Great lesson Clay after 4 years of struggle I finally became a consistent Trader. Going to full time at the end of this year
@claytrader4 жыл бұрын
congrats!
@Zixio4 жыл бұрын
Iv started to be consistent after 2 months of trading
@Bm-lu8en4 жыл бұрын
Zixio how long u been consistent for? What strategies do u do
@appledough38434 жыл бұрын
How much money do you make being a trader part time? If you don’t mind me asking
@Zixio4 жыл бұрын
@@Bm-lu8en I have just developed my own strategy with lots of KZbin and research and trial and error. Now I am starting to be consistent and I turned 2 thousand dollars into 5 thousand in 2 months.
@okayranks4 жыл бұрын
This is the advice that you don’t WANT to hear but NEED to Hear. Thank You 🙏🏼
@claytrader4 жыл бұрын
Cheers
@bri4real4 жыл бұрын
Being a father of 2 and my wife a stay at home mom, I found it incredibly hard to quit my job. I make over triple what I make at my regular job and it’s labor intensive (and it takes 50-60 hours of my week) I can quit anytime but can not. Who knows maybe one day I will, or maybe get fired. Pray for me to see the light
@chessandmathguy4 жыл бұрын
If you truly truly don't need the job, then do the bare minimum not to get fired. Actually, you can probably do a few notches less than that.
@claytrader4 жыл бұрын
do what you gotta do
@ViPLiLG4 жыл бұрын
How to find time to trade when working full time?
@bri4real4 жыл бұрын
ViPLiLG futures mostly. Some times I have the time to trade equities during work. Bought a few houses this year and currently fixing them up. The flips will definitely be enough for a nice “POM” account
@Ohenry08284 жыл бұрын
Thanks for what you do. I am 38 years old. I'm currently working two jobs because I put my self in debt. I'm sick of working all-day 80hrs plus. When I am debt-free im going to get your course. Hopefully, after I learn your session, I don't have to work too much. Keep up the great work you are doing. Thanks for your effort and for making a youtube video because time is more valuable than money.
@claytrader4 жыл бұрын
You can do it!
@joshuajames3342 Жыл бұрын
If he was such a good day trader he wouldn’t waste his time on selling courses… he would just trade to earn his money
@DaRealVJ90 Жыл бұрын
@@joshuajames3342 you really sound crazy. Ppl sell course and do videos because it’s gna bring them money well they are sleeping and they dnt have trade as much. It’s called passive income. Just like KZbinrs. Some ppl do YT for a awhile and taper off meanwhile all they old vids still running then money
@sl46624 жыл бұрын
The most transparent from the heart and honest recommended intro to the trading career!! Thank you so much for expressing the actual sane real world transition from the 9 to 5 to the awesome trade living paradise!!!
@claytrader4 жыл бұрын
Glad it was helpful!
@RotterStudios3 жыл бұрын
Love the channel Clay! I'm going to get out of the 8 to 5 asap. I have about 200 trades (futures) under my belt, consistently make $300 - $500 a day with demo account. been studying a lot. made the budget and know what I need to be making per day / month. There will be no long commute to an office with gossip queens and toxic people. I'll also save money from the long commute each day. Been doing the 8-5 for 30 years. Time for a change. this is a great channel! thanks
@claytrader3 жыл бұрын
Keep on grinding!
@peterpeter2872 жыл бұрын
keep us updated bro
@claytrader2 жыл бұрын
@@peterpeter287 cheers
@chicagomycity Жыл бұрын
200 trades on Demo? LOL, that's not nearly enough. You need to first trade with REAL MONEY and REAL money emotions consistently before you quit your job based on a demo trading TRACK RECORD?
@RotterStudios Жыл бұрын
@@chicagomycity You're right. LOL. Started with demo and have been trading real since I posted this. I'm emotionless so it's all good.
@Lobo594704 жыл бұрын
Brooo this is amazing information, you’re not selling anything. I love that you’re not advertising the market. I have my trading account, I never thought to have a POM account. I wanted to get to where I starting pulling my money from my trading account. I’ve been blessed this year and I have 6 months worth of emergency fund but the way you broke it down makes more sense. I need to have an account that gets “replenished”. Appreciate it man
@claytrader4 жыл бұрын
Glad it was helpful!
@ahmedaljabal5152 жыл бұрын
As a full time trader I must say for anyone starting out, listen to this guy word by word this advise is literally tresure and will spare you pain.
