Smartest Route To $10,000/Month Trading in 2024 (With ZERO Experience)

Summary

This video script offers a comprehensive guide for aspiring traders, sharing the speaker's journey and strategies that led to their success in trading. It emphasizes the importance of mentorship, finding a consistent trading strategy, and managing risk effectively. The speaker debunks common myths, stresses the significance of process over monetary goals, and provides actionable tips for maintaining consistency and growing a trading account. The script is a testament to the belief that with discipline, the right approach, and a focus on learning from data, anyone can achieve trading success.

Takeaways

• 😀 Consistency in trading success comes from years of experience, trial and error, and learning from various mentors and strategies.
• 📈 To become profitable quickly, a trader should focus on a simplified strategy with clear entry and exit criteria, rather than over-complicating trading with multiple systems.
• 📊 The importance of having a verified trading record and following a single mentor to block out noise and distractions from various trading strategies.
• 🤔 A profitable trader is made through education and experience, not by a single course or program, emphasizing the need for continuous learning and practice.
• 💡 The necessity of managing risk, balancing emotions, and waiting for the right trading opportunities to avoid blowing the trading account due to small mistakes.
• 🚀 The significance of focusing on process-based results rather than monetary goals, which can lead to more enjoyment and consistency in trading.
• 🔍 When choosing stocks to trade, focus on those that are trending, have news events, and show unusual volume, as these factors can indicate potential market movement.
• 📝 The value of keeping a trading journal to identify personal strengths and weaknesses, understand market cycles, and adapt strategies accordingly.
• 🛑 Setting a daily stop-loss dollar amount to prevent significant losses and maintain consistency in trading performance.
• 🚫 Avoiding the common advice of risking only 1% of capital without context, suggesting that risk should be sized appropriately based on market conditions and personal consistency.
• 🌐 The role of community and sharing success stories as a source of motivation and validation that profitable trading is achievable with the right approach and mindset.

Q & A

How long did it take the speaker to become a profitable trader after starting?

It took the speaker 3 years of trial and error to become a profitable trader.

What is the speaker's confidence level in being able to restart and become profitable again with current knowledge?

The speaker is confident that they could become a profitable trader in half the time with the knowledge they have today.

What is the main goal of the video according to the speaker?

The main goal of the video is to provide a roadmap to profitability for new traders and to bust any myths about starting trading.

How did the speaker validate their trading success in the video?

The speaker validated their trading success by showing a real broker statement from Interactive Brokers and mentioning their live logins and daily P&L on Instagram.

What does the speaker believe is the key to fast-tracking the learning process in trading?

The speaker believes that finding a core group of traders or mentors and following their teachings is key to fast-tracking the learning process in trading.

What is the speaker's opinion on the effectiveness of trading courses in making a profitable trader?

The speaker believes that while trading courses are good for getting on the right path, they alone will not make someone a profitable trader.

What is the speaker's advice for new traders regarding the number of trades they should take per day?

The speaker advises new traders to have a defined rule on the number of trades they can take per day, suggesting a maximum of three trades.

What is the speaker's view on the common advice of risking 1% of capital per trade for growing a trading account?

The speaker believes that the advice of risking 1% of capital per trade is wrong and suggests slowly increasing risk when seeing A+ setups in a good market instead.

What are the speaker's tips for keeping losers small and winners big in trading?

The speaker's tips include having a defined stop dollar amount for the day, knowing how many trades you can take per day, not having a dollar goal per day, and taking time off when learning to trade.

Why does the speaker emphasize the importance of journaling trades for new traders?

The speaker emphasizes journaling trades to help new traders identify their mistakes and strengths, understand market cycles, notice discrepancies in their strategy, and improve their trading over time.

What is the speaker's perspective on the role of emotions in trading and how to manage them?

The speaker believes that emotions play a significant role in trading and suggests taking time off to manage them, ensuring a fresh mindset for better trading decisions.

Outlines

00:00

🚀 Trading Success Framework

The speaker shares their seven-year trading journey, emphasizing the importance of finding a profitable strategy through trial and error. They offer to provide a comprehensive framework for new traders to follow, covering market structure, price action, and strategy. The speaker validates their expertise by showing a broker statement from Interactive Brokers, demonstrating a 30% gain in one month. They stress the importance of education and finding a core group of mentors, recommending focusing on one mentor to avoid information overload. The speaker also discusses the need for a simple trading strategy with clear entry and exit criteria for beginners.

05:02

🔍 Understanding Trading Failures

This paragraph delves into the reasons why traders fail, highlighting the misconception that having a strategy alone leads to profitability. The speaker explains that sticking to a strategy for an extended period is crucial, as short-term results are not indicative of a strategy's effectiveness. They also discuss the importance of risk management and emotional balance, emphasizing that traders often underestimate the effort required to succeed in trading. The speaker advises focusing on process-based goals rather than monetary outcomes, suggesting that consistency in trading will naturally lead to financial success.

10:03

📈 Choosing the Right Stocks

The speaker provides guidance on selecting stocks for trading, recommending focusing on stocks that are already trending to increase the probability of a winning trade. They discuss the significance of gaps in stock prices, news events, and volume as indicators of potential market movements. The speaker explains how these factors can be used to identify stocks that are likely to continue moving in a particular direction, thereby increasing the chances of a profitable trade. They also touch on the importance of understanding market structure and using higher time frames to identify key levels and patterns.

15:04

📊 Market Structure and Price Action

This paragraph focuses on the importance of understanding market structure and price action for successful trading. The speaker explains how to identify uptrends and downtrends and advises new traders to avoid focusing on sideways or consolidation action due to lower win rates. They also discuss the significance of price action near key levels of support and resistance, emphasizing that traders should only read price action near these levels to avoid noise. The speaker shares their favorite price action candles for entering long and short positions and provides examples of how these can be used in trading strategies.

20:04

💹 Growing a Trading Account

The speaker addresses the common advice of risking 1% of capital per trade and challenges its effectiveness for growing a trading account. They advocate for starting with small trade sizes to minimize losses and learn the market. The speaker suggests that the key to growing an account is to slowly increase risk when the market conditions are favorable, highlighting the importance of consistency in trading. They also discuss the importance of taking time off from trading to maintain a fresh mindset and avoid emotional trading decisions.

