Day Trading For A Living? IS IT POSSIBLE?

Day Trading For A Living? IS IT POSSIBLE?


day trading for a living isn’t possible
to day trade for a living gonna talk about it in this video so
stay tuned so if you want to learn more about day trading you want to learn more
about the stock market go ahead and subscribe this channel I’m gonna be
talking about the stock market day trading every single day if you’re a
longtime subscriber thanks for watching is it possible to day trade for living
let’s think about that so when I say a living does that mean how much money do
I need to make I need to make a million dollars a year $100,000 a year $20,000 a
year what’s my living how much money do I need to live and that’s kind of a hard
question that’s something you need to ask yourself you know what’s the kind of
the bare minimum and then kind of figure it out where are you when your day
trading career are you just now starting out are you just now learning about a
tree should I quit my job today to start day trading tomorrow if I quit my job
today can I start day trading tomorrow and
then make enough money to live on that’s a hard question really it’s a hard
question and I think the best way to go about it when you first start dating is
to not put the pressure on yourself do not put the pressure on yourself to live
off of day trading and people who I want to I want to make a real run at it I
really want to day trade for a living I think the best thing to do is figure out
ways that you can day trade but still make money doing other things so let’s
say you want a day trade and you’re like I want to really day trade I want to
make a big run at it but thing you think about is how much money does it take for
you to live what’s your income what’s your rent what’s your overall
bills for the month so let’s say you have trouble at first learning how to
day trade and you don’t earn a lot of money you put a lot of pressure on
yourself and normally what happens is you’re gonna blow up your account
you’re gonna put too much pressure on your account you’re gonna take too many
big risks and you’re gonna blow up your account and then you’re gonna be done so
you’re gonna lose that money that you’ve started out with and it’s gonna be
really hard to get it back and at that point you’re going to be really
discouraged it’s only been about a month you started learning how to day trade a
month ago and now you want to do it full-time and it’s not working out and
you feel discouraged you lost your money that’s your hard-earned money that you
made already think about that if you’re really day trading when you first start
out and you’re using real money and you lose it it’s very emotional to lose that
money so yeah I think about that and I think the big thing really is just to
focus on learning on a day trader first so find a job maybe you can do at night
maybe find a job that you know you’re working an afternoon
or kind of figure out some way you can make money to pay your bills to not keep
the pressure on yourself to be able to live off of only day trading is it
possible to turn day trading into a full-time career it is there’s no doubt
about it but it takes time you won’t want to do it right at first so you
won’t be able to quit your jobs a day and start day trading tomorrow when you
have no idea about the fundamentals of day trading the big thing to think about
is when you first start date trading just figure out how to pay your bills
keep the pressure off yourself so let’s say you have $100,000 and you put twenty
thousand dollars into your bank account for your bills you put twenty five
thousand dollars in your brokerage account and you just put that money in
there and you focus on learning you focus on building your account but at
the same time you’re not worried you’re not pressing yourself you’re not saying
oh man my rents due tomorrow I got to really have a good day trading I’m gonna
really go aggressive today and what happens normally is when you have those
kind of days where you say I’m gonna be really aggressive you’re gonna blow up
your account you have a bad day so I like to always go into the market with
the idea that hey I’m gonna take whatever profit I get today a lot of
times I’ll go into the morning I’m like hey kind of not really feeling it I’m
not really feeling like a great day but I’d be happy to Mars if I’m making $100
I’ll be happy with that and it works a lot of times because I’ll make $100 and
I’ll get extra profit so let’s say I make $100 in the morning I might have
one more trade in the afternoon I might make three hundred four or five hundred
dollars in one day but I went into the day with the idea that I always gonna
make a hundred dollars so the pressure is off keeps the pressure off of me
so obviously I have other income sources but day trading supplements that so I
think day trading is really great when you first start out to supplement your
other incomes don’t put all the pressure on yourself to live only off day trading
don’t put all the pressure on yourself to pay all your bills just from day
trading it’s really really difficult when you first start out so don’t put
the pressure on yourself keep the pressure off yourself and focus and
learn about day trading learn about the market and overtime you know one two
three years once you see your accountant growing once you see yourself
consistently profitable then think about maybe quitting your other jobs but when
you first start date trading this kind of you know be be conservative think