@claytrader2 жыл бұрын
Thanks!
@juliomartinez10643 жыл бұрын
What a wake up call for me! I had 3 successful trades that altogether gave me over 15k in profits, I was set to quit my job, after those 3 trades, two weeks after, I have not have any more success or better said luck in my case. For now, I’ll follow the strategy on this video! Thanks for sharing!
@claytrader3 жыл бұрын
Glad it could help!
@ryankraft51744 жыл бұрын
Thank you for the video.. definitely been forcing trades. quit my job after I played SPCE/Tesla run up.. and the stock market crash... at 18 i had never seen so much money in my life. I kept some and gave most back to the market. Time to get focused on consistency instead of forcing money into the account
@claytrader4 жыл бұрын
Good idea Ryan! All the best to you
@sukhmaidickoff Жыл бұрын
There are many good points in the video. However, for me there are some challenges that I somehow need to look at and solve before I can become a full time daytrader. I live in Northern Europe. I would love to become a full time trader. However, considering what time zone I live in, I can´t trade the European markets in the cash opening. I am mainly trading stock indices and Forex. I am trading via CFD´s (I don´t think those "instruments" are allowed to trade in the USA), and I am trading on the low / short time frames. Sometimes I am only in a trade for 20 seconds. So the 3 main challenges I have are: 1) I work as a financial analyst. Mostly my job is quite stressful. When I get home from work around 4 - 4.30 pm Northern European time, the European Markets are going to close, and I can´t trade neither the opening (9 am) nor during the day in the DAX (of the FTSE) as I am at work. Also - I can´t trade the US-market opening, which is 3.30pm European time, as I am still at work or on my way home from work. When I get home from work the volatility after the opening in the US markets is typically over and the markets have gone into a trading range. It is difficult to make profits in trading ranges 2) When I have traded in my vacations - where I was also able to trade the European cash markets - I have usually made good profits in the German DAX-index. However, because I am mainly scalping on the low timeframes (1-, 5-, and 15-minute timeframes) and not doing swingtrades, I can only do that in my vacations 3) VERY often when I get home from work, I have been working with very complex cases all day long at my work. This also means that even I try to pull myself together, I very often feel that my brain is just not ready for trading, and I am "mentally" tired from my work day I don´t just want to quit my job without knowing if I can become a consistently profitable trader and live of my trading, However, the vicious circle is that I will probably never know if I am a profitable trader, unless I quit my work so I can trade the European markets during their cash opernings.
@claytrader Жыл бұрын
Well you are putting lots of thought into it, so that's a good thing!
@gbh24784 жыл бұрын
Great video. Like a lot of people, the whole COVID-19 situation has made me revaluate what I want to do. Trading is only part of that strategy and my time horizon is much longer. I want to be completely self-sufficient in 5 years. Only thing is that I wish I had the proper realization sooner as you're absolutely right, once you have a family and higher expenses, the stakes are that much higher. Find a job that pays well enough to cover what you need (and that you leave when you punch out, not taking work home with you) and focus on learning. I've blown up several accounts over the years (thankfully not anything major) but this is the first time I'm learning to re-train my trading psychology. Thanks!
@claytrader4 жыл бұрын
Cheers to that!
@mikemyers15162 жыл бұрын
Great stuff dude....seriously the most HONEST video I seen....RESPECT 👊
@claytrader2 жыл бұрын
I appreciate that!
@justinwilson91524 жыл бұрын
This is exactly what I was going to do. Going to deposit 1-3k and build it up to 50k. Then put half of that into my Bill's account and trade from the rest. This will be set in motion soon. Thanks for reassuring me that I'm doing things the right way.
@claytrader4 жыл бұрын
Glad it could help!
@carmike76714 жыл бұрын
Thank you for the content tired of people only advertising flashy videos, I've been trading for two years and its rough and good at times but you can make a living just gotta stay disciplined and like you pointed out you should have a another source of income it will ease the stress of trading, also it helps to have a long term and short term account
@claytrader4 жыл бұрын
I appreciate that!
@gtaplayer43937 ай бұрын
That’s true, it’s hard to balance life,work and trading at the same time but some people can do it
@claytrader7 ай бұрын
Takes sacrifice and quality time management.
