@@Bm-lu8en I have just developed my own strategy with lots of RU-vid and research and trial and error. Now I am starting to be consistent and I turned 2 thousand dollars into 5 thousand in 2 months.
Being a father of 2 and my wife a stay at home mom, I found it incredibly hard to quit my job. I make over triple what I make at my regular job and it’s labor intensive (and it takes 50-60 hours of my week) I can quit anytime but can not. Who knows maybe one day I will, or maybe get fired. Pray for me to see the light
ViPLiLG futures mostly. Some times I have the time to trade equities during work. Bought a few houses this year and currently fixing them up. The flips will definitely be enough for a nice “POM” account
The most transparent from the heart and honest recommended intro to the trading career!! Thank you so much for expressing the actual sane real world transition from the 9 to 5 to the awesome trade living paradise!!!
Thanks for what you do. I am 38 years old. I'm currently working two jobs because I put my self in debt. I'm sick of working all-day 80hrs plus. When I am debt-free im going to get your course. Hopefully, after I learn your session, I don't have to work too much. Keep up the great work you are doing. Thanks for your effort and for making a youtube video because time is more valuable than money.
@@joshuajames3342 you really sound crazy. Ppl sell course and do videos because it’s gna bring them money well they are sleeping and they dnt have trade as much. It’s called passive income. Just like RU-vidrs. Some ppl do YT for a awhile and taper off meanwhile all they old vids still running then money
Love the channel Clay! I'm going to get out of the 8 to 5 asap. I have about 200 trades (futures) under my belt, consistently make $300 - $500 a day with demo account. been studying a lot. made the budget and know what I need to be making per day / month. There will be no long commute to an office with gossip queens and toxic people. I'll also save money from the long commute each day. Been doing the 8-5 for 30 years. Time for a change. this is a great channel! thanks
200 trades on Demo? LOL, that's not nearly enough. You need to first trade with REAL MONEY and REAL money emotions consistently before you quit your job based on a demo trading TRACK RECORD?
Brooo this is amazing information, you’re not selling anything. I love that you’re not advertising the market. I have my trading account, I never thought to have a POM account. I wanted to get to where I starting pulling my money from my trading account. I’ve been blessed this year and I have 6 months worth of emergency fund but the way you broke it down makes more sense. I need to have an account that gets “replenished”. Appreciate it man
my 4th trade ever was a swing trade and went up 25k dollars, i was too scared to sell dropped the next day i sold at 8k, after 2 months of day trading i finally got back what i couldve gotten that day lol
Great video. Like a lot of people, the whole COVID-19 situation has made me revaluate what I want to do. Trading is only part of that strategy and my time horizon is much longer. I want to be completely self-sufficient in 5 years. Only thing is that I wish I had the proper realization sooner as you're absolutely right, once you have a family and higher expenses, the stakes are that much higher. Find a job that pays well enough to cover what you need (and that you leave when you punch out, not taking work home with you) and focus on learning. I've blown up several accounts over the years (thankfully not anything major) but this is the first time I'm learning to re-train my trading psychology. Thanks!
Thank you for the content tired of people only advertising flashy videos, I've been trading for two years and its rough and good at times but you can make a living just gotta stay disciplined and like you pointed out you should have a another source of income it will ease the stress of trading, also it helps to have a long term and short term account
In order to be able to quit your job and live off of trading, you first need to have a job to be able to quit. You also need money. Wow, I learned so much today.
Thank you for the video.. definitely been forcing trades. quit my job after I played SPCE/Tesla run up.. and the stock market crash... at 18 i had never seen so much money in my life. I kept some and gave most back to the market. Time to get focused on consistency instead of forcing money into the account
Thanks for keeping it real Clay! I like listening to traders like you who basically tell people that trading is not easy as opposed to the ones selling you by posing with exotic cars. "Ticker = 'JOB'" 😂
This is exactly what I was going to do. Going to deposit 1-3k and build it up to 50k. Then put half of that into my Bill's account and trade from the rest. This will be set in motion soon. Thanks for reassuring me that I'm doing things the right way.
For me as a business owner, before the market is open, i mind my physical business, after the market is open , i back to home , then i start to make s trade
Thanks Clay, your video's have been an inspiration. I've traded £15k of my own money in the last 7 weeks during lockdown and made £2.5k Just gonna keep going!
One thing I'd add to this... When you start out, consider moving to a country cheaper than your own. This means those living expenses will be greatly reduced and you can trade with less emotion as you know you've got bank for 2-3 years living in that cheaper country. Not only that, but living in another country is fun! If you can, keep your old job on ice, tell them you need 6/12/18 months off for XYZ reason, that way you have more peace of mind. Happy trading.
A sensible strategy that allows time for new traders to learn the required skills - using a demo account - and eventually placing lower risk trades on a live account.
Not that this is relevant to the video, but I got $31,000 profit today after initially losing $900 on my paper trade account. I'm really proud of that.
Thank you so much. Great advise as I am doing that already. Made the mistake of wanting to use my redundancy money to start a trading profession. But, decided to get back to work and build my trading account the correct way. THROUGH TRADING. I am losing more than I will like but I am a beginner and learning A LOT! Thank you.
