This Is Why You Will NEVER Earn An Income From DAY TRADING

One of the main appeals of day trading is the belief that you can bank profits on a regular basis and replace your 9 to 5 income. You can't, and anyone who tries goes broke. Welcome back everyone. In this video I will explain why you will never earn an income from day trading and what you need to do instead if you want to quit your job and live off trading profits. Let's start with the main problem. Your whole life you've learned to exchange time and effort for money. You, you go to work, do the job, get paid. It's regular and reliable and it pays the bills each month. We all take that process for granted. So when we come to trading, we automatically expect the same thing. Unfortunately, it's just not possible in trading. Now, just to be clear, it is absolutely possible to make a ton of money and get very rich. In fact, that's easy to do and I'll explain how to do it. What I'm talking about here is making an income profits on a daily, weekly or monthly basis that you can rely on and use to pay your bills. If you try to do that, like nearly all amateurs do, you're going straight to the poorhouse like all amateurs do. Because that's not just difficult, it's impossible. At least it's impossible if you try to do it the way everyone else does it. But I will show you in much cleverer way that works. It's just unorthodox. Now, I'm not going to repeat myself in this video about why short term intraday trading is impossible to profit from because of random markets. Watch the previous video in this series playlist if you want to find out about that. For this video, let's just assume the Instagram traders are right. Market isn't random and it is somehow possible to profit in the long term trading short time frames. Even with that belief, we can all agree that market conditions are inconsistent and change regularly. Sometimes they are trending, other times they are ranging signgreat. They may be very liquid or sometimes illiquid and highly volatile. That inconsistency in market behavior obviously translates to inconsistency in the profits you can make. If there was a 100 pip trend, potentially you could profit 100 pips. But if the next day is stuck near 20 pip range, you you're not going to be banking anything close to 100 pips. You can only profit what the market makes available and what it makes available changes from day to day, week to week and month to month. What most traders do is going to the markets with a target of, let's say, $100 for the day, or maybe a pick target, like 10 pips a day. On a good trending day, vrat's easy. So they hit their target and stop for the gate. They've done their work, being paid, and now they can go and enjoy their life. But the next day, conditions are different and not so easy. They lose their first trade. Now to reach their daily target, they've got to make double $100 to recover the loss, plus $100 to hit their daily target. So immediately their plan has changed. They've got to do twice as much work or be twice as skilled in order to get paid twice as much as they did yesterday. And what if their second trade also loses? They've now got to achieve triple their original plan if they want to hit their daily target. Do they keep going all day or do they quit and try again tomorrow? And tomorrow, what do they do? Stop after making the first $100, which is their daily target? Or do they try and recoup the losses from the day before so that their weekly target remains on track? And if the weekly target falls short, how do they make up for it by the end of the month to pay their bills? You've probably been in this exact situation yourself and know precisely how difficult it is. We've all done it. And this doesn't only happen from one day to the next. You'll have good weeks and bad weeks, good months and bad months. The reality is, trading is not an exchange of time for money, and returns are not in any way predictable or reliable. The sad thing is, you can in fact make a regular income and pay your bills from trading if you just use a slightly different strategy, which I will explain now. Actually, let me start with a rule. My number one rule for trading the crowd are wrong about everything. If you want to succeed at trading, do the opposite to whatever the crowd are doing, thinking, or talking about. In this case, rather than trying to force the market to give you small dependable amounts in the short term, you need to position yourself to accept whatever the market is going to give you over the long term and then spread that out yourself over the year. Here's what I mean. Let's just use the typical example of trying to make 10 pips every day. If you try that yourself, you already know it's not possible. You've definitely failed if you've tried that. But what is possible is making 200 pips a month. That's pretty easy. And 200 pips a month is the same as 10 pips a day. If we assume 20 trading days in a typical month. It gets even easier if you extend your time train out longer. The Yang peers in the past few years have averaged nearly a thousand pips every month. If you caught just one 1000 pip trend, that's the same as making 10 pips a day every day for five months. I promise you it's a lot easier to make a thousand pips once than it is to make 10 pips 100 times in a row. I'll leave a link in the description and the end screen to the system that I teach new traders, which helps you do exactly what I've just described. And that's the point. In trading, profit doesn't come uniformly day after day. You're more likely to make a year's worth of profit in just two or three good months and the rest of the year you make little or nothing. But if your tank is big enough, within 12 months, you will have replaced your 9 to 5 job and will have a regular income from trading. But you need to be patient for the first 12 months. Here's how it works. You trade for a year, capture all the non random big trends and make massive profits. You then divide it out over the next 12 months for whatever you need per month. And you now have a regular, reliable and completely dependable monthly income that that pays all your bills. In other words, last year's profits pay for next year's bills. I know you may be thinking that waiting a year before earning any money is too slow. Well, consider the alternative. Most traders try to make income from day one. After their first year, they fail to earn anything. They fail again in year two and year three and every year for as long as they keep trying to make quick income income. Remember, the crowd are wrong about everything. The method I've just described is the way all professional traders do it. From individuals trading at home all the way up to massive hedge funds. Profitable traders pay themselves at the end of a year and live off that money for the following year. And believe it or not, this is the fast track to become wealthy. I'll put another link in the description to a video where one of my clients did a $500 account up to 4 million in two years following this method. In fact, my average client that I work with comes to me after they've been trading for five years. They've tried and failed for five years to find a quick way to make an income. Every single one of them is profitable and capable of paying their bills from trading after 12 months working with me. 12 months doing things properly is an awful lot quicker than years and probably the rest of your life doing it wrong. Slow and steady wins the race. As always, I hope you find this video interesting and helpful. If so, please subscribe to the channel if you haven't already done so and like comment and share the video. If you care to help me get this content out to more people, remember to check out the links in the description or click one of the videos on the screen now, especially if you want to learn the system that will help you achieve what I've explained today. Thanks for watching. I'll see you again next time.