How I Became Consistently Profitable in Day Trading

i think one of my first couple of trades i lost like six grand i think it was like six or seven grand in like a couple of minutes welcome back to be the trader i want to share with you the reality of my journey and how hard it's been to actually find consistency in my trading i think it's only makes sense for me to go back to the beginning and that's how i discovered trading i at the time i had a really good career i worked my way up as a partner in a small firm and all i was focused on was how can i make more money right that's all i was focused on so i found real estate create a little real estate meetup group did really well with that and flipped a house when i say flip the house i wholesaled it just flipped the notes made some money and realized it wasn't for me and that's when i discovered trading because i saw all these ads of easy money quick fast anyone can do it learn this one pattern you know the typical ads so i went for it and i ended up deciding to leave my job now the main reason why i left the job to begin with is because i started to become unhappy like i was trying to make the company grow i was trying to pitch new ideas but i kept getting denied from the ceo and then i started to get even more unhappy because i wasn't going to grow anymore and then i realized like growth is really important to me but i was so focused on how can i increase my income and that's why i wanted to grow and so i went up to trading and when i did that i was only focused on one thing and that's how can i make more and so at first i was trading a little bit while i was working and that was not working at all i was just taking so many losses and i didn't have any risk management i didn't care about really losing money because i thought uh once i get this is gonna be easy in fact i was just i think one of my first couple of trades i lost like six grand i think it was like six or seven grand in like a couple of minutes and that's a lot for anyone and but at the time i was just like oh yeah i was upset but i was like okay you know just go back to work out and just make some more and i had the wrong mentality going in and so i thought you know what when i was trying to trade and work it wasn't working so i said you know what what if i just dove all the way in and only trade it of course i can make it like i work really hard that's how i worked my way up to the top and became one of the youngest partners in the firm that's how i did everything like i worked my butt off so i said if i did it in trading then i can be successful at least that's what i thought and then i left and it was a huge rush i was so excited like i was leaving to pursue what i wanted to do it's my dream i thought this is going to be a great story like it's going to be cool and it was not you know that that year was really hard i went from making money to not making any and in fact i lost a lot a lot of it i saved up a year's worth of income to live off of comfortably but making no money and losing money in fact was really hard on my ego and it really shook how i viewed myself because at the time you know i was all about as i mentioned i was like trying to make more money i was focused on the wrong things i had a mercedes i wanted like a better car and so forth but when i left i had to get rid of that car and get a pt cruiser um and that was very humbling and then i had to downsize a lot of things i did i couldn't travel as much i couldn't spend as much i was always thinking about money and and being careful with it and then it's all it used to be that way for me don't get me wrong like you know i don't come from a big family when i saw my dad work really hard from a low income to bring us to medium i think like low medium to low high to medium low and medium medium and maybe even yeah i would say medium mediums because there's different lows of income right and different medium of income hopefully that makes sense but i saw him do that by working his butt off and so i had this instilled in me that like i need to work my butt off so i can take this in the family higher and this was instilled in me just on my own just by seeing things happen by working hard and taking us to other places from like you know small houses to smaller like a small it's a little bit bigger and so forth better neighborhoods and so forth and so i just thought the same thing and so whenever i had to get rid of the mercedes and wasn't making any money there were times where i was questioning everything i decided i was like why did i leave a great job i made great income to pursue something that i'm not even good at and i would question all my decisions like you're an idiot like why'd you do this this makes no sense you could have been doing well off and so forth and but i always had deep down like this is what i want to do and i'm doing this because i want to be happy with what i'm doing and that's one of the main reasons why i left like when i left is because i wasn't happy it wasn't just i was making good money but i left because i wasn't happy and so when i left i was happy i was pursuing something i loved but somewhere along the way i started judging myself again about the money but not making enough i was judging myself my value on what i made and let me tell you that now i pray so much to help me get away from that mindset it's why i focus on process not profits because it's so easy to be focused on egotistic things and i was like that for the longest time and i may still be like that in some sense but i really try to focus away from that because that first year was tough like i was only judging myself at that time about the value of me from what i made and so i went through some dark moments where there was days where i just would just cry by myself and pray and be like man why did i do this i would yell like whoever you believe in but i believe in god and i would be upset and be like why is this happening like i should be able to get this and i was not getting it the only good thing i did that year was record all my trades i was writing everything down and that's it but everything was to me at the time what's the point like i was losing then it came to a point where i was like you know what money's getting low i need to go back to work luckily a partner firm like i say a partner firm what i mean is another company competitor is the right word much bigger competitor about five times the size wanted to hire me so i went on board as a vp and luckily i was able to make the same income and was able to save another year's worth and then i left now this second time i left i thought to myself i gotta get it this time because i mean i'm leaving again so this has got to work but it doesn't have to and in fact it didn't that second time i just pretty much broke even i lost money but i didn't lose much so i say break even because at the end of the day i went from losing a lot to losing a little bit i had break-even months i had green months i had red months but in the day like i still documented everything and there was less times where i was saying i wanted to leave and go back to work there was more times where i was scared i had to go back there were more times where i was scared that that this is going to take a lot longer than i thought and during that time i was still focused on trying to make profits like i was trying to focus on like a setups but i was so focused on making money and my wife would suggest me so many times she'd be like hey why don't you just trade small so you can focus on trading well and i'm here i'm like yeah i could do that but i never did it because um there was still ego right there was still a reason why i was doing this and it wasn't until i had to go back to work