How to Trade **WITHOUT** A Course.
Summary
TLDRThis educational YouTube video offers a seven-step tutorial on becoming a profitable trader without costly courses or mentors. It emphasizes that all trading strategies can work and encourages viewers to learn from diverse sources, understand time frames, and select the right tools. The key steps include backtesting 750 trades and live testing with a demo account to understand personal trading habits. The presenter, a profitable trader for two years, shares his method, promising financial freedom to those who diligently follow the steps.
Takeaways
- đ Every trading strategy has the potential to work, and no single method is inherently superior to others.
- đ The internet, specifically YouTube and Google, is a rich source of free educational material on trading.
- đ It's important to watch a variety of trading videos and learn from different sources to find a strategy that resonates with you.
- đ° Understanding that all time frames in trading are essentially the same, with the main difference being the frequency of events.
- đ Learning the tools and indicators relevant to your chosen trading strategy is a crucial step in becoming a profitable trader.
- đ Copying a successful strategy is acceptable; there's no need to reinvent the wheel, as long as it aligns with your trading style.
- đ Backtesting and journaling at least 750 trades is a key step in understanding the strengths and weaknesses of your strategy.
- đ Demo trading is an essential part of the process, allowing you to test your strategy in a risk-free environment.
- đ§ââïž Personal discipline and consistency are vital for success in trading, and this video aims to be educational rather than flashy or inspirational.
- đĄ The presenter emphasizes that following the seven steps outlined will lead to profitability, based on their own experience of making over a million dollars in crypto trading.
- đ€ The video encourages viewers to engage with the presenter on social media for further support and questions, positioning the channel as an educational resource.
Q & A
What is the main theme of the video?
-The main theme of the video is to educate viewers on how to become a profitable trader without having to pay for courses or mentorship.
Why does the speaker emphasize that the video will not be flashy or inspirational?
-The speaker emphasizes this to set expectations that the content will be raw and educational, focusing on practical steps rather than entertainment or motivation.
What is the first step mentioned in the seven-step tutorial for becoming a profitable trader?
-The first step is understanding that every single trading strategy works, and there is no inherent superiority between different types of traders.
According to the video, where can one find the information needed to become profitable in trading?
-The information needed to become profitable is available for free on YouTube and Google, from various channels and sources.
What is the significance of understanding different time frames in trading as mentioned in step three?
-Understanding different time frames is important because it shows that market movements occur at different frequencies across various time frames, and this knowledge can prevent confusion and help in strategy development.
What does the speaker suggest as the tools for learning a trading strategy in step four?
-The speaker suggests using indicators, such as VWAP and volume, and building a strategy with either your own rules or by copying someone else's, emphasizing that it's okay to copy as there's no need to reinvent the wheel.
Why is backtesting and journaling over 750 trades considered a crucial step in the process?
-Backtesting and journaling over 750 trades is crucial because it allows traders to understand their strategy deeply, including the best trade times, stop loss sizes, and long-term performance expectations, all without risking real money.
What is the purpose of step seven, which involves live testing a strategy on a demo account?
-The purpose of step seven is to understand oneself as a trader, including personal habits, best trading times, and the human factor in trading, before moving to a live account.
What does the speaker claim about the effectiveness of following the seven steps in the tutorial?
-The speaker claims that following all seven steps in the tutorial will lead to profitability for life, provided the steps are followed consistently and diligently.
How does the speaker intend to support viewers beyond the video content?
-The speaker intends to support viewers by being available on Instagram for questions, and also offers a program for those who want to work with him, with links provided in the video description.
Outlines
đ Becoming a Profitable Trader: Free Educational Guide
The speaker introduces a video aimed at teaching viewers how to become profitable traders without the need to pay for courses or mentorship. The video promises a raw, educational approach, contrasting with flashy, inspirational content. It outlines a seven-step tutorial for self-teaching, emphasizing that all trading strategies can be effective if followed correctly. The first step is recognizing the validity of various trading strategies, including smart money and retail trading, and the importance of understanding that all strategies aim for market profitability. The speaker encourages viewers to watch diverse trading videos and read up on strategies available for free online, which will be crucial for finding a trading style that resonates with the individual.
đ Mastering the Art of Trading: Steps to Consistency and Profitability
Continuing from the introduction, the speaker delves into the subsequent steps of the tutorial. The second step is about acknowledging that all necessary information for becoming a profitable trader is freely available online. The speaker advises watching a variety of trading videos from different sources to find a trading method that clicks with the viewer. The third step highlights the uniformity of time frames in trading, explaining how patterns in larger time frames are simply more frequent occurrences in smaller ones. The fourth step involves learning and choosing the right tools for the chosen trading strategy, suggesting that it's acceptable to copy successful strategies as a starting point. The fifth step, which the speaker admits was the most time-consuming for them, is about backtesting and journaling over 750 trades using tools like Excel, Google Sheets, FX replay, or Trading View. This process is meant to familiarize the trader with their strategy's performance over time, including best take-profit points, stop-loss sizes, and long-term expectations. The speaker emphasizes the importance of consistency and dedication in this step, as it is where many may falter.
