The Truth About Day Trading As A Profession
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- Опубликовано: 6 июл 2024
- So you want to be a day trader... well in this video I discuss what it's like to day trade as a profession.
You can also connect with me on:
Instagram: @jamesrichyoung
Disclaimer: All information presented in this video and channel is for educational purposes only. Nothing is intended to be financial advice.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Katherine Flores.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Katherine Flores too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
Well done! Love how you structured this one.
Nice content!
As an intending trader, realizing that nothing even luck can be compared to experience coupled with expertise hence lucrative outcomes! I believe that if you really want to be profitable trading go with a regulated pro trader for assistance …
If you treat the market like a casino, then the market will treat you like a gambler! Trading is a serious business so go at it smartly especially rookies...
Wise words! I agree with you..
Just had my 4th profitable month under guidance of Noud Mikan, a certified FCA pro trader .. He manages risk and trades on my behalf in the fx and stocks exchange market; And I’m earning quite well on my investments…
Honestly I'm still confused... I don't know what to do to get results. And I try to do way too many things. I probably tried all the trading styles out there yet I keep incurring loss. Forex, stocks and options are bare tough
@@GlengoolieBlu I have seen numerous Noud Mikan recommendations on multiple forums, what's he really about?
He is a guru and as well a certified IA, I rely on his guidance and experience to make investing easier and beneficial for me. And on the plus side side it affords me time. Time with my family and as well my job. Good man👍🏻
Well done mate. Great video
Just subbed....thanks for the honesty, and lack of hyperbole.
Thanks Rav 🙏
Hi, Very interesting Channel and videos! Good Job! May I ask where you learned day trading?
This is My favorite channel on trading. You keep it real without making trading seem intimidating
Wow that means a lot Donald, thank you!
@@jamesrichyoungme too man. I’ve binged watched your videos
Great video James🙏🏾🙏🏾.
Thanks as always Batman 🙏
Great Job, keep it up!
Great information!! 💯💯💯💯👊👊👊👊
Another good one!
Right on brother
Hey james, could you make a video about the tax specifics that come with trading? Or how to work with an advisor or capital gains tax professional
Thank you for the vid. do you know whats the best website to use for day trading that offers low fees? I live in Germany by the way.
Good video explaining trading. What applications and things i need to use to learn?
Great video, thank you for sharing)
👍
nice wall and ceiling paint!
Hi James, thanks for doing this. I am very curious to see the red days you have and share your experience dealing with it emotionally and the adjustment you took to overcome them. Hope to have a video on that soon 🙏
Je fais d'énormes profits sur mon investissement depuis que j'ai commencé à trader avec Mme Kate Charles, ses stratégies de trading sont de premier ordre
English
wow .. incroyable de voir d'autres qui échangent avec Mme Kate Charles, j'en suis actuellement à mon 5ème échange avec elle et mon portefeuille a énormément augmenté.
J'investis aussi avec Kate, elle facture une commission de 20% sur les bénéfices réalisés après chaque séance de trading, ce qui est juste par rapport aux efforts qu'elle a déployés pour réaliser d'énormes bénéfices
Ce n'est pas la première fois que j'entends parler de Mme Kate Charles et de ses exploits dans le monde du trading mais je ne sais pas comment la joindre
Vous devez être cohérent dans votre approche, le trading est toujours difficile mais Kate Charles est très bonne. Veuillez la joindre via sa page te le-gam
@ investwithkate
Glad I found your channel today...can't wait to watch more. Thanks for being real!
Thanks E Sully!
yes. like... i always trade on usmart in my free time. time is very important
Great video explaining a Day Trader! I've been trading for about 5 years now and you have nailed the explanation in the best way possible. This video has earned you a new subscriber. Keep up the great videos.
Thanks Gerardo!
You gave an awesome overview of trading as a business/profession. I quit my job in the summer of 2021 to do trading FT but I wasn't prepared for 2022 where we had a different market cycle. I lost plenty and had and still paying tuition to the market but along the journey I have learned so much from many of my mistakes and also learning about myself. Besides having the technical knowledge, TA and FA knowledge understanding human psychology and having the right mindset are just as important. As human, we are an emotional creature. Always trade with a plan with risk management put in place this will take out emotions out of the game. Stick with the plan and always journalize your trade results to see why certain trades didn't work out. Keep learning and also good to join a trading group to share ideas...not to follow a particular trade. Being your own boss comes with great responsibility but also comes with great rewards. I appreciate you making this video to share your trading journey James!
Where/how did you start?
I agree a thousand percent everyone should have their own thing or at least try
great video and videos.
Thanks Jack Luna and cheese!
it helps if your previous experience in jobs has to do with the idea of optimizing. cos thats what day trading is, optimising numbers until it fits the way YOU trade
Could you please share the trading group you’re in.
i want to know about your journey
wish you talked a bit about the tax side of things!
