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Answering Your Day Trading Questions- How long did it take to become profitable day trading?

 how long did it take for you to become

consistently profitable day trading
are you living off day trading income
and for how many years now what's your
favorite day trading pattern currently
how do you start part time trading while
working a full time job and many many
other juicy questions that's not trading
related I'm gonna answer for you today
in this video as long as you remember to
smash the like button and we're gonna
start with the trading related questions
right now what did you do before trading
and how old were you did you start
trading
so I started trading after college and I
was working in the VFX in the film
industry how many years have you been
trading well I've been trading for about
6 years now
are you living off your trading and for
how many years so I think the better
question is am I making a livable income
from trading in a short answer is yes
and for about 2 to 3 years now but I
never just live off my trading income I
believe in having multiple sources of
income and living off and paying the
bills with the smaller income sources
it's kind of like what Jay Leno preaches
being a reinvest and save the bigger
income source which is stay trading did
you save a multiple of your full time
annual income before quitting and the
answer is absolutely yes like I said
earlier I was a VFX artist and designer
and everyone used to think that oh you
cannot make money as an artist well
depending on your niche and depending on
the industry your aim
at least in VFX if you are good at what
you do your position and your skills are
high in demand you can make some pretty
decent money and that's how I saved up
who is your first trading mentor so
that's an interesting question
I'll tell you the first and the only
trading mentor I had who actually made
it in trading and not from selling
$5,000 DVDs and his name is Oren Kerby
I'm actually met him in one of the penny
stock guru community sites and when he
was helping everyone out for free just
making these free videos and helping out
and answering everyone's emails and
questions and eventually he got banned
from the site but I had learned so much
from him from always free resources that
he was giving out selflessly
I reached out to him and wanted to
follow where he was going
eventually he went to become a hedge
fund manager and they had an educational
branch and that's where I went for my
actual training that paid for it did
cost a lot of money but it was
absolutely worth it because he was
helping everyone out for free and
regardless of whether you want to pay
him or not
yeah the course and the mentorship
program was expensive but the guy had
already proven to me that he can teach
me a lot just for free so imagine how
much I was learning after I had paid him
and paid for his program to learn from
him as a hedge fund manager and I'm very
proud to say that he trades with me in
my own private disco channel every
single day now okay next question what's
your favorite first green day or first
red days I am a long biased trader and
make more money generally from buying
stocks so my favorite I guess will be
the first screamed a team start with a
$500 account challenge video series um
and before you even ask no I'm not gonna
take a thousand steps back and grow my
$500 account from scratch why would I
ever do that you know unless I have a
$5,000 DVD to sell favorite trading
patent currently so you guys know that I
don't really believe in trading patterns
I believe in price action to meet
patterns are all the candlesticks after
they are formed in hindsight all the
pretty pictures that seem to always look
a hundred percent in hindsight right but
price action is how the candles are
forming in real time and that's what's
really important in trading in my own
opinion of course but to answer this
question I guess my current favorite
setup will be the parabolic daily charts
are you sure to alone bias so I think
I'm more loan biased
overall generally speaking of course I'm
better at buying stocks on the dip for
both the penny stocks and mid-caps and
large caps but there are seasons and
cycles where everything just tanks and
those are the opportunities where I
wouldn't hesitate to go in and slam the
bid the number one thing to keep in mind
when trading in actual moment the number
one thing
is to follow your plan you should be
trading your plan and planning your
trade right like I've talked about in
many of my previous videos you want to
leave your decision-making before you
enter the trade so you already know
you're just reacting to your plan right
if the stock goes in your direction you
know where you want to take profits if a
stock goes against you you know where
you want to cut losses you're not
planning and forming a decision in the
moment you're just executing your plan
how do you go around small capital gain
taxes eating most of your profits you
don't go around it you pay your taxes
as you become bigger you can think about
