7 things I learned from making $15 Million as a Day Trader....
Last updated: May 21, 2023
The video by Umar Ashraf is about the lessons and things he learned throughout his journey as a day trader, including not having to trade every day, adapting to the market, and setting realistic goals.
The video is about a day trader who made over $15 million in 10 years of trading and shares the lessons he learned throughout his journey.
He emphasizes the importance of not trading every day and focusing on finding opportunities in the market.
He also stresses the need to adapt to the market and recognize when strategies are not working.
The trader advises setting realistic goals that are not solely money-related, such as improving win percentage or risk-to-reward ratio.
He encourages traders to focus on identifying opportunities and setting small goals to achieve success.
Focus on finding opportunities in the market and don't feel the need to trade every day.
Adapt to the market by recognizing shifts and making proper transitions.
Set realistic goals that are not solely money-related and focus on improving win percentage and risk to reward ratio.
Track and analyze trades to identify areas of strength and improvement.
Have playbooks and setups for consistency and discipline in trading.
Establish entry and exit criteria and manage risk through journaling and emotional management.
Understand the psychology involved in trading and manage emotions to keep losses and gains manageable.
Flexibility and adaptability are key to success in trading.
Having a game plan and sticking to it is crucial for success in trading.