@viihuman44164 жыл бұрын
my 4th trade ever was a swing trade and went up 25k dollars, i was too scared to sell dropped the next day i sold at 8k, after 2 months of day trading i finally got back what i couldve gotten that day lol
@claytrader4 жыл бұрын
Ugh!!! Good job grinding back though!
@joedavis31434 жыл бұрын
I've watched many stocks climb higher after I sold at my small profit. I'm a grinder.
@claytrader4 жыл бұрын
@@joedavis3143 nah, you're someone who needs to continue working on "trade mangemennt" :-)
@mikeloiseau16634 жыл бұрын
Came for the advice, stayed for the neat hand writing 😂
@claytrader4 жыл бұрын
LOL
@pryius62164 жыл бұрын
In order to be able to quit your job and live off of trading, you first need to have a job to be able to quit. You also need money. Wow, I learned so much today.
@claytrader4 жыл бұрын
I'm glad you learned! That's the goal.
@GRIFF224 жыл бұрын
Thanks Clay, your video's have been an inspiration. I've traded £15k of my own money in the last 7 weeks during lockdown and made £2.5k Just gonna keep going!
@devsunny104 жыл бұрын
Hello, can you help me please?
@claytrader4 жыл бұрын
Thanks for watching!
@claytrader4 жыл бұрын
Hi Dev, I'd encourage you to sign up for my (free) class I offer here claytrader.com/1-hour-trader-transformation/
@knives263 жыл бұрын
just became zed monopoly student but this channels also a great added knowledge.
@claytrader3 жыл бұрын
Thanks for watching
@Travela2546 ай бұрын
Jumping in on this 3 years later, Hi Clay, great work you did here.
@claytrader6 ай бұрын
Thanks for the thoughts and for watching!
@elainerhule59733 жыл бұрын
Thank you so much. Great advise as I am doing that already. Made the mistake of wanting to use my redundancy money to start a trading profession. But, decided to get back to work and build my trading account the correct way. THROUGH TRADING. I am losing more than I will like but I am a beginner and learning A LOT! Thank you.
@claytrader3 жыл бұрын
Glad it was helpful!
@yourfriendmimi4 жыл бұрын
Just the talk I needed. Thank you!
@claytrader4 жыл бұрын
Thanks for watching
@pruthvi77984 жыл бұрын
I gambled on stocks and till now score is 20-0 .I do not follow any rule just select stock by my feelings.
@rheenitegaming10514 жыл бұрын
🐐
@claytrader4 жыл бұрын
cool story
@gc17094 жыл бұрын
One thing I'd add to this... When you start out, consider moving to a country cheaper than your own. This means those living expenses will be greatly reduced and you can trade with less emotion as you know you've got bank for 2-3 years living in that cheaper country. Not only that, but living in another country is fun! If you can, keep your old job on ice, tell them you need 6/12/18 months off for XYZ reason, that way you have more peace of mind. Happy trading.
@claytrader4 жыл бұрын
Thanks for the thoughts.
@Deltaparker8 ай бұрын
😅I pretty much had this figured out already but I watched the whole video and sub because this guy is awesome best at explaining
@claytrader8 ай бұрын
Happy to help!
@ayydubbx60762 жыл бұрын
Clay, thank you for the valuable info in this video. I just discovered the market a couple weeks ago. I’ve always loved charts and graphs and math, I lived a rough life, been to the very bottom, bounced back, and now I finally feel I found something I love and want to do for the rest of my life. The profits are awesome, and necessary but I just love the technical stuff. I hate working hard slaving all day. Now while at work I feel like I’m wasting time, could be researching companies, looking for set ups, so I’m definitely done trading time for money. I just need a way out, I hope this passion can be it. I’ve been looking at your website, which seems like an incredible investment. Still reading up on it. Today I am up 100$, very exciting, but I am still a complete beginner. See you tonight !
@claytrader2 жыл бұрын
I think you mean tomorrow night! (assuming you are referring to the webinar)
@ayydubbx60762 жыл бұрын
@@claytrader haha yep, you're absolutely right.
@jamescurley4502 жыл бұрын
This is a great plan. I have been paper trading and back testing for the past 7-8 months and my edge is complete. I'm looking to start growing a small account now. Hopefully, I can reach a consistently profitable level in a couple years or maybe even go full-time. I am hoping to transition to futures trading after having success with options as profits and trade management are consistent with futures (not a derivative like options) Nothing I am more focused on right now. I am coming back to this comment once I make it there.