25:05

🏆 Strategies for Consistent Trading

In this paragraph, the speaker outlines strategies for maintaining consistency in trading and maximizing profitability. They recommend setting a daily stop loss dollar amount to prevent significant losses, limiting the number of trades per day to avoid overtrading, and avoiding setting a dollar goal per day to ensure that trades are not prematurely closed. The speaker also emphasizes the importance of taking breaks from trading to maintain a clear mind and avoid emotional decision-making.

30:05

📚 The Importance of Data in Trading

The speaker stresses the importance of keeping detailed trading journals as a new trader, as this data can reveal both strengths and weaknesses in trading strategies. They explain how analyzing past trades can help traders identify mistakes and improve their approach. The speaker also discusses how long-term data can reveal market cycles, allowing traders to adjust their strategies accordingly. They highlight the need to adapt strategies based on market conditions and the value of historical data in making informed trading decisions.

35:06

🌟 Real Stories of Trading Success

The speaker concludes by sharing success stories from their students, demonstrating the effectiveness of the strategies discussed in the video. They show how traders who have implemented the recommended strategies have achieved significant gains and improved their consistency. The speaker emphasizes that trading success is possible with the right mindset, work ethic, and adherence to the provided roadmap. They encourage viewers to subscribe to the channel and engage with the content to continue their trading education.

Keywords

💡Trading

Trading in the context of this video refers to the act of buying and selling financial instruments, such as stocks, bonds, or currencies, with the goal of making a profit. It is central to the video's theme as the speaker shares his experience and strategies for becoming a profitable trader. An example from the script is the speaker's claim of making over seven figures through trading.

💡Profitable Trader

A profitable trader is someone who consistently earns money from trading activities. The video's theme revolves around the framework for becoming a profitable trader, as the speaker shares insights from his seven-year journey in trading and emphasizes the importance of learning from trial and error.

💡Trial and Error

Trial and error is a method of problem-solving where one attempts different solutions and learns from the outcomes. In the video, the speaker mentions that it took him three years of trial and error to become proficient in trading, highlighting the iterative process of learning and refining trading strategies.

💡Momentum Trading

Momentum trading is a strategy where traders buy securities that are showing strong upward price movement and sell those that are showing strong downward movement. The speaker identifies himself as a momentum price action trader and discusses the break and retest system, a specific setup within momentum trading.

💡Break and Retest

The break and retest strategy involves trading securities after a price breaks out of a trading range and then retests the level of support or resistance. The speaker mentions this as his preferred system, giving examples of setups like the 5-minute opening range and the pre-market high/low.

💡Risk Management

Risk management in trading involves the process of identifying, analyzing, and accepting or mitigating the uncertainty in investment decisions. The video emphasizes the importance of managing risk, with the speaker discussing the common mistake of traders jumping from one strategy to another without giving it enough time to work.

💡Consistency

Consistency in trading refers to the ability to repeatedly achieve successful trades over time. The speaker stresses the importance of achieving consistency through process-based goals rather than chasing monetary results, which is a key message in the video.

💡Process-Based Results

Process-based results focus on the quality and execution of the trading process rather than the monetary outcome. The video encourages traders to focus on improving their trading process to achieve long-term profitability, as opposed to setting monetary goals that might not align with effective trading practices.

💡Market Structure

Market structure refers to the organization of a market into various components, such as bids, offers, and price levels. The speaker discusses the importance of understanding market structure for reading trends and making informed trading decisions, particularly for new traders.

💡Price Action

Price action is the movement of a security's price over time, reflecting supply and demand changes. The video script includes discussions on price action near key levels of support and resistance, which is crucial for determining entry and exit points in trades.

💡Gap Up/Gap Down

A gap up or gap down refers to a significant jump or drop in a stock's price from one trading period to the next. The speaker uses the concept of gap up/down to illustrate market direction strength and how it can be used as an indicator for trading decisions.

💡News Event

A news event is a significant occurrence that can impact the market or an individual stock's price. The video mentions that news events can cause relative strength or weakness in a stock, which traders can use to their advantage when combined with other trading strategies.

💡Volume

Volume in trading refers to the number of shares or contracts traded in a security or market during a given period. The speaker discusses the importance of volume in indicating the strength of a price move, suggesting that higher volume can signal institutional interest and potential for continued price movement.

💡Higher Time Frame

A higher time frame in trading refers to looking at longer periods on a price chart, such as daily or weekly, as opposed to shorter periods like hourly or minute-by-minute. The speaker recommends analyzing the higher time frame for key patterns and levels that can indicate potential trading opportunities.

💡Risk-Reward Ratio

The risk-reward ratio is a comparison of the potential risk of a trade to the potential reward. The video emphasizes the importance of having a defined risk-reward ratio, such as 1:2 or 1:3, to ensure that the potential gains outweigh the potential losses.

💡Stop Loss

A stop loss is an order placed with a broker to sell a security when it reaches a certain price. The speaker discusses setting a defined stop dollar amount for the day to limit losses and protect trading capital, which is a key component of risk management.

💡Journaling

Journaling in trading involves documenting each trade, including details about the trade setup, emotions, and outcomes. The video stresses the importance of journaling for self-reflection, identifying strengths and weaknesses, and understanding market cycles over time.

Highlights

The speaker has been trading for 7 years and has made over seven figures.

It took 3 years of trial and error to become proficient in trading.

The speaker is confident they could become a profitable trader faster with their current knowledge.

A framework for going from beginner to professional trader will be outlined.

The importance of understanding market structure and price action is emphasized.

A profitable trader is taught through trial and error, not just by courses.

The speaker spent $25,000 on a trading program to improve their skills.

Finding a core group of traders or mentors was key to the speaker's success.

A simple trading strategy is recommended for new traders.

The speaker is a momentum price action trader using the break and retest system.

Strategies need time to prove their effectiveness; one week is not enough.

