Hot Take 🔥 Why You Should NOT Day Trade 

I definitely think consistency is good, I lost almost $16,000 before I started making a profit. It was a slow process toward losing that amount, over the course of about 5 years, the slight gains is what kept me depositing. I figured giving up is just throwing that money away, until you give up, it's just an investment towards learning and improving. Keep track of your losses and learn from them.

These are so good Ross. Keep'em coming,!

So what I understood from this video is if you’re not passionate about it, disciplined or willing to dive in deep and give it your all, it’s not for you….Great!!! That’s how I know it’s for me. I’ve been at it since 2019 and dove in deep during 2021. There’s nothing that gets my attention more or anything that I love as much as trading so I’m not gunna stop now that I’m really into it and enjoy learning. Thank you for the wisdom! Maybe I can sign up for your course when I’m profitable hahaha

Great video thanks! Lot of value there

Great video Ross. I look forward to these.

This is a great video guys. Thank you Ross. As I said before I swing trade as I have a full time day job

This is really helpful , thank you.

Thank you Ross!

that was fantastic congrats on the 100k subs bro

You know they say that WHO we all hang out with IS who we become. I think the Greatest thing about continuing these get togethers with the best of the best on Ross' Team, is they ALL have a unique story that we ALL can relate too, as we ALL want Financial Stability. Sincerely Appreciate you continuing to do these Ross, and all you guy's. Stay Humble, Stay Green!! 👍🏻🤑💪🏻✌🏻🆒🌄

Wow I Really enjoy hearing for people that they already make it in trading I will follow the advice tks. So 3

Good informative chat.

Great advice all the way around... I've only known what day trading is for about 3 months...I'm gravitating strongly towards it but I also really ask myself if I'm able to be in the right mindset to even start, let alone train for years just to slowly grind and learn the mechanics and psychology of trading while being willing to not make much money or even lose money... but I do honestly believe I can do this for the long term and I'm noticing these points you all are talking about have naturally aligned with my personality, I just have to dine tune and tweak certain things and build the skills to be successful in the field....I really do appreciate all that you guys do and the information you are giving here. Thank you

How can i find the news of the stocks,in the previous video you mentiond that you favorite setup was like finding all the news about the stock and something like that so i would love to know what platform that i can find the news about the stocks

This made me think about how risk management creeps into my own personal life, especially in regards to dating. For example, there's a metric that claims, on average, one out of ten women will go out with you if you ask them out. That implies, on average, you will have to withstand nine possible rejections just to secure one date. Now personally, I cannot deal with one rejection, let alone nine possible rejections in a row! But with money, it's different. If i win ten trades in a row, I can go out and not worry about rejection because I have my earnings cushion to fall back on and keep me buoyed. However, if I lost ten trades in a row, I would avoid trying to meet new people entirely, yet I would still be willing to place that eleventh trade (greatly reducing my sizing, of course) because money is something I'm more stoic about losing. When you lose money, you can _eventually_ get it back, and more importantly, it's still the same money. However, when you flub a meeting with someone, perhaps a potential lover, you don't get that person back if you fail on the initial ask. You lose access to that person _forever._ Losing money in the markets doesn't have that "lost forever" aspect attached to it, which is why (for me, at least) it's safer to lose. And I intuitively know, I will get it back. If money were love on the other hand (or if I really loved money), then it would probably be an emotional rollercoaster for me and I'd feel nothing but pain when I lost money, and maybe even find it difficult to overcome that loss and thus, throw in the towel.

Amazing to know we all think alike. Discipline better be everyone's foundation or else pay the price. Secondly, have a clear understanding that you WILL lose from time to time: IT'S OK!!! Thirdly, don't risk what you cannot afford to lose. 🙌

Great video guys! Its like you're living in my head!

Awesome video. When you decide to become a trader, it’s not just mastery of the technical analysis. It’s mastery of yourself. Glad you’re being awareness to the discipline required to be profitable in this field.

I fell below pdt yesterday for probably the 4th or 5th time. It is so so easy to lose money and you can lose it faster than you make it. But I'm not willing to give up and am writing down my lessons learned every day. Eventually I will become profitable.

Thanks for the transparency

Man, i would love to be able to sit at that table.