@claytrader2 жыл бұрын
Thanks for watching!
@EverydaySundayPizzaAndPasta4 ай бұрын
Thank you, Clay! May God bless you!
@claytrader4 ай бұрын
Same to you!
@DavidLee-dy4hr4 жыл бұрын
Thanks for keeping it real Clay! I like listening to traders like you who basically tell people that trading is not easy as opposed to the ones selling you by posing with exotic cars. "Ticker = 'JOB'" 😂
@claytrader4 жыл бұрын
Cheers
@ar9n4 жыл бұрын
I stopped watching at 1:15 and invested my life savings on the JOB stock in the ARCA exchange. When do I buy my lamborghini?
@claytrader4 жыл бұрын
LOL.... lamborghini? More like your private jet....
@tdm89274 жыл бұрын
This information has helped me a lot and now I know what I want ,,, I appreciate it Thank you👍
@claytrader4 жыл бұрын
Thanks for watching!
@Dysert914 жыл бұрын
Great advice! The discipline is the most important part of investing.....in my opinion.
@claytrader4 жыл бұрын
Totally agree!
@ebk_hunid_shots66292 жыл бұрын
I just signed up for your free webinar for April 21 I’m excited to see what I gain from it being brand new to this whole thing
@claytrader2 жыл бұрын
Awesome! I will be seeing you soon!
@trenth0l202 Жыл бұрын
Great video! I’m currently 17 years old and a senior in high school. I have a passion for the stock market and truly want to get into it but I’m lost on where do start and how to begin. Some advice would be well appreciated.
@claytrader Жыл бұрын
I'd encourage you to sign up for my (free) class I offer here claytrader.com/1-hour-trader-transformation/
@appledough38434 жыл бұрын
I just started watching your videos today. About 8 videos in. I’m very interested in trying this out!! Subscribed!! I have many questions!
@claytrader4 жыл бұрын
Welcome aboard!
@user-yu9ov3rz9z3 ай бұрын
AWESOME MAN. APPRECIATE THIS A GREAT DEAL. VERY HELPFUL
@claytrader3 ай бұрын
No problem 👍
@RobCLynch4 жыл бұрын
A sensible strategy that allows time for new traders to learn the required skills - using a demo account - and eventually placing lower risk trades on a live account.
@claytrader4 жыл бұрын
i'm all about "sensible" strategies...
@codylacaille3 жыл бұрын
Bro, I watched so many of your videos and but THIS is the BEST video i have watched from you I have MAD RESPECT for you now that advice is invaluable. It makes so much *insert expletive here* sense
@claytrader3 жыл бұрын
Glad you enjoyed it!
@chuck55554 жыл бұрын
It makes a lot of sense.....don’t quit your day job until your proficient and proven....prove it by funding your emergency funds thru many trades.....I have a lot to learn and I appreciate your videos
@claytrader4 жыл бұрын
Cheers
@leeroyjenkins49652 жыл бұрын
When are you trading if you are working a 9-5 job? I know you can trade after hours, but it’s much more limited.
@claytrader2 жыл бұрын
That depends on quite a bit.
@leeroyjenkins49652 жыл бұрын
@@claytrader I appreciate the response and agree with your video. I’m just curious what you would recommend I do since I work 9am-5pm? I currently just invest in ETFs or Fortune 500 companies. My goal is to become more of a day trader, using gap scanners, which would require me to be in front of my personal computer during peak trading hours. Any recommendations?
@claytrader2 жыл бұрын
@@leeroyjenkins4965 Leeroy, we've been over this my friend. You know where you can go to "talk trading"...
@mikehawk4856 Жыл бұрын
Go to the bathroom
@habibihabi673 жыл бұрын
sounds good, I will definitely give it a try
@claytrader3 жыл бұрын
Great!
@ShawnaSharee11 ай бұрын
This is the best advice on how to do this! Thank you for an actual plan. 🙏
@claytrader11 ай бұрын
Glad it was helpful!
@lykos49724 жыл бұрын
Not that this is relevant to the video, but I got $31,000 profit today after initially losing $900 on my paper trade account. I'm really proud of that.
@claytrader4 жыл бұрын
Congrats. That's 1 trade.... still 99 more to go.