Risk management and emotional balance are crucial beyond just having a strategy.

The input traders put into learning and understanding the market is often insufficient.

Traders often fail due to chasing monetary results instead of focusing on the trading process.

Focusing on process-based results leads to achieving monetary goals more effectively.

The speaker validates their trading success with a $71,000 gain in one month from Interactive Brokers.

Consistency in trading comes from managing risk and emotions, not just having a strategy.

New traders should focus on stocks that are already trending to increase the probability of winning trades.

Four key factors to consider when choosing a stock to trade: gap up/down, news events, volume, and higher time frame trends.

Market structure and price action are essential for understanding when and how to enter trades.

The fastest way to grow a trading account is by slowly increasing risk when conditions are favorable.

Keeping losers small and winners big is achieved through defined stop loss values and not having a dollar goal per day.

Journaling trades daily is crucial for identifying mistakes, strengths, market cycles, and strategy discrepancies.

Real trading success stories are shared to motivate and demonstrate the effectiveness of the provided strategies.

Transcripts

I've been trading for 7 years and I've

made over seven figures trading but to

get to this point it took me 3 years of

trial and error I was trying different

strategies different mentors hopping

from one concept to another but if I had

to restart with everything I know today

I'm confident that I could become a

profitable Trader in half the time so in

this video I'm going to lay out the

exact framework that I would follow to

go from beginner to professional Trader

I'm going to speak on everything you

need to know to restart your trading

Journey from Market structure to price

action to even the strategy you should

follow as a new Trader by the time

you're done watching this video the goal

is that you will have the road map to

profitability so how would I restart

trading if I had to start with $0 now in

this video I want to give you the full

road map on what to follow and I want to

also bust any myths that you may have

about starting trading now a lot of you

have already started your trading career

and that's completely fine this video

will still help make sure that you're on

the right track to actually see some

consistency and success with trading now

before we get any further in the video

it is important that I validate myself

as a Trader and very quickly I just want

to show you guys a real broker statement

from interactive brokers a very

regulated platform for

$71,000 in one month and this was a 30%

gain on that one single month now a lot

of Traders on YouTube can make big

claims but they can't back it up with

real proof so this is a one- month

broker statement from interactive

brokers and of course if you do follow

me on Instagram I do live logins and

show my daily p&l every single day this

is a live login for over a week period

and you can see that this week I made

$41,000 along with one single day where

I made $222,000 and this is once again a

live login from the actual regulated

broker so now that I've shown some proof

of real trading and of course if you

want to see more proof you're always

able to go over to my Instagram or my

Twitter where I post proof almost every

single day of the trades that I take I

want to mention one main thing a

profitable Trader is not taught by a

course a profitable Trader is taught

through trial and error however this can

be fast-tracked by someone who has been

where you are now if you guys have

watched my previous videos you know I've

bought many courses discords I've bought

masterminds I bought oneon-one I bought

a

$25,000 trading program when I was

getting a little bit more consistent and

I was winning in my trades I bought a

$25,000 program trying to learn how to

trade so I am someone that 100% believes

in education but I also know after all

the experiences that I've had through

courses discords and everything in

between I'm telling you right now those

are really good to get you in the right

path however that one Discord or that

one course will not make you a

profitable Trader everyone's looking for

that one thing that's going to make them

a profitable Trader for me I think

personally what helped me the most to

actually see consistency and become a

profitable Trader is finding my core

group of Traders or mentors that I

follow right so I only follow one or

three Traders and mentors that that

allowed me to get to the position I'm in

today because I was able to only stick

to what they were teaching me because

there's so much information online

everyone has a different strategy you

have ICT SMC you have price action you

have supply and demand so many people

trade different strategies and yes they

may work however it is so easy to get

lost in which strategy you should trade

or how you should manage your risk

because everyone has their own opinions

based off their own previous experience

so what I recommend to you in the

beginning is find One Mentor find

someone that has been through where you

are they've been through the trials and

tribulations and of course they have a

verified trading record and follow them

if you follow one person you will block

out the noise of everybody else and you

will stick to that one strategy and if

you can see consistent results with that

Mentor then of course you're going to

get better over time so just understand

that trading is a long-term game however

if you're able to follow One Mentor that

has the same trading approach as you and

can simplif trading down so you can

understand follow that person it doesn't

have to even be me and make sure to ask

questions don't be shy even in the

comments of this YouTube video if you

have questions of this video try to ask

those questions and I will try my best

to get back to you as soon as possible

as well with this being said as a new

Trader you need a simple trading

strategy a lot of Traders over

complicate trading and in the beginning

I've said this multiple times you need

the most simple strategy with the most

simple entry and exit criteria so you

can see it and replicate it in in real

time for me personally I'm a momentum

price action Trader and I trade the

break and retest system now within the

system I have a lot of different setups

that I can trade for example the 5

minute opening range the pre-market high

and low the previous high of day and low

of day setup and I have much more

different setups that I can trade within

my break and retest system and that's

why I think this is one of the best

systems to follow and of course you guys

have seen the results for me as well so

I have full in-depth videos going over

all these strategies however in this

video I want to talk a little a little

bit more about how a new Trader should

approach the way I trade so as I say

this because I did give you the strategy

what if I told you you have the strategy

go become profitable well wait you can't

and a lot of Traders go when they watch

strategy videos which I think are very

valuable however when they watch those

videos they think that's all they need

and boom all of a sudden they're going

to become profitable and I'm here to

tell you strategies is very important

you need to have a profitable strategy

with a proven Edge however just having

the strategy alone will not make you

profitable why the main reasons that I

think that most Traders fail is after

the strategy if it doesn't work in one

week they'll jump ship right so they'll

watch let's say my 5- minute opening

range break and retest that's a really

effective strategy especially for new

Traders intermediate Traders even

Advanced Traders I still use that

strategy to this day when I'm live

trading if a strategy doesn't work over

a onewe period that's not enough time to

actually know if the strategy works

that's way too short however as a new

Trader you want to be profitable as fast

as possible so if it doesn't work in a

onewe period you're just going to jump

ship into the next strategy which may be

