B The Trader

In a world of trading reviews of "Gurus/Furus" who get their students to share a review on their services and coaching techniques, I decided to be the "third-party" and give you authentic reviews from real day traders who are still in services or experienced services. This way you can get their point of view on different gurus and decide for yourself if you should go the same route or a different one. I have always felt like this world of "Gurus' is so inauthentic when it comes to reviews because they always either pay for a review, have their students do one by reading a script, or just have their "successful student" do it...just doesn't seem legit. Let's change it! Here we go!

Taking profits in day trading can be a challenge for some and for the ones who can actually make a consistent profit the challenge slowly becomes how can they increase their profits? One way I have been focusing on lately is the 3R rule. Today I will be sharing what that rule is and how it can help you increase gains.

We are all looking for a pattern that will make us successful but I am willing to bet most of us are not focusing on the most important pattern... I am here to show you what pattern is the most important to master so you can get on the right track towards consistently profitable, Yourself.

Making money in day trading is super easy, I mean we all see the promoters, gurus, teachers, furus, advertisers, and heck some are KIDS showing off their cars, houses, etc... and make you feel like "man, if they can make it, I can too!" I feel the same sometimes, and when we see $10,000 dollars made in a single day trade we are impressed and would love to duplicate it. I'm here to challenge this thinking, to challenge how you been "Trained" through the media to think. Please listen. 

When you hear "Consistently profitable" what do you think? Is it a millionaire day trader? Someone who is making consistent profits in the past week, month, quarter? Or is it someone who has been consistent for a year or more? What you perceive as consistent is an important question to ask yourself because it will change how you view yourself and the challenges you face as you go on your trading journey.

Day trading and losses go hand in hand. If your a trader of any sort then you will take losses, and sometimes many in a row before you get out of a rut. I am sharing some of the ideas I am implementing during this losing streak I am in that I know will make an impact on my trading. 

Day trading is a difficult journey and taking losses is one of the hardest parts of this game. When you are working on your consistency and have found the one strategy that you are good at and want to focus on, you will sometimes face a challenge of no trades available or taking a loss on the one signal you get for the entire day....so nothing else to do.... Today I had this experience where I have one set up that showed up today and nothing more...and took a loss and had no chance of making it back.

Steven Dux is a successful day trader who made his millions from penny stock shorting. He started slightly over PDT and worked his way to success through hours of studying, spreadsheets, and mastering his psychology. He understands where he is weak and eliminates reasons for his weakness to show, something I am starting to notice with a lot of successful traders.

Chat rooms are where I got started, I joined a service, watched video lessons, and did this over and over and over again, with different services...Over time I have discovered for myself, what the pros and cons are. I want to share with you my personal opinion on chatrooms, what I learned from them, and what you personally should think about before you join one.

Carl Fred joins me today on B The Trader to discuss many different topics of trading like journaling, mindset, FOMO, taking breaks, and learning's from my many interviews with other traders.