7 Things I Learned From Making $15 Million as a Day Trader
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- čas přidán 4. 06. 2024
- #daytrading #trading #trader
I use TradeZella to track and journal my trades.
www.tradezella.com/?via=umar
Follow my socials:
- Instagram: / umarashraf
- Twitter: / umarashraf
Here are 7 Lessons I learned from making $15 Million Day Trading over the course of 10 years, Hope you enjoy :)
Chapters:
00:00 - Intro
0:12 Don't Trade Everyday
1:24 Adapt to the Market
3:12 Set Realistic Goals in Trading
5:30 The Importance of Managing and Accepting Risk in Trading
7:16 The Value of Journaling Trades for Every Trader
9:20 The Importance of Tracking and Playbooks in Trading
11:55 Trading Psychology and Managing Emotions
13:39 Managing Emotions in Trading for Long-Term Success
15:07 Long-Term Success in Trading
DISCLAIMER I am not a financial advisor and anything that I say on this CZcams channel should not be seen as financial advice. I am only sharing my biased opinion based off of speculation and my personal experience. You should always understand that with investing there is always risk. You should always do your own research before making any investment.
#daytrading #trading #daytrader
I use www.TradeZella.com to track and journal my trades :)
Hi Umar! Do you know a guy in London who can mentor? Or a guy who knows a guy?
I am unable to use journal from trade zella
This is Bull shit! If this guy made $15 million he wouldn’t be sitting in front of you -tube trying to sell trading courses! 😂😂😂
Hello sir.. can you help me please
God bless you brother. Check out GFAL. it's a gaming project low marketcap has high potential in growth current founder is TRIP hawkins who founded E.A sports. current cap os 53M it's expected to reach $10B in 2 years! Please look into brother 🙏 😊
Curious if anyone here has tried copy trading. What was your experience? I’m relatively new to trading and I am looking study some traders and copy their open trades rather than investing myself and lose money emotionally.
To be 100% honest with you. I had the same question 4 years ago. I was confused as heck. Now copying other traders for over 3 years, I would like to tell you, YES copy trading is a good approach. Just keep in mind that the success of copying another trader lies in their transparency. Make sure you know who you are dealing with before copying them. My two cents.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@@ThomasChai05Mind if I ask you to recommend this particular coach you using their service?
"Gertrude Margaret Quinto" is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
She appears to be well-educated and seems proficient considering her résumé. I ran a Google search on her name and came across her website; thank you for sharing.
"Don't get too excited and don't get too sad " is the KEY.
Definitely both fear *and* euphoria can be a mental trap. My Dad was asking me about my trading about 6 months ago, and he asked if I got excited about the wins. He was a little surprised when I told him that I didn't; I wanted my trading to be boring. Another key is the pre-acceptance of risk, as mentioned -- learned a lot of good insights about this from Mark Douglas (RIP).
One of the most impressive aspects of Michael Hugh Terpin's trading prowess is his keen understanding of market dynamics. He possesses a deep knowledge of various cryptocurrencies, their underlying technologies, and the broader economic factors influencing their value. This comprehensive understanding enables him to make well-informed investment decisions that consistently yield positive returns.
Terpin's approach to trading is not just about making profits; it's about mastering the art of the trade. His deep understanding of market dynamics, coupled with an unwavering commitment to research and analysis, sets him apart as a true luminary in the field. Terpin's ability to identify lucrative opportunities amidst market fluctuations is truly awe-inspiring.
*HISWATHSP NUMIS*
*+1*
*60721*
*85498*
Coming up on year 3. just starting to find consistency. don't quit, this is a marathon. all the sacrifices you are making and work you are putting in will all be worth it. keep moving forward
Im deep into year 2 and its brutal lol But i can see light at the end of the tunnel 🙏
Thank you
The 1% make it because they do not give up!
just how nipsey would put it lol
Hope you guys found value in the video and like the new format :) If so, please give the video a thumbs up
❤
Thank you 🙏
Amazing 👍💯
This is amazing!!!!
Thanks
"Think about the next 100 trades" That's one of the best pieces of trading advice I've heard in a while.
Appreciate the value you share with us for free. Bless up!
i love it especially when he said over the 100 years 😂😂at 14:34
This is the million dollar talk man, been 2 years in trading and and unsuccessful. After watching you my mindset is changed totally. I don't know why nobody talks about these mistakes. You're a gem 👍
Started making profits yet?._.
This guy is a liar! I really doubt he has made $15 million in 10 years! He wouldn’t be selling tradingzella services if he was a successful trader!
keep going, keep grinding, keep learning. adapt, survive, thrive.
This guy is really great. Sounds like a level headed smart person. He doesn’t sensationalize things too much and really provides very useful advice. Makes sense why he has found success.
