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How To Become A Day Trader | Making of a Day Trader

How To Become A Day Trader






Full Transcript

So how to become a day trader? Is it shot to make a lot more sense to you? Yeah. Day trading is definitely a journey. You have to take it step by step. And that’s the fun part of it. Right.

Learning one small step at a time. So before we go any further, I want to give you more of a background of who I am, how I got into day trading. So I’ll kind of make it as short as I can.

I was born in the USSR back when it was still a communist country and I moved to the United States when I was six years old. We moved to New York and I pretty much grew up, you know, like a typical US kid. Then we moved to the suburbs after we moved from New York City, and then I had to do the same thing as all my other friends did. I had to go to university even though I had no idea what I wanted to do.

I think 18 years old can be a little bit too young to be pushing people who don’t know what they want to do. But anyways, I ended up going to university. I actually ended up transferring five times, graduated on time with a tourism degree, which really doesn’t make any sense for anything. However, during that time of my life, I did get to travel.

I did a study abroad program and I lived in London, which was an eye opener for me. And I was totally hooked on travel. And I knew that somehow my life had to revolve around having travel as part of my everyday life. Right. Or just. It became a part of me. I didn’t really know what to do. So I traveled. I ended up living cross country all over the United States for a couple of years. I was a ski bunny, a surf. Don’t you call surf bunnies? But during my time of living across the United States for a couple years, I became a fitness instructor.

I was actually I was very passionate about fitness and it gave me a lot of flexibility. So I ended up becoming a fitness instructor. I moved back to New York City and was actually quite successful fitness instructor in Manhattan.

Now that I look back on my early 20s through rose-colored glasses, it was all really fun. But during that time, because of being a fitness instructor, I had a lot of free time as well. the great thing about fitness instructors is you work super early in the morning, lunchtime and then dinner time, right. When market hours for the financial markets are really dead. So I had the free time when the markets were booming to actually start to find out my passion about.

How To Become A Day Trader

That was my passion was the financial markets. And that’s how I got involved with it. When I lived in New York, I was in my early 20s and I started going to all these different financial market workshops. A lot of day trading workshops. And back then, you know, Wall Street was just high. It was before the 2008 boom crash, let’s just say. So everything was booming and beaming and a lot of the courses I went to or ridiculously expensive after the free workshop that they offer or the minimal, you know, the 20 bucks you paid for a workshop and they all were telling us the same story that you needed twenty five thousand dollars to start before even paying for their products. So it kind of really put me on edge.

And I never fully went after it because I was scared I didn’t have that kind of money. I know it was it just it wasn’t a very inviting field for me, but I knew that I really wanted to do it. Yet I didn’t. I didn’t know how was going to happen. So at that point, I kind of put on my backburner when I was twenty seven years old. I decided to travel. It was my time now to travel.

I actually just put on a backpack, said goodbye to my family, my friends, and headed south. I headed south to Mexico, and went cross-country U.S., south to Mexico. And in Mexico, I really wanted to learn Spanish. And everybody was constantly telling me, oh, Guatemala is the most cheapest country in the world for Spanish lessons. Right. I mean, I heard of Guatemala, but I never met any Guatemalans.

I didn’t know anything about it. But I was like, hey, why not? Right. So as I crossed the border from beliefs to Guatemala, within a couple of hours, I was in my most beautiful Mayan ruins of the Mayan route called Chico. I was in this tiny little cabin in their campsite. Right next to me was this Guatemalan guy who spoke perfect English and started to follow me around. Well, here we are 15 years later. We’ve been married. I have two kids with him now. We moved to Costa Rica and now we live in Guatemala. During my time in Costa Rica, he was a student.

So that’s when my first born was arrived. My first son and I had some time I had time to get back into what I really wanted, which was always the financial markets. And at that point, this was now it was 12 years ago, there was really very little about the stock market, about the financial markets, about and all of this in general. Right.

So I didn’t really know what to do. How to become day trader, which is something that I’ve always, always had an interest that was almost impossible to find online. That was easy to understand. But I was able to find stuff and completely self teach myself how to invest in the markets, mainly in the stocks and e f t’s. So I just. But that’s long term investing, right?

It didn’t require me after that education. It didn’t require me to sit every day like I do now with day trading. So during that time, while I was finding investments and what not, I also had a lot of other time and I became a travel writer. Actually, I just started a travel blog about our lives in Costa Rica, are traveling in Costa Rica with my family. Something that didn’t exist that time on the Internet at all. And they became really popular.

It actually took a life of its own and began to grow organically to the point where it became my full business. And once again, I put my financial investment ideas and education to the side because I love travel. Travel has always been a super passion for me. And here I am being a travel writer, running my own blog, working for myself and traveling completely through my what my Web site.

And it was fantastic, right? So during that time when my site was booming, we were traveling a lot. We moved to Guatemala because my husband got a job here in Guatemala. If you are not. If you are not a self-employed person, it’s really difficult for you to get really good work, even if you’re a very highly educated as my husband is. But he wanted to become. He wanted to become a doctor as an APC. So he decided that he wants to get a PHC. And we were supposed to move to Santiago, Chile, right when he quit his job and went to Santiago, Chile.

Something happened with the travel industry. This was several years ago. Now, this was over almost five years ago. Something happened with the travel industry. My business almost came to a halt. And at that point, I was the one going to be carrying my family entirely on our shoulders. On my shoulders for.

Living basically, and all of a sudden my husband is already in Santiago and we find out that Santiago is almost as expensive as living in Manhattan. But on top of that, the schools are really bad. So you need to send your children to private school, which are like 20 to 30 grand each. I have two kids at this point and the decision was really strong at this point.

