I Talked With 100 Traders. Here's What I learned...

i've talked to dozens of traders from beginners to consistently profitable to six figure traders seven figure traders and even eight figure traders and i want to share with you seven ideas that really hit home for me that i've learned from each of them every trader talks about rules and how important they are and how you need to follow the rules but here's something that you don't probably know because maybe you don't talk to traders every day and that is they all break rules and you're probably like wait a minute like i've been trying to create rules to stay with them and now you're saying these traders break rules yes i'm saying that because i want you to know no one's perfect even to this day the traders who are seven figure traders they still break rules sometimes on purpose because some rules are more like guidelines so maybe there's a rule that says they only take full size on certain setups but then there's an a plus plus plus set up that they've never seen before in their trading career and they finally see it they're going to size up more than they've ever done in their life and that's because the odds are so stacked in their favor that they have the experience that they have realized i need to adjust my rules right now to take advantage of this play the other idea breaking rules though is they make mistakes they get revengeful they trade something that isn't even part of their playbook even though they know their best trades are in this lane they drift over to the other lane because there's traffic here and there's nowhere to go in other words there's no setups today and they accidentally go in the wrong lane and they take a mediocre setup and sometimes they lose and sometimes they win but here's the thing they realize that they're breaking rules okay so when they break a rule they acknowledge it they write it down they talk about it with another trader friend they focus on the idea that hey this worked this time i shouldn't do this again i need to correct my course because if i continue this i will fall off and become a losing trader so keep in mind if you break rules don't beat yourself up because i didn't say that right i didn't say they beat themselves up i said they acknowledge it and they adjust course so make sure to give yourself some credit breathe and adjust course i want to take this time to say thank you to our sponsor cobra trading cobra trading is the go-to broker for day traders and short sellers and i'm not the only one saying this in fact benzinga awarded cobra trading as the go-to broker for short selling they have a heavy focus on direct market access order routing so you have the fastest execution they have some of the best locate prices and availability they also have amazing customer service i've experienced many different brokers and it's why i use them every single day and why i'm proud to have them as our sponsor sign up now by clicking the be the trader referral link below and earn one free month of software with cobra and 25 off all commissions now let's get back to the show oh every single one of them has been burned before i've made three theaters i'm mexican i make these all the time but eventually i'm gonna burn one and that's what happens every single one of these traders eventually or at some point either blew up a small account blew up a big account or just completely just broke every rule really no big draw down and had to start completely over i'm just trying to emphasize if i haven't said it enough you're going to lose and you're going to get burned you just need to know even the greats have been there it happens move on we all have drawdowns every single one of them sometimes there's traders who've actually been on my show who've been consistent for five years 10 years and right now it's the hardest year for them isn't that something to think about you might be going through the drawdown right now and just know it happens to every single body so give yourself a break actually take a break and come back with the clear head every single trader has a morning routine whether it's get coffee meditate review their traits from yesterday write in their journal talk about what they're being grateful for every single one of them every single one of them and and i don't understand how you don't have a routine so you better get one every trader sticks to their edge and they believe it is the next best thing to slice bread so stick to your edge stop getting opinions follow your process and consistently do that and wait a minute hold on who did no way coco they all track their trades religiously they track it because then they can find out what happened what are their mistakes who did it what is their weakness what's their strengths what they need to focus on so they can find the results that they want every single trader from veteran 10 years 30 years to one year they all have self-doubt steel it creeps into their trades at some point in their career and it doesn't go away it comes back so if you're dealing with self-doubt no it's normal and you should probably surround yourself by like-minded traders so make sure to check out our discord room check it out below in the link you can join it's a lounge where you can meet other traders who think like you who are focused on process and want to improve over time

Channel: B The Trader

Views: 57,986

Keywords: day trading for beginners, day trading strategies, learn to day trade, beginner trading stocks, stock market for beginners, how to trade penny stocks for beginners, how to make money trading stocks online, day trading for dummies, day trading tips, day trading tips for beginners, learn to trade penny stocks, learn to trade stocks, learn how to day trade penny stocks, day traders, bthetrader, b the trader, bthestory, b the story, live traders, stock traders

Id: KgrORAI332U

Length: 6min 53sec (413 seconds)

Published: Wed Jul 20 2022