This guy is legend and I personally apreciate him alot for his free content
I have been watching his videos for very long time
Thank you for sharing! Your generosity means so much to us. May God bless you as you continue your journey!
I’m binging on all your videos this weekend. Thank you Umar for the great videos! 🤙
Many thanks Umar for this wonderful video. Been trading for 18 years and in 2005 there were no such videos - it would have reduced my learning time drastically but then again maybe I would not have listened or learnt it without those huge losses. If you are new in your trading career my only advice is that this video is pure gold and to follow the rules presented here. I have developed a nearly identical set of rules but that cost me money!
Thank you Umar. You're really really helping me stay positive right now.
Content is millions of dollars of worth. It speaks for itself.. God bless
Thank you for sharing your knowledge. Been following you since 2020 and your one of the FEW REAL ONES.
Thanks, brother this is amazing! Appreciate it Umar!
I found that video at the right time... It makes me realise the importance of things that I did'nt put enough effort to go to the next level. Thank you so much for all the videos you make 🙏
The only realistic youtuber worth listening to, people need a person like you bro, we need you. The time I spend on your videos is 100% worth it
SUBSCRIBE THIS GUY ALL OF YOU
Thanks for sharing your knowledge, I’ve been through all the stages you speak of and just moving upwards!
We work for years to earn $1million on our retirement, while some people put thousands of dollars in some meme coins and they become millionaires.
Things appear strange right now. the value of the US dollars is declining due to inflation, but is increasing in comparison to other currencies and commodities such as gold and real estate. People are flocking to the dollar because they believe it is safer. I'm worried the rising inflation will cause my $420,000 retirement fund will loose value. What else can we do with our money.
I always wanted to trade crypto for a long time but the volatility in the price has been very confusing to me although I have watched many CZcams videos about it but still find it difficult to understand.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
Crypto is bringing a different revolution in the world of economy, people who are optimistic investors earn consistently... other just sit and watch
Having an investment adviser is the best way to go about the market right now especially for near- retirees, I have been in touch with a coach for a year now mostly because I lack the depth knowledge and mental fortitude to deal with recurring market conditions netted over $320k in profits so far, it clears there is more to the market that we the AVG don't know that Investment advisor's know.
" Always think about your next 100 trades ". This is something that's going to stick with me forever.
I think my whole trading mindset just changed for the better. 🙏
Get intouch 🎉🎉🎉
Whats that supposed to mean?
Needs this Umar. Thanks 😢 fingers crossed I’ll make it
I LOVE YOU RECOMMENDATIONS FOR THE GROWTH OF OUR JOURNEY AS A TRADER
Man... You articulated every point very clearly which is absolute understandable by the beginners... Keeping making such videos ... Btw i love background music it kinda match with overall set of the video... Kudos keep making more such videos ...
Thank you for making this! I just started to try to take this serious and I've been putting too much pressure on myself.
Waow! Pretty much sums up a lot of key points! Always good to keep these in mind, its so easy to go on «auto-pilot» and forget all these points
I love the real honesty. It spoke to me. Thanks Umar 🤜🏻
Successful investing/trading is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Get intouch 🎉🎉🎉
Been trading for 5 years now and you never stop learning. Great video/advice. It also helps to surround yourself with a likeminded group/individuals!
Maybe surround yourself with traders not of the same mind. This guy is a fraud bro, yes I know it’s hard to withdraw from your current belief that this guy is an inspiration, but he takes advantage of the ambition of many people.
Get intouch 🎉🎉🎉
Thanks for uploading it Umar ❤❤❤
WOW!.. I mean... I'm just glad to be alive and hear from you!
Trading is really more of a psychology game. You'll be getting know yourself during the game. Thank you for sharing your philosophy. It helps a lot.
me too
Psychology is the biggest success element in trading. But never forget knowledge and skills also needed.
I would say stop with the obsession with the psychology part. Don't get me wrong, it is crucial to have the right psychology. But often times people focus way TOO much on psychology and neglect the harsh truth that they are just BAD and need to level up their knowledge.
And to the comment above, psychology is NEVER the biggest success element in trading. And yes I am making profits.
Get intouch 🎉🎉🎉
Love your video thank you
Not even halfway through the video and this is already one of the best if not top video on tips/things to learn as a day trader in the trading space. Thorough with what was learned, gives examples on how to improve, and encourages the trader to find out for themselves. Thank you for sharing your knowledge and experience!
i love these videos umar! thank you for all you do!
Thank you for your support Alex! :) I have a lot more videos coming out, what topics would you like for us to focus on?
@@UmarAshraf28 There's really nothing to add. I haven't seen a video of yours where you don't speak about everything. There's always good lessons to learn in all aspects of trading. Me personally love psychology videos, most of early traders focus too much in learning a strategy without checking their psych and mindset. So maybe a video in how to track your emotions and learn how to control that would be awesome, but that's just a personal thing of my own. Overall stunning videos!