You know, it’s like, do I go sacrifice myself? Because at this point, my travel business, which was super certain for at that point seven years. It was became completely uncertain and so moving to Santiago was having no real money coming in anymore and paying these enormous bills. I made a decision that while my husband is studying there, which is going to be another three years to stay in Guatemala where I can afford life even if my business is in booming.

And this was across from him, I guess, like a cross in the roads for me. That’s when I said I’m either going to work for somebody else or I’m going to invest my time right now and the little money that I have and do what I’ve always wanted to do other than trading. And that’s right. To day three and five years ago, there was plenty of opportunities out there. However, they were they are still. I find them there. So they are not very easy to understand.

Beginners for beginners, if you are kind of mildly interested, you will be deterred instantly. The obstacles are big because the language is different. It’s a very aggressive industry where you don’t get a lot of help from people because it’s all about, you know, if you can’t do it, you know, then don’t even try. And that’s not true at this point.

I felt like that. But I knew that it’s something I wanted. It’s something that I’ve wanted for so long that I said, screw it, I’m doing it right. So I decided that moment that we’re not moving me and my kids aren’t moving to Santiago. Worst thing. And I started my day trader education and my journey. And it was really difficult.

It was the most challenging experiences of my entire life, and I have to admit that Mullett, more than half of it, probably did not have to happen. If it was easier for me to find the beginnings, the basics, what was about market, do you understand?

You know, when you jump into any academy, because you need an education to become a day trader. Think of it this way. You are about to earn a lot of money. There is not a single profession out there in the world that you could just go in and throw your money at and think you’re going to make it.

And with day trading, you can because there’s no barriers. There’s no one telling you, no, you can’t get in. You don’t know what you’re doing. Oh, you’ve got cash. So come on in. Right. So you need an education.

Whatever that education may be, you could be self-taught, which is just really time consuming. And I found that you end up losing money anyways when you go into the life market because you don’t have a strategy. You need an educator.

However, when you do find an educator, a lot of them already think you’re at a level that passes the total beginners. You know, like they talk about the market movements, the trends, the different indicators, as if you know about those things and you don’t. And they’re really tough to understand. And a lot of the academies I found are three to six months. So in three to six months, you’re paying for the service and they’re expecting you to.

Well, they’re telling you, I don’t think they’re expecting you to do anything. They’re telling you that you’re going to be live and working. Yeah. Maybe if you’ve already entered knowing that, you know, the market moves up, there’s trending markets, the market moves up, it moves down, a move sideways.

There’s divergences, there’s reversal patterns. There is support, there’s resistance. There’s all these terms. And not only are they times, but you have to understand, you have to know what they are. So it’s kind of like music. You know, if you sit down at a piano and they say,

OK, here’s a Mozart sonnet. Go for it and play. And you don’t even know, you know, the first notes like Dorine Fussell A C, D or, you know, A, B, C, D, E, F, G, as we do in the US. You don’t know what they look like. You don’t have any idea what they sound like.

And then on top of that, the scales, because you have to learn how to do the scales to even understand how the music works. So it’s the same thing with day trading, right? When you went to the academies, a lot of times they overpass that beginner part and that was the biggest challenge for me.

That and also understanding a platform, realizing that I need to work with a platform. None of this was explained to me. None of this was helped. I ended up doing this on my own. And a lot of other people that I’ve started to talk with had similar challenges.

And because of that and what also happens is when you enter these academies, you’re already jumping in where there are students that have been there for years or the teachers have been teaching for years and training for years.

But it sounds like they’re you know, at one point they just jump right in and they just did it. And you feel compelled to do so yourself, even though you don’t have a solid background, you don’t understand fully that the market moves in this particular manner or that it’s going to do such a thing. Right. So you get anxious and you jump in on your own and you lose.

You will lose. You will lose when you do this. Right. This was such a huge, huge, monumental challenge for me once I got past the basics, once I woke up and I’m like, wait.

None of this was necessary if there was just somebody who gave me the one or ones from the start. The super beginner information, I would have cut so much of my time, so much of my losses out. I would, you know.

And then also these misconceptions about, you know, that is stressful and that you have to, you know, treat tons of time and you have to do all this. You have to jump in and be a shotgun trade.

None of these are true. Right. But they sound good. So when you’re doing these classes, it sounds good to be in every valley trade, whatever that means. Right. So that’s when I realized, wait. None of this is true. And I woke up. It took me almost two years to realize this. And I woke up and that’s when my trading changed remarkably, first of all.

Now I am a conservative day trader. I look only for the best. I compare myself to like a sniper. Even though I don’t believe what snipers do.

But snipers have this patience. They will never start shooting at, you know, somebody that might be their, you know, focal point, their target. They have this patience, this serious discipline, and that’s what is necessary in a day trader.

But most importantly is because they know what they’re looking for when you know what you are looking for.

You don’t the patients. It doesn’t feel like patients anymore because of weight. None of those traits are good for me. You know what the green lights are? You know what the red lights are.

Your risk is in place. All those components, all those elements put together is what makes a trader a real trader. And it doesn’t happen unless you start from the beginning.

From the very beginning.

And that’s when I am here right now to talk to you about. I now have the beginners boot camp for day trading.

How to Begin Day Trading

If you want to learn more about my journey and how I became a day trader

If you want to become day trader with ease and confidence – Sign up for the FREE How to Day Trade Mini Course. you can read it here or you can watch on my YouTube channel.

So if you have any questions you can always ask me at traderchick.com and if you want to learn day trading basics – check out Day Trading Courses.

How To Become A Day Trader