9 Biggest Lies About Day Trading...
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- Опубликовано: 27 май 2024
- #daytrading #entrepreneur #trading
I breakdown 9 myths about Day Trading.
Follow my socials:
- Instagram: / umarashraf
- Twitter: / umarashraf
I use TradeZella to track and journal my trades.
www.tradezella.com/?via=umar
Chapters:
0:00 Intro
0:11 Myth 1 Trading Everyday
0:46 Myth 2 Need A lot of Money to start trading
1:34 Myth 3 Holy grail strategy
2:35 Myth 4 You need indicators
3:39 Myth 5 More Screens
4:38 Myth 6 Need a College Degree
5:14 Myth 7 Need More Money to make money
6:24 Myth 8 Trading is easy
7:53 Myth 9 What goes down will go up
DISCLAIMER I am not a financial advisor and anything that I say on this RUclips channel should not be seen as financial advice. I am only sharing my biased opinion based off of speculation and my personal experience. You should always understand that with investing there is always risk. You should always do your own research before making any investment.
#daytrading #trading #daytrader
What are the craziest myths you've heard about trading? Comment down below!
ZERO to HERO overnight.
NO.
Algo buy/sell signals
You start trading and within a few months you buy a Lamborghini and trade for less than 1 hour a day with a laptop sitting on the beach.
Not enough people including yourself talk about just how much mental game is in trading. I’ve been amazingly good at understanding the movements of the market but execution is always off and I always get stopped out. Whether options or futures, the mental game is draining
@@joeyc1326 Are you talking about Oliver...
Don’t trade to get rich. Trade to by yourself time and freedom. Fall in love with the independence of working from anywhere on your schedule and for yourself. Master your craft and let the money come to you. Find the beauty in it
Absolutely positive
Well said 💕
Absolutely, we'll said❤
Absolutely positive explanation
facts🤝🏾
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio..!
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
very true, I started investing before the pandemic and that same year I pulled a profit of about $600k with no prior investing experience, basically all I was doing was seeking guidance to make a from a financial-advisorr, you can be passively involved with the aid of a professional…!
wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
Gretchen Marie Hostetter
That’s my licensed Financial advisor you can easily look her up, Thank me later!
Thanks, I merely looked her up on Google and was highly impressed by her credentials; I got in touch with her because I need all the help I can get. I just set up a phone call.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
Google his name:;
Yuval ERic Brokman:
search his full name:
you will find him on the internet::
Thanks bud for keepin us financially Educated! Regardless of how bad it gets on the economy, I still make over $13,000 every single week...
The crypto market has been unfavorable for months and i keep losing my money selling off during dips, i'm very scared of holding right now. how do you guys still make so much?
Google his name::
Yuval Eric Brokman::
search his full name::
you will find him on the internet:
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
That’s crazy, I’m just doing everything wrong with my portfolio.
The US-Stock Mrkt had been on it’s longest bull-run in history, so the mass hysteria and panic is relatable considering we’re not accustomed to such troubled mrkts, but there are avenues lurking around if you know where to look. My wife and I are retiring this year with over $7,000,000 in tax deferred investments. up until 3 years ago we were 100% in the S&P. During bear markets we had a perfect plan. We got an investment manager in our corner and didn’t look at our portfolio for nearly a year.
Same here, 75% of my portfolio is in the red and I really don’t know how long I can stomach the losses. I’m beginning to reach a breaking point.
Patience patience patience. It's a cycle.... a sucky point in the cycle, but a cycle nonetheless.
That's impressive! I could really use the expertise of the advisor, my portfolio has been stagnant.... Who’s the person guiding you?
Thank you so much Umar. Nice and good suggestions for all confused and newbies.
Great video, you said it all ! thanks a lot for this
I follow you for over. 3-5 years and your video quality had improved a lot👀
You nailed it buddy that's why I follow your channel keep it up
Loving the consistency🙏
I’ve been trading for nearly 3 years. Still non profitable . I thought I was when I made a big trade recently but then blew my account. I trust that you’ll help me in my journey now that I’ve subscribed to your account. Keep it up my brother !!
Thanks for being so honest Umar👌
Hi Umar, thank you for the amazing content always. I am new to this field, and the information from all your videos is helping, alerting, and motivating me. I hope I would be a good trader one day :). Thank you.
i've watched lots of different videos ever since I wanted to start trading. But you're videos bro are the best. I think I will watch all your 246 videos as an inspiration.
Thanks for this!
