Learning Trading Takes Time

[00:00] There's a hard reality in day trading and it's  kind of a hard fact to swallow. Like any skill   in life, it takes time and effort consistently.  And the time is the most important thing. Like any  

[00:17] skill like bike riding, skateboarding, skiing,  you need to do it over and over and over again   and practice in order to become proficient  at the skill. Now, I'm choosing my language  

[00:30] very specifically here. Sometimes what you see on  the internet is designed to get you excited, not   designed to educate you. Most people have shiny  object syndrome. They see something incredible and  

[00:45] they want it now. They are not willing to accept  delayed gratification. But I want you to tell me   if this sounds ridiculous. An 18-year-old person  sees a doctor slash surgeon driving a really,  

[01:01] really nice Porsche GT3 RS and he says to himself,  "I want to be a doctor. I think I can do it by   next week." Does that sound logical to you?  I'm glad we're on the same page. If you want to  

[01:16] learn how to day trade properly, you will have to  commit thousands of hours every single month. And   you will have to practice this skill every single  day. It is absolutely foolish for you to put money  

[01:29] into the market and expect a return at all, even  a dollar. You are competing with the most elite   of elite day traders in the entire world. If you  win, that means they lost. They are not willing to  

[01:44] let that happen. So, in order for you to gain the  confidence to enter the market with actual money,   you need to do it with imaginary money for an  extended period of time. This is like training  

[01:58] in a boxing gym. You will train on a punching  bag for an extended period of time to make   sure that you have the technique right. Then  you will spar in pads with an opponent for an  

[02:11] extended period of time before you actually  get into a real fight, obviously sanctioned   and professional. The same goes with your day  trading. You want to open up a demo account,   which you can get anywhere for free, and you  will practice buying and selling. Practice,  

[02:28] practice, practice, practice, and more practice.  and you will see how many times you've lost and   how many times you've won with this imaginary  money. And after let's say 6 months of practice,  

[02:42] you can look back at all of your fake trades that  you entered and you can see, okay, at first I   sucked and then I started getting better. And for  the last 3 months, I've been quite consistent,  

[02:55] winning half of my trades and losing half of my  trades. And depending on the percentage of account   balance that you've risked of your imaginary money  demo account, you will see if you are profitable  

[03:09] or if you are not profitable and you still need to  practice more. I know it's a hard thing to hear,   but you will not get rich this week, you will not  get rich this month, and you probably will not get  

[03:21] rich this year. I'm an absolute freak of nature.  And when I started learning about this stuff,   I spent 11 to 13 hours a day learning it for  a very long time because I was interested in  

[03:36] it. And when something piques my interest,  I dive head first into it full force. And   one of the main things that I would like to  suggest to you is don't overeducate yourself.  

[03:49] Reason being is that if you learn every single  path, sometimes you will get contradicting   thought processes on that trade that you want to  enter. One says it's long, one says it's short,  

[04:03] depending on which strategy you're looking  at. I highly suggest keeping it simple,   something that you can do every single day without  putting too much thought or emotion into it. One   of my favorite strategies that I've been working  on lately, you can see in this video right here.  

[04:20] I just want you to be patient and be understanding  that this is going to take a lot of time.