Mindmap
Keywords
đĄProfitable Trader
đĄTrading Strategy
đĄSmart Money
đĄRetail Trading
đĄBacktesting
đĄDemo Account
đĄIndicators
đĄJournaling
đĄFinancial Freedom
đĄConsistency
Highlights
Introduction: The video aims to teach viewers how to become profitable traders without paying for courses or mentors.
Emphasis on Education: The video focuses on being educational rather than flashy or inspirational.
Step 1: Understand that every trading strategy works, whether it's smart money, retail trading, or pattern trading.
Step 2: All necessary information is available for free on YouTube and Google.
Step 3: Recognize that all time frames in trading behave similarly, with patterns repeating across different intervals.
Step 4: Choose your trading tools and strategy, which can be copied from others.
Step 5: Backtest and journal at least 750 trades using tools like FX Replay or TradingView.
Step 6: Open a demo account and live test your strategy to understand your trading behavior.
Final Step: Open a real live account and start trading.
Reassurance: Following all steps guarantees profitability in trading.
Personal Experience: The speaker has been profitable for the last two years, making over a million dollars trading crypto.
Community Support: Encouragement to engage in the comments and on Instagram for additional support and questions.
End Note: The video is part of an effort to make the channel more educational and supportive for traders.
Dedication Required: Success in trading requires dedication, consistency, and following the outlined steps.
Avoiding Pitfalls: Emphasizes the importance of not trading live money prematurely and avoiding unnecessary losses.
Transcripts
what's up YouTube Welcome to my new
video as you guys can see by the
thumbnail and the title we're going to
have a pretty educational video on this
is going to show you how to become a
profitable Trader without the courses
without having to pay a mentor to teach
you how to trade because to be
completely honest with you even though I
also have a program for those of you who
want to work with me I know that it's
very possible for you to not pay anybody
and still become a profitable Trader
okay so let's get right into it and also
before we get started I also want to
point out that this video is not going
to be like super flashy I'm not going to
be driving the Hellcat I'm not going to
be driving the Beamer none of that it's
not going to be inspirational this is
going to be very educational and very
raw so for those of you who are not
dedicated or consistent or have the
attention spent of a peanut this one's
going to hurt but for those of you who
really want to lock in and learn this is
the video for you okay so in this video
we're going to be going over a seven
step tutorial on how to become a
profitable Trader on your own for
completely free no mentors need it none
of that just you Google and YouTube and
a spreadsheet that's completely it step
one you need to understand that every
single trading strategy Works what do I
mean by that that smart money works that
me effects works that pattern trading
works that retail trading works it does
not matter like smart Money traders and
Retail Traders are not better than each
other that honestly should never be a
discussion because at the end of the day
we all have the same goal and is to make
money with the markets to make money
with the charts and I really want you
guys to understand this part because
it's very important to know that as long
as you follow the other six steps in
this video you are going to become a
profitable Trader 1,000% of the time it
doesn't matter what you trade it doesn't
matter the tools that you use it doesn't
matter your situation no just follow
these seven steps and that's it so first
one is understanding that every single
strategy works very simple but very
important step number two understand
that all the information for you to
become profitable is out there on
YouTube and on Google for completely
free so what you're going to do is that
you're going to watch as many trading
videos as you can and make sure it's
from different channels make sure make
sure it's from different people don't
get stuck with one at the beginning of
this journey it's very important that
you watch as many as you can why because
not all of them are going to click with
you not every single strategy or way of
trading is going to click with you but
once you find the one that does then you
can move on to the next step and once
you're doing this you know once you're
like watching the videos and looking it
up on Google you'll understand maybe
smart money works for you maybe retail
trading works for you like breakout
lines and vws and all that kind of stuff
works for you maybe me effects works for
you or ICT they all lead you to the same
which is profitability Step number three
once you've done step one and step two
and you know the way of trading that you
want to follow I want you to understand
that every single time frame is the same
they all move the same the only
difference is that whatever happens in
the 1 hour is going to happen a lot more
often in the 5 minute and the same thing
with the 5 minute and the 1 minute the
things that happen in the 5 minute are
going to happen a lot more often in the
1 minute and for an example let's say
there's a breakout or a bullish model in
the 1 hour you can step down in the 5
minute you're going to find a lot of
bullish models or bullish breakouts in
the 5 minute minute as it's happened in
the 1 hour and by understanding this
you're going to save yourself a lot of
headaches you can even go ahead and open
on the charts yourself and see it step
number four after you've chosen the way
of trading that you want to follow
you're going to learn the tools let's
say you go with retail trading you're
going to choose the indicators that you