Such a great overview. Looking forward to checking out a any course you make!
Thanks Tech!
do you have a good course for beginners??
Do you have a training course? If you dont, what would you charge coach me personally?
Do you trade in an LLC?
so how much % do you pay yourself from your trading account?
facts!
I see so many Trader Influencers leave a link to their online trading course or group, is that something worth investing in?
The spiderman suit has gotta give you some enhanced spidey sense when reading the market 🤣
I wish it was that easy 😂
Very nice break down. thank you!
👍
very good video sir love from india
Thanks Nitesh!
Great video ! What do you do as a daily schedule as a market prep ?
Thanks Perry, I put together a gaps list every morning in the pre market. I made a vid on it if you want to check it out!
for me, it's hard to walk away from market
Glad I found your channel and your journey. I'm interested in how you got to the point you are at right now.
I actually made a video on it! Check out my "How I became a profitable day trader" video
@@jamesrichyoung Thank you. I'll watch it right now.
What rule do you have in place that prevented future 10k losses?
Hey Junk Mail, taking stops and not averaging down. I make a video on it!
bro your setup is insane
Thanks curr1e k1cks!
Are you in LA?
Super explanation of what the lifestyle is and can become well done and new subscriber.
i love the unknown.
Hi James how can we join your trading room? Thank you.
Hey Mr. RPM, yes dm me on ig
Day trading can make or break you in a matter of seconds how do I know? I been there! It’s a marathon not a sprint
Bro! You are the real thing. You're onest about life and trading live, and telling truth how the world runs.
Continue this odyssey to your viewers. Thks bro
Thanks Goncalo! Will do 🙏
How can I learn day trading? im completely lost, i dont know where to start, im doing night job at gastation now, i have college 2 days a week. I get time in the morning 5 days a week. I am planning to do data science and/or day trading. need suggestion please !
Go to “the moving average” RUclips channel. The teaching is great and they have a great membership group to join for only $25 when you’re ready. Full courses, lessons etc
Do you recommend a trading type (stock, options, forex, etc) to get into first for someone who wants to get into this field?
Depends on what strategy you will use and how much time you have or are willing to be inside of trades. Stocks generally take longer to set up but also go on long bullish runs. The forex market imo is best for daytading since price is volatile and will go down and or up alot during the day, so both bearish & bullish plays possible. Just do some research on how you want to trade and you'll see fast what market fits the best. With forex you're also able to leverage your trades which can increase profits immensly
James I have invested about 4k in my learning...I consider myself a fast learner...Im familiar with high fast volume inflow..high short borrow rate and low short interest and float for a squeeze on news...Do you feel is better and more effective to wait for a consolidation on a runner while waiting for new highs to break on chart before you jump in for the next run with a stop loss at 3 to 5 percent loss on where you entered?? I've been researching for a year and I've realized in bull rally's these pay off more often then not. Your feedback could change my planning in 2023 along with my under valued life
I trade different from how you’re approaching it so I couldn’t say
@@jamesrichyoung Okay appreciate your time. Thank you
Great vid again! Waiting on your course.
Thanks boyb!
I been trading for 4 yrs, I would like to speak with you. Private is this possible? Thanks for the video
You can dm me on ig
great video and great information. I've been looking for a trading forum to join where I can discuss the market. which forum do you moderate? thanks for all your video and information
Thanks Atanas! Yes dm me on ig.
I am a guy from Ukraine who study and practice day trading in crypto, because I lost my business when war started. Thanks very much for your videos and a great portion of motivation I always get watching them! You are doing a great job!))
Sorry to hear Vladimir, I hope this leads to a much greater path of success for you. Wishing you the best and thank you for your kind words.
how long have you been a trader? thanks.
Hey Emery, I started trading June 2019
James can you do a video on "how i would do it over without a mentor"?
Will do Carnel!
@@jamesrichyoung You see this scammer on your videos?
Hello all speculators
Good trades to you and profitable deals !
A great explanation about the trader’s life! I like your tidy trading room. Thank you for the new content. I enjoyed it! I trade in Korea stock market. But your contents help me a lot in terms of psychology and motivations.
Thanks Matthew 🙏
IM startin this at 15
Good video, I’m doing it part time right now along with my main job. But I would like to make it full time one day when I have built enough capital by trading and have gotten the hang of it .
You got this bro
Great knowledge sir. Thankk you
how you deal with the boredom.
I love what I do so I rarely get bored of trading. There's definitely slow times but there's always things I can work on or learn outside of actually trading. And I can step away and do whatever if I need to.
What would you say is the best way to become a day trader??
Unfortunately this isn’t taught in school so really the only way is to learn from someone who has success in it, whether it’s through a course or training. Then it just takes implementing and refining.
@@jamesrichyoung Scammer seems to be trying to mess up your credibility. You may want to do a short video telling your viewers that you would not reach out to them through Whatsapp and what are your official social media platforms. Seen this happen to other content creators.
