7 Trading SECRETS That Made Me a Millionaire by 21
Summary
TLDRThis video script emphasizes the importance of consistent habits for traders to achieve profitability. It outlines seven key habits including mechanical trading, pre- and post-market routines, wise profit spending, continuous learning, idiosyncratic thinking, life optimization, and taking high-quality trades. The speaker shares personal experiences and examples to illustrate the effectiveness of these habits, advocating for a disciplined approach to trading that leads to long-term success.
Takeaways
- đĄ Consistent habits lead to consistent results in trading, and lack of consistency or wrong habits can lead to continuous losses.
- đ€ Mechanical trading is crucial for eliminating emotions and guesswork; professional traders use predetermined rules for their trades.
- đ A successful mechanical trading system includes clear entry criteria, exit routes, risk management, and a trading routine.
- đ The importance of a pre-market routine for analysis and preparation, and a post-market routine for reflection and journaling to improve trading habits.
- đ° Spending profits wisely is vital; prioritize family, team, and reinvestment into trading before personal luxuries.
- đ Continuous learning and self-improvement are essential for traders to stay ahead and avoid complacency in the market.
- đ§ Idiosyncratic thinking, or thinking differently from the norm, is a key trait of highly successful individuals and can be beneficial in trading.
- đïž Optimizing all aspects of life, including work, sleep, exercise, diet, and mental clarity, can enhance trading performance.
- đ« Avoid relying on trading signals or robots; focus on becoming an independent, consistently profitable trader.
- đŻ Focus on the process of trading, not the outcome, to build discipline and patience, which will naturally lead to profitability.
- đ The final takeaway is that mastering trading and becoming consistently profitable requires dedication, the right habits, and a commitment to continuous improvement.
Q & A
What are the two main reasons a trader might be losing money according to the speaker?
-The two main reasons are inconsistency in daily trading habits, hopping from one strategy to another, and being consistent but doing the wrong things every day, which holds them back from trading success.
What is the first habit the speaker suggests for generating consistent profits?
-The first habit is mechanical trading, which involves using a set of predetermined rules to trade without emotions, thus ensuring consistency in actions and results.
What are the key components of a mechanical trading system as outlined in the script?
-The key components include entry criteria, exit routes, risk management rules, and a trading routine that includes journaling and tracking trading data and analytics.
Can you explain the importance of a pre-market routine according to the speaker?
-The pre-market routine is crucial as it allows the trader to analyze and mark up charts before the trading session begins, helping to identify potential trade setups and maintain clear thinking during volatile market openings.
What does the speaker suggest doing after the market session ends as part of the post-market routine?
-The speaker suggests brewing a cup of tea, relaxing, and then performing journaling on a trading dashboard to review the day's trades, emotions, and thought processes to learn from mistakes and reinforce good habits.
Why is it important to spend profits wisely according to the speaker?
-Spending profits wisely is important because it ensures that the trader retains the money they make, takes care of their family and loved ones, and reinvests in their trading business, leading to long-term financial stability and growth.
What is the speaker's view on continuous learning and improvement in trading?
-The speaker believes that no matter how long one has been trading, there is always room for improvement and new things to learn. Complacency and ego can lead to losses, so traders should be lifelong students of the markets.
What does the speaker mean by 'idiosyncratic thinking'?
-Idiosyncratic thinking refers to unusual, odd, or peculiar thinking that sets successful individuals apart from the norm. It is the ability to question conventional wisdom and seek truth, which can lead to unique insights and success in trading.
What are the speaker's 'five daily non-negotiables' for optimizing life as a trader?
-The five daily non-negotiables are 12 hours of work, 7 hours of sleep, 60 minutes of intense exercise, 5 minutes of meditation, and maintaining a clean diet.
Why should a trader focus on the process rather than the outcome when trading?
-Focusing on the process helps a trader to do the correct things consistently, like following a mechanical trading plan and journaling trades, which builds patience and discipline. This approach leads to becoming a better trader, and the market will reward consistent actions with consistent profits.
Outlines
đ The Path to Consistent Trading Profits
This paragraph emphasizes the importance of consistent daily habits for achieving profitability in trading. It suggests that traders who lose money do so due to a lack of consistency or because they are consistently doing the wrong things. The speaker introduces the concept of mechanical trading, which involves following a set of predetermined rules to eliminate emotional decision-making. Successful traders like Paul Tudor Jones and George Soros are cited as examples of individuals who use mechanical systems. The paragraph outlines the components necessary for a mechanical trading system, including entry criteria, exit routes, risk management, and a trading routine. It concludes by stating that without such a system, one should not trade live accounts.