@tmarty42694 жыл бұрын
Can you share details of the trade? ex i bought x and sold for y. thanks.
@lykos49724 жыл бұрын
@@tmarty4269 I'm still a beginner trader so I don't know how to explain it, but I was trading with UGAZ and DGAZ. I don't really have a strategy.
@claytrader4 жыл бұрын
@@lykos4972 well, at least you realize it was a total gamble on your part and you got lucky.... I give you credit for good self awareness...
@engRaajix4 жыл бұрын
I need secret strategy
@chiibeji4965 Жыл бұрын
this is very excellent to be honest i believe in the next years to come more people are going to quit their full time jobs to become day trading
@claytrader Жыл бұрын
Time will tell!
@MainMan37x3 жыл бұрын
What are jobs/careers one can do on the afternoon, after finishing day trading in the morning?
@claytrader3 жыл бұрын
Andy job that offers a "2nd shift"
@Steve_IkI6 ай бұрын
3:11 "Revenge Trading" hit me 😂😅
@claytrader6 ай бұрын
:-)
@blazingtama92733 жыл бұрын
Hi Clay, thanks so much for the advice! I want to clarify something: are you suggesting us to grow our trading portfolio (100 trades) to at least 6 months of our living cost to prove our consistency? Or are you saying that we should get at least 6 months of living cost from our trading profit? (not from the whole portfolio)
@claytrader3 жыл бұрын
The first statement.
@johnwayne6222 жыл бұрын
Where does one learn how to trade? Should I go to college to learn how to trade, if so what's the major? Or does one join a online course to learn how to trade and slowly learn it? Hopefully you can answer my question I appreciate that 🙏🏻
@claytrader2 жыл бұрын
I offer this: claytrader.com/takecontrol/trading-freedom-pathway-how-it-works/
@JS-in2ko4 жыл бұрын
Hard truth but great advice. My problem is working 9-5, when do I trade since the market is open from 9:30 to 4.
@claytrader4 жыл бұрын
You are trapping yourself to only think about the "stock market"... consider this claytrader.com/videos/how-to-get-started-day-trading-with-only-100-and-zero-pdt-rule/
@albertwhite93064 жыл бұрын
I appreciate the videos! It’s really funny because I actually just quit my job this week. I still live with my parents with very very minimal expense’s and there full support. I view day trading as a college course yet have it structured as a business. My day job was just way to draining mentally so I decided it wasn’t worth it. I look forward to putting my full effort into what I love (day trading) and look forward to the progress because I know I have a lot to learn. I know playing with fire isn’t always the best idea but it’s a risk I’m willing to take. I just wanted you to know how funny it was this video came out this week and that I appreciate your content. Thank you
@claytrader4 жыл бұрын
hope it works out for ya
@Jamesjordan2.02 жыл бұрын
Just about to do the same thing myself how did this work out for you ?
@michaelmedrano57162 жыл бұрын
yeh i tired this, so far it isn’t working out well
@CryptoSeann3 жыл бұрын
Im a student, and im in the middle of taking a degree that im not sure i would use in the future. But i love trading, i look at charts everyday and learning. Any comment on career opportunity?
@claytrader3 жыл бұрын
Trading is a great way to make money. Not easy, but can provide a monthly source of income.
@alejandrocutshair2 жыл бұрын
First time viewer here! Very simple and straight to the point. Great job Clay!
@claytrader2 жыл бұрын
Thanks!
@macintoshimann98922 жыл бұрын
I have been playing with small crypto trades for a year now. Its crazy how long it took me to stop losing to my feelings, even with small amounts of money. Having a plan and sticking to it helps me have less emotions involved but I can’t imagine wanting to trade full time without a fair amount of experience because of this. I am just recently getting to where it makes sense to have actual money in play and have much to learn
@claytrader2 жыл бұрын
Keep up the good work!
@mkipar074 жыл бұрын
I don’t understand why people say 9 to 5. Between 9 to 5 there are 8 hours, which does not include lunch time.
@claytrader4 жыл бұрын
Stop overthinking things....
@silence19944 жыл бұрын
For me it’s 5-4 ahhaha rip
@jeffreymcdaniels216itstheworld4 жыл бұрын
Great video clay, I'm in the process of this myself now. Building a heavy pom account now. Goal is to be a full time trader by next july. Working for 18 months of living expenses.
@claytrader4 жыл бұрын
You can do it!