Huge Gems💎 bro! These 7 lessons of yours will remain timeless for all traders who want to succeed! Much Love ❤
Get intouch 🎉🎉🎉
Thanks umar, im in year two & hearing your advice is very reassuring ! thank you!
Best video you’ve ever made much love thanks you for this beautiful content. Gonna keep this in my notes.
Top vid…I’ve been trading for over 25 years but constantly for 10 years profitably for 3 years but you still taught me something! Thank you for being so honest!
so does that mean you’ve beat the market for 3 years straight
Your advice on setting realistic goals and focusing on what we can control (like risk) rather than external factors like making a certain amount of money has really resonated with me. Thank you for reminding us of the importance of mindset in trading.
Get intouch 🎉🎉🎉
Excellent.. Thank you and all the success to you and your family.
Lets gooo!!! This is solid info, thanks brother
One of the best traders in the public world. Thanks for all the value the best vibes for you
You can notice he went through all of it ! He knows what he is talking about. And plus he is so nice. Keep filming this kind of videos ! I love it.
Exactly 💯
Umar, you are amzing man
Thanks a lot from the bottom of my heart
I am looking forward for more videos like this
Love these videos Umar, thank you for sharing your wisdom with all of us!
This young man inspires me to continue persevering and learning to trade! 🙌
Get intouch 🎉🎉🎉
Great advise. You articulate everything so well 👏
I never noticed some of these things for my eight months of struggle in trading all alone... Thanks for the boost I'll keep up. Now a change of mindset thanks
Thanks Umar. Great video as usual !!
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
It took me 3 years to stop trying to predict what's about to happen in the market based on charts studying because you never know. Please, i need the help of your Investment advlsor.
I just checked her out and I have sent her an email. I hope she gets back to me soon.
This is old but stick to ETFs like VOO QQQ and SCHD and just hold it forever. When the market is down that means buy. When the market is up still buy. Investing is not the same thing as trading.
Man thanks for this video it really build my energy back because i have been trading for 2yrs no profit no withdrawals sometimes i think of walk-away from trading but i have invested almost 3yrs so thats what keeps me going and seeing people like you....million love for you bro from south africa.
Keep going but chance the approach. There are tons os atores in poker where players got stucked for years and the became high stakes pros after changing the approach tô the game!!!
Don’t listen to this guy bro. You seem like you’re ambitious, he’s taking advantage of that. All these stock ‘gurus’ are full of it. What he calls the ‘smart money’, aka sell side institutions wouldn’t even look in this guys direction because it’s such a joke. He’s speculating
Great video Umar I love the new format and quality 🔥
This video is awesome Umar! Thank you so much for your generous sharing.
I love this, your advice is gold! The market definitely has seasons and looking for opportunities does NOT mean that you need to trade every day. Cash is a position. #adapt
you can tell he is legit, somewhat rare in the youtube day trading space
Love your videos Umar. You are the most genuine trading youtuber!
Thank you for sharing your trading wisdom, Umar.
Mr. Umar, you are a great person to providing all these important and crucial informations in such a simple and honest way. Thank you so very much for your videos.❤️❤️
Highly valuable advice. Especially liked the 'setting up non-money related goals'. For me, May is the month of 0 random trades.
Thank you.
There's so much value in this video. Im definitely going to put all this information to good use and become a successful trader.🚀🚀
Thank You, Valuable insights I gained from this video....
1. Recognize the impact of greed on the mind and its influence on trading decisions.
2. Prioritize risk assessment over the potential rewards of a trade.
3. Establish clear entry and exit criteria based on sound reasoning.
4. Identify a reliable edge and consistently leverage it for successful trades.
5. Engage in self-reflection to understand one's thoughts and emotions during trades.
6. Rapid scaling of profits is achievable with a solid grasp of the above principles.
Sir thank you soooooo much ... Today i was so down emotionally regarding trading ... This video helped me a lot recognising my mistakes thank you sir ...🙏 From INDIA
Thats a damn great talk. I need to watch this every trade morning. Thanks Umar!
Hey man! What a wonderful words!!! A big Thxxx! blesses for you!
Very helpful thanks alot!
I’m at year 3 in the fx market and about to take a funded account, and i’ll be following this guy throughout my process 😂
This guy is lying he has made $15m in 10 years!
What a wonderful video and advice to a new trader! Kudos Umar, kudos
Thanks for sharing your experience and give advice!
OG thank you so much!
Umar the best👌
One day I want meet you in NYC OG
Just I want to say you changed my life!
Anyone can teach technical analysis but the main game is psychology, doing it well , looking forward to see much of this stuff👍
Get intouch 🎉🎉🎉
Thank you Umar. I really mean it, thanks from the bottom of my heart. Thanks for sharing your years of experience gained through hardwork with us. I will strictly follow every single word you said.