đ Pre and Post-Market Routines for Trading Success
The speaker discusses the significance of the time spent off the charts in shaping a trader's success. A detailed pre-market routine is described, which involves analyzing the market structure and marking up points of interest before the London session begins. This preparation is crucial for maintaining clear and emotion-free trading during volatile market periods. The post-market routine includes journaling and reviewing trading performance using a 'professional trading dashboard' to learn from mistakes and reinforce good habits. The importance of reviewing trades periodically is also highlighted as a means to identify patterns and improve trading strategies.
đ° Wise Profit Management and Prioritizing Family
The paragraph focuses on the importance of managing trading profits wisely. It criticizes young traders for spending their earnings on materialistic items to impress others, rather than investing in their families and future. The speaker shares personal anecdotes about how they ensured their family's financial security and rewarded their team after achieving success in trading. The narrative underscores the value of prioritizing loved ones and reinvesting in one's trading business before indulging in luxuries.
đ Continuous Learning and Personal Growth
The speaker stresses the importance of continuous learning and self-improvement in trading. They argue that no matter how experienced a trader is, there is always room for growth. The paragraph warns against complacency and suggests that a trader should approach the market with humility and a willingness to learn. The speaker also emphasizes the value of investing in one's education and personal development, using their own experiences and the experiences of others as examples.
đ€ Idiosyncratic Thinking: The Key to Unconventional Success
This paragraph discusses the importance of thinking differently to achieve extraordinary success. The speaker draws parallels between successful individuals like Einstein, Michael Jordan, and Elon Musk, and their unconventional thinking. They share their personal story of being ridiculed for their ambitions and how they defied expectations. The speaker encourages questioning conventional wisdom and seeking truth, rather than blindly following the crowd or authority figures.
đïž Optimizing Life for Peak Trading Performance
The speaker outlines their daily non-negotiables that contribute to their trading performance, including work hours, sleep, exercise, meditation, and diet. They compare the discipline required for a successful trading career to that of a professional athlete. The paragraph emphasizes the importance of maintaining physical and mental health to ensure clear thinking and focus during trading sessions, and how these habits can lead to better decision-making and trading success.
đ« Avoiding Shortcuts and Focusing on Quality Trades
The final paragraph warns against relying on trading signals or robots and emphasizes the need for traders to become independently profitable. The speaker encourages focusing on the process of trading, rather than the financial outcome, and making each trade a reflection of the trader's desired identity. They advise against emotional trading and instead advocate for a disciplined approach that includes journaling, backtesting, and following a mechanical trading plan to achieve consistent profitability.
đŻ Setting Goals for Consistent Trading Mastery
In the concluding paragraph, the speaker invites viewers to join the 1% Club for serious traders who aim to master trading and achieve a consistent monthly income. They offer a pathway for those who wish to become profitable traders within a year and remind viewers that success in trading is within reach with the right mindset and approach.
Mindmap
Keywords
đĄConsistent Profitability
đĄMechanical Trading
đĄRisk Management
đĄTrading Plan
đĄEmotional Trading
đĄPre- and Post-Market Routine
đĄJournaling
đĄContinuous Learning
đĄIdiosyncratic Thinking
đĄOptimization
đĄHigh-Quality Trades
Highlights
Consistency in daily habits is crucial for profitability in trading.
Inconsistency and lack of a defined plan are common reasons for trading losses.
Mechanical trading removes emotions and guesswork from trading decisions.
Successful traders like Paul Tudor Jones and George Soros rely on predetermined rules.
A mechanical trading system should include entry criteria, exit routes, risk management, and a trading routine.
The importance of a well-defined trading plan that a robot could execute for profitability.
Case studies of traders improving win rates by adopting mechanical trading plans.
The significance of a pre-market routine for analysis and preparation.
Post-market routine involves journaling and reviewing trading performance.
Wisely spending profits on family and reinvestment rather than material possessions.
Continuous learning and improvement are necessary for long-term trading success.
Idiosyncratic thinking is the key to achieving extraordinary success in trading.
Optimizing all aspects of life for peak trading performance.
The importance of high-quality trades over quantity and the avoidance of trading robots or signals.
Focusing on the trading process rather than the outcome leads to consistent profitability.
The 1% Club offers a path to becoming a consistently profitable trader.