trading as a business which I do and you
have a lot of tax write-offs of all the
scanners or the equipment and everything
like that but you know you it's taxes
taxes you just gotta pay it why don't
you trade Forex
why don't I trade options why don't I
trade futures
why don't I trade crypto I don't know
you stick with what works for you and
what works for me is stocks I'm gonna
stick with trading stocks did you wait
until you were profitable to go
full-time as a trader
so I actually never planned on going
full-time as a trader like I mentioned
earlier I enjoy having multiple income
sources and of course when I first
started trading my trading income wasn't
bigger than my actual employment income
right eventually that changed but I
still kept having multiple income
streams and that was nice
I think the best way to learn how to
trade is not having to rely on your
trading income because that's the only
way to make you not so emotional and
attached to the actual money so that
would be my suggestion stop buying into
all these marketing about oh they
shouldn't you replace your current job
income I believe in trading wow you have
a job and that's how you learn and
that's how you earn at the same time and
maybe eventually that will change and
you can decide whether to quit your job
or not but I would never recommend
someone to quit your job to start
trading
did you ever blow up if so how did you
recover and yes of course
I blew up I believe to account and they
were all about $5,000 how did I recover
like I said I have multiple income
source
and I'll just fund the trading account
from my employment income how long does
it take until you became profitable took
about three years what was your turning
point that finally made you profitable
in trading okay so there's this myth out
there that there's a one secret sauce
that's gonna make you profitable and
make millions of dollars in trading
everyone's looking for that trading
secrets but really there's no secret and
there's no one single turning point that
changed the game for me trading is a
marathon I think overall what changed my
trading over a long period of time was
learning to trade my own plan and
planning my trades which is extremely
important when you first start planning
your own trade you're not gonna start
making money right away either it was
because you don't know how to plan for
your trades you don't know what you're
good at you don't know your personality
yet in trading that's why it's gonna
take a long time it's not something now
change overnight to over a couple of
weeks it took me months to even learn
how to draw a chart and know draw all
the support and resistance levels and
what those mean and how to treat them
intraday so there's no one single
turning point and there's no one DVD or
one book or one secret indicator that
change the game it's a long process over
weeks and months and even years as well
of trading and learning from your
mistakes and improving your process can
you explain the limitations that we have
for day trading with a small account
like $1,000 so in my own opinion I don't
think you should be trading with an
account smaller than three thousand or
five thousand dollars day trading is a
business it's not a hobby if you want
your business to do well you need money
you need capital to invest in your
trading so if you have a $500 account a
$100.00 accounts or even a thousand in
my opinion that's not enough you should
save up go back to your job or get
multiple jobs and save up I know it's
hard
I know most people don't have five
thousand dollars but that's my honest
suggestion I don't believe in the whole
fight turning your $500 account to a
million that's marketing I don't believe
in that they just start out trading us
part-time if yes how did you allocate
time and effort into it and the answer
is yes I started out trading part-time
where I still have my full-time job and
how do you find allocate time and effort
just ask yourself do you want it bad
enough if you do then you will find the
time and effort to wake up early to
study to chart your stocks and to
prepare before the market opens and it's
the same thing afterward I'll come back
and see what I missed for the day and
review all the movers on the day and
plan my trades for the next morning
it's basically just not having a life
outside of work and trading and you got
to ask yourself are you willing to
sacrifice that there's no easy money in
trading do you think before starting to
shorts one should master going long
first so I think this question is gonna
be different for everyone for myself yes
I did learn to long first and then I
started to short afterwards but I do
believe that your hope with your trading
overall doesn't matter where your long
bias or short bias if you know how each
side of the trade works so if I'm among
biased trader I want to learn what a
short seller is thinking so when they
are getting squeezed I can loan and join
the short squeeze and vice versa if I'm
shorting a stock as a short seller I
want to know when the long traders are
