Trading Is Hard… What Should I do?

What’s up, guys and girls. In this video, I will be discussing why trading is hard and what you can do about it.

So right now i’m actually on a mini vacation so by the time you see this most likely i’m going to be back foreign guys let me show you or tell you why trading is so hard you’re probably looking at this video right now because you saying to yourself man you know trading is hard for me right now well welcome to the club of course it’s going to be hard in the

Beginning but i’m here to tell you that the reason why it’s hard in the beginning especially trading is because trading can actually give you big rewards anything that can give you big rewards is going to be very hard in the beginning i guarantee you if you can name any job name it any job that is very easy i could guarantee you that job doesn’t pay a lot all right

You have to understand anything that pays a lot is going to be hard in the beginning and you should embrace that and love it because you know if you can walk around and tell people hey man i’m a profitable trader they’re going to look up to you right just like if you go around let’s say you’re a doctor right you tell someone i’m a doctor you know they’re going

To look up to you because they know you went to school for like eight years plus you are able to do things a lot of people can’t do so you should love that trading is hard right and you have to understand yes it’s hard right now but the more you do it later on it will become much easier so you have to experience pain in the beginning just like let’s say you want

To build some muscles you can’t build muscles by lifting up a 10 pound dumbbell no you’re gonna have to lift more than 10 pounds that means you are going to experience a lot of pain it’s going to be very hard in the beginning and that’s because you are looking for big gains if you’re not looking for big games then yeah you know you can lift up 10 pounds like it’s

Nothing but if you want real big gains you’re gonna have to lift a lot of weight same thing with trading right trading allows you to make a lot of money so trading or anything else that can give you a lot of rewards expect it to be hard in the beginning now let’s talk about the different things that’s probably making your trading harder right now okay number one

Your beliefs right your beliefs probably making your trading really hard right now because you probably don’t believe that you can do this or you don’t believe in your strategy and it’s going to be very hard for you to get to the next level if you don’t believe that you could be a full-time trader i remember i had a hard time believing i can actually make trading

Work at one time i was like no way someone’s actually making money from trading because i was losing on every single trade i mean like every single trade i put on i was losing so in back in my mind i’m like there’s no way in the world someone is actually making a living from this and then luckily i was able to speak to a full-time trader on zoom right and she was

See also  Apple vs Google! - Stock Market Battle!

Showing me exactly what she was doing and that alone helped my belief system so that’s why sometimes i try to post live trades for you guys to give you motivation and also to let you know that it is possible to make profits from these markets another thing that can help your belief system is just hang around successful traders right if you hang around successful

Traders and you see them you know making profits almost every week or every month right that’s going to help your belief system you’re going to see like oh yeah i could definitely do this you know i just got to put in the work another thing that can help your belief system is just basically studying the market i was studying the market seven days a week so i i

Was looking at you know different patterns and and seeing that okay my strategy works so when i saw that my strategy is working that gave me enough confidence to understand all right i believe in this strategy i believe that i can actually do this now i have to just follow my rules and put in the work so make sure you do that because if you don’t your trading is

Going to be much harder the second thing that’s probably making your trading hard right now is doubt and we all go through this right especially new traders let’s say that you are on a winning streak right now let’s say you’re on a two-week winning streak and then this week maybe the market was slow whatever the case is and you had a losing week guess what a lot

Of dollars going to come in your mind and you’re going to say man you know was this luck does my strategy still work you’re going to start doubting yourself and doubting if you can actually do this and i’m here to tell you don’t do that keep at it keep studying the market make sure you look at your trades to see if you made any mistakes if you did make mistakes

Right make sure you correct those mistakes because because if you have doubts your trading is going to be much harder because you’re going to always second-guess yourself oh is this a good trade uh i don’t know maybe maybe it is but you know what i’m gonna skip this trade and then next thing you know that trade is a winner so doubt could definitely hurt you um

In the long run so make sure you correct that the third thing that’s probably making your trading very hard is your time frame okay so you probably are trading a smaller time frame that might be stressing you out so for example i used to trade a one minute chart and the reason why i did that when i was new is because i was able to you know put a tight stop loss in