Thank you for your support and good luck on your trading journey!
Thanks for the nuggets bro everything is clicking !
Awesome video. I couldn't agree more with your advice! Well said!
Inspirational video for a beginner like myself. Almost 4 months in this thing. I've had great ups and great downs. Winning streaks and losing streaks. Umar's argument where he specifies you need to think about the next 100 trades resonated with me today because the long-term results will determine the outlook.
He kinda went over it in the beginning but one thing that has helped me recently is , “Trade what you see , not what you think”
@@HEC892 I would interpret that as knowing market direction.
Take every trade with preconceived notion that you will lose it. That helps pacing all strategies in place, to the extent possible to avoid loss.
Since the second I heard you speaking, I thought, this man has something I want and I wasn't wrong, thanks for sharing this type of videos 🎉❤
in the first minute your first tip was sooo good big like
Thank you so much for posting this. I just subscribed. I've been looking for someone to actually break it down for me. I wrote all your goals down and going to start Journaling.
Keep going brother I’ve been following you for last 2 years. Your new podcast style content creation is amazing. Things I’m getting better watching you is developing psychology and trade recaps. Keep inspiring legend. Love from Canada.
czcams.com/users/shorts62NKTh1lSak?feature=share
Whats the name of that last podcast bro??
Trading is the easiest job.
No one teaches, but you do - right mindset, psychology, practical approach, Self retrospective study, Emotion handling, R multiple, recap of your trades.
You selfless contribution for retail traders thru your quality content is just price less.
Love from India ❤
Incredible knowledge and advice! Thank you.
I bookmarked your video. That kinda says it all ... Thanks for sharing Umar
Fantastic content as always! Appreciate the rare honesty and transparency. After experimenting with stocks since late 2021, I've shifted to 100% S&P 500, regretting not doing so from the start. Considering a return to individual stocks in 2024, but uncertain about safely investing $500k in the market.
I find it more productive and safe to buy growth/blue-chip stocks & large caps. It's advisable to work with a fiduciary advisor for a well-diversified portfolios instead of relying solely on speculations.
Would it be okay if I asked you to recommend this specific advisor or company that you used their services? Seems you've figured it all out.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Thanks, Umar. Your words have always motivated me to stay in the game. Despite trading for 4 years, I have yet to achieve success. I stopped trading since last December as I had other things going on, but I plan to come back soon with a better approach and keep your words in mind.
Nice advices and comments. Definitely right.
the best video i ever seen on trading and ive been doing it since 2010. subscribed.
Most times it amazes me greatly the way I move from an average lifestyle to earning over 63k per month, utter shock is the word. I have understood a lot in the past few years to doubt that opportunities abound in the financial markets, The only thing is to know where to focus.
When you started as a day trader, how many options contracts and days to expiry did you start with and how much stop loss on each contract? These are helpful ideas that can guide new traders. Experienced traders are not very specific in their advise. They will tell you to have rules, plans etc. What plans and what rules when you are new and learning. Giving examples are very helpful to new entrants to the market particularly number of shares and options contracts and specific amount of stop loss as a guide. The main reason new traders blow up their accounts.
Humans never reveal their secrets. Human beings are greedy.
Umar, thank you for another great inspirational video
Greetings from Singapore!
Thank you for your sharing on social media!
This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors' and hear-says, it got the best of me in the year 2020 and had me holding worthless positions in the market. I had to revamp my entire portfolio through the aid of Margaret Johnson Arndt my financial advisor, before I started seeing any significant results happens in my portfolio. Been using the same advisor since then and I’ve scaled up almost a million within 2 years. Whether a bullish or down market, both makes for good profit, it all depends on where you’re looking…
Finding financial advisors like Margaret Johnson Arndt who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
All was spot on and well said. Specifically there is no "eliminating emotions". One of the many things over the years (decades) that has stuck with me is trading is an extreme psyche eval. Every strength and weakness one possesses will be magnified 10 fold when trading and impact one in ways they normally would not in "average" day to day life situations.
This video is so informative. Thank you Umar.
Umer bro thank you so much for giving us this valuable information in trading.
Thank for the video Umar.
I sure hope I'm profitable in less time you stated at 14:34
I'm still on demo account, need to start journaling my trades.
This is very good honest advice, real to the subject matter. I would add that through the journaling concept, In my case at least it was true, is identifying repetitive mistakes and bad patterns in our trading. It can be jumping in too soon or too late which is actually recognizable when you do it repetitively. and many others like poor charting or not listening to the news, little boring things that eventually make a huge difference which is why i liked this video, it's actually very honest and that's rare
Let that candle close first, it will build self discipline and allow you to make the right entry
Respect For Such A Deep And Real Knowledge
Thank you for these videos! They are so helpful Umar Bhai!