Day Trading: 3 Strategies to Get to Consistent Profits Faster

So with your trading, I mean, does it ever feel like it's just plain taken forever to get there, you know, where you just, you know, you can trade and you relax and you're comfortable and you're secure in what you're doing and, you know, you just, you know that you're okay. For most of the traders that I talk to, you know, when they come to me, they've been trading for, like, years. At the very least a year, usually 3 to 5 is like typical tenure that most traders have. When they come to me and they're, you know, they're just, they're frustrated because it's taking so long. And really, I mean, for most traders, it does. It takes forever. So today, what I'd like to discuss with you are a couple of different strategies to shorten the, you know, the learning curve and get there faster. Because the strategy that most traders choose and unfortunately, it's like the default strategy, it seems, for most everybody, myself included. I'm not, I'm not, you know, criticizing anybody. I fell through the same trap is, you know, how simple trading looks. It does, looks so easy, you know, very straightforward. We're, you know, traders generally are above average look at trading. It's like, yeah, I get it. I get how it works. I can do that. And so we jump into it and then we find out pretty quick, oh, wait a minute, not that easy. But, you know, I've been pretty successful in life so far, you know, figuring things out. I can figure this out. And so we, you know, we would proceed to, you know, start trading with real money and thinking that we can kind of figure this out as we go. And, and the thing is, trading is deceptively simple. It actually is very simple and straightforward. The deceptive part of it is what we're going to talk about today with these different strategies because, you know, most people think, you know, you know, okay, cool, I get this. You know, I just, okay, I'll find a strategy that I like and, you know, you know, something that, you know, I can get profitable with. And then, you know, I'll. I'll focus on, you know, getting good and consistent with it. You know, maybe that maybe not that plan up front, but, you know, the first thought usually is, you know, get profitable. I want to get making some money. And then once you start, you know, maybe you find something that sounds, you know, like it'll work. And then, you know, you get busy with it and it's like, wow, yeah, man, this is not so easy to make money with. It's Just tough to stay consistent. And so, you know, I need to focus on my psychology because that must be where it is. And it's funny because, you know, everybody thinks profit first or at least that's kind of where we naturally are there. I mean, because of course, you know, we're here to make money. And so we're thinking, yeah, I want to get profitable first. But really one of the first key strategies that I want to share with you to shorten this learning curve is don't focus on profit first, focus on consistency first. That's one of the big secrets to trading is to focus on consistency first. And here's why. Trading is an activity that you're doing over and over and over again. It's not once in a great while or, you know, once and you're done. This is something you're doing over and over and over again. And so with any repeated process, and this is my quality assurance background speaking, with any process, whether it's a machine or a person, any repeated activity, the first thing you want is consistency. You just want a process that runs consistently. Because if it's not consistent, then nothing else really matters. If your process is all over the place, doesn't matter, your results are not going to be what you want them to be. The first thing you want is consistent results. And then once you have the consistency, it's really cool. Once you have the consistency, then adjusting it to make it more profitable gets easy because it's already consistent. So that's the first one and it really is, you know, that's the big deal is, yeah, just focus on consistency first. The second strategy, and this really speaks to more about you being the key part of the process with your trading. You have to understand trading is a, it's a skill based occupation. It's not something where just some Joe Blow rookie, you know, newbie doesn't know anything about trading, can just grab a, you know, trading strategy and bam, go straight to, you know, consistent monthly profits. It doesn't work that way. This is, you know, a dynamic environment. Things change. Every day is a new day. You never know what the markets are going to do. You know, as far as, you know, what event might trigger a move in the markets or whatever. There's an element of uncertainty to the markets. There is an element of order and predictability too though, so that's how we have our advantage as traders. But anyway, the main thing is trading looks very easy. It looks so simple. It's like all I need is a strategy, you know, that I can be Consistent with and I'm golden. No, trading is a skill based occupation. There are a number of skills that you need to get to be profitable at this, to be, you know, to be successful. Where you're the kind of trader, you have the skills, not just the skill of placing trades. Any chimp can click a mouse. It's knowing how to be a trader, having the skills to be a successful trader. And