How to Become A Full Time Day Trader (Proven Strategy)
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- เผยแพร่เมื่อ 4 มิ.ย. 2024
- One of the most common goals I see with people involved in the stock market and looking to make money online is to eventually become a "full time day trader". This is a very ambitious goal and I have nothing but respect for people who are this ambitious. Making money online and having the ability to work from home (or anywhere you would like) is the definition of a freedom. With all that being said, if you want to become a full time day trader, you need to approach everything with a proven strategy that will give you the best chance at success. Let me show you the steps you need to take in order to become a full time day trader in a realistic way. If you think it's just matter of quitting your day job and then proclaiming "I'm a full time day trader", you are mistaken. You need to be smart about your journey to becoming a fully time day trader, so let's focus on this proven strategy to make it happen.
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Great lesson Clay after 4 years of struggle I finally became a consistent Trader. Going to full time at the end of this year
congrats!
Iv started to be consistent after 2 months of trading
Zixio how long u been consistent for? What strategies do u do
How much money do you make being a trader part time? If you don’t mind me asking
@@Bm-lu8en I have just developed my own strategy with lots of TH-cam 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.
This is the advice that you don’t WANT to hear but NEED to Hear. Thank You 🙏🏼
Cheers
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
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.
do what you gotta do
How to find time to trade when working full time?
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
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!!!
Glad it was helpful!
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.
You can do it!
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
@@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 TH-camrs. Some ppl do YT for a awhile and taper off meanwhile all they old vids still running then money
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.
Thanks!
Just the talk I needed. Thank you!
Thanks for watching
First time viewer here! Very simple and straight to the point. Great job Clay!
Thanks!
Great stuff dude....seriously the most HONEST video I seen....RESPECT 👊
I appreciate that!
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
Keep on grinding!
keep us updated bro
@@peterpeter287 cheers
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?
@@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.
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
Glad it was helpful!
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!
Cheers to that!
I just started watching your videos today. About 8 videos in. I’m very interested in trying this out!! Subscribed!! I have many questions!
Welcome aboard!
Simple & clear! Thank you!!
You're welcome!
Loved the advice, this is extremely helpful for someone like me, who is just starting out. Thanks Clay!! 😊
Happy to help!
You nailed it. So clear. Thank you!
You're welcome!
This information has helped me a lot and now I know what I want ,,, I appreciate it Thank you👍
Thanks for watching!
Great point Clay. Has absolutely sense. Thanks for sharing.
Thanks for watching
By far, one of your best videos. Thanks👍
Glad you enjoyed it
Great video Clay... I have only recently came across your channel and loving the content - also subscribed to your chart analysis channel 👌
Awesome, thank you!
Do you have to specify to the credit union or bank that this account is for trading only? Or is just creating a new checking/savings account sufficient?
You would need this: claytrader.com/videos/the-stock-trading-platform-for-traders-on-a-budget-best-app/
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
Good idea Ryan! All the best to you
Great advice! The discipline is the most important part of investing.....in my opinion.
Totally agree!
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)
The first statement.
Appreciate it clay ! Plz keep it up I love the vids
Thanks! Will do!
Awesome video man. Thanks for the info. This is definately my plan.
Thanks for watching!
Bunch of Thanks for this Sir....!!
Thanks for watching
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!
I'm looking for an answer to this question as well
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.
However much you are willing to lose, but first be consistent and have a strategy and discipline
@@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.
@@Fm-ho8kc probably a stupid question but what is SIM
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.
Glad it could help!
Thank you, good advice
Cheers
Thanks man I really do appreciate the knowledge 🙏🏼💯
No problem 👍
Great video! Definitely going to take your advice!
Glad it was helpful!
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
Glad you enjoyed it!
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'" 😂
Cheers
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.
Congrats. That's 1 trade.... still 99 more to go.
Can you share details of the trade? ex i bought x and sold for y. thanks.
@@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.
@@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...
I need secret strategy
very true... set goals and steps to getting there.
Absolutely!
You are great teacher Clay, reality alway are best lessons
I appreciate that
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?
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/
Very good advice. Thanks Clay
Glad you enjoyed it
Thank you for this vital lesson.
You're very welcome!
Very informative! Thank you for sharing this!
Glad it was helpful!
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?
I'd say knock the debt out of the way too.
Well put, thanks for the help!
Glad it helped!
Thank you so much!!
You're welcome!
just became zed monopoly student but this channels also a great added knowledge.