the pre-market high and pre-market low

or you might just go and change your

system into the breakout system because

that's what's working for some other

Traders but what you need to understand

is you need to give your strategy time

to work one week might be a down period

for that strategy the market may not be

trending the market may not have

momentum it may not have volume there's

a lot of different factors that come

into play so you need to make sure that

you're trading your strategy over a

longer period of time to actually see if

it works or if it doesn't work one week

two weeks 3 weeks is not enough time you

want to trade that strategy for a month

two months 3 months and really see that

strategy has a proven Edge number two a

strategy is half the battle so like I

just talked about previously if I give

you a strategy and I tell you okay I

gave you the strategy go become

profitable with it that's not how it

works you need the strategy which is

important but after the strategy you

need to be able to manage your risk you

need to have your emotions balanced you

need to make sure that you're only

waiting for that strategy so there's a

lot of different factors that come into

play after the strategy that you need to

follow and in this video we will touch

on those different factors as well

because if all the other factors aren't

aligned and you will make small mistakes

that will end up unfortunately blowing

your account and finally number three

your input does not equal the output you

want so a lot of Traders they come into

the market and they want this great goal

the output they want is making thousands

of dollars a day they want to retire

they want to quit their 9 to5 they want

to live the life that they've been

seeing on social media however the

actual input they're putting to actually

make trading work is very very minimal

they're not doing enough to actually

make trading work they think they are in

their head they're sitting in front of a

computer and they're watching the screen

however they're not actually learning

anything they're just sitting in front

of the computer watching the charts

without actually understanding how the

market structure is moving they don't

actually understand what's going on but

they think they are just because they're

sitting in front of a screen and the

same thing happened to me as a beginner

when I was sitting in front of the

screen for hours per day thinking that I

was learning so much about the markets

but in reality it was coming in one year

and out the other because I wasn't

retaining the information so one thing I

will recommend to you is if you're

watching this video take notes take

notes of what I'm saying or all of my

previous videos take notes of what I say

and make sure you're actually applying

the information that I'm saying because

it's very easy to watch these videos get

a little motivated and then do a little

bit of work and then think okay that's

enough work but in reality you need to

consistently have the same input every

single day to actually get to the output

or the goal that you want to get to so

these are the three main reasons that

Traders fail even if they have the

strategy given to them you need to

combine a lot of different factors in

trading to actually become profitable

and by the time you're done watching

this video the goal is you will know all

the different factors that you need to

actually see consistency in trading so

with this being said what is the main

difference between you and a profitable

Trader I really want you to think about

this question think about yourself today

right now as you're watching this video

and think about yourself in 3 years now

most likely you guys are picturing

someone that is doing much better than

the current position you're in most

likely you thought of someone that put

in a lot of hard work you thought about

your dream or ideal version of you so

what is stopping you today from becoming

the ideal version of yourself well I'll

tell you right now it's the fact that

you're chasing monetary results whereas

a profitable Trader chases process based

results now what does this mean for you

the problem is is because you want to

become a profitable Trader you're trying

to chase these monetary values you want

to make a $100 a day or maybe you want

to make $500 a day maybe you even want

to make $50 a day but you're chasing

these monetary goals because that's

what's going to help you quit your job

or quit your 95 to focus all on trading

but what you need to understand and what

every profitable Trader understands is

focusing on those monetary results is

only going to keep you from being a

profitable Trader because a profitable

Trader focuses on the process-based

results your goal should be to become

more consistent in trading it should be

to manage your risk better it should be

to actually understand technical

analysis in a much more deeper

understanding than you have right now

the more you focus on the process-based

goals you'll notice that your monetary

goals that you did have you will start

achieving them because you're getting

better at trading you're getting better

at the process of actually getting to

your outcome so when people say the

cliche enjoy the process what that means

is have process-based goals and try to

reach them because every time you reach

a process-based goal you will get a dop

and bean feeling similar to if you were

chasing that monetary goal but now

because your mindset has shifted into a

process-based mechanical Trader you will

see that you actually get much more

enjoyment focusing on the process rather

than focusing on the outcome and the day

that you see that happen there will be a

shift in your trading where you're going

to see a lot more consistency and a lot

more profitability much faster so now

with that being said now I want to talk

about some steps that you can Implement

today to actually see a little bit more

consistency in your trading and what you

should focus on as a new Trader so

number one what stock should you trade

this is a question I get quite often

from new Traders and the main idea

behind this is you want to focus on

stocks that are already trending this

increases the probability of the trade

winning so the reason I personally focus

on momentum trading and stocks that are

already trending is because even if I

mess up the entry if I enter a little

bit too early or if I enter a little bit

too late that's still fine because if

the stock is trending on the higher time

frame or in general just trending on

even the lower time frame if we have

clear and defined Market structure with

the stock trending I can have my entries

be a little bit late or a little bit

early and I know I'm still going to win

that trade why because I know that the

market favors me I want you to think

about it like an ocean the ocean has

waves imagine you're trying to fight

those waves it's going to be much harder

for you to get to the other side but if

you're swimming with the waves in your

direction then you're going to get to

the other side or your desired

destination much faster similar with

trading if the market is trending then

the wave is in your favor therefore the

wave is going to carry you to your

destination however if you're trying to

fight the trend so if it's in an uptrend

and you're trying to short the stock

then of course the market is not going

to favor you and it's going to be a much

harder trade so four things you should

focus on when you're looking at what

stock to trade every morning is a is a

stock gapping up B does a stock have a

news event C is a volume higher or lower

than average and D does the higher time

frame look ready to go and we're going

to talk a little bit more about that as

well so if the stock is gapping up or

gapping down this shows that the market

direction is very strong because buyers

brought the stock up before it could

even open therefore buyers most likely

want to continue the direction that the

stock is trading in here we can see a

breakaway Gap and what this implies is

the stock broke up right so this is a

gap that the stock broke up from and

therefore buyers were much more in