@jeffreymcdaniels216itstheworld4 жыл бұрын
@@claytrader thanks man. I'm looking forward to it!!
@claytrader4 жыл бұрын
@@jeffreymcdaniels216itstheworld cheers
@raulmendez70664 жыл бұрын
Didn't think this video was going to tell me anything I didn't know... boy was I wrong. I actually found this vide very useful. Thanks.
@claytrader4 жыл бұрын
Glad it helped!
@MrGamer_jinjit_962 ай бұрын
For me as a business owner, before the market is open, i mind my physical business, after the market is open , i back to home , then i start to make s trade
@claytrader2 ай бұрын
Nice! Do what works for you!
@DoussssssssАй бұрын
This is so good advice!
@claytraderАй бұрын
Thanks for watching!
@robertotrevino85423 жыл бұрын
I make about 30 to 40k a year so my plan is to save that amount and invest it in a etf while slowly trading in a small account and practice
@claytrader3 жыл бұрын
Roger that.
@yaboiihanz2 жыл бұрын
Im 14 years old, i really want to do this day trading when im older.
@claytrader2 жыл бұрын
Awesome!
@oswaldomontes12343 жыл бұрын
Quitting my job today💪 I’m confident
@claytrader3 жыл бұрын
ok....
@olsonashley4 Жыл бұрын
Would you recommend clearing debt in addition to funding your POM account prior to dropping a 9-5 job? Or would you just factor the debt payments into the POM number you are targeting?
@claytrader Жыл бұрын
I'd say knock the debt out of the way too.
@TheLawnSensei2 жыл бұрын
Like this approach and in the end makes perfect sense. I will be implementing this when I will be CPT.
@claytrader2 жыл бұрын
Great!
@danielgudjons85882 жыл бұрын
What if I'm only thirteen and don't have money, an account or anything?
This is great Clay, I’m considering that too one day. I’ll be comfortable whenever I start making double what my job salary is right now. If I can make that constantly for about 2 years and save up enough I’ll definitely be my own boss before I’m 35.
@claytrader4 жыл бұрын
Go for it!
@anuprajaryal90972 жыл бұрын
@@claytrader Can I have your number please.I want to learn trade from beginning.
@claytrader2 жыл бұрын
@@anuprajaryal9097 claytrader.com/takecontrol is my learning program
@A.Edlacir4 жыл бұрын
I applaud you sir. This is a realistic goal to get to full time trading.
@claytrader4 жыл бұрын
Thanks!
@muthuramank73944 жыл бұрын
I'm 19 now and thanks for this good startup 🌟 information . Such a good video . I only swiping through lots of strategy videos over the past 8months , finally I found a working strategy for me. But I don't know how to really make it working ,this video give me an idea to work with thanks clay.
@claytrader4 жыл бұрын
Keep it up
@rafalkus15674 жыл бұрын
You are great teacher Clay, reality alway are best lessons
@claytrader4 жыл бұрын
I appreciate that
@ryandejesus69373 жыл бұрын
Become a full time trader vs real estate agent?
@claytrader3 жыл бұрын
Why not do both?
@nikitagontcharov5299 Жыл бұрын
Quick question. What if you live with your parents and don't necessarily have monthly expense and instead just funds built up from your 9-5. Ive been playing the TD stock simulator and making constant profit aside from those few bad days i had when i started, I evaluated where i went wrong and made sure it doesn't happen again. The thing with this 9-5 thing though is that the market is only open once im already sitting in my chair at 9-5. I dont necessarily have access to my computer therefor i can't practice. One thing that has helped me get my research and practice in is when im sick and get a few days off work. Would it be smart to quit now and go full time trading while i dont have to worry about bills?
@claytrader Жыл бұрын
Do you plan on living with your parents for the rest of your life? You better be planning on being able to pay for bills at some point.
@ewh884 жыл бұрын
Clay, I just jumped to Pt Job beause my skills are working. (Window Install) CA trader. Thank you for this post today.
@claytrader4 жыл бұрын
Awesome! Keep it up! (and thanks for watching)
@rohanbhosale21283 жыл бұрын
Loved the advice, this is extremely helpful for someone like me, who is just starting out. Thanks Clay!! 😊
@claytrader3 жыл бұрын
Happy to help!