Thanks for watching
Clay, I just jumped to Pt Job beause my skills are working. (Window Install)
CA trader. Thank you for this post today.
Awesome! Keep it up! (and thanks for watching)
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?
500 is a good starting amount.
this one helped me a lot
thank you man
Glad it helped
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.
Glad it was helpful!
As always, your the best..thx u clay
Cheers
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.
Cheers
Brilliant video. Thanks! 👍
Thanks for watching!
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
Awesome! I will be seeing you soon!
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
I appreciate that!
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!
Glad it could help!
Thank you, Clay! May God bless you!
Same to you!
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.
I'm glad you learned! That's the goal.
This is the best advice on how to do this! Thank you for an actual plan. 🙏
Glad it was helpful!
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!
Hello, can you help me please?
Thanks for watching!
Hi Dev, I'd encourage you to sign up for my (free) class I offer here claytrader.com/1-hour-trader-transformation/
Thank you!
Thanks for watching
Thanks for this. Very useful!
Cheers
I applaud you sir. This is a realistic goal to get to full time trading.
Thanks!
Came for the advice, stayed for the neat hand writing 😂
LOL
It's really very good Advise.
Thankyou 👍
You're welcome 😊
What website so you recommend for stock trades? I dont know anything
Here ya go: claytrader.com/videos/the-stock-trading-platform-for-traders-on-a-budget-best-app/
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
Ugh!!! Good job grinding back though!
I've watched many stocks climb higher after I sold at my small profit. I'm a grinder.
@@joedavis3143 nah, you're someone who needs to continue working on "trade mangemennt" :-)
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?
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.
Thanks for the information
Thanks for watching
Clay, how do u recommend I start trading while working a job that takes up trading hrs when the market is open ?
Yes, a job is a great way to keep money coming in. Lots of different ways to "trade with a job".
By analysing the charts to know where you're entry and exit points are and set orders ahead of time.
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 !
I think you mean tomorrow night! (assuming you are referring to the webinar)
@@claytrader haha yep, you're absolutely right.
Jumping in on this 3 years later, Hi Clay, great work you did here.
Thanks for the thoughts and for watching!
Such a great video clay thank you
Glad you enjoyed it
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.
Thanks for the thoughts and feedback. Cheers!
Like this approach and in the end makes perfect sense. I will be implementing this when I will be CPT.
Great!
😅I pretty much had this figured out already but I watched the whole video and sub because this guy is awesome best at explaining
Happy to help!
Thank you brother.
You are welcome
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.
i'm all about "sensible" strategies...
Thank you very much this is a very realistic strategy that will help me and others to maintain discipline
Glad it was helpful!
So, what do you think is going to happen to Tesla stock if the Crew Dragon has a really bad launch tonight?
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/
Hey man great video! I was just wondering when you talk about taking 100 trades are you talking about taking 100 trades over 6-12 months? In other words building your POM account over 6-12 months for 6-12months of living expenses? Thanks!
I'm just saying, in general.
Man, thank you so much for the solid advice! I already have a full time job that I like but have been interested in learning more about training in hopes of hopefully in a few years be able to go full time! The system seems like a great foundation to start on without building false confidence then having the floor fall out from under you.
Glad it helped!
Great video Clay.
Thanks for watching
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.
You can do it!
@@claytrader thanks man. I'm looking forward to it!!
@@jeffreymcdaniels7148 cheers
sounds good, I will definitely give it a try
Great!
thanks clay you just blowup my mind thanks a lot
Glad I could help
Thanks a loooooot .. this video really helped me ....!!
Glad it helped
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.
Keep it up
I’m new into trading and I like you videos which are very informative....
Glad you like them!
Thanks alot to You Coach...
Cheers
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.
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/
Thanks!
Cheers!
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.
Bingo!
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
Cheers
Hey Clay
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.
.
.
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You Blew My Mind Man❤☄
glad you enjoyed!
Where is the link for the work shop? Or have I missed the boat?
Here ya go: claytrader.com/1-hour-trader-transformation/
well said good video!!!
Thanks for watching
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.
Thanks for watching!
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.
Well you are putting lots of thought into it, so that's a good thing!
What are jobs/careers one can do on the afternoon, after finishing day trading in the morning?
Andy job that offers a "2nd shift"
Good stuff! Most crypto exchanges now separate out the trading account from the main account now. Makes total sense to have PoM
Glad it could help!