How To Make $10,000 Per Month As A Day Trader

absolutely every aspiring day trader wants to learn how to make at least $10,000 profit from the market per month however the only issue with this is there's a lot of BS out there about getting rich quick if you follow a certain strategy and there's a lot of misinformation from other Traders so in today's video I want to break down three main components that you must focus on in order to attain that $10,000 per month as a day trader now in the description below I'm going to post a link for one of my more recent trading videos and after this video is over once you understand these components I recommend going to watch that video so you can learn how to grow a small account the first component is the component of Detachment as a Trader we must be detached to the outcome and we must be detached to the money if we focus on the money all we think about is making profits from the market not losing it then we're focusing on the wrong things if we're focusing on on the outcome and we're focusing on the goal that we have in mind of that $10,000 profit per month then we simply are shifting our Focus to the wrong thing which is taking our aim away from the correct things however if you focus on the process and you focus on the possibilities that puts you in the position where the market will naturally have the odds in your favor for that end goal of making profits detach from the money detach from your goal detach from the outcome and start becoming attached to what is in our control such as our risk management such as following our trading plan and most importantly leaving our emotions out of the market think about this when we're driving and we have a destination in mind we aren't looking at that destination of where we got to go we're simply looking at the road right in front of us and in the market our driver's seat is what we have control of if we focus and put our attention to that consistently every single day we will get to that destination of what we want to achieve so Detachment is the first step that every single Trader must focus on now the next thing you have to focus on is sizing down the amount of ego traders that I see that think they're going to get rich quick or make a lot of money in a very short amount of time is insane to me I don't care if you have $100,000 in your account I don't care if you have $10 in your account I don't care if you have $1,000 in your account no matter what if you a Trader looking to develop your Edge and build a system you must size down to build that consistency you have to build the foundation before the house can be built you have to develop your Edge before the consistency can be built now your Edge is simply the advantage over the competition and the competition is people or other traders who are also buying and selling in that market you are trading with the only way you can develop your Edge is simply figuring out what works for you the best the only way that you're going to be able to figure out what works for you the best is by putting trades on Via trial and error by losing trades knowing what not to do by winning trades and knowing what you do the best with is how you develop your Edge and this gets developed truly with screen time and experience I can provide you with all the tools I can provide you with the strategy that I use that I have success with but at the end result every Trader is unique like a fingerprint The Edge that every Trader has will be unique dependent on that Trader I see so many Traders on a daily basis overleveraging into a position for example let's say a Trader over leverages into a position with way too much size they are looking to take the market long the S&P 500 off of this demand Zone and they buy five e- mini future contracts at 4302 their target is the high of day and their stop loss is below this green little box down here then about 20 minutes later later since we overleveraged into this position we used our full account we see now we're down about $1,200 on this trade we say oh I don't want to lose this money and they start freaking out and they get out of this position for $1,000 loss even though the analysis was still not Incorrect and they had every reason to be in this trade even though they are down on it their thesis was not proven wrong but they had to get out because they were fearful to take a loss and lose a large amount of their account and then directly where these Traders stopped out for a loss below this low a few minutes later the market rallied and their $1,000 loss could have turned into A5 $110,000 profit if they did not freak out when you were trading with too much position size you let your emotions do the trading and they take control over your thoughts when you size down and you decrease your position size you're going to trade more efficiently cuz your emotions are going to be out of it as best as you can and you're going to be able to process proper information the Market's presenting to you in a factual sense not by you having your opinion of where you think the market could go so I recommend trading with small size regardless of your account size if you trade options one to three option contracts if you trade Futures one to three micro future contracts and if you trade penny stocks or stocks themselves I recommend trading with $1,000 or $1,500 regardless of your account size now the next component is scalability I cannot stress how trading is probably the most scalable business there is in the world I don't know any other business that's scalable like trading to make more money we don't have to hire new employees we don't got to go buy a new business store we don't need any other computers we don't need more programs we don't need more systems we don't do more to make more let me ask you something if you own the business and in this case let's just say a pizza shop and your first location of your pizza shop was struggling you're not making money in fact you're losing money would you go open up a second location any right business owner would not go open up a second location if his first one is failing to make profits and the first one is failing to prove a successful concept so what makes you think without a trading strategy or without an edge which is your successful business if you don't have a successful trading business what makes you think you could size up or make consistent money without a valid strategy or without a strong Edge once you can prove the concept of your trading business to be successful all you have to do is scale it up or open up a different location let's just call it to make more profits if you're making a consistent $100 profit per day 50 bucks per day you don't have to do anything different to make more profits and go for that $10,000 a month work smarter not harder as soon as you notice your emotions doing the trading for you once you scale up that's when you know to go back down to a size you are comfortable with until you become consistent with that $10,000 per month is simply $500 per day and that is very very attainable with three contracts small baby steps until you can prove to yourself that you can walk once you learn how to walk then learning how to run will be so easy and you're going to be able to run away with a lot of profits if you focus on this process and focusing on the process over the money and over outcome will be your key to success detach size down and then scale it up once you're consistent review all your trades Journal them and collect data here's an invested trade member who trades only spy option contracts who grew an account from 5,000 to over 10,000 focusing on consistency he has a small account he's consistent and now his next objective is simply to scale it up because he has proven the consistency of growing a small account into over $10,000 this month following the process and in the back of his mind he's not even thinking about making money the money is the byproduct of you following the process and detaching from the outcome so listen to all this advice I don't say it for no reason again check out the links in the description below for the other video also I recommend following me on my Instagram and checking out the invest the trade website but besides that I'm ending it peace [Music]

Channel: Carmine Rosato

Views: 15,034

Keywords: carmine rosato, supply and demand, ricky gutierrez, learn plan profit, ross cameron, warrior trading, tim sykes, day trading, stocks, stock market, day trading recap, trading recap, thinkorswim, tdameritrade, profitable day trading, day trading profits, how to make money as a day trader, beginner trader setup

Id: QP0_5UY6ng4

Length: 8min 38sec (518 seconds)

Published: Sun Nov 26 2023