Transcripts
I only became consistently profitable
when I started practicing the correct
habits every single day because
consistent actions leads to consistent
results if you are still losing money as
a Trader there can only be two reasons
number one you are inconsistent in what
you do every day you hop from one
strategy to another you trade based on
how you feel on that day rather than
based on clear defined rules on your
plan even if you do have a trading plan
you follow it only when you feel like it
and this is causing you to lose your
heart and money on lowquality trade
setups that do not work the second
reason is you are consistent but you are
doing the wrong things every day and
quite frankly these things are holding
you back from Trading success you will
just continue to lose money over and
over again and empty out accounts after
accounts if you do not correct them and
then you will never actually become
consistently profitable and then you end
up quitting and then you think that
Forex is a scam in this video I'm not
going to be talking about the
self-improvement habits that you see on
motivational Clips like wake up at 5:00
a.m. take a cold shower and then run a
marathon I'm going to be talking about
the seven habits that actually allow me
to generate consistent profits every
month as a Trader the first habit is
mechanical trading by now you should
understand that the main reason on why
you are still losing money as a Trader
is because of emotions when you look at
professional traders who made billions
of dollars like actual Traders not
trading gurus people are like Paul tter
Jones and George Soros they're not
trading based on their emotions or using
best guess based things like support and
resistance levels or trend lines or
anything else you have most likely
learned in the past there are using a
set of predetermined rules zero emotion
whatsoever once again they are not
flooding their charts up with indicators
like RSI Ballinger bands or macd they
are trading based on the rules that they
have set in place that's all they did to
succeed they built mechanical rules and
then they followed them that's the
secret and it's one that most Traders
don't know about in fact maybe you have
never heard of trading you using
mechanical rotes either which Pro my
point a mechanical trading system allows
you to trade like a robot it remove any
sort of emotion or guess work whatsoever
so if you see this setup that fulfill
this criteria you enter for the trade
and if you don't see this setup it
doesn't fulfill any sort of the criteria
you laid out in the plan you stay out of
the market as simple as debts and this
not only builds patience and discipline
inside your Trading but it also allows
you to become consistent in your actions
in terms of taking the high quality
trade setups only and as a result you're
able to become more consistent in your
results and make consistent profits in
order to build a mechanical trading
system that allows you to bank
consistent profits you need to include
the following stuff in it number one the
entry criterial what do you want to see
in the market in order for you to enter
for the trade what time frames are you
analyzing the charts on what time frames
are you executing the trades on number
two your exit routes where do you want
to place your stop loss or your take
profit how are you going to manage your
open position are you going to take full
take profit or parure out your profits
or Trail your stop loss number three
risk management rules how much money are
you risking per trade what's the maximum
draw down you are willing to accept what
is your minimum risk to draw ratio and
number four your trading r routine what
are you doing every single day in order
to improve your trading performance and
your results and how are you going to
journal and track all your trading data
and analytics all these rules have to be
so well defined that you can literally
give this plan to a robot and then it
can execute the trade based on these
rules and actually make money if you
don't have any of these rules in place
you shouldn't even be thinking about
traing Live accounts or getting funded
Accounts at all right now your sole
focus should be creating a mechanical
trading plan and if you're thinking yeah
right if only a set of dumb rules can
allow me to extract money from the
market well take fret for example this
guy was trading based on retail Concepts
and he just didn't know where to get in
and out of the markets effectively as a
result he suffer a low win rate of
177% and then I handed him my mechanical
plan
and a mon of so he increased his win
rate to a whooping
81% after finally gaining extreme
Clarity and confidence in analyzing the
charts or take Arya who's a funded
Trader who made over
$25,000 just last month after she has
implemented the mechanical trading
system that she's been taught inside the
1% Club bear in mind that they are all
regular people just like you and me who
started trading from scrp
and manag to make consistent profits
only after they started trading
mechanically the second habit is my pre
and post Market routine the time you
spend off the charts is actually more
important than the time you spend on the
charts what you do when you are not
actively trading actually determines the
trajectory of your trading Journey
whether you can become consistently
profitable in 6 months or one year or
never my prear Market routine starts
about 1 hour before the opening of the
London session this is when I open up my
charts on trading View and I mark up my
charts and do my analysis so firstly I
map up my market structure on the higher
time frame to determine whether price is
bullish or bearish whether price is in
the continuation phase or the pullback
phase then I begin to mark up my point
of Interest like your supply and demand
zones or your order block by doing this
I know exactly what trades setups am I
looking for when the London session
actually opens and the volatility starts
kicking in and I also know where I want
to be trading from and why am I trading
from these zones you must do this
because if you choose to mark up your
charts when the trading session opens
you will start to feel emotional as you