control and here we actually left orders

of unfilled liquidity so as we can see

here the stock actually retraced and

retested this gap for an impulsive move

to the upside so if you see a gap up or

gap down on the markets most likely the

stock will retrace into that level for

an impulsive move in the direction that

it was already heading the reason I want

you to look for Gap up or Gap Downs on

stocks is because it shows that the

market is trending and therefore the

stock will be in favor of the direction

that you want to trade that stock so if

you see a gap up for example and if

you're able to combine the Gap up with

let's say the previous high of day or

low of day strategy that's going to be a

very effective and Powerful setup for

that day here we can see a little bit

more of an illustration of that

Breakaway Gap so this is the previous

day we closed the previous day high

right here we open up the next day in

the Breakaway Gap we can see here that

the stock has a clear uptrend as well

then we retest and where do we retest we

retest this previous day high level

which is already a setup within our

system but we have a gap up as well so

it's a little bit more conf fluence and

this is a stock we should be focusing on

because the trend is going to the upside

and as we can see if we enter this

retest this would have been a very

profitable trade and a very impulsive

move to the upside number two when

you're looking for a stock to trade make

sure you know when it has a news event

the reason this is is because when a

stock has a news event that is

individual to that one stock and not the

industry or the sector of the stock

itself then most likely that stock is

going to have relative strength or

weakness on the day so as we you can see

here this is a news event that happened

we can see where the news event happened

and the company is white and of course

the sector is green with this stock we

can see that this was actually affected

by news as a whole sector so for this

company the sector that it's in or the

industry that it's in it had news

impacting the whole sector therefore as

a sector goes down the company goes down

with it however if the company has

individual news as we can see here the

news event occurs but this is only for

the one company that we are trading for

example example let's just say Tesla

right let's say Tesla has bad earnings

well now if the tech Market or the EV

Market continues to go up well Tesla's

going to continue to go down why because

it had an individual news event

correlated to it and it was a negative

news event therefore the stock or the

company will go down and show relative

weakness now how can we use that to our

favor well what this shows us is the

entry does not have to be perfect so if

we can understand if it is a positive or

negative news event even if the overall

sector is going down and let's use Tesla

one more time and let's say Tesla is

going up well we can look at Tesla in

terms of the news event and see that it

has relative strength compared to the

rest of the market and therefore that is

a name that we could trade based off of

the news event with our break and retest

setup because we know that stock has

relative strength even with the industry

or the sector going down Tesla is going

up and therefore that is a stock you

want to focus on because buyers believe

that the price of the stock should be

higher based B off of the news event

that occurred now after this volume so

if a stock has higher or lower volume

what does that indicate well that

indicates that more buyers or sellers

are either selling or buying that stock

how does a stock move well a stock only

moves if somebody else thinks that the

stock should be priced higher or lower

so when a stock is in consolidation that

means both buyers and sellers believe

that the stock is at a fair price so

when you see a stock going up or when

you see a stock going down that means

that somebody else or big hedge funds

believe that the stock is not at fair

price or fair value so when we do see

volume increasing on a stock and we see

the stock having an impulsive move to

the upside that means that buyers

believe that the stock is not fairly

priced and therefore the price of the

stock should be higher so when you see

these volume spikes as we can see here

this volume spiked right here and on

this day we did have a little bit of a

gap up but this was more of an

accumulation phase for this stock and we

can see that this stock after this

accumulation we see the volume slow down

a little bit then a big candle right

here even though the range of this

candle did not move too much and then we

can see lower volume and then the stock

absolutely spikes or rips to the upside

right so the buyers that were here right

and as we can see this is of course a

very big candle these buyers were

rewarded for understanding that the

higher volume indicates that bigger

institutions want this stock to increase

in value so make sure when you're

looking at the stock you want to trade

is it trading average volume or is it

trading higher or lower than its volume

if it's trading higher volume than

average then most likely that means that

that stock will have a move to the

upside if the trend is also moving in

that direction and finally higher time

frame so on the higher time frame you

want to look for key levels or patterns

these levels and patterns will help you

have the lowest risk but also have the

highest reward some of the patterns that

I like the most personally is going to

be the bull flag pattern the bare flag

pattern and of course the rising wedge

or the falling wedge these are very very

similar but all these patterns really

mean is that the stock is moving to the

upside as we can see here the stock was

moving to the upside and then we were

just ranging or consolidating so if the

stock is ranging or consolidating after

a pushup what does that indicate well it

indicates that sellers are trying to

bring the stock down but buyers still

believe that the stock should go higher

and therefore we're just at a fair price

in the current moment but as that range

gets Tighter and Tighter it will most

likely break out in the direction that

it's already going and because it

already had a bullish Trend then it'll

continue in this direction and therefore

this is the lowest risk entry so you

want to look at those patterns only on

the higher time frame but then on the

lower time frame we want to trade once

again our break and retest setups now

that we talked about what stocks we

should focus on we need to talk about

how can we actually enter into the

trades for the lowest risk but the

highest reward so there's two main

things you need to understand when

you're looking to enter a trade and

number one is Market structure and

number two is price action so let's talk

about both of them now in terms of

Market structure I have full indepth 30

40-minute guides on exactly how to read

Market structure and how to better your

actual understanding of technical

analysis however the most simplified way

in an uptrend you have a low you create

a higher high you create a higher low

which means the low that we create here

is above this previous low and then we

need to create a higher high above the

previous high that we had right and this

continues the trend and of course for

the downtrend vice versa you have a high

you create a lower low lower high lower

low lower high and then of course a low

now for me personally as a new Trader I

would focus on the uptrend and the

downtrend I would not focus on Sideways

or consolidation action and it's because

your win rate will be much higher if you

focus like I've talked about earlier on

the trending stocks for the day right

trending stocks is where you're going to

have the highest win rate if you focus

on stocks that have consolidation most

likely these stocks are going to have

lower volume as well and therefore if

not enough institutions are buying and

selling these stocks well most likely

what's going to happen is the stock will

not have significant breakouts and

because of that you're just going to sit

in this choppy period and it won't hit

your profit Target or your stop loss and

