3 signs you’re about to turn profitable in Day Trading

Summary

In this video, Acum shares his personal journey to becoming profitable in day trading. He highlights three key signs before success: detaching from profit and loss (P&L), gaining self-awareness about personal traits like ego and discipline, and developing patience and strict adherence to a trading strategy. By focusing on high-quality trades and solid risk management, Acum achieved consistent results, including his first payouts. He emphasizes the importance of psychological control, humility, and continuous learning, both inside and outside of trading, and shares insights from his own community of traders who are seeing similar success.

Takeaways

• 😀 The first sign that you're on the path to profitability in day trading is detaching from the P&L. Focus on following your rules and strategy, not the monetary outcome.
• 😀 When you stop caring about your P&L, you begin to make better, more disciplined trading decisions, leading to consistent profits over time.
• 😀 The key to success in day trading is psychological control. It’s crucial to understand your personal characteristics and flaws that are affecting your trading behavior.
• 😀 Ego can be a major barrier to success in trading. Overcoming arrogance and adopting a mindset of humility helps you grow and improves your trading consistency.
• 😀 Gaining psychological control outside of trading, such as through physical activities like running or working out, translates to better control within the markets.
• 😀 Building habits like following through on personal commitments, such as cleaning your room or exercising, helps develop the discipline needed for consistent trading.
• 😀 Recognizing when your ego is in the way of following rules and making decisions is essential to growth. Humility and discipline are needed to turn profitability around.
• 😀 Patience is another sign of improvement. When you start waiting for high-quality A+ trades and executing only your strategy, you’re on the right track.
• 😀 Consistently applying risk management and sticking to your strategy without chasing random trades is critical to becoming profitable.
• 😀 Focus on the process and ignore short-term results. The outcome will take care of itself once you follow a strict trading plan and risk management strategy.

Q & A

What was the first sign that the speaker was on the verge of becoming profitable in day trading?

The first sign was when the speaker stopped caring about their Profit & Loss (P&L). They realized that focusing on profits and losses was emotionally draining and not conducive to consistent trading. Instead, they decided to follow their trading rules and risk management plan without being concerned about daily profits or losses.

How did detaching from the P&L affect the speaker's trading performance?

By detaching from the P&L, the speaker was able to focus purely on following the process — executing high-quality trades and sticking to the risk management plan. This shift in mindset led to consistent results, and they passed their funding account and received their first payout without even realizing it.

What psychological barriers did the speaker identify as hindrances to their trading success?

The speaker identified their ego, arrogance, and lack of discipline as the main psychological barriers. They realized that they weren't following their own rules because they thought they were above doing necessary work like journaling and backtesting.

How did the speaker address these psychological issues to improve their trading?

The speaker worked on their psychological control by committing to daily physical activities, such as running and going to the gym. These actions helped them build discipline and focus, which eventually reflected in their trading mindset and decision-making.

What role does ego play in the speaker's trading journey, and how can it be managed effectively?

Ego plays a significant role in motivating the speaker to push harder, but it also led to arrogance and a lack of discipline. The key was to internalize ego — recognizing personal worth and using that confidence to fuel hard work, while staying humble and respectful externally.

What does the speaker mean by 'waiting for high-quality A+ trades'?

Waiting for high-quality A+ trades means being patient and only taking trades that strictly align with the speaker's strategy. This approach emphasizes discipline and only executing trades that have a high probability of success, rather than randomly taking trades or acting on emotions.

How did the speaker's strategy help them become profitable?

The speaker's strategy was solid and consistent. By sticking to it and waiting for the right trading setups, they were able to avoid impulsive decisions, maintain risk management, and build long-term profitability. Their belief in the strategy helped them stay patient and focused on the process.

What advice does the speaker give about focusing on the trading process rather than the outcome?

The speaker advises that traders should focus on the process — following rules, managing risk, and waiting for the right opportunities — rather than obsessing over the daily P&L or expected outcomes. This shift in focus helps to eliminate emotional reactions to wins or losses and promotes consistency.

How does the speaker's Discord community support traders in their journey to profitability?

The speaker's Discord community provides daily lectures, weekly backtesting sessions, and private discussions where traders review each other’s trades, share progress, and address challenges. This community support helps traders identify and address their personal barriers, such as overtrading or lack of confidence.

What does the speaker mean when they say, 'lowering your ego' is key to success in day trading?

Lowering your ego refers to reducing arrogance and being humble enough to acknowledge personal flaws, such as not following rules or not doing the necessary work. The speaker emphasizes that recognizing and addressing these issues, rather than ignoring them, is crucial to becoming a successful trader.