about it like this okay I could lose all my money today and I don’t want to risk
not be able to pay my rent tomorrow so I need to be able to focus and make money
other ways if I work other jobs at night that’ll supplement my income I can live
that way and that’s not to say you can’t make a lot of money day trading
is this the idea of keeping the pressure off of yourself I find and I trade a lot
better when I don’t have the pressure I don’t put the pressure on myself to make
a lot of money in one day those are the days I usually end up losing a lot of
money so I really need to focus on just growing my account stacking up profit
every day being consistent and that’s the hardest thing with the market the
market is so up-and-down you might have a stock one day that goes up a hundred
percent and the next day you see it going up again and you buy it no sudden
it drops and you’re thinking self well it went up a hundred set yesterday so
why can it keep going up and there’s all that pressure you start losing money the
stock goes down the stock comes down and the emotions kick in and you don’t want
to sell it because you’re worried that if you sell it you’re gonna lose out on
the next move or something’s gonna happen and that’s the worst way to trade
I think when you trade with the pressure the pressure will get to you over time
you first started out so a lot of the full-time traders they’ve been doing it
for a long time they had other income they did other jobs they had other
income sources while they were learning to day trade so don’t put that pressure
on yourself right away so focus on learning about day trading focus on
execution and focus on growing your account before you put the pressure on
yourself to be able to day trade for a living full-time so one of the questions
that I get a lot is people ask me could you live off of day trading I could live
off of day trading and if I really wanted to I rather just make money from
day trading make money from YouTube make money from my other jobs and make all
this extra money and power it all together and then be like wow that’s
great I had an amazing month and I made twenty thirty thousand dollars this
month from everything combined and I had a really good month but the same time
I’m not like man I really need to make a lot of money today in the market because
if I don’t I won’t go to pay my car payment tomorrow so that way I always
have income coming in I’m not worried about it I’m not forcing myself to over
trade not forcing myself to hit a certain goal every single day I think
that’s the worst thing when you put those like really high goals I used to
do that when I first started trading I put goals on myself I was like I need to
make five hundred dollars every single day and it’s just almost impossible it’s
really really hard so you might have a day where you’re down 100 bucks and
you’re thinking okay I want to get to 500 and you hit that $500 goal I got to
hit my 500 our goal and that’s the worst thing before you know it now you’re
negative 500 so instead of being up 500 you’re down 500 ours it’s gonna take you
five dollars profit to get back to zero and probably more work you got member
Commission’s and everything else fees so let’s say you’re down 500 dollars
Commission the fees now you’re 700 dollars in the hole the possibility of
you gaining a back to that $500 mark and getting out
there up $1,000 amazing but really difficult
you’re gonna keep just digging yourself deeper in the hole so keep their
pressure off yourself it is possible to daydream for a living but when you first
start out day trading don’t put the pressure on yourself keep the pressure
off learning about day trading learning about the stock market and you’ll learn
over time how to become a consistently profitable day trader and that’s the big
thing to work on don’t put the pressure on yourself trying to become a
consistently nine to five day trader be more about hey day trading is great I
love D trading I have my other job I can make money in the morning I can do my
other job and then I come back and have more money and money money money money
money everywhere and that’s what it’s really about keeping the pressure off
yourself when you first start that’s what’s helped me become consistently
profitable and to become a better day trader so hopefully that helps you guys
hopefully it gives you idea that you can become a consistently nine-to-five
profitable day trader but at first I do not suggest quitting your day job today
and then start day trade tomorrow trying to pay all your bills your mortgage your
insurance your car payment don’t put all that pressure on yourself keep the
pressure off focus on learning about day trading focus on the execution focus on
making money growing your account and then get to the point where like hey I
feel really really good right now I feel confident I got a good system in place I
got a good way of making money so I’m gonna quit my other job and now I’m
gonna add a trade full-time and then once you to that point you’re gonna know
it I’m not at that point yeah I’m definitely not at that point I don’t
know if I’ll ever be at that point I kind of like the way I have setup right
now where I can just day trade make a little bit of money it’s fun I don’t put
pressure on myself and then I you know do other things as well so I make these
videos so that’s always great it’s fun hopefully you guys enjoyed this video if
you haven’t already make sure you subscribe this channel I always talk to
guys later

