I Spent $54,938 on a Millionaire Trading Coach So You Don't Have To

I've had a training coach for the last three years and it's been the most Roi positive thing that I've done in my training in my life and so in this video I want to walk you through the nine most impactful lessons that I've learned from him over the years now a bit of backstory on Evan he has 25 plus years managing and trading money and he has ran trading floors with over a hundred plus Traders and now he coaches some of the top hedge funds in the world and professional athletes and still runs a small fund of his own and somehow I have been lucky enough to land him as a mentor so let me pass on to you what he has taught me over the years on what it takes to be a consistently profitable Trader the prep you do before you even sit down and trade is one of the most important things you can do in trading but what are you doing before you go to bed to make sure you're ready for the next training day I always used to think that your morning routine and pre-training routine was the most important prep that you could do but what was really a game changer for me was when Evan brought up the importance of a nighttime routine morning routines help you get the day started but if you don't even sleep well the night before then it won't matter what you do the next day you will still be tired and exhausted the night time for me that we've created starts at 8pm every day I leave my phone in my office then I take a hot shower to relax my body and start the production of melatonin which is a sleep hormone then I stretch to loosen my body up before getting in bed then I read before falling asleep once I started doing this my sleep got extremely consistent and I naturally Wake Up Now around 6 a.m well rested every day when I first started with Evan I was trading as long as I could every day because I wanted to catch every trade that the day had to offer if I wasn't watching the market then I was theoretically missing out on money Evan explained that after around 11 A.M U.S market time most day Traders actually lose money in the long run this of course depends on when you trade and how you trade but the biggest factor in this statistic was that after 11AM is generally when most day Traders have been trading since the market open which is around 9 30. he explained that the biggest reason behind this is because it's almost impossible to be at the level of focus Brady requires for more than a couple of hours at a time so after about one and a half to two hours you start to lose that mental focus that it takes to make good trading decisions and you start making worse training decisions so even though trading longer you get more opportunities to trade you are less likely to make the right decision and more likely to make a mistake losing you money so spend less time trading you do not need to sit in front of the computer all day long it will make you more profitable every time an athlete shows up to a competition or a game they are doing everything they can to make sure they are as ready as possible and on top of their game the biggest mental shift Evan said that was important for Traders to become consistently profitable was the tree trading like an athlete show up every day at your Peak Performance this is where your whole life and day-to-day activities come into play like staying physically fit so you're mentally fit setting up routines before you trade so you're ready to go or creating that nighttime routine so you're well rested and focused the next day just because it's you trading does not mean there are other athletes on the other side of the computer looking to take your money now over the three years I've been with Evan we are constantly in a process of simplifying and narrowing down my focus as much as possible I was always stuck in the idea that to make more money in trading I needed to make more trades and over time I've realized it's the complete opposite I used to trade multiple strategies and now I only focus on looking for reversal trades in the market I used to trade many hours in the day and now I only trade one to one and a half hours a day and with my trading I'm always trying to take less trades less often without idea that I'm only getting in the best trades possible that are more likely to make you consistently profitable Evan constantly forces the idea that less is more this idea alone started to turn me into consistently profitable Trader now the trades you take are all that matter when it comes to trading the ones you miss out or skip don't affect your account balance in the end only the ones you end up getting into to get better at this Evan says it's important to work on something he likes to call being aggressively patient intentionally going into every training day waiting for the market to fit your strategy is the key I spent so much time in the beginning focusing on trying to fit what the market was doing but the most profitable Traders are the ones that are patiently waiting for the market to come to them and fit their strategy they trade when they are ready to trade they don't chase trades they're worried they might miss out on even if it means you don't trade for a few days that's how you can consider instantly make money when you execute trades Evan says he's only taken six trades this whole year and it's been his best year yet that is how patient you can end up being I used to be scared to jump into trades and my habit was to skip the trade out of fear there's a saying that Under Pressure you don't rise to the occasion you actually sink to your level of training training is the exact same way we all have habits that can affect our trading negatively and slowly over time with training you can actually change those habits but this takes time to build and change that muscle memory of that habit that you have over time in coaching I was able to accept that the nervousness to trade is okay thus I changed my habit and eventually even when that pressure comes up again a fear of jumping into trade I Fall to my training and the training tells me to execute the trade no matter how I feel every trade that we take is mathematically separate from the statistically you can go on massive lost streaks and still be in the normal statistics of trading the only problem is as humans we have emotions and we can't easily separate trades I don't know about you but when I take a loss it frustrates me and affects me emotionally I'd like to say it doesn't affect the rest of my focus of trading that day but it does so even though each trade outcome isn't connected our motions connect each trade Evan constantly stresses the importance of being aware your feelings during training the biggest reason Traders lose money is they let their emotions take control of them so you want to be aware of where you are mentally when you're trading so you can step away when you aren't able to handle your emotions and stop them from negatively affecting your trading even Evan as someone who has been trading most of his life since those emotions will always be there even he has them every day the best Traders out there still deal with their emotions every day but they have learned to become extremely self-aware and know that when they need to step away from training the mindset Evan says every Trader should try and work towards is being comfortable with the uncertainty of trading but certain about your abilities and behavior to act accordingly you will always have fear doubt or nervousness when it comes to trading even now that I've been consistently profitable for a while I always have doubts that maybe I don't know what I'm doing you never know what the Market's going to do next so instead Emin says it's important to focus on your mental abilities when reacting to situations that come up in the market because over time it won't matter as much what the market is doing you will make the right decision no matter the level of uncertainty or outcome that's all trading is it's a test of your ability to make the correct decision with uncertain or not all the information over and over Evan likes to say trading is the hardest game in the world and that in a couple of hours hours of trading you make more decisions than most jobs do in a full eight hour day I always thought when the market is open you should be trading because you're missing out on potential money but it's actually been the opposite the less I trade the better my results you don't need to trade every day take a day off to recharge because compared to normal job making a mistake in trading loses you money it's not about just showing up and doing the work like a lot of nine to five jobs it's about showing up to make as good of decisions as you can consistently it doesn't matter if you can make profitable trades most of the time if you wipe out all your gains with one bad day a week or every month now probably the most important thing that Evan has actually taught me was how to change my habits from negatively affecting my trading to positively affecting my trading in this video I'll explain the process he took me through to change from being an unprofitable Trader to a profitable Trader

Channel: Riley Coleman

Views: 40,924

Keywords: live day trading futures, day trading strategies, futures trading, futures trading strategies, trading strategies, trade ideas live, day trading live, price action trading live, trading price action, Trade ideas live, live day trading, scalping, scalping strategy, learning to daytrade, trading psychology, trading psychology tips, how to master trading psychology, trading mental game, how to stop fomo trading, how to stop chasing trades, trading coach

Id: vjsZvG8uhvE

Length: 9min 10sec (550 seconds)

Published: Sat Sep 30 2023