start seeing the candlesticks getting
bigger and price moving faster and as a
result you won't be thinking and trading
clearly and Al now I share my chart
analysis with our 1% club members during
our bi-weekly live trading session and
this way they are able to trade life
with me and understand how I personally
analyze the charts accurately in real
time and they can confirm their buyers
and as a result they're able to trade
confidently with ease my postmarket
routine starts after I'm done trading
for the day this is when I brew a nice
cup of Japanese green tea put on my
airpods Max and then I go on to my
trading dashboard on notion called the
professional trading dashboard and start
to perform my journaling you must do
this right after you are done trading
because this is when your memory is
still fresh and you can actually
remember the mistakes that you commit
when you are trading and what emotions
you feel when you are trading and your
entire thought process this way you can
learn from your mistakes reinforce any
good trading habits and actually improve
as a Trader the best way to improve is
to do more of what works and do less of
what doesn't but how are you going to do
that if you're not even aware of your
own strength and weaknesses as a Trader
and you can't just Journal your trades
and put it aside you need to make sure
that you review your trades monthly
quarterly and annually so that you can
actually identify any sort of patterns
within your strategy and your
performance and this will allow you to
make massive improvements every year and
it's result make more money and scale
your trading accounts the third habit is
to spend my profits wisely it's not
about how much money you make it's about
how much money you can actually keep
that was what my friend said to me 3
years ago when I made my first $10,000
from Forex Trading and then I lost it
the next day the biggest mistake I see
so many young Traders make nowadays is
that they spend their profits on stupid
[Â __Â ] to impress people they don't like
they start taking trips to Bali and rent
a porsch or buy a chip $1,000 Rolex now
forget about all the money forget about
the cars the Watchers the women and the
expensive
diners at the end of the day they all
don't matter all that matters is your
family now listen buddy if you still
haven't taken care of the people that
you love you you don't have the rights
to enjoy these nice things the first
thing I did when I make my first million
was to make sure that my family was set
I started giving my dad monthly
allowance so that I could retire him I
started bringing my mom out to shopping
and buy her anything she wants without
looking at the price tag and recently I
just came back from uh vacation where I
literally flew my entire family out to
Shanghai China which is their dream
vacation and spent about
$115,000 doing so and it just makes me
melt looking at them small truck that
entire trip and bear in mind that we
grew up in the rural parts of China
where we didn't even have access to
clean water and proper education and
it's crazy to think that I just spent
about $115,000 in just 5 Days Mary that
I was not used to sing as a kid that's
what a real man does I'm proud to say
that as a man because that is why I
started trading in the first place to
ensure that my family is set for life
because after all they did everything
they could to bring me here to Singapore
to give me a better life the second
thing I did was to reward my team
members with bonuses especially my day
ones those people who have been loyal to
me for a few years since the start and
help me build my business to where it is
today and the third thing I did was to
reinvest the monthly profits back into
my trading I started purchasing more
funded challenges I started opening
larger life accounts and plann how to
skill my trading to seven figures and
Beyond I did all of those before I
bought my first Rolex and start taking
Vacations or spend money without
thinking twice and guess what because I
did all of those first I'm now feeling
more fulfilled and happy more than ever
and I'm also on my way to make my second
million this year the fourth habit is
continuous learning and Improvement I
don't care how long you've been trading
whether you've been trading for 1 year 4
years or even 10 years you still have
more room to improve and more things to
learn the moment you start thinking that
you already know everything is the
moment that you will lose everything
once you start getting complacent and
you think that you are smarter than the
market the market will humble you in a
very painful manner so put your ego
aside and become a lifelong student of
the markets for the next 5 years just
put your head down and work don't care
about impressing other people don't
think too much about the end result or
the destination just focus on putting
one step in front of the other and
making today better than yesterday and
slowly but surely you will get there
competence leads to confidence as you
learn more and practice more more you
will most likely gain confidence in your
own trading performance because now you
are able to build up a track record that
actually prove to yourself that you
actually know what you are doing and
with this track record you are able to
continuously refine and improve your
Edge so that you can keep on getting
better and make more money people often
ask me what should they invest their
money in right now is it stocks or
crypto and my answer is always the same
as cliche as it might sound the best
investment you can make is in yourself
in your own education I've personally
spend thousands of dollars on my own
education on things like causes and
masterminds also that I can become a
better Trader and a better entrepreneur
and it's just really stupid to think
that people expect to make millions of
dollars but they would even want to
spend
$100 on getting the proper education
that actually allows them to make those
millions of dollars so if you don't want
to be like this broke idiots just join
the 1% club and see for yourself if you
don't like it you can always cancel your
subscription anytime you want remember
you will never ever regret investing in
your own education you will only regret