The interesting thing about discipline in trading to me seems to be that it takes just as much mental muscle to put on a trade when you know the cost of being wrong, as it does to withhold your trade knowing that you will feel uncontrollable FOMO as the price moves the direction you first thought, without you. It seems that there’s a “rock and a hard place” conundrum in that. There’s also an issue of the size being meaningful. If it isn’t meaningful enough, or if there isn’t an idea that one day the size will be meaningful, the mental motivation will be completely sterile. There will be none. And on the other side of that sterility, is the risk of a capitulation back into recklessness. Also, regarding rules, they don’t really speak enough to any situation. The nuances of decision making are far more complex than a set of commandments. The experience that created the rules is more important than the rules. The biggest reason people break rules is that they don’t seem to make any sense during the time one is breaking them. Or, something else is happening, like being deceived by someone’s profit gloating, but still, one can “follow the rules” and all it does is give them a “rule-following approach to losing money more slowly”. When is there a rule “thou must make a trade here” … there never is, because rules are only about cutting out negative things. And that’s why, in my opinion, being so centered on “rules” is a bit misleading. Also, the idea of “rules” comes from more of an indoctrination, and the problem is that everyone breaks rules, especially priests. Breaking rules is part of understanding what the rules were meant to help with. The capitulation into rule breaking, in my experience, has so often been preceded by an attempt to follow them, that I’ve stopped believing it’s wise to follow them outright. The biggest thing is to adopt the right pattern of behaviors, the ones that go against misleading inherent instincts, rather than adopt a religious adherence to a bunch of rules that help you lose money in a more orderly fashion than if you broke them. Perhaps a discussion of “risk management” is what’s needed. But the idea of there being a set of commandments that will lead one to prosperity is as dead as god. And I’ve spent enough time and money around “gurus” to know that the fastest way to double your money from trading, is being a priest. So if anyone is trying to cut out time from their learning curve, then they should know that the best disguise for a false prophet, is that of a rule-monger.

Thank you.

Discipline and perseverance are the main words for me. Im still learning to day trade. After this video I now know I can succeed holding on to these words. Thanks guys!

Congratulations! on 1 Milion Sub👏 I'm a future Trading but I always watch your video 📹 it's beacuse you are so onest and realistic and I don't know why I'm keep watch you but maybe I have a call to trade stock as well.

Thank you for the comrade and advise

Ross, really great to and educational when you have your gang together. Love watching this group, maybe in the future I'll be there trading with y'all!!

Thx guys this episode helped more than you know

With great respect to you guys, I think it is not right to say who can or cannot become a consistently profitable day trader. After all we human are too sophisticated to be boxed in a little description.

Stock Price Forecast According to 7 stock analysts, the average 12-month stock price forecast for MULN stock is $23.46, which predicts an increase of 8608.24%. The lowest target is $23.23 and the highest is $24.15. On average, analysts rate MULN stock as a buy.

Yes! This episode was great. It is positively inspiring to see a great group of highly successful young traders comparing notes and thriving off of the synergistic reinforcement of acknowledging what sort of characteristics are necessary for this common goal. When I finally broke through to trading success I was older than these guys... but who's complaining??

I believe an important part of successful traders are the tools and how well you know how to use them to get the right view on the market.

I’ve been learning about trading and stocks in general since I was 16, I’m 21 now, and I used to trade a little then you taught me to paper trade. I’ve been consistently making 500-1000 a day paper trading for the last 6 months I think I’m ready to go for it! I know when to take profits and cut losses the only thing I’d like to learn a little more is chart patterns that MAY (I know not always) indicate a stock moving up.

I can let things go and keep moving. First day trading last week after months of practice I loss $1400. Took the risk and Tesla ate me up. Next day 2 days I made it all back and I never let it hold me back. determination and looking at what I did wrong has helped me. I can look back and analyze what I did and what the mistake was very well.

I’ve mentally prepared as much I possibly can. I’ve been at the bottom of every job I’ve ever held. I don’t even need to be rich I I could net even 50K I’d be happy I’m a special education teacher up to my neck in college debt and I only net 30K now. I’m don’t have much money but I’m ready to try to grow I’m as prepared for loss as I am for gain. Thank you for your time fellas.

why some ppl use 55 ema instead of 50 ema? is 55 ema better for ema crossing?

Do you have any "must read" book recommendations before starting day trading?

Discipline is the key!

I quit after a year and half of being immersed in it. My technical analysis got pretty good, I just didn't have the discipline to do it. I might do some swing trades every now and then.

You can be average at most careers and bring home a respectable income, if you're average at day trading you're losing money.

This just told me I'd be great at day trading.

I did my first serious day trade today. And I lost 27$ exactly how much I was willing to lose and I was going to Manually Trail Stop it every 30$ profit... sadly never got there but I learnt that Stop Limit is the most important tool in Day Trading. Because oh boy did that stock rip after my stop loss.

The key to being a good day trader is the ability to be ADAPTABLE

Long term deep value investing is 100% more successful for everybody; stop gambling people. Technical analysis, fundamental analysis, free cash flow analysis

🔥🔥🔥

I did a huge mistake not selling my contract when Amazon went to $103 I was making $400 profit.

Great video. you've remind me of what someone once said❤ Making money is an Action, keeping money is behavior, Growing money is Knowledge. I once attended seminar and ever since then i been waxing strong financially, and i most tell you the truth

In the same boat 😔

I’m curious as to why there are no women represented. Will I be supported and encouraged as a female if I sign up? To me this is the best program out there but no female representation concerns me.

YOU need to be a very big believer!

why the cya?

Sounds like it takes a lot of concentration to do day trading

11:28

teacher

You've made me more confused guys. To be persistent or lose and get along with it?😃😆😆

Run, you fools!

What happened to your fire house?

Where's the "hot take"???

Lets flex our earnings while saying you should stay poor cause we got ours and you will never be as good as us.

In summary, they talk about basic life skills applicable to any walk of life in order to discourage the easily discouraged from day trading. Not great content here.

The game changer for me was using an indicator called Theta 45. If you’re a day trader, this will get you more wins.