gonna give up and they're gonna dunk the
position and that's where I want to sell
into them so it just depends on your
trading style and what you're
comfortable with but if you're asking my
opinion I would say to start loaning
first before shorting what do you do
when you catch yourself over trading
trying to recover from consistent read
days so that's a very good question and
it's something that you know I have
talked about in my recap videos where
I'm having read days the next day I size
down a lot first of all I'm focusing on
trading well I'm focusing on staying
green on the day there's a matter if
it's $50 $100 $500 $5,000 it doesn't
matter I just wanna end the day green to
regain my confidence back because that's
the most important thing in trading you
want your emotions and your confidence
in control you're not trying to trade
and make back your losses because that's
what's gonna snowball
you into even bigger losses for like the
next few weeks so you know focus on
treating well incised down and just make
$1 $5 it doesn't matter what made you
decide to create trading videos so
that's a very good question as you
remember earlier as mentioned that I was
working in VFX in in film so I'm
naturally a very technical and creative
person at the same time and I love
blending different mediums together and
combining trading and making these
shorts YouTube videos is kind of like
the perfect blend of having something
that's really analytical and number
based and something that can be very
creative and technical at the same time
from a former career blending them two
together it's like the perfect mash of
my passions so you know I love doing it
and it's helped me so much in my own
trading too and I think at the end of
the day it comes to passion you have to
be really be passionate about what
you're doing if you don't have real
passion for trading if you just want the
money but you don't have the passion and
determination to stick with it for like
five six years it's probably not gonna
work out and it's the same thing with
YouTube right you have to be actually
passionate about making these videos
creating these content and writing these
really bad jokes whether you think
they're funny or not I had so much fun
making it and I hope you guys enjoy it
as well okay now we are moving on to the
non-trading relay the questions and the
more personal juicy ones for those who
are still around how old are you so my
friends call me grandma because I go to
bed I like 9 and 10 o'clock at night I'm
sitting down for this video today
because um my back hurts after
snowboarding what's your favorite thing
that you do for fun and by the way love
your videos and first of all thank you
whoever asked that question for liking
my videos well I love doing the most
fulfill is pole fitness or pole dancing
and and before any keyboard warriors out
there start typing and I know she
doesn't make money from trading but
impose anything I do not make any income
from pole dancing it's my form of
fitness and hobby I've been doing it for
years now it keeps me fit it keeps me
good and I love it are you from Canada I
always see a Canadian flag in your
videos and yes I'm a very proud Canadian
will you ever buy a Lambo and what's
your favorite Lamborghini I don't think
I'll ever buy a Lambo but I wouldn't
oppose to renting one for like a day or
two just to know what a big deal is but
I guess my favorite Lamborghini will be
the dead Mouse's Lamborghini Perry come
get it
Perry Kong what's your favorite anime so
I don't actually watch that much anime
not all Asians watch anime by the way
that's a stereotype first of all but I
guess if I have to pick or be Death Note
from maybe like 10 20 years ago the
actual manga not the anime series so
Death Note check it out
very good are you Japanese again not all
Asians are Japanese so no can you hit a
rail on your snowboard so I don't really
know whether I can hit a rail on a
snowboard but a rail could definitely
hit me so to my surprise the most
commonly asked question on my youtube
channel about day trading isn't about
trading or about any strategies or setup
single or married and it's actually the
same thing in all my Instagram DMS and
all my Instagram story questions and I
never really got why anyone cares so
much about why anyone is single or not
so I never really truly answered that
question just because it's not what my
channel is about but I guess for this
Q&A video I'll answer this question once
and for all and this one time only so
for the question are you single or are
you married so the official answer is
yes I am single but I also know somebody
who would get really pissed if he hears
me say that thank you guys so much for
sticking around and watching this Q&A
video and thank you for submitting your
questions I've gotten hundreds of
questions from the Instagram story and I
only picked the ones that were really
common so if I missed your question ask
me again down in the comment section
below and I will I'll be really happy to
answer if you guys 

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