again, there are a variety of skill sets to go with being a successful, competent, truly confident trader. Where now, yeah, you know what you're doing. What I found years ago in working with traders, they're coming to me, you know, fighting, hesitation, other things. They're wanting help with their trading psychology and then talking with them, I found that no, they're not goofed up, they're not, they don't have big psychological issues. What they have is lack of training issues. They're trying to do a job for which they have not been properly prepared. And think about it, any job that you've ever had, and I'm sure you probably had jobs that were more complicated and sophisticated than trading, you went and did the job just fine. So it's not a matter of you having the personal assets, it's you having the training to do the job. And if nobody's showing you how this, how to actually be a trader and give you any training beyond just, you know, be disciplined and journal and you know, follow your strategy, if that's all the training that you've gotten, well, yeah, that's inadequate because there are more skills to this than, than just that. I mean there's a whole long list of skills actually that you do need to be a trader. You need to know how to select a strategy, you know how to evaluate. You have to know how to evaluate a strategy. You have to know how to analyze, you know, test it and analyze it and deploy it proper. You have to know there's a skill set or you have to know how to build confidence with it. And of course on the psychological side, then you have the performance aspect of trading where it's not about the strategy, it's about you as the trader. And then we delve into performance psychology and just making sure that we have again the skills and the know how so that you can be showing up every day to perform well. So again, there's a variety of skills that go with this occupation. And so if you want again to shortcut the learning curve, the second strategy, first strategy was focus on consistency. The second strategy is focus on skill and getting good at the thing you know, first of all, learning what you need to learn and then getting good at the skills of being a trader. Not just the skills of trading, but the skills of being a trader. And then that really will shorten the learning curve if all you focus on is the strategy and making money, being disciplined, you know, strategy, discipline, you know, if that's all you focus on. And really it's just this, you know, years of trial and error with different strategies, which is what most traders do. They just, they go the strategy of, well, I'll just try stuff and figure it out. Trial and error. That is the long, hard, expensive road to becoming a successful trader. It really is. If you focus on skills and not just try, you know, trying different systems, different strategies, you focus on developing yourself, educating yourself, leveling yourself up. As a trader, the more you level up, the easier things get. Because this job has a certain skill requirement. Like I said, take certain skills. If your skill level is down here, it's going to be rough. No matter how long you're at. I don't care if you've been at it for five or 10 years, if you never up your skills to match the requirements of the job, you're going to struggle, it's going to be rough, it's going to be stressful, you probably won't do real well and it'll be almost impossible for, for it to be not an emotional experience. And so what you need to do is focus on getting your skill level up. And then when you exceed it, when you get above, when your skills exceed the requirements of this job, it gets easy. Making money gets easy, the stress levels go away, the emotional and psychological issues fall away. Because again, you don't have psychological issues, you have lack of training issues. You're trying to do a job for which you have not been properly trained. And so once you attend to that, things get really easy at that point and that's what's cool. And then you go into your trading not filled with anxiety and am I going to make money today? Am I going to screw up? Am I going to, am I going to even have a profitable month? Or is this going to be another month where, you know, I'm just a little more in the hole? No, you're going to go to your trading with confidence, knowing that you're solid, that you have a true handle on this and you're successful and you know why you're successful and it makes an entirely different matter. But that's how you shorten the curve. Focus on the skills, not the strategy. Focus on the skills, focus on you as the trader. The third strategy is don't just go by. Go it alone. There are plenty of people, myself included, who've gone before you, who've been down the road, figured it out, and that experience is available to you to show you. Yes. What you don't know. I mean, if you think about it, if you're trying to learn it on your own, largely through trial and error, you are your own limitation. You don't know what you don't know and you can't see what you can't see. And so you're going to keep running into the same obstacles. When you get help from somebody who's been down the road, they can tell you, oh, no, this is an issue over here. This is where you need to focus. Stop focusing on that. Or, you know, yes, you need to work on this. Stop spending all your time on that. That's not