The real truth how to become a day trader
The real day trading pain that no one speaks about it
So you guys want to know the truth about day trading and becoming a day trader. You're thinking about becoming a day trader. It may read a website, a blog, you been on Facebook, seen a youtube video, how people are trading stocks. You're thinking about getting into it. Well, let me give you the truth that most of these videos won't give you right up front and we'll start with the most significant harsh reality of the mall — number one. If you're watching this video and you haven't started trading where you're thinking about trading, number one, get ready to lose all of your money. Wait, did he say that? Yup. Get prepared to lose all of your money. Okay, so that's number one. Ask Yourself, are you ready to lose all of the money you have? If yes, okay, you're prepared to become a trader. Second, are you prepared to dedicate at least one and a half to two of your years studying a new career?
That's second, yes. Good. Let's move forward. So you just said that you're ready to dedicate a year and a half to two years of your life to learn this career. You should remember, it does not get rich quick. You're learning a career. How long does it take the average person to get through college and get the degree that they want to get the job that they wish to. So you might even be looking at four years of learning. So let's move on to number four. To learn how to trade successfully and make it in this business, you need money. So back to cash. You have to be willing to put up the money in real time. Meaning you are going to use your hard earned money to learn it just like you do in school, except in school. You're usually promised that if you finish this four-year degree, then you will get a job.
They will pay you x amount of dollars. The stock market does not say, Hey, spend $25,000 a year learning this game. And then after four years, you'll probably start making 70 grand a year. It doesn't promise you that. So this is an uncertain game, okay? You don't know for sure if you're going ever to make money. So maybe school is a safer route for you. Okay. Secondly, number five. Well, what is number five? Huh? I guess I can make this one up. You're going to be lonely. Okay. Ah, become a day trader or work that you don't have to work nine to five. Enjoy your life. Hell, you're going to have beautiful women, a Ferrari Dell. You're probably going to be drinking booze and hanging out with strippers all day long at false, false, not true. You're probably not going to have a Ferrari. You're probably not going to have a boat, and you're probably not going to have strippers.
Well actually no. You probably could have strippers cause you could pay them, but you're probably not going to have some super ridiculous supermodel that loves you unless you had a lot of money than she probably is just using you. But so now that we've got that out of the way, this lifestyle you see of day traders, you're probably not going to have, okay, so let's paint the picture of what it's going to look like to be a day trader. All, excuse me. For example, you're going to wake up in your house, sit about, yeah, maybe seven, seven 30, depending on your time zone and what time the market opens. Um, if you're a responsible human being, you're probably going to wake up, perhaps make some food in the morning, you know, maybe drink some water, start on a healthy breakfast, which is essential to make sure you eat before you trade and you work.
Your mind will be much smarter, much better given your brain fuel. So the vivid picture here is you're going to wake up in your house. You're probably not going to speak to anybody, but your family members, if they're in the house, you don't have coworkers, so you don't get to associate outside of your job with actual human beings unless you're in a chat room. And then you can talk to other people within the community. But again, those are just online friends, so there's no actual face to face human interaction. So trading can get a little lonely at times. Have you guys ever been to the casino and lost money? Probably. If you're 21 and you're watching this video, you've probably been to the casino at some point in loss of money. Does it feel good losing money? Does it? No. You know when you're at the casino, and you lose some money, the first thing you instantly think is this next hand is going to be the winning one that I get my money back.
Or if you're smart, you say time to walk away. But if you're like most people, 90% of people, they will say this hands the next hand, I'm going to win this hand. And if you're like the majority of people, you'll probably double down that bet at the casino thinking that if this is the hand you're going to win back all your money and then some, and then you probably lose again. So using the casino as an example, you've probably all been there and lost some money. Doesn't feel right to lose money when you lose that a little bit of money. We have an emotional trigger in the hat, that emotional trigger we'll say fight or flight. Okay. And in that situation, it's best to take the flight option and leave, but 90% of us want to be strong and fight that. Right? So at the casino, you would probably bet again and try and win.
Then you're going to lose more. So the vivid, real picture is as a trader, you're going to be in your house by yourself in front of computer screens that don't talk to you, and you're going to have to make decisions every single day that is built on risk. Do you see yourself as a risk taker? Yes or no? Answer that question in your head. I won't hear if you answer it. So I don't care what you pick. But ask yourself, are you a risk taker? If yes, this career might be for you. If not, shut the video off. Get a four-year college degree. I don't care. Do whatever you want to do. This is probably not for you. So you need to be able to afford and take risks every day. Huh? Okay. Do you know what happens when you take big risk every day you become emotional?
