'll show you how to use it right here if our

[07:32] entry level is going to be at 1920 our Target is going to be at 18.74. stop loss is going to be at 19.33. hit enter that's going to automatically configure the amount of units that we need to use on this trade

[07:46] so we can see if we're able to enter with 1.92 ethereum we can risk 25 on the trade to make 88 dollars in potential profit using 3692 dollars now you might be saying 30 692 dollars is a lot of money to be

[08:02] using in a position I don't have that type of money that's exactly why crypto trading is beautiful because we have leveraged exchanges which allows us to keep the same dollar amount risk but use way more money with the position so that

[08:15] we don't need to use that much of our own Capital to take these trades and be so I'm going to show you exactly how that works okay so we use femx by the changed some of their restriction stuff femx's user experience is very similar

[08:29] to buy bit and it has all the leverage capability coin selection that we need I'm going to show you exactly how this works now all we have to do is go over and pull up our trade calculator here and input all of our orders okay so we

[08:43] can put our limit price at 1920 here we're gonna go with 1.92 okay and that's going to show us that 3 688 dollars required for the position next thing that we're going to do is put our take profit level here which is our Target

[08:57] price like that we're gonna place our stop loss here 1933 okay so now we have our entire order input and you can see this is still costing us 3688 for the entire position size but if we look we can change the amount of

[09:11] Leverage that we can use on the trade so if I increase this to 50x leverage we're essentially dividing the capital requirement on the position by 50. we can see now this position went from costing us thirty six hundred dollars to

[09:24] costing us seventy eight dollars we're still only risking 25 on this trade okay using this calculator right here and calculating something called liquidation price so I'm going to go to sell I'm going to put in the size of eth that we

[09:38] going to click calculate this is going to show me the liquidation price on the chart for the amount of Leverage that I'm using which is 19.48 so I can go back over into my chart find 1948 okay so this is going to be my liquidation

[09:53] level you can see my stop loss where we're going to close the trade if we're wrong is going to get triggered before our liquid station level which means our position is safe if we were to increase this to a hundred X leverage and we were

[10:05] to do that same exact calculation with 100x leverage it's going to give us 1929. so if we look at our our liquidation level 1929 is inside the stop loss threshold which means that this is too much leverage to use so we

[10:18] could probably use 75 okay so if I wanted to increase this to 75 this is only going to cost me 57 to take this position in my potential profit is still 88 and my risk is still 25 okay so that's how you're going to position size

[10:33] all right and that's how you can let your Edge shine through the next step this is testing your system and inputting the criteria onto a back your own information and you look at what's working what's not and how you're

[10:48] sheet up this is going to show you the date the ticker whether it's short or trade so if I were to make a hundred dollars in profit this is going to register stir it as a winner if it's negative it's going to be registered as

[11:02] a loser and you can see this is going to give you your total account stats over to show you all of your longing statistics including your average win average loss average trade p l the totals that you're taking in each the

[11:16] information that input is registering as shorts and showing us all of our data on that I'll put this in the description so if you want to use this yourselves you that as you add more trades just make sure you're copying this cell if it's a

[11:29] short and then putting it into here so that it works on the other sheet over your charts and you'll be able to test your own information okay something that's really helpful is once you have a pattern that you're trying to trade once

[11:42] okay you can go back in time and you can use this feature on trading view called bar replay and you can click at a random area where now you don't remember what happened over here and you can play this forward and you can try trading your

[11:55] happen in real time so you can see whether what you're doing is work we would go take a screenshot of this copy this over and then click over here and can see what your results would be over say taking 30 to 40 theoretical trades

[12:10] time you're not wasting your own money okay and you're going to be able to know exactly where you stand very quickly the beauty of using back testing is after you can aggregate all of the winning charts and all of the losing charts

[12:24] separately onto different pages take a look at all your wins take a look at all your losses and see all the similarities amongst the winners and all the tweak the way you're approaching these trades not do certain things to increase

[12:38] your winning percentage so if you're able to get from 50 to a 65 win rate you can make a significant amount of money so in this instance it's about a 97 000 gain in a hundred trades so doing this entire process is going to save you time

[12:51] money and allow you to get where you need to go without getting confused and falling into traps alright this is exactly what our private trading team these systems and they're being able to deploy all these tactics we can see

[13:04] Jared the course teaches you how to hit profits like this 3.14 in a few hours 100 recommend okay so he's already understanding the risk reward factors and depending on how much money he was risking on this trade he was able to

[13:16] make 3x when he was risking and like I was mentioning earlier in the video the we can see one of our private members really changing the world I really feel people's mindsets and how they see trading and then we had another person

[13:29] comment which was really cool to be fair I got the course and since then there's not been a day where I'm losing money on a 24 hour basis but anyways guys I just together a clean cut process to cut out all the BS on the internet prevent you

[13:43] wasting your own time and money and give you some resources to get started the you found value make sure you hit the like button subscribe to the channel if investing don't forget to check out our Tick Tock okay we just launched our Tick

[13:57] check it out if you want to help us so and that's basically all I have for today guys shout out I'm fancy Joe for these neon and never trade signs absolutely love it until next time guys I will see you all in the next video

[14:10] I will see you all in the next video [Music]