Umer you're a gem when it comes to busting trading myths
You are so right ......nice one
Li feel your videos is pure and honest sir. Thank u for this content. I feel day trading is to trade against our will and emotions
Fabulous video, its in my trading plan already :)
Before accepting these truths costed me alot.. Though not recovered, thanks for putting it all in one. Respect sir
wait and hunt is the best strategy... Thank You... Good Video...
Great vid man🖤 Though I don't agree that 'when you trade your competing with the market'
fighting your demons in trading just hits hard bro!
Focusing on R multiple has significantly improved my trading. Looking at wins and lossess from a standpoint of how much I lost versus How much I was anticipating to gain is truly amazing. For example if I made $100 on a trade but I was risking $50 is a profitable system. New traders dont build or focus on risk management systems and look for holy grail technical systems. I highly suggest any new trader reading this to build a risk management system in congruent with your technical system.
Great learnings ,make vedo on how to enter and exit in a trade as a day trader also discuss how to put stop loss.
About 8: Trading is simple, but not easy. And, as you said, what makes trading super hard is our own emotions and mindset. The more fkd our mindset is, the harder trading is.
Good points, right on!
no bullshit just pure reall harsh truth thanks my man
well said. Please expose more
Trading is difficult. It’s a mental game more than it is your skillset. Once you crack day trading, it then becomes easy. But your emotions still fall into play. Once you have control of your emotions and STICK TO YOUR PLAN, only then you will get the results. But some losses always come.
You are never such a good trader not to take shitty trade blowing your account
Agreed. Made more than a quarter-mil in my first 5 months of trading. Banked 8 grand this morning in a half-hour. Lots of research and careful planning goes a long way.
I completely agree! Trading is 99% Psychological. Trading is one of the most difficult careers on the planet. Hats off to all the Traders out there.
Great Video!
Its the emotional part i struggle with. Ill never be successful until i can learn to be patient and conyrol my emotions. For me its the hardest part.
You said that the video relative to what a beginner should look for would pop up, but it didn't. I would like to watch it
This is the type of video to keep saved to watch often. Great vid.
I have been listening to Umar and truly he is worthy listening
Excellent as usual Umar. Thanks
use indicators with price action and not price action with indicators, so your interest of buying and selling should come from price action and then use an indicator as an extra confirmation and take a calculative position
totally agree with u on all the points except the monitors. u need at least 2 but 3 is the max.
34in ultrawide is perfect
3 Golden Rules for trading forex:
1. Trade size should be never more than 33% of your current funds.
2. Patience while trading, you decide when you enter the market, wait for your desired price, even if it takes weeks.
3.Dont day trade or short its more like a gambling, you buy cheap and keep it , trend takes long time to change, dont expect overnight profit. you sell when you see a decent profit
Dear
Thank you for the informative video's
Myth: Buy this course and it will teach you how to trade.
Great 👍 answer
Great video
Hi! Thanks for the video.
My hardest part was to don't give a fuck if I lose a trade.
Yes you are correct if you have lot of money put on a trade your returns will be bigger as compared to one that has 1000 dollars put to trade in absolute terms. But at the same time you should be aware that your losses will also be bigger if your trade goes against you. Hence first as each individual, know how much money if you loose on a trade is comfortable with you and then position your quantity size accordingly.
Best video iv seen so far 💪👊
Thanks for sharing....
thanks great video
Hi Umar, your video is fantastic. Thank you so much for this great video. I learnt a lot. I am trying to achieve trading success using scalping with indices (ES). I just want to know whether it is possible to get large returns consistently as a scalper? I am learning and training now about 6 months now. I just want a confirmation that I am in the right path. I want to know before it is too late. I found a strategy and I want to stick to it for sometime without changing like I used to do.
Thanks lots sir...
Thank you Umar!!! I have been trading since April, yes I'm going through hell, but I have also made money too. I still need support which is also hard to get. Some traders are not trust worthy, and I have found that out too. Thanks for your input!!
This is gold 💛
Keep up the content 🔥🔥 waiting daily for your releases
Not every indicator is lagging. Leading indicators do exist. For example the Central pivot range
I do not know what he is talking about, but I like him. He is telling you something you don't know it is good.
Excellent advice. Execute the trade when an opportunity is available. Needs to trade not gamble.
From the day I ever heard or saw anything online about trading , 5 years ago , you were the first successful young trader I ever saw and aspired to be like . Now forward to 5 years and still seeing you do your thing just tells me how much more of a work we got to put in regardless of being consistent now for a year . Thanks for being such a great motivation . Much love from Africa Cameroon .