You have, uh, your decision making and thought process becomes profoundly affected when you're taking significant risks every day. But remember, with risk comes reward. So if you don't take risks in life, you're just not going to have much compensation, okay? So if you want this lifestyle of boats and strippers, which you're probably not going to get, you got to take risks, okay? So if you can't afford or don't want to take risk and not the business for you, and then know that every day when you're taking the type of risks that I do and a lot of us traders do, it can affect your emotions are pretty, pretty crazy. Okay? So what happens on days where you're a day trader and you lose a lot of money? Well, let's reflect back. So you guys get a perspective. Now, some of you guys won't go is balls to the walls as me or as big of a bed is made.
But I've had days over the course of like three or four days where I've lost $30,000. Literally, I think my biggest losing trade was 30 $31,000 over the course of four or five days. So it wasn't, it was one trade, but not in like one sitting. But it took like four days. I lost 30 grand. So imagine how I felt after that. After losing $30,000 more than the average person makes an entire year. I lost in four days. What kind of a schmuck must IB? I should have just gave that $30,000 to some random kid on the street would have done much more good. Right?
We're getting phone calls, I got to go to the gym. But this is an important video. So bitch button. So more importantly, again, when you lose $30,000 that can really affect your emotions, right? So when your emotions get that affected, what do you think's going to happen to your everyday regular life? Well, if I lose $30,000 in my work life and my work life is at home where I just lost $30 $30,000 is right upstairs on my computer and I'm living in the same house. So I'm working and living in the same environment that I just lost $30,000 in does not feel good. No. That's when trading can really affect your personal life and in situations like that, it has led to me not going to the gym, not eating properly, not even eating, staying in bed Netflixing and chilling all day, which by the way, I'd probably do, regardless of losing $30,000 anyways, which I'd say you guys went to.
The smart way you should try to start Bitcoin trading with small amount of money
So I guess we can all agree there. So again, it can have a very negative effect on your personal life because it's such a, and I don't want to call it necessarily high risk, but you're just taking risk, right? Okay. If you know what you're doing right, you eliminate risk. If you don't know what you're doing, then of course it's high risk. So in the beginning, when you don't know what you're doing, you're in a high risk game. The longer you're there, the more you learn, the less risky it becomes. But as you're starting out, and these are the things to keep in mind, you're going to be taking risks every day. The type of risks that if goes wrong, it can affect your personal life to the point where you don't go to the gym. Maybe you're not eating, oh, you were supposed to go hang out with a friend.
Maybe you're going to cancel those plans because you just kind of want to sit and think to yourself on days like that where you lose a lot of money, you're really going to doubt yourself and doubt. Is this what I should be doing? Because if you lose 5,000 a day, what if you lose 5,000 tomorrow and then you lose 5,000 the next day and a couple of thousand the next day? Soon you're not going to have any money to trade with in your career is gone. There is no assurance. There is no security. Okay? Oh, oh, here's a good one. You want to be a day trader, right? Did you know that? I don't get health insurance. I have to pay for that out of pocket myself. So for some people, maybe working a nine to five is better because you kind of have a pretty straight forward plan. Your be your job might offer you benefits, health care, things like that, a customized 401k plan.
So that might just be the easy route, right? And some of you guys might want to take. So I think I've done enough spieling here, enough talking. I think I've been real enough to guy give you a little bit of insight on what it's really like behind the scenes of a trader risk emotion. Sometimes it can be lonely, sometimes it's a hell of a lot of fun. Uh, and really that's it. I don't drive a Lamborghini. I have a pretty nice house. I could afford some really nice things, but I'm a trader and I'm an investor and I know what a smart investment is. And personally, a big yacht, a super fast sports car. For me in my life, it's really not the best investment. Maybe want to have a lot more money, then maybe I'll buy one of those probably. But as an investor, those aren't smart investments.
So you also must ask yourself, when you see videos of people that are traders and they have these really crazy boats and fancy lifestyles, is that really a good investment? If they were going to investor, why would they be making such a bad investment? That's something else to also ask yourself. So I think I've done enough spieling here. I hope you guys liked the video and I hope that opened some of, so opens up some of your guys' eyes. I've probably goofed up a few words in here, but I'm not one for do edit to do editing. So you're just gonna have to deal with this video the way it is. So I hope you guys liked the video. Do give it a thumbs up, please like it. Please share.