This one deficiency won't get you hired on our desk

TLDW: prospect didnt have a daily journal and didnt review his performance enough.

[@austJW]

Just start the video at 2:48. Apparently the trader did not have a daily journal and didn't review trades (know stats). 5:09 for a sentence of info. Also your gatekeeper did a crap job.

[@alphaomega2713]

5 minute video for 30 seconds of information..poor ROI

[@journeyfurthur6396]

For real

[@brandonvillatuya9539]

Probably because you all have the attention spans of goldfish.

[@satanzhand]

waffled on like a bitch...

[@lastnamefirst650]

Giving context to an important lesson is not poor ROI. That’s like saying giving a backstory to make a punchline funnier is inefficient. Inefficient is speed reading 10 trading books but not journaling.

[@savalisadkins4709]

I love that Mike does not BS around, he gets straight to the point and let you know what's up. Thats the kind of mentor you need in this game. The Navy Seal training for traders. Hhhhhhhooooooo yyyyyaaaaaaa!

[@smbcapital]

Wall Streets version of BUDS ;)

[@johnwisdom9208]

The study coincides with the passion. It is a given.

[@vikramdeshmukh1207]

Is there any video about best practices to maintain trading journal ?

[@nickh2053]

It’s still funny seeing that bottle of mouth wash on the desk in the background lol.

[@couchpotato684]

Thanks.

[@44beebe]

I definitely review my trades and I study and think about trading more or less all day long, however I found myself getting burned out by over-analyzing my trades looking for too many details, patterns or things that just weren't there. I now simplify it and just look for the things that really stood out about a successful trade. I find the reasons why a trade likely worked or failed and look for as many of those reasons as possible to take or avoid the next trade. Now I really know what an A+ setup looks like and it's all about psychology waiting for the good setups, knowing when to stop out, and sizing appropriately.

[@Ammo1013]

Well said

[@edexter97]

Do you have good no cost journaling system you use?

[@ehudkrispil]

Great video with great points to consider - Thank you all

[@JT13974]

So...I keep a daily journal and your elustrius firm hires me. I don't..and your elustrius firm doesn't hire me. Got it. Thanks!

[@smbcapital]

a must!

[@jaxsons3339]

Good message for traders considering making this a full-time gig. Personally I can't imagine anyone that doesn't enjoy the continued learning , researching, the "pre-game", the "postmortem" documentation of trades that went right or wrong, back-testing new techniques, etc. to do this for any length of time and/or be successful, so its probably a good litmus to check/ask yourself. Personally I look forward to, and actually enjoy the time spent in between the close and next opening bell even more than the time in-between .

[@edexter97]

The 5 and 6 figure traders should be keeping a journal as well. When I was wAtching the currency trader videos they talk about risk management and a journal first

[@zdrux]

Is it not difficult for a day-trading or scalper to keep a daily journal if you're making 20-30 trades a day?

[@kingmike40]

I think 20-30 trades a day is over trading.

[@JustinAManny]

Extreme overtrading. You shouldn't be getting into more thant 5-6 stocks per day if daytrading. Although I prefer swing trading weeks if not months.

[@FARBOLUOS]

It could be any number of trades but the type of trades is what must be distinguished and analyzed.

[@razzyp3999]

Thanks Mike that helps alot.

[@kingstu8456]

What do you mean by daily journal? Can you elaborate?

[@fausto412]

TLDW: Prospect was very talented and didn't need to study to be successful. So you passed him up for people who do need to study to be successful. Makes a ton of sense!

[@gatsbylight4766]

If you couldn't find the drive to watch just 5::09 seconds of video by a *co-founder of a New York prop firm* who is also an *author of books on trading,* then *you* might be exactly the type of trader that he is talking about in this video.

[@r3y631]

Hi good day I would like to ask for clarification. Is it trading journal where you put your trade details or trading diary where you put your thought process before and after trading day? thank

[@nevinkuser9892]

All of it goes in the journal.

[@clubbone]

Thanks for this video, really needed to hear that. A good reminder about the true life cycle of a trade or trading

[@Vahj-Loveuar]

Definitely helps! Thanks for sharing (Fundamental #6)

[@gsandwalker]

Great video, a lot of great advice for people who actually trade for a living.

[@linearfish7151]

Thank you bossman. Always grateful when you share your wisdom. I hope someday to meet your screener, and hopefully get a shot at an interview with you too.

[@kazakman7772]

Hi there. Currently im trying to pass my sie exam. Do u guys provide sponsorship for series 57 exam?

[@dcollymo]

I agree 100% you have to love the process to be successful I do Futures trading and spend much more time studying my strategy than doing trading and I am becoming successful! ...

[@Kmwsstudios]

You will learn a lot more from the trays you make in the strategies you make them what they're telling you I just cut the s*** and get to the point

[@weili5959]

why u choose trader? cuz i want make a lot money. thats bs. U hv to know urself 1st, R u competitive, love to find the gem hidden in each mistakes, do u feel happy when solve the puzzle?u better know ur personality, cuz this job is the the hardest game in the world

[@XSAoRAD]

Why do you type like a child?

[@XSAoRAD]

That's not what I'm knocking him for, it's the lazy spelling like "u", "cuz", "hv" like a child. Plenty of folks out there actually make an attempt to communicate properly, not this lazy chatroom nonsense.

[@XSAoRAD]

@@SwerveFC On KZbin, not much. Trading, I'd expect better.

[@ivan11h]

thanks for this. I just want to be a 6 figure trader. I have grown to like trading more.

[@coelhocointech9841]

I do my best trading from 6 am to 9.30 am, than I execute

[@PapaleguasNY]

Trading is the most boring profession of all.

[@RVOL-Addict]

You have no idea what you are talking about! A passion grows. You have to try it out first.

[@Kmwsstudios]

Me as a Trader what really helps me out the most is experience trading myself and going through the Hoops of trading my strategies that's how I work for me I get what they're saying I get what they're talking about being disciplined Trader writing things on a journal yeah that does help another thing they don't see is that these markets are being more influence by the big Banks and hedge fund managers big players big investors they're the ones that's influencing a lot especially big company now I don't get into stock and Forex that much but I'll be in options my strategy is get in see if there's any news that will impact rating find Opportunities make my money get out the one of these things about the industry is they don't care about your emotions they don't care how much you study it does not care about none of those if you have the perfect strategy and perfect that perfect strategy learning consistent income then you are on the ball

[@newageeducation5908]

why you acting as a recruiter for a hedge fund when really you are just another trading guru with a training trading room video behind? provide a full disclaimer

[@Adam-ui4ef]

Trading is something to quantify. If you are good, you make money, if not, you lose it. I dont believe in trading. You cant predict the unknown.

[@mw2master93]

Its not about predicting as such, its about finding a statistical edge that you can exploit over and over. For example if you only win 20% of the time, you can still make money as long as you win 5 when you win, and lose 1 when you lose.. PUT the odds in your favour

[@RVOL-Addict]

Except some things are known. You can predict statistically likely outcomes to certain very specific situations.