@@carnelforeman9719 Yes I was notified of a impersonator on ig and has been reported. But yes I should probably address it. Thanks for the heads up!
You're just splittin' facts like crazy
lmao I love the minus taxes parts
Thanks James! I'm looking at your videos and love this one as well. I'm thinking about getting into some open trading to get a feel of this. I plan to start soon so learning the terms and tips of this new adventure! Thanks again for these awesome vids!!!
Thanks Angry Grim! I plan on doing a lot more so stay tuned
Thank you for this. May I ask what room you're active in?
Thanks infinite! Yes dm me on ig
Thumbs up for the advice and spiderman suit haha
Lol thanks Roelof!
@@jamesrichyoung For real, i love it that you try to do what I guess you just like to do! PS: Is that trading room you are talking about still open to join? I am a naked trader and have a fairly simple strategy right now. Would love to connect with you and others that are trading and are more then open to learning your gap trading strategy.
bro did you ever have that problem in the beginning where your losses are bigger than your winners? i'm wondering how i can fix that, maybe tighter stop loss?
Check out my share sizing video.
Keep your stops losses tight calculate your RR (Risk to Reward)
Haha, man. I am a CTO, day trader in the evenings and even have my own company. Your work can also be your hobby, if your a workaholic 😅
B
are you ever concerned about losing your edge if more people trade your strategy?
Hey Cade yes that can be a concern but it's one thing to know a strategy, it's another how you execute it. There's tons of strategies out there both free and paid, and it hasn't been an issue for me.
@ENTWAZE right, because we’ll all manage the trade differently
@@jamesrichyoungtrading is 10% technical and 90% psychological. It's a mind game.
it's my second year in the fx market my fourth Trading account, has been investing my time, and emotions, and the last thing comes to money (as a uni student in Sydney /came from a developing county like (Burma/Myanmar) tbh at least it's tough for me ). going through up and down both financially and mentally_ learned lessons really hard way after losing AUD15k plus "even though been working in local Trading for about a year". Your video really inspired me, i am an introvert too, love the saying " Market is the greatest video game in the world". been stopping it for a couple of months and now I'm back as a new version of myself.
Dude, I envy you, day trading and LoL?! Starting my journey soon
Thanks burak and good luck with your journey!
@@jamesrichyoung thank you 🙏
Everything seems fine and dandy what you say .. BUT .. lets talk about the elephant in the room ! ............ the Spiderman suit! 😁 j/k bro i like what you do for us in your videos. 👍👍👍
😂
How long did it take to get your trader tax status?
Any helpful resource to obtain one. Thanks for all you do! Arigato...
Search for accountants in your area and take up a consultation with them. They'll tell you everything you need to do to create a LLC and all that. For the taxes themselves the cost will come down to about 100 dollars a month in a first world country on average.
had to use the spidey suit to write it off XD huh?
lol, the 'rip uncle Ben'
Yes sir yes sir hardest part is holding yourself accountable
👍
Are you willing to mentor for money
Hey Unique I do plan on doing mentoring in the future but don't have anything right now.
A little bit off topic, but I love your house. You should do another finished home tour!
Thanks screenlocal! Yes it's still not finished... but once it is I'll definitely do a full house tour!
Can you share your experience for how you prepare when starting to day trade, like what book you read, what info you took and learned thanks
Hey James, really love your content. I was wondering if you could share with us the trading group you are a part of.
Thanks Yushen! Dm me on ig
@@jamesrichyoung I just did
Choose A to leap to B.
I like that 👍
The video really inspired me. I just subscribed! I’m Trading (profitably🙏🏻) part time and planning to scale up and make it full time in the near future. The absolute freedom to choose what to do with your time thanks to trading is the best thing in the world
Thanks Yuval! I wish you all the best in your journey
If this career is real why there is no university education in this?
Here because of brics
Minus Taxes
Under 6 months is insane
Really appreciate for your take the time making video about your experience James
Thanks for taking the time to watch it!
Can you do a video on how you track and manage trades for tax reporting? Do the trade platforms provide reports that are easily printed for tax reporting?
Hey Mike, yes the brokerages sends out everything needed to give to your cpa after the year ends.
Im glad im not the only one who looked at day trading as a video game where I get paid. And with video games, I get pretty competitive.
This guy makes like 10k a DAY. He made 5M USD a year. He wants to avoid competition so trying to discourage people.
What I don't like is people who make lots of money become proud, they start using satans language, (cursing),... so rather thank Jesus Christ, serve God, live Holy and make it to heaven.
GOD loves you enough to send HIS only SON to save you and if you repent and turn from your sins and be baptized in THE NAME OF THE FATHER, THE SON and THE HOLY SPIRIT. ((if you haven't )
Its our secret, you have a urinal next to your desk, am I right? The cost to learn is there too.
this approach is absurd. just buy $SPY and go live your life. day trading doesn't pay off.