Bro, I watched so many of your videos and but THIS is the BEST video i have watched from you I have MAD RESPECT for you now that advice is invaluable. It makes so much *insert expletive here* sense
There are many good points in the video. However, for me there are some challenges that I somehow need to look at and solve before I can become a full time daytrader. I live in Northern Europe. I would love to become a full time trader. However, considering what time zone I live in, I can´t trade the European markets in the cash opening. I am mainly trading stock indices and Forex. I am trading via CFD´s (I don´t think those "instruments" are allowed to trade in the USA), and I am trading on the low / short time frames. Sometimes I am only in a trade for 20 seconds. So the 3 main challenges I have are: 1) I work as a financial analyst. Mostly my job is quite stressful. When I get home from work around 4 - 4.30 pm Northern European time, the European Markets are going to close, and I can´t trade neither the opening (9 am) nor during the day in the DAX (of the FTSE) as I am at work. Also - I can´t trade the US-market opening, which is 3.30pm European time, as I am still at work or on my way home from work. When I get home from work the volatility after the opening in the US markets is typically over and the markets have gone into a trading range. It is difficult to make profits in trading ranges 2) When I have traded in my vacations - where I was also able to trade the European cash markets - I have usually made good profits in the German DAX-index. However, because I am mainly scalping on the low timeframes (1-, 5-, and 15-minute timeframes) and not doing swingtrades, I can only do that in my vacations 3) VERY often when I get home from work, I have been working with very complex cases all day long at my work. This also means that even I try to pull myself together, I very often feel that my brain is just not ready for trading, and I am "mentally" tired from my work day I don´t just want to quit my job without knowing if I can become a consistently profitable trader and live of my trading, However, the vicious circle is that I will probably never know if I am a profitable trader, unless I quit my work so I can trade the European markets during their cash opernings.
I appreciate the videos! It’s really funny because I actually just quit my job this week. I still live with my parents with very very minimal expense’s and there full support. I view day trading as a college course yet have it structured as a business. My day job was just way to draining mentally so I decided it wasn’t worth it. I look forward to putting my full effort into what I love (day trading) and look forward to the progress because I know I have a lot to learn. I know playing with fire isn’t always the best idea but it’s a risk I’m willing to take. I just wanted you to know how funny it was this video came out this week and that I appreciate your content. Thank you
It makes a lot of sense.....don’t quit your day job until your proficient and proven....prove it by funding your emergency funds thru many trades.....I have a lot to learn and I appreciate your videos
What a wake up call for me! I had 3 successful trades that altogether gave me over 15k in profits, I was set to quit my job, after those 3 trades, two weeks after, I have not have any more success or better said luck in my case. For now, I’ll follow the strategy on this video! Thanks for sharing!
Great video clay, I'm in the process of this myself now. Building a heavy pom account now. Goal is to be a full time trader by next july. Working for 18 months of living expenses.
Clay, thank you for the valuable info in this video. I just discovered the market a couple weeks ago. I’ve always loved charts and graphs and math, I lived a rough life, been to the very bottom, bounced back, and now I finally feel I found something I love and want to do for the rest of my life. The profits are awesome, and necessary but I just love the technical stuff. I hate working hard slaving all day. Now while at work I feel like I’m wasting time, could be researching companies, looking for set ups, so I’m definitely done trading time for money. I just need a way out, I hope this passion can be it. I’ve been looking at your website, which seems like an incredible investment. Still reading up on it. Today I am up 100$, very exciting, but I am still a complete beginner. See you tonight !
You are trapping yourself to only think about the "stock market"... consider this claytrader.com/videos/how-to-get-started-day-trading-with-only-100-and-zero-pdt-rule/
Think about what I said. By definition it would work because of how I set it up. What's the alternative? You just keep throwing money in from your own job?
Great advice. Sometimes our true motivations might seem SO obvious later on and you remember back to how you were always sprinting to something else! Peace of mind above all else. None of us have the same goalposts.
This is a great plan. I have been paper trading and back testing for the past 7-8 months and my edge is complete. I'm looking to start growing a small account now. Hopefully, I can reach a consistently profitable level in a couple years or maybe even go full-time. I am hoping to transition to futures trading after having success with options as profits and trade management are consistent with futures (not a derivative like options) Nothing I am more focused on right now. I am coming back to this comment once I make it there.
Great video! I’m currently 17 years old and a senior in high school. I have a passion for the stock market and truly want to get into it but I’m lost on where do start and how to begin. Some advice would be well appreciated.
Ahh, for me happened to be the opposite. When i got my new job (and before)and i was on 6 months traning i was soooo profitable and consistent. Since i do my job on my own i lost consistency and profitability…. Soo annoying.
This is great Clay, I’m considering that too one day. I’ll be comfortable whenever I start making double what my job salary is right now. If I can make that constantly for about 2 years and save up enough I’ll definitely be my own boss before I’m 35.
Hi Clay, nice to meet you. I wanted to share some thoughts with you and if you got sometime let me know what you think about it. Is more like a short poem about the market. Here I go: When that bell ring, I see a bunch of criminals and saints fighting each other and from the ashes of the battle a giant monster rise, a colossal snake: eat what is left of their bodies and even their minds and then start to struggle destroying everything around him. Sometimes the huge snake need to find a quiet place and rest and that's the moment when everything is revealed. The beast is tamed, I have no fear Hope you enjoyed it P.S: I just started to trade 2 weeks ago....I want to ride the big waves like you!