And i could look for decent arista reward but i realized you know there was a lot of fake outs a lot of times i’m losing two three four times in a row just to get the big winner so i was stressing myself out sometimes i will over trade because you know the one minute chart will give you a lot of signals so i was stressing myself out and then you know finally i got

See also  Lease Accounting Basic Example To Determine Lease Type (Capital Vs Operating Lease)

Good enough to you know make money on a one minute chart but it was still kind of stressful so i switched to the five minute chart and as soon as i switched to the five minute chart man i mean i was more relaxed you know the market was much clearer and i wasn’t really you know stressing myself out so you might have to change your time frame because it could be hurt

You now the five minute is usually a good time frame to use if you first starting off it’s not too fast and it’s not too slow so make sure you look at that because that could actually hurt your trading and it could make your trading much harder right and the fourth thing that’s probably making your trading harder right now is being impatient a lot of you guys want

To rush the process and i’m here to tell you that that can actually hurt your trading because for the most part if you are in a rush you’re not really thinking about how can i trade the right way right a lot of you guys probably want to quit your job i understand but make sure you do it the right way don’t try to rush right motion guys are literally thinking about

The money and it could be to a point where you are a profitable trader you’re making consistent game but one day you decide to risk more on one particular trade and next you know you wiped out all the profits let’s say you had profits for two months three months you wiped out all those profits on one trade just because you trying to speed up the process and that

Can actually make your trading much harder if you’re nervous on every single trade because you’re sizing up too big guys that’s going to make your trading much harder so stop doing that because a lot of you guys probably just want to be a millionaire real quick trying to make a lot of money trying to ball out relax you have to understand becoming a millionaire it

Takes time you guys can actually live a good life or extra 10 or 20 000 a month if you can look me in my eye and tell me that you can’t live good with an extra twenty thousand dollars a month then you have a spending problem because i’m telling you right now you can live really good with an extra 20 000 a month so i don’t understand why some of you guys are trying

To rush the process i’m not telling you to not have big dreams but you don’t have to rush to process take it slow day by day month by month stop being impatient and another thing you look at your p l too much your profit and loss and your account size and you’re trying to look at it and say all right i’m not making money or i’m not making enough money right and

See also  How to Write the Best Hardship Letter - The 5 Valid Hardship Reasons

You judge yourself by that and i’m here to tell you stop it that’s the wrong thing to do the best thing to do is judge your whole journey right look at your whole journey i guarantee you you are a better trader the first time you actually started to trade i guarantee you you was horrible you didn’t know where to put your stop loss you didn’t know how to draw your

Supply and demand you didn’t even know how to draw support and resistance but look at you now two months from now you know where to put your stop loss you know how to draw supply in a man you know how to look for support and resistance you are a much better trader that’s how you judge yourself from when you started until now i guarantee you you can look to see that

You are growing you are growing as a trader it doesn’t matter if you’re trading account is not growing right now eventually it will if you keep going at that pace so a lot of you guys are not giving yourself credit a lot of you guys are doing good you’re growing you’re just trying to rush you’re impatient so i want you guys to shift your mindset and just relax you

Will get there but don’t let these things get in the way because if you let these things get in the way like being impatient having doubt you know having a messed up belief system and using you know different time frames that’s messing up if you have those things in a way guess what trading is definitely going to be much harder so again yes it might be hard in the

Beginning but if you put it in the work it’s going to be worth it like for example today i’m at the hotel on vacation and i traded the market and we look at my p l i’m up 5478 dollars and i’m not home right i’m on vacation so this is the next day on vacation and if you look at the p l a month 14k so this is what i’m talking about right if you put in the work it

Could be worth it so stop complaining about trading is hard of course it’s going to be hard because it can give you decent rewards so all i can say is just keep going all right so that’s all i have for you guys today i have to go back you know enjoy my vacation go out swim a little bit right go in the pool but i just want to share this with you guys today so if you

Enjoyed this video make sure you hit that like button hit that subscribe button and if you want to learn how to take your training to the next level just check the description below you will see my trading program that can actually help you out if you have any questions comment below because i try to answer all your guys questions thanks a lot for your time and please have a great day

Transcribed from video
Trading Is Hard… What Should I do? By Day Trading Addict