not doing it earlier the fifth habit is
idiosyncratic thinking if you look at
the greatest of all time people like
Einstein Michael Jordan Steve Jobs Jeff
Bezos and Elon Musk they didn't become
massively Successful by being normal B
in mind that they were all caught crazy
when they started because they are not
like the rest they are not normal it
must have been when I was 18 years old
where I was completely broke with less
than $100 in my bank account I remember
telling my friends that I'm going to
become rich one day and change the world
and they all laugh they all made fun of
me and told me no way Brad you are such
an idiot who can't even study how are
going to change the world and now guess
who's laughing since the day you were
born you have been indoctrinated and you
have no choice but to follow the
conventional path you don't question
your teachers or Elders or figures of
authority just like a good boy you
follow exactly what the trading gurus
say just because they have a little bit
of material success I was just like you
until I started to question everything
think idiosyncratic thinking is this
unusual odd peculiar thinking is The X
Factor that allows the top one% to
perceive and build a whole new reality
remember normal doesn't make you money
normal thinking does not make you any
money whatsoever you will not get
unconventional results by following the
conventional path by following the
majority the hurt that is heading
towards the slaughter house so my advice
for you is to judge every single piece
of information critically by questioning
it or challenging it regardless of its
source seek the truth my friend just
because it's on the news doesn't mean
it's true just because that trading Guru
drive a red Ferrari doesn't mean that
you really understand how the market
truly works the sex habit is to optimize
every part of your life when you go on
to the markets you are competing against
a guy like me who's obsessed who wants
it so bad enough that is willing to do
whatever it takes to crush you to take
away your heart earned money I'm willing
to optimize every single part of my life
so that I can operate at big performance
when I am trading my five daily
non-negotiables are 12 hours of work 7
hours of sleep 60 Minutes of intense
trading a 5 minutes meditation and a
clean diet and I've been doing this
religiously for the past four years of
my life that's how bad I want it so the
next time you decide to go on a party on
a Thursday night and then you go on to
the markets the next day to trade with
your brain which is still fogging and
you're not thinking clearly I want you
to think about me now jokes aside I
can't emphasize how important it is to
treat yourself as a professional athlete
you must be focused before each trading
session if not you will lose money small
mist sticks can actually clout your
judgment and cause you to take stupid
trades and win stupid prizes now you
don't need a 10 step morning routine so
let's not over complicate things for
exercise just run or gym for 30 to 45
minutes basically the point is to get
your heart rate up and then for diet
vegetables and red meat is really all
you need I'm a freaking millionaire and
I still eat chicken breast and broccoli
for lunch and of course I do enjoy a
nice medium rare stick one
every week and then for sleep just Track
Your Sleep Quality right get blackout
curtains dim the lights before your
bedtime so that your brain actually
signals to you that it's time for bit
buddy these things might seem
insignificant right now but trust me if
you can do them consistently it'll be so
much easier for you to become a
successful Trader because you will be
able to have more energy have more
attention span and this all allows you
to think much more clearer on the charts
itself the seventh habit is to take high
quality trades now listen buddy [Â __Â ]
trading signals [Â __Â ] trading robots none
of them actually work your sole purpose
is to become a independently
consistently profitable Trader who
doesn't rely on anybody but yourself
because quite frankly that is all you
have when you go on to the markets it's
you against you and you literally
determine how much money you can make on
that day so I want you to focus on
becoming the trader that you want to be
focus on the process not the outcome
remember every trade you take is a vote
for the type of Trader you want to
become that means every time you take a
bad trade that is against your trading
plan you are literally voting for
yourself to become a losing Trader but
every time you take a good trade that is
align with your trading plan and your
mechanical rules you are voting for
yourself to become a disciplined and
successful Trader so the next time you
do decide to take a trade just think
about this and really when I say focus
on the process and not the outcome what
I'm saying is that I'm telling you to
put the end goal aside right now because
if you focus on money you're just going
to end up forcing trades when there is
no opportunity Revenge trading and
overtrading because you want to get rich
in the shortest amount of time possible
you will be trading based on emotions if
you really want to focus on the money
but however if you focus on the process
you focus on doing the correct things
every single day journaling your trades
back testing front testing uh following
your mechanical trading plan things that
actually builds that patience and
discipline within you as a Trader guess
what you become a better Trader and when
you become a better Trader the market
will inevitably have to reward you with
consistent profits because now you are
consist in your actions you're
consistent in terms of the trade setups
that you actually take every single week
and of course you're going to get
consistent results now if you're serious
about mastering trading and you wish to
make 5K to 10K per month from Trading
within the next 12 months and actually
you know become a consistently
profitable Trader check out the 1% Club
if not you can check out this video
right here where we teach you how to
master trading in the shortest amount of
time possible and as always remember
you're just one trade away
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