if you've ever been in a trade where it

looks like a really good trade but then

it just doesn't move and it moves very

very slowly and just consolidates most

likely you just chose a stock that is

consolidating on the higher time frame

with lower volume so therefore as a new

Trader I would focus on the uptrend and

the downtrend now in terms of price

action I also have full in-depth guides

on this as well on my channel but I

would focus mainly on price action near

key levels this is very important focus

on price action only near levels of

support and resistance most of the other

times where it's not near a key level

it's just noise and what's going to

happen is let's say you enter a bullish

trade and it's an A+ setup and it's

working out really well well you're

going to see one red candle and all of a

sudden you're going to stop yourself out

because think oh this may not work

because I know how to read price action

but if it's not near a key level that

price action is noise so just understand

that only read price action near key

levels and in between key levels just

let the trades probabilities play out so

for me personally my favorite price

action candles if I'm looking to go long

on a position is of course if it's a

full green candle but most likely you're

not going to see too many of these near

key levels what you're going to see is

this candle right here which is the

hammer stick candle this is my personal

favorite candle is the hammer stick

candle or I'll even enter in on a normal

bullish candle as well a candle that I

wouldn't like to enter in on if I'm

going long on a position is of course

this candle right here which is

basically a shooting star candle right

because what happened on this candle

right here is we open up on the candle

down here the candle moved all the way

to the upside creating this Wick and

once we got to this high of this candle

sellers brought it all the way down and

we closed near the low of that candle

therefore it shows that sellers are more

in control because the wick you always

want to look at the wick the wick will

tell you the story of what happened

behind the candle but the body is what

actually matters now for the be side if

the candle is fully bearish of course I

would enter into that as well but once

again vice versa to the bullish side

right I would like this candle the most

this is the inverted shooting star

candle which is the least bullish candle

here is the second most bearish candle

here and therefore that's why I like to

enter into this for a short position and

then of course I would not want to enter

into a hammer stick candle when I'm

trying to go short on a position

so once again my favorite setup in terms

of price action we can see the stock

coming down after a move up and then we

can see that we put in a strong Hammer

stick candle we see this Hammer stick

candle we see that if this is near a key

level this is the most important part if

you are near a key level when this is

happening then you can enter into a long

position here by simply having your stop

loss below this candle and you can

Target out these previous highs right

here right and as we can see this trade

would move nicely to that direction now

another example of price action we can

see right here right so this is going to

be the pre-market High strategy right so

we can see we marked out pre-market high

right here we can see that we had an

impulsive move with strong displacement

and then when we retest this is the

pre-market High retest we see a hammer

stick candle forming so what do we do

well we enter in on this Hammer stick

candle right here and we look for our

profit Target which is going to be the

previous high of day and as we can see

our stop loss in this scenario is simply

going to be the Candlestick that br

broke out as we can see this is the

Candlestick that broke out of the

pre-market high so we put our stop loss

right below that impulsive candle that

broke out and as we can see this trade

worked out extremely well simply because

we understand that the market structur

is to the upside after we broke out of

the pre-market high and we can see that

this is a higher low right on top of a

strong price action candle with our

pre-market high and low strategy right

so now you can see a little bit more

confluences on how I enter into the

trade so so far I've talked about why

Trad fail I've talked about what stocks

to trade and I've talked about how to

actually enter the trade if you have

gotten value so far make sure to leave a

like on this video but we are still not

done we still have the most important

Concepts to cover so let's continue with

one of the main questions that I get

from New Traders and that is how would I

grow my trading account this is a

question I get all the time Traders are

very very curious how they should grow

their trading account and the classic

advice that you most likely receive is

risk 1% of your capital I see this

advice everywhere on the internet if I

go on Instagram I see this advice if I

go on YouTube I see this advice and in

my opinion this is wrong if you actually

want to grow your account and we'll talk

about the reason why I think this is

wrong but before I talk about growing

your account you need to understand one

very important thing and that is that

you need to size low in the beginning

when you are first starting out and

you're learning how to trade if you're

watching this video it most likely means

that you haven't seen consistency just

yet and therefore this applies to you

you need to start with small size I know

you want to make $1,000 I know you want

to make $5,000 in a day right like I

know I've been there myself as well but

what you need to understand is the more

you can delay that short-term

gratification of making $1,000 in a day

is the better result you will get in the

long term because you're going to lose

less money therefore whenever students

ask ask me in terms of option contracts

or even stocks how much they should

enter in with I always tell them one or

three contracts when we're looking at

option contracts and when we're looking

at other instruments it really depends

on how expensive the instrument is as

well however you will lose money

therefore the less money you lose the

better so I want you to only focus on

one to three contracts you won't make a

th000 5,000 $10,000 a day with one to

three contracts you see consistency you

will get to those goals so much faster

and with losing much less money an

example I usually give students is

imagine you and your friend are going to

the exact same college now in this

college you're going to the same program

you're going to the same dorm which

means you're living together and you're

going to have the exact same experience

as your friend so you and your friends

same College same program everything is

the exact same however the college

tuition charges him $5,000 for the year

and they charge you $110,000 for the

exact same experience the lessons and

the overall college experience would you

find that fair most likely you're going

to answer no why because why should you

pay $5,000 more than your friend when

you're getting the exact same experience

and it's the exact same thing in trading

why would you want to lose 10 20 or

$30,000 of this hard-earned money that

you saved up when you can only lose

$55,000 or even $1,000 or even less than

that to completely learn how to trade

and become consistent and size up after

you have became consistent so therefore

I really want you to think about that

example and this analogy I think it'll

help you guys in the long term but in

the beginning before I talk about how I

would personally grow my account you

need to understand before you see

consistency you need to size extremely

low just to learn how to trade now in

terms of growing a trading account the

fastest way to grow your account is to

slowly increase your risk this is how

you actually grow your account so as we

can see here with a $5,000 account if

you're able to make 5% weekly and

compound that account then of course

that's how you're going to make the most

money so the main thing you need to

focus on is in the beginning it'll still