want to use the vwap the volume stuff I
don't trade retail so I really don't
know the breakouts the trend lines the
support lines and all that kind of stuff
you're going to grab all those tools and
make a strategy you can either copy
somebody else say you a smart money
strategy if an ICT strategy you can copy
whatever it does not matter but you're
going to build a strategy with either
your own rules or somebody else's R and
trust me it's okay if you copy someone
I've done it everybody else does it
there's no need to reinvent the wheel
and after you decide what strategy we
can move on to step number five and to
be honest this is the one that took me
the longest so it's okay if it takes you
months or even a year to get this done
because it takes a while especially if
you don't have a lot of time like I know
it's a little bit different now cuz it's
summertime but once you guys are back in
school or if you're back at your job or
whatever I much have to do step number
five but it's possible in this step is
where the weak-minded people the lazy
people or those of you who can't be
consistent with anything are going to
fail you're going to have to back test
and journal over 750 trades what do I
mean by that you're going to go on Excel
or Google Sheets you're going to use
either FX replay or the replay tool on
trading view you're going to go back
years in time 3 4 years it does not
matter as long as you get 750 trades
tested and you're going to test your
strategy until you get at least 750
trades this way you not only get to know
your strategy by knowing when the best
TPS are how big your stop loss should be
what the Max draw down over a long
period of time is the amount of money
that you can expect over a long period
of time but also unlike everybody else
on social media that tells you to go
trade live and lose a lot of money like
they did you get to have no risk cuz
you're not going to be trading real
money you're not even going to be
trading demo you can honestly speedrun
this like you don't have to to be like
there with a demo account waiting every
single morning for a [Â __Â ] trade like
a dumbass like honestly who the [Â __Â ]
does that when you have FX replay or the
replay tool on trading view you can
literally just fast forward as much as
you want you know there's no point the
market still move the same as they did
three years ago so yeah so summarize
step five back test and journal at least
750 trades once you've done that then we
can move on to step number six and this
is not as painful as step number five
but it's still pretty boring because
you're G I feel like you're ready to go
and trade with a live account or a prop
firm or whatever but like I said you
have to follow every single one of these
steps to make sure that you actually
become profitable if you follow them I'm
going to keep on saying this every
single person that follows all the steps
all seven steps in this tutorial is
going to become profitable for life and
for free just by watching this video
which is kind of cool right okay so step
number seven you're going to go and open
a demo account you're going to live test
your strategy has already been back
tested forever a few months it could
take somebody 3 months to feel ready or
it could take somebody 6 months or it
could take somebody a month to be done
with step seven but basically what step
seven is and what it works for is so
that you know and understand yourself as
a person as a Trader because you're not
a machine right we're all human here
it's not AI trading for us so maybe if
you're trading at certain times of the
night then you can't wake up the next
day like super early to trade New York
those little things the human factor of
trading is where you get to know it
that's what you're really testing in
Step seven okay now let's say that you
know yourself as a Trader you're done
with step seven you know all the ins and
outs from when you should go to bed when
you should wake up and when honestly
like the best Trader as a person during
the day okay once you've done all that
we can move on to step eight which is
the last step in which is basically
going and finally opening a real live
account and trading with a real live
account not a lot of you are going to
get all the way here there's no real
step eight it's just trusting that
you've gone through every single other
step that I mentioned in this video
they're all as important and following
them is what's going to decide if you're
going to have Financial Freedom if
you're actually made to be a Trader or
if you even want to be a Trader because
trust me this is the real way to do it
when everybody else is saying on social
media I don't know if it actually works
or if they're just trying to sell you a
course but what I just showed you what I
just told you in this video will make
you profitable if you follow it step by
step that's how I did it now I've been
profitable for the last 2 years I've
made over a million dollars trading
crypto with the steps that I just told
so yeah I just want to thank you guys
for giving me the time of your day to
watch this video I really hope that
every single person that watches this
video does the steps and if you guys
want to lock in with me and learn the
way I trade and like I said all the
links are down below hope to see you
guys in there but through all that
believe in yourself to stay locked in
and let me know in the comments what you
thought about this video cuz I'm kind of
trying to make this channel more like an
educational Channel with no [Â __Â ] to
just basically help you guys cuz I know
trading is a lonely road so maybe I can
be that friend that's there when you
know when you need it so yeah don't
hesitate to ask me any questions on
Instagram links down below but yeah
that's the end of the video love you
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