41 Comments

  1. Patrick Wieland says:

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  2. Austin J says:

    I need a BILLION per year.

  3. Ismael Hernandez says:

    Great information …

  4. MrMaier3000 says:

    Do not trade with money you can't afford to lose.

  5. ZoZoTrader ZoZoTrader says:

    I daytrade and Swingtrade now but I have been doing it for over 15 yrs the start was not easy but it is worth it So Work at night trade in the day and have other sources of income do jobs on the weekend if a new trader to make some extra income to be able to learn daytrading and swingtrading because once you get it you will have a good life. But the road to start like anything or in anything is not easy. Hope this helps

  6. Max daytrader says:

    I like your upbeat intro speech, felt genuine and entertaining while not being over the top

  7. Leon Watson says:

    How long have you been trading.

  8. Dean Sanchez says:

    Agreed! It's super hard to control your emotions when the pressure is on. Good video thanks for the reminder!

  9. Stonekrypt says:

    Love your positivity! Great advice and awesome channel content. Just started following last week and notice from other channels that you give the best stock predictions by far. This channel has so far motivated me to start daytrading.

  10. Nicholas P. says:

    Great video , your honest and real , that's what people are drawn too. I will definitely subscribe.

  11. PeaceKeeper 229 says:

    I have been trying to swing trade options for the last two years. Big up and down days… not consistent. I just started day trading SPY, QQQ, AAPL, and FB weekly options. I found that 100 to 150 bucks is quick and easy for each trade. I have three brokerage accounts for up to 3 trades on each in a 5 day period. I am 5 for 5 the past two weeks. We will see how it goes…. Keep up the good work bro…

  12. Ravi Toor says:

    Keep it up bro…great video

  13. The Venoms says:

    Great contents. Keep it up 🙂 and thanks for your hard work.

  14. Adrianos says:

    Great knowledge man, thank you for sharing . Just subscribed !

  15. Divine Dream says:

    Great video. No need to rush! Small gains

  16. DBA says:

    But how much is the taxes from day trade?
    If I end the year with 7K profit
    How much from that I need to take away to pay taxes?

  17. Muffhands Hands says:

    how high are you

  18. TheSimpleInvestor says:

    What's your other job? It's difficult to day trade when you have a day job, which most people have lol.

  19. Eric Jones says:

    Great video, thanks for sharing

  20. Mr. Pupo says:

    60K bucks yearly things start to roll safely

  21. K G says:

    I need about $60 a year return from trading, just enough to keep this cool emblem that I get from being a member.

  22. Mardi Pring says:

    Great video… took me a year of trading and blowing several accounts in different platforms before I felt comfortable. You are right took your advice about learning executions first, charts, and now I’m offering advice to others who are struggling trading 👍📈

  23. Max P says:

    I got recently laid off with a severance package, now I get to focus on day trading for the next 10 weeks and see how I do. Hopefully I do well enough to not go back to work at all, but still interviewing now just in case. Since I'm on the west coast, I figure I'd trade until 8AM and then go into work if I land something I like. Like you said, it's best not to have pressure on yourself to make the amount you need to live, got that covered for the next 3 months, then unemployment benefits will kick in. Keep up the good work on the videos.

  24. Billy Hills says:

    nother great video man. Do u use fast keys?

  25. Jamie Reese says:

    you said "start with $100,000". Yikes! i gotta long way to go

  26. Fa Fa says:

    Good luck bro, I hope you have more vacation for travelling.

  27. Juan Waun says:

    its rigged dont day trade its a scam you will lose it all i warned you

  28. Fred Jackson says:

    Eventually I wanna be able to quit my job and just trade, but as I'm just starting out, my only goal right now is to make beer money every day lol. Still paper trading as of now but I made 210$ in the suretrader demo on my first trade today, as well as 10$ in Robinhood using the same stock 😎

  29. Carl James says:

    "plan trade profit" seems a lot like "learn plan profit" lol

  30. Gioi Vong says:

    Do I need to have $25k+ to day trade in TD Ameritrade?

  31. Karen Wallace says:

    I agree. It's great advice. Taking the pressure off by not depending on that income in the beginning has been key for me. I take the pressure off, too by trading small positions so that I don't get upset as much when the stock goes down before it goes back up. My gains may not be as big but it helps to keep my losses under control. When I started last year, I had a full-time day job and did swing trades buying and selling on my days off during the week. I was having some success so when my health caused me to cut back my hours, I decided to go to nights and put all my effort into trading with the intention of making a living at it eventually. Finding a good comfort zone in my trading by taking the pressure off has made a huge difference for me! Thanks Patrick! I'm making progress and supplementing my income so I feel I am on the right track.

  32. Steph Jans says:

    good piece of advice

  33. KaptainBasketball says:

    Good video

  34. Na Na says:

    I day trade as a hobby. I was doing great until the trade war started. Then i lost $6k in a month. But today i made $1500 back. If the rest of the month goes well I'll be back at even. So i know I'm not ready to live on day trading

  35. Carl James says:

    I drove for uber, slept in my car, and dumped into BTC in 2014. got out at 15k and have been into stocks for a year. options for 6 months.
    Ive cash advanced credit cards to raise capital . . . and it's paid off so far.
    … told myself that I either make it doing this…. or its an exit bag

  36. Jay Bendano says:

    You look like you need some sleep homie

  37. kevin rodriguez says:

    It is a nice video, it help me a lot!!!

  38. KDH says:

    I've been in the world of finance for 7 years now and have yet to meet one person who day trades for a living and is successful. 90/90/90. 90% of day traders will lose 90% of their money within 90 days.

  39. Dave Price says:

    100 dollars a day would be ok for me

  40. Dave Price says:

    I was planning to take a year and learn as much as i can…even then i don't know

  41. HA D says:

    2:20👍
    6:47👍

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