not be the craziest account gains you're

not going to go from $55,000 to $500,000

overnight but with5 $5,000 what you can

do over a whole year you'll see growth

so in terms of $5,000 we can see the

first month we would make

$445 182 now this isn't anything too big

but it is very achievable for us now the

next month we would look at

$1,344 and as we can see these numbers

slowly increase over time and by the

time we're done next year so in one year

from the $5,000 that you initially

started with that 5% weekly goal you

would be looking at making

$11,000 per month right so now all of a

sudden that $5,000 that you initially

had you're making

$1,000 if you're able to Compound on the

$5,000 now for me personally I think 5%

a week is pretty aggressive however I

think it is possible to make 5% a week

you guys saw last month I made 33% on my

account on a $200,000 account so 5% on

$5,000 is possible however you do need

to see consistency as a Trader to get to

this level you can do it but you're

going to have to build on your good

trading habits and stay with that small

consistent size first and once you see

consistency then you can come in with a

$5,000 $10,000 account have a percentage

weekly Outlook and then based off of

that you would see these type of results

but the only way to grow a trading

account is not by risking that 1% that

everyone tells you but it is to actually

put on risk when you see your A+ setups

in a good market so for example if you

are trending on the higher time frame

and the individual stocks that you trade

on a daily basis the actual setup is

working extremely well and the market is

just hot in those times you need to

actually start sizing up if and only if

you're consistent that's what I do

whenever I see that the market is

trending and we have a very clear and

easier Market to trade I will size up

and when I size up in that market those

are the one to two weeks that I need the

whole year to make the majority of my

game and then for the rest of the year I

can just go on autopilot and just kind

of chill mode where I can just trade

whenever I see an A+ setup occur but you

will get periods of time in the year

where you need to know that this is your

go mode and this is when you need to

focus on actually increasing your size

to see those compounded gains or see

that p&l chart that you see online where

it kind of starts off slow and then just

has an exponential growth to the upside

now one quote you may have heard in your

trading Journey so far is keep your

losers small and your winner Big this is

something that basically every single

Trader says and it is a very important

thing to do but no one actually talks

about how you can keep your losers small

and your winners Big this is very

general advice and very basic advice so

now I want to actually go into depth on

what you can actually do to keep your

losers small and your winners Big so my

main tips for consistency for you to

keep your losers small and your winners

big is number one have a defined stop

dollar amount for the day so what you

may have noticed is when you're winning

as a Trader maybe you're having small

green days you have a $50 day a $20 day

a $30 day a $40 day and you're

consistently seeing small green days

what's going to happen is one day you're

not going to take a winning trade and

you're going to take a losing trade and

you may only lose $ 20 $30 but because

you have that red day in your head

you're thinking I need to make a Green

Day I need to make my red day a Green

Day why because I've had small green

days and I don't want to lose my

consistency so what you're going to do

is you're going to take another trade

another trade and another trade and most

likely what happens is on the days that

you had those small green days it was

trending markets it was easy markets to

trade but the one day you shouldn't

trade literally the one day you

shouldn't trade because it's a choppy

Market you're going to lose the most

amount of money and take the most amount

of Trades and because of that on a day

that you could have had a simple $20

stop day you ended up losing 400 $500 or

even

$1,000 and what happens is you just

wiped out your two or 3 weeks of

consistency in one day and now all of a

sudden you are back to being r on the

month so what I recommend is have a

defined stop loss for a dollar value per

day right so that could be $50 $100 $200

that really depends on you but look at

how your green days are right so in

terms of consistency look at how big

your green days are are you making $50

$100 $200 on average right you need to

see on average how much you make per

Green Day and based off of that your red

day should be that or less so your red

day dollar amount for your stop loss

should be less than the average Green

Day and this makes sense as well because

if you're using a 2:1 ratio which I like

to use for risk to reward right a two R

meaning if I'm risking $100 and making

$200 that means if your red day stop

dollar value is the average as your

green day that gives you still two

trades to take that day because

technically if you're doing a 2 to1 risk

reward ratio your average Green Day

should be $200 whereas your average

loser would be $100 and therefore you

could take technically two trades right

so it all kind of aligns together but

make sure you have a defined dollar

value for the day where you absolutely

stop trading no matter what number two

know how many trades you can take per

day what happened to me as a new Trader

is I would take one trade and it would

be a winning trade it would be an A+

trade but then I wanted to take more

trades why because I wanted to make more

money therefore I took two trades three

trades four trades five trades and all

of a sudden I went from taking that one

A+ quality trade to 20 trades and now

I'm back to being read on the day so

have a defined rule on exactly how many

trades you can take per day for me

personally I only take maximum three

trades per day however if you've been

following me on Instagram or Twitter or

a student of mine in The Mastermind or

accelerator program where I trade live

every single day you guys know I only

take one trade per day for the last 4

months on average I've only taken one A+

quality trade per day and that's what's

helped me had these really good solid

months for the last four to 5 months

right so have a defined amount of Trades

that you can take per day number three

don't have a dollar goal per day as we

talked about earlier it is important to

have a stop dollar value per day but do

not have a dollar goal per day why this

caps out your success this caps out your

profitability now let's say the trade is

working in your favor and it makes $200

and your goal per day is $200

technically you have to leave the full

trade even if it didn't hit your profit

Target because you hit your dollar value

and this caps out your gains and that's

something you don't want to do so don't

have a goal of dollar value per day but

rather just trade the chart trade the

technicals on the chart that is very

important as long as you still have that

2 to1 risk reward ratio at a minimum or

if you have a different strategy then of

course you can have different risk

rewards as well having a defined dollar

goal per day what I've seen in my

personal experience just caps out

Traders rather than helping them so in

my personal opinion don't have a dollar

goal per day and finally number four

make sure you take time off when you're

learning how to trade you're going

through a lot of emotions you have

excitement you have fear you're also

going through a bunch of different

battles in your head so it is important

to just take time off of the market

sometimes right so on the weekends have

some time off to yourself and your

family and just come back with a brand

new and fresh mindset for the next

Monday right because I feel like a lot

of Traders they just lock themselves in

a room and they try to cram as much

information as possible in their head

but what happens is first they're not

going to retain any of that information

and B if they're in a losing streak

they're most likely going to lose even

more because they're not thinking