and that part was like i was like wow like i've at least figured out what works for me because that year breaking even it was a lot of trades i did well on and so i was able to see the commonality between all of those and figure out gap and craps it was for me being a stock that gaps up a lot maybe 50 or more and then i can write it back down shorten it of course but i didn't really discover that until i was forced to have to go back i was like what am i gonna do if i go back to work i gotta do something that works like i gotta make money on the side and then i went back to work and i said you know what i'm just gonna work i went back to that same company that hired me the competitor they hired me back again and they even i even negotiated with them to let me work from home and so it was a great career great incomes and be able to work from home but it took up a lot of time because it was a full-time gig and i had to manage people i had to manage territories it was busy and so i couldn't really focus on trading because it was really stressful environment and that's when i was like you know what it's not about the money like it started to hit me because i was making great money again i could work from home making great money and technically you should be able to play some trades but i was miserable because i couldn't focus on my trading and then i was like well i at least know what i need to focus on because i started trading only my setup right when i knew that i had to get that job again for the third time i started only trading the gap and crap and at that time i started to find consistency and then i was working for them for about three months and still being consistent and i said you know what this is what i need to do i need to only trade this setup i need to only trade small because i treat it really small because i was like you know what when i focus on process i can do this i don't want to lose anymore in fact i didn't want to lose any more money i was tired of losing i wanted to just learn how to grow and i finally said you know what i just want to become a good trader so i can do this for the rest of my life and so i want to learn this skill and not learn it to make a ton of money anymore i wanted to learn to become a great trader and so when i left i told myself i said before i leave i'm going to find a job that i can work part-time still from home but not make as much because it doesn't take a lot of time and at least covers my bills and i was able to save up i had about six months of income at that time to live off of if i didn't have that part-time gig luckily i was able to find a part-time job i'm so thankful for that company to hire me work from home it was really easy for me and didn't take up a lot of time so i was able to trade and i was still consistent and then from november 2019 and all of 2020 i had that whole year of consistency and i looked at that i was like wow this is interesting and it's a lot of reasons that help me do that it's because i wasn't no longer focused on money i downsized dramatically i slowly increased the size once i started see consensus consistency i start to increase the size but as i increase it i start to also realize that there's other challenges along the way like learning how to be comfortable with bigger size but then that whole year i look back and i was like i only traded this setup there was times where i only placed like seven trays in the entire month because there just wasn't there and i was like if i'm if i'm gonna be able to continue to do this i want to learn how to trade more setups and so near the last quarter maybe a little bit before the last quarter of 2020 i started to experiment started to try new setups because i've been training now at this time for about three and a half three and a half years i think four and so i was able to see so much market time that i start to recognize things that happen over and over again but i never took advantage of it and so i wanted to and in fact i started to the thing that i did wrong though is i started taking advantage of it with the same size of this setup that i did well on so that really wrecked my confidence and i learned a lot from that i made videos about that and how it's important to trade and you set up very small not the same as your confidence set up but i once you guys know and gals everyone that this journey has been very hard and i think it was in november is when i started this show be the trader and i started to share my experience of how i was starting to see consistency like at the beginning of the show i started to see my consistency i started to share the challenges because i would have months where it was just small and months where i'd lose a little bit or weeks where i'd lose a lot or weeks where i went a lot and and then i started to realize that what really helped me is not looking at profits blocking all these people who only flex and focusing on process and execution and that's a challenge i deal with all the time even now in fact as i'm sizing up currently every time i size up i deal with that challenge because it's a new size it's a new risk it's a new dollar amount and so forth so i still hide my p l today i still try to only focus on process and preach that because i want you guys to know that it is very difficult to trade because it is very unique to the trader everyone has their unique challenges and through this time you know i'm just so thankful to god that i've been able to find what works for me learn how to be consistent and now i'm continually to work on growing that and i was because i had side income coming in that really helped me it really did to get away from the stress of having to make money and luckily the house things have it you know be the trader became a pop you know i wouldn't say popular i'd say it's starting to grow and youtube started to become an income source then i had sponsors and then you have my small company that helps other creations and and so forth and now my trading my swing trading everything starts to grow and i'm so thankful because you know without god i wouldn't be able to do all this any of this and i pray so much that has really helped me a lot like prayer has helped me a ton through this journey and meditation so i hope if you're going gonna go to this journey just know maybe it won't take you long maybe you'll knock it out in six months maybe three maybe three years maybe ten i know traders it took them about ten years to find consistency and now you never know you'd be like oh my god this guy's a rock star this girl's a rock star they are a rock star it's something that's important that you need to know it doesn't matter how long it takes you just focus on the process it's a skill that once you get it you can learn how to grow it and you can really grow and forget about how long it took you to get there just focus on you and do me a solid if you like this type of content please hit that like button because it really helps me with the youtube algorithm helps us grow the show because we want to do more content and we want to continue to produce content to help change the training community for the better so everyone have a great day and god bless

Channel: B The Story

Views: 46,905

Rating: 4.9302974 out of 5

Keywords: day trading for beginners, day trading strategies, how to trade penny stocks, how to trade penny stocks for beginners, learn to trade penny stocks, learn how to day trade penny stocks, Day Trading, Bthetrader, b the trader, b the story, bthestory, Live Day Trading, Consistent day trading, day trading, warrior trading, day trading live, day trading addict, momentum trading, td ameritrade, zip trader

Id: KA5UJPf1c2k

Length: 16min 50sec (1010 seconds)

Published: Mon Aug 23 2021