productive. They can guide you and we can give you the path to get you to being a competent, successful, confident, consistently profitable trader. So getting help is the third strategy. Don't go it alone. The courses and books are all well and good. They have their place. But actually working with somebody that can give you the feedback, they can interact with you, that's huge. Again, courses have their place. Not everybody's ready for a coach. If you're not ready for a coach or a mentor, gotcha. But, you know, when you are, invest in yourself, so many people, you know, they will spend, you know, 70 or 50, 70, 150, $300,000 to go to college, to get an education, to prepare them for a great career. But when it comes to trading, they say, oh, no, I just, you know, I'll buy the $20 book. And, you know, that's why I'm going to learn to trade. That's how I'm going to educate myself and prepare myself for this occupation where I want to make, you know, five or six or seven digits worth of income. It's like, no, this is a profession. Treat it with the proper respect. Get the education, get the training, get the, get the mentoring that you need to get you there quickly. You can figure it out on your own. You can. You're probably very capable. And if, you know, given enough time, I mean, here's what I'm talking about. If you just keep hammering at it, can you figure this out over the next five or 10 or 20 years? Oh, yeah, sure. I guarantee you could probably figure this out given 20 years. But do you want to wait 20 years or do you Want to get some help and get there within the next few months. Big difference. That's the thing. So as far as the three strategies, you know, as far as shortening the learning curve to successful trading, first, focus on consistency, not strategy, not profit. Focus on consistency first. When you get the consistency down, everything else gets easier. Secondly, focus on you as a trader and your skills. Skill yourself up. When your skill level exceeds the requirement of the job, things get easy. When you're below the requirements of the job, it's going to be rough and it will continue to be rough. So consistency skills get help. That's really, that's the name of the game if you want to shorten the learning curve. You're tired of not making money. You're tired of it being over hard and difficult and filled with anxiety and that kind of stuff. Those are the three steps really. That is the easiest way, the fastest way to get there. And not just in a gimmicky way. You know, where you got some kids in there saying, you know, I turned up, you know, a hundred dollars into ten million dollars in four trades this afternoon. Here's my Lambos in my house that I don't actually own. No, we're not talking about gimmicky stuff. We're talking about where you actually become the trader that knows what you're doing. You are the trader that actually deserves the success. You know. You know deep down that yes, you do deserve it because now you've skilled up, you got the right focus, you gotten some help. Now you are the person that deserves and earns and receives the, you know, rewards from this occupation. So anyway, I know I've been, you know, a little serious on this. This is an important matter though. It really is. So many people come into trading and they do not pay it the proper respect. They treat it very lightly. They, they underestimate what it takes, they overestimate their own abilities and then they struggle literally for years. Good people, sincere people, hard working, well intended people. And really trading provides more of just a beating and an expense for them than it does the fruits that it should. So approach it properly. Take advantage of these three strategies. If you want some help with this, be more than happy to get on, you know, get on a zoom call or phone call with it. We can talk through, you know, what you're running into, get those obstacles out of the way, lay out a path for you as far as, okay, yeah, these are the things that you need to work on. This is, you know, this will, this is the steps to get you where you want to be and we'll get you there. And that's the cool thing. I mean, like I said, if you want to talk about it, first thing you need to do, if you're already trading, if you've been trading for a little bit and it hasn't been going the way you want, first thing we need to do though is really interrupt the patterns of the past and make space for new, better trading experience. And so what you want to do is swing by inside out trading, pick up a copy, break the cycle to short, very short report 10 things you can do to interrupt the patterns of the past and you can do it all, including reading the guide in less than 20 minutes. So swing by, you know, inside out trading, pick that up. That's your starting point. And you'll also be on the email list. You'll get notifications, YouTube videos like this and the podcast and also send you other helpful information to get you on your way. So I hope this been helpful. If it has, go and subscribe to my channel. You know, give me a like on the video. Share this with your friends. If you have friends who trade, share it with them. You know, so they can succeed. They'll thank you for it and they'll like you even better than they already do because you've helped them succeed. So cool. Anyway, going to hope this has been helpful. We'll talk to you soon. Cheers.