straight their head is so focused on

winning that they simply cannot see the

mistakes that they're making so when you

take some time off and come back with

the fresh mindset you'll be able to see

the exact mistakes that you're making

and be able to fix them for the future

so make sure you're actually taking time

off now these are the four main tips

that I personally think you'll see much

more consistency in your trading but

you'll also be able to not have those

big red days anymore and your green days

will outweigh your red days most likely

if you actually follow these tips now

following that you need to understand

your data is everything as a Trader your

data is the most valuable thing you have

because this is what's going to create

your Edge this is what's going to help

you learn everything about yourself and

your trading so in terms of data you

need to journal your trades every single

day as a new Trader this is one of the

most important things for you because

what this will show you is number one

what are you doing wrong in your trades

that you may not have noticed in real

time right because when we're trading

there's a lot of different emotions

going on in your head especially as a

new Trader a lot of different emotions

you're trying to focus on where to enter

you're looking at the price action

you're trying to combine all this

information that you've learned right

into the markets in real time so your

head's not thinking as fast on the

mistakes that you're making therefore

when you're able to sit back and reflect

on what you did in real time it'll show

you your mistakes so everything that you

did wrong and it'll also number two show

you your strengths what did you do right

so you may have entered an A+ trade but

you may have sold out too early so what

does that show you it shows you that

your strength is that you're able to

identify A+ setups and execute in real

time but mistake is that you weren't

able to hold to your profit Target and

therefore now you can focus on the

mistake how can you fix the mistake you

can fix the mistake by maybe back

testing or you can fix the mistake of

not holding to your profit Target by

understanding your emotions a little bit

more learn about yourself and your

psychology a little bit more

understanding your mistakes and

strengths through your journaling will

take you really really far as a Trader

number three over a long period of time

you'll see Market Cycles so for me I

have years of data like so many years of

just Excel spreadsheets of data that

nobody else could probably understand

but me because it's just so random but

it all makes sense in my head but what I

can see is different Market Cycles it

helps me identify now when I should be

more aggressive with my size or more

conservative with my size so in terms of

Market Cycles when you have your data

over a long period of time we're talking

about many years 3 four 5 years what

you're going to notice is the market

comes in Cycles you have your bull

market you have your bare market and

then you obviously have the

consolidation Market as well well right

so if you're able to see that when

you're journaling your trades every

single day you'll see that oh for the

last week the market I've been losing a

lot of my trades why and then you're

going to look at the chart and you're

going to see oh you're actually trending

sideways on the higher time frame then

you can look back at your data that you

had maybe a year ago or two years ago

when the last time we were trending

sideways was and you'll notice that yeah

in these weeks I usually lose money and

therefore maybe this time because based

off the historical data I have maybe I

should just take a break from Trading

one or two weeks maybe go on vacation do

something that doesn't involve the

charts because I know historically based

off of my data that this is not a good

time to trade and then vice versa when

it's a bullish market and you're like oh

I'm making a lot of money in the last

one or two weeks you go back to your

data and you're like yeah usually when

this happens I have one or two months of

really solid trading and that's when you

want to focus on pushing in your trading

and sizing more aggressively right so

that data will tell you everything you

need to know about the market Cycles so

make sure you're journaling your trades

every single day number four notice

discrepancies in your strategy so what

happens is based off of the market

Cycles like I said sometimes you have to

adapt your strategy so with my system

the break and retest maybe in one market

the pre-market high and low strategy

works really really well and in other

markets the 5 minute opening range works

really well well based off of that I

know these small discrepancies and

whenever I'm trading and I'm journaling

my trades afterwards I can see oh this

is a market where I should focus on my

premarket strategy or this is a market I

should focus on my 5-minute opening

range strategy so knowing when to focus

on which setup is a very crucial aspect

of trading and you will see that much

more clearly and the discrepancies

within your trading by journaling your

trades make sure every single day you

are journaling every trade that you took

you're journaling the emotions you're

journaling the market sentiment and over

a long period of time you'll be able to

see how your trading improves

but most importantly you'll be able to

see thousands of Trades of data so as a

new Trader I just gave you the full road

map to profitability is it simple Yes is

it easy no I never said that this was

easy however using these simple steps

you should be able to get to a position

where you're seeing more consistency in

your trades now with this being said if

you're able to follow this road map

trading success is possible for you you

are not alone in your journey here you

can see a real trading success story so

this is Stone he's one of the members in

the Mastermind and he said started June

1st look at what you've done to help me

thank you Tony must keep it simple and

slowly keep following the rules so you

can see that this is a one Monon

difference on his account you can see he

was losing much more he had a $700 red

day he was just losing much more and his

green trades were much smaller than

overall his red days right $400 red day

$480 red day but now in one month you

can see this difference right you can

see that he's sizing much smaller now

because he understands he should only be

looking at 1 to three contracts but you

can also see at the same time look at

his green days $200 $300 and his red

days two red days only for the whole

month and it was a $26 red day and an

$87 red day which is the smallest red

days compared to his previous month and

here we have another student in Neato

you can of course read what he said but

he made

$5,000 in one single day and he's

consistently been able to make these

type of profits and of course here we

have Paul he showed his one week of

trading a plus setups only and you can

see he made $14,000 on one account and

$9,000 on the other account so based off

of his two accounts he made a little bit

over

$25,000 in one week now the reason I'm

showing you this is to help you

understand that it is possible to have

real trading success but you need to

focus on the process of trading and have

those process Focus goals rather than

mon goals and you can see results like

this but trading is a very long-term

game it's not a get-rich quick type of

business it will take you years to get

to this type of level but with the right

mindset work ethic and the road map that

I gave you in this video I have no doubt

that you'll be able to see real trading

success so with that being said I hope

you guys got some value from this video

I try to eliminate all the fluff and

give you steps that you can actually

Implement today to become a profitable

Trader and of course if you like the

simplified trading concept make sure to

subscribe to the channel leave a like on

this video and if you have any questions

put them in the comments down below and

I will see you guys next week with the

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