Thank you Umar
Right. If trading is easy all of us trader's are now rich!
Great evening sir
❤ from Afghanistan.
All you said in this video is true, but each myth you're talking about need an hour explanation because a trader at least 2 year of experiences understand what you are talking about with their meat and boons but new trader get it just as nice tip and forget it until they see these.
Thank you bro
Thank you 👍
Hold on I must comment today may Allah bless you umar your vedios change my life in trading journey ❤
This is the real content for traiding everyone needs… “traiding is the hardest way to make easy money”
Hi, I'm new and I like watch your channel. I have question to all ... What app do you use ?
Great way to stick to each point and break them down and in a great pace. Thanks man
There’s most definitely a holy grail in trading its money management
broski spitting facts
I don’t see the video you suggested in the video to go take a look at for beginners and what to look for
great video
I’m compiling and picking stocks that I’d love to hold on to for a few years before retirement, do you think these stocks would do better over the years? I’d love to retire with at least $2million savings. Now you gotta rely on a pretty good diversification if you must stay green. Currently up 31% and being cautious. Still better deal than letting it sit in savings or checking earning near 5% interest
Thanks for debunking these myths! Totally agree with you.
I feel like the fact I have learned these 9 things through experience and before I watched this video I am heading in the right direction. Trading is also a very isolated and lonely lol
Umm thats not true, my traders friends is gathering some experience traders, and made a team trader. At first they only trade their own fund and analize different market. Then they find the most profitable trading setup and put the money together and get profit together.
After years they made fortune and make company together too.
@@sleepy_trading😮😮😮😮😮 good to know , good story
It's all about emotion depends on what position you are , red or blue
The only thing I disagree with is with the strategy. There is no secret strategy, but in order to be profitable you need to have an edge. You need to have a strategy that works for 'you'! That's what I believe.
One true thing I’ve heard ..patience pays!!!🎉
you can intraday trade everyday.
i do have days where i do little or nothing.
but i take an M15 set up and wait for it.
If it comes. i'm in. It usually comes.
If it doesn't. whatever.
We are not talking mega pips here. i average around 30. good days. hit 70. bad days hit 10.
I only use MAs. Support zones. and structure. i mess around with Fibs. Volume is huge. Do not underestimate what volume tells you.
This is not easy.
This is hard work.
The number of times i have no clue which way it will run is scary. this is why you set up for both ways with confirmation.
Informative
Absolutely agree with that, I trade with my mobile phone
Nice video
What do you think about order flow (Institutional trading way)
#4 Myths is great. It's requires proper knowledge
I love this ❤
I became profitable on my phone and laptop laptop running real time information and phone using limit orders. Turned 6.70 into 1400 in 5 days. There wasnt a secret other than a few pieces of luck and a strategy with belief in my strat.
Valuable contents
Begginers always think like myth
But trading is not cup of tea
To learn have to invest thousands up Thousands hours and mony onself.
Thank You
What makes trading difficult is your psychology. If you conquer that than trading is easy. Skillset is secondary
great video, her is one that makes me laugh, trading is gambling, its only gambling if you treat it like a casino
thanks umar
umar please advise which broker is the best - Egypt resident.
Ppl need to have mindset this is a business.
We buy and sell.
As business it have sometime profit, loss, break even.
And manage the transaction so make every trade profitable with minimum loss.
Like if u selling clothes if not trending anymore or out of mode, u need ro get rid of it as soon as posible sell it with discount with small profit or cut loss minimum, or break even.
Great thoughts!
Another common myth is "you can't go broke taking profits". This does not consider win/loss percentages and r-multiples. You can CERTAINLY go broke taking too little profit on winners and holding for large losses on losers.
Really true, before accepting that I'm not always to be right with the market made me loss really great and took just small profits when I sense a pullback
if indicators are lagging then so is price. indicators update the moment price is printed....
Hi umar, can you please propose a reading list?
Guys I just found the guy that talking truthfully.
Just because your not taking a daily trade doesn't mean your not studying the market daily.
The best takeaway
1) You need multiple monitors to become a good trader. Nah. A small laptop would do at the beginning. You create multiple windows, that's it.
2) You need a college degree to be a trader. Lol. Having an MBA or engineering degree and being successful in real life different things.
Please share how do you manage your risk and emotion during trading
set your cut loss and price targets and walk way. trust me on this bro. u cant capture all the profits, but always remember stop loss is more important than the profits. u can have 3 green trades but 1 trade without a stop loss to wipe out all your profits.
1 screen is enough!