@blackmagick774 жыл бұрын
One of the most useful videos I've seen about how to trade full time. The using your trading profits to fund a savings account I'd say good idea. It shows you how much you're actually making. When it sits in the account with your trading funds it gets lost in the mix but a real account with profits in itis a good mile marker.
@claytrader4 жыл бұрын
Bingo!
@ahmedalhadedy13 жыл бұрын
Very informative! Thank you for sharing this!
@claytrader3 жыл бұрын
Glad it was helpful!
@elagusfil1282 жыл бұрын
Hello! very good explanation and the way forward, but I have a question? how much should be the initial of the trading account? for example a month of pom?
@claytrader2 жыл бұрын
500 is a good starting amount.
@frankreed66252 жыл бұрын
Hello clay I have been starting out on buying stocks I have put about 10,000 in so far I really would like to become a full time trader so now I have the 25,000 to get started I would like to learn step by step to become a day trader please let me no the steps I need to take and what courses I can take of yours to make this happen thanks for your time
@claytrader2 жыл бұрын
Hi Frank, my course can be found here: claytrader.com/takecontrol/
@cgtcne Жыл бұрын
How much do I need to start with into my trading account? What’s the minimum?
@claytrader Жыл бұрын
I think $500 is a good amount.
@TimeaCseri3 ай бұрын
Ahh, for me happened to be the opposite. When i got my new job (and before)and i was on 6 months traning i was soooo profitable and consistent. Since i do my job on my own i lost consistency and profitability…. Soo annoying.
@claytrader3 ай бұрын
That doesn't make any sense.
@SimplyTom184 жыл бұрын
Clay, how do u recommend I start trading while working a job that takes up trading hrs when the market is open ?
@claytrader4 жыл бұрын
Yes, a job is a great way to keep money coming in. Lots of different ways to "trade with a job".
@barcup4eva3 жыл бұрын
By analysing the charts to know where you're entry and exit points are and set orders ahead of time.
@chucklebutt44703 жыл бұрын
Great advice. Sometimes our true motivations might seem SO obvious later on and you remember back to how you were always sprinting to something else! Peace of mind above all else. None of us have the same goalposts.
@claytrader3 жыл бұрын
Cheers
@AdventureKody3 жыл бұрын
What's ticker symbol JOB? Never heard of it
@claytrader3 жыл бұрын
You better start learning a whole lot about it. It's a guaranteed source of income.
@superfab64384 жыл бұрын
This is an awesome video - full of common sense and provides 'proof' of an individual's abilities if they want to trade full time. In developing any new skill - patience, discipline and consistency is key. The one thing in your video that might be an obstacle is working 9-5 and trading at the same time. For some, the current Covid-19 scenario where they are working from home now, is the ideal opportunity to put this to the test. That's what I am attempting to do. I am very much a newbie at the very start of this journey and would love to tell my boss to 'go jump', but I recognise this transition needs to be done properly and thoroughly.
@claytrader4 жыл бұрын
Thanks for the thoughts and feedback. Cheers!
@beketmyrzanov19794 жыл бұрын
Should I accumulate daily profit from trades untill I reach POM or should I keep my daily profits in my trading account and use them to trade untill I reach POM?
@claytrader4 жыл бұрын
You need to move them to your POM account.
@asgerms4 жыл бұрын
Hey Clay! How much money do you recommend initially putting into the trading account (from the job) just to have something to "trade with" (to gradually build the POM)? Thanx!
@magnusgreen92804 жыл бұрын
I'm looking for an answer to this question as well
@Fm-ho8kc4 жыл бұрын
That's a very personal one. No one can tell. $25K you need to follow PDT rule in States. If you are not in the States, you may need less. Brokerages offer on average 1:4 up to 1:6 margin. If you want to hear the most precise answer. Read this: I would say go to SIM first, start practising, learning, find your edge and make a playbook with specific patterns and strategy. Then practise for some months and see how many R's do you collect on average per month (of course you need to find your edge first). The more you make R's, the less money you will need. The less you make the more money you need. Then take your expected amount and divide by that number of average R's per month. Then see how much it is and how much buying power you will need in order to get that R in a full size. Don't rush into making money. Rush to get the right education and find your edge first. Don't even put your real money on the table without knowing it. Don't measure your trading by amount of $$$, measure it by amount of R you make per trade and per month. Get consistency. Then go to the real trading. And be ready. All good traders I know, at least spent 1-2 years just to find their edge. Then when you find your edge and lets say you make 20-40R consistently per month. Increase the R per trade. That's it. Accuracy, Profit Loss ratio and consistency - 3 main characteristics. Good luck.
@Orderflowtrades4 жыл бұрын
However much you are willing to lose, but first be consistent and have a strategy and discipline
@Nodd184 жыл бұрын
@@AnimeWorld200 That only applies to margin accounts like if you plan on short selling the stock and need to borrow from the broker. If you are using solely your own cash the PTD rule shouldn't come into play. Though I wouldn't suggest short selling to new traders anyhow.
@danielfillmore4 жыл бұрын
@@Fm-ho8kc probably a stupid question but what is SIM
@TripH_Q4 жыл бұрын
Hey clay talk about taxes in next video .how much you pay .
@claytrader4 жыл бұрын
I'm not a tax professional.
@chessandmathguy4 жыл бұрын
Great video! Subscribed! Basically, your trading profits have to add up to 6 months to a year of expenses, and this must be done over a large number of trades. After which, you park these funds aside as cash in a savings account, to be used for bill paying in those months you need it, and to be topped up when you have profitable months again. If you go too long without being able to top it back up with trading profits, you're not a successful trader.
@claytrader4 жыл бұрын
Thanks for the sub!
@MincaLover4 жыл бұрын
Hey there Clay, great video. I see that you like trading a lot tickers like Boeing, Roku or Bank of America. Did you pick them because they have a wide Average True Range, allowing you to go long or short a ways before exiting your position?
@claytrader4 жыл бұрын
if you're interested in "talking stocks/trading in general", that's the entire idea behind my private trading community (which you are welcomed to join) which you can find here claytrader.com/team/
@averyphillips7574 жыл бұрын
I have a couple of questions Can u put a percentage on your students success rate? What exactly am I getting for my money?
@claytrader4 жыл бұрын
I have no idea on student success rates... that's impossible to track. What are you getting? Here ya go claytrader.com/takecontrol/trading-freedom-pathway-how-it-works/
@mikegodz6684 жыл бұрын
By far, one of your best videos. Thanks👍
@claytrader4 жыл бұрын
Glad you enjoyed it
@elmerlopez2147 Жыл бұрын
Thanks man I really do appreciate the knowledge 🙏🏼💯
@claytrader Жыл бұрын
No problem 👍
@juanm8024 жыл бұрын
trade "JOB" part time( weekends). Get your budget in order. TRADE PROPERLY. It has worked for me. You'll enjoy more time and an extra stream of income but most important PEACE OF MIND.
@claytrader4 жыл бұрын
cheers to that
@fatoskryeziu68013 жыл бұрын
You nailed it. So clear. Thank you!
@claytrader3 жыл бұрын
You're welcome!
@ZenTradeGame4 жыл бұрын
Imagine just quitting your job. With no money saved, and saying you want to be a trader 😂 good advice 👍
@samamoor4124 жыл бұрын
what if you have 5k saved and just quit your job and start trading full time is it gonna work ?
@claytrader4 жыл бұрын
yikes
@justinh90814 жыл бұрын
Sam Amoor nope, pdt restrictions
@Owl777202 жыл бұрын
Yup I aint leaving my job till my trading account is built up to a certain dollar amount...then yeah I will. Its all patience and getting better. I had 20 ITM today and for the week a few otm but I practiced for months straight before live trading though.
@claytrader2 жыл бұрын
Cheers!
@jimmyn13573 жыл бұрын
Great video Clay... I have only recently came across your channel and loving the content - also subscribed to your chart analysis channel 👌
@claytrader3 жыл бұрын
Awesome, thank you!
@incommunicado__3 жыл бұрын
Well put, thanks for the help!
@claytrader3 жыл бұрын
Glad it helped!
@drago87392 жыл бұрын
Appreciate it clay ! Plz keep it up I love the vids
@claytrader2 жыл бұрын
Thanks! Will do!
@jayfosho88333 жыл бұрын
I’ll tell ya my living condition is as stable as it can get , and I don’t have any bills but I can tell ya the stress of trying to stay consistent is real enough without those other two factors that what this guy is saying is 100% true , if my living condition was not stable and I had a bunch of people to feed this would be nearly impossible to do(well I know he didn’t say that but trust me it is going to be nearly impossible ) and yes the mind will crack !