Why Learn Day Trading
Hello everyone, today I will share with you why it is super important to learn day trading before you risk any real money.
This is the biggest mistake that all beginner traders do and many of them regret it after that. Of course, it’s that they start day trading without any education, without any online courses, even without watching a single video on YouTube.
They see some ad, they open an account with a broker, they start trading, and guess what happens? They lose money. 99% of the people that start without any education blow their account in the first 1 month. I’ve been working for 6 different brokers, I’m telling you a statistic. That’s not something I’m guessing.
99% of the people that start without solid education blow their accounts in the first 1 month.
What does it mean to blow your account? You fund an account with $1,000 and you lose it all, this is blowing an account.
So it is very important to learn day trading or to learn to trade in general before you risk your first dollar. I’m recording in December 2020, there are so many possibilities that you can learn online. You really don’t even need to go to any kind of academy, the university even, a school for trading, everything is online. It’s super easy and effortless. Perhaps not effortless because every time you learn something you need to put some effort but it’s much cheaper.
Study Hard To Learn Day Trading
For example, when I wanted to learn to trade, and I mentioned that in many of my videos and courses, I had to choose between 3 academies during this time. One was in London, another one was in Australia, and the third one was in the United States. Obviously, for me living in Bulgaria, the easiest one was to go to London, the cheapest one even if it was super expensive for me.
It was about £4,000 which at that moment, just graduated, it was so expensive I had to take a loan from one of my friends, unfortunately. That’s the only time I have ever taken a loan in my life, it was for my education in London for trading. It was expensive for me. So at that time, I had to actually travel to London, I had to find a place to stay. There were expenses of course and I got a solid education. I did my best to learn. Every day I was first in the academy, and I was always last to leave the academy.
A lot of the traders were really serious all the time. But one of the traders one day asked me, “Petko you don’t stay here to sleep, right? You go home, right?” I said, “Well, I don’t have a home here but yes, I leave the academy late in the evening and I always come first in the morning.” Because I really wanted to grab the maximum out of the guys. There were some really experienced guys that I’ve met and I guess I was very naughty to them, I was very eager to learn.
You Can Learn Day Trading Online
So all the time I was going to their desk and I was asking, “What are you doing? What is that? How?” I was interrupting their trading but I really wanted to learn trading at this time. It was a one-time opportunity so imagine the education there was a few months and I knew that this was my shot. This was the time to learn to trade for me. I said I’m on the spot, I have to learn to trade because when I go back home I probably won’t have a second opportunity to go back there to learn.
So I had to remember it all. I was taking notes and I was staying so many hours in there. Then in the evening I was just reading the notes and preparing the questions for the guys for the next day.
So the reason why I’m telling you all of that is that nowadays you don’t need to do that because everything is online. I mean look, because of the Coronavirus, even the kids are not going to school in most of the countries. They’re not going to school right now in Bulgaria, everything is online.
But when it comes to learning day trading, you have the opportunity nowadays to learn online. There is YouTube where there are so many useful videos that you will find. Of course, I know it’s really hard to decide and to choose the videos to depend on, or the strategies, because there are so many people just promoting different services, they promote brands, they promote brokers, there are so many scam people out there.
Find Reviews Before You Choose A Trading Mentor
So be careful when you are choosing the mentor from which you want to learn day trading. What do you need to look at? Reviews. Find reviews about the guy, the trading academy, or the place from where you want to learn. If there are good reviews then maybe you can trust that.
The second thing, look for some proof from the trader or from the mentor how he trades, what he does. Is he actually showing the screen like what I do in most of my courses?
Is he sharing his trading screen or not? This is why when I record most of my courses, online courses, I don’t show what I’m doing right now, I don’t show a lot of my face. Just at the beginning so the people can get to know me and then I share my screen and I say this is the setup, this is how I trade, here is my account, this is where I open trades, this is where I close trades, this is how I use Robots, and so on. I show the real thing because what a lot of instructors do is just keep talking.
They keep talking, slide shows, theory, you cannot make money out of theory. Not in trading. Maybe in anything else but not in trading.
Something very important, make sure that the guy who is teaching you is real.
They show you a real name and you know this is their real name. So I’m Petko, this is what I say in most of my courses.
Do Not Be Scammed
In my videos I say hello guys, this is Petko Aleksandrov or hello traders, this is Petko Aleksandrov. It’s me, I’m teaching, I’m showing, and I’m a real person. Why am I saying this? Because I don’t know as I said, the statistic about the losing traders, I don’t know about the percentage but I guess more than 50-60% or even worse, 70-80% of the mentors and the traders don’t use their real names.
They just want to sell some product until they get so many bad reviews that they cannot sell it anymore. Then what will they do? They will change the name, another brand, another way of marketing, and they start selling again. Just like the scam brokers work. This is how the scam brokers work. They establish a brand, they scam as many people as they can, and then they change the name, change the location, and open a new brand with a new name and scam the very same people they scammed before.
Why do I say that? This is because, daily, there are so many people being scammed. Thousands of people are being scammed from the Forex brokers. Be careful when you choose your broker and when you choose a place to learn day trading. But make sure you take a good education. Make sure you take it from a trusted place and make sure you have contact with the person. At the moment, we do our support, for example, in the Academy with the forum because I know all of these things from before.
Visit Our Trading Forum
So when establishing the Trading Academy, for example, which is one of my biggest projects that I’m very proud of, when establishing the Trading Academy, one of the things that took me the longest to think about and to come up with the solution was the support to the people, how they will have direct contact with me. Many of you will say email. That’s the easiest thing. What you need to think about, when I answer emails, no one else sees. So if you have a question for me, you send me an email, I will send you the answer but the same question maybe another 10 people will have.
So I decided we need a forum. One day it just clicked in my mind we need a forum because when you ask me a question, I answer, and so many more people will see it in the forum. They will add to this question or even they will answer to you instead of me and we build discussions, we exchange so many different ideas, and as well, for me personally as a trader and as a mentor, the forum is the proof that I’m a real person. Because if we’re scamming the people, then obviously we wouldn’t place a forum.
Because everybody will be writing there: Hey you know, Petko promised that but he did that. I will not be Petko, probably I will be John. The brokers never have forums. Why? Because they don’t want to have places where the people will start complaining. They can complain as much as they want at the email of the broker, nobody will see that.
So having a forum for me was a great idea that came to me where we will do much more useful support to the people and at the same time, the people will learn from one another. We will build the community with the forum.
You know, when somebody asks me on the email, “Is this for real? Are you promising 30 days money-back guarantee?” We have the 30 days money-back guarantee and somebody asks me in the email, “Is this for real?” Do you know what I answer? We have a forum. That’s it. If it’s not real, if we lie to somebody, obviously, he will complain in the forum and that’s it, we are done. We will lose our name. So forums are another great method to learn day trading.
Give Day Trading The Seriousness It Deserves
Of course, there are a lot of empty talks in there, there are people promoting different stuff in the forums, so please don’t promote anything in the forum. It will be deleted immediately as a post. But the idea of this lecture is because I want you to think of a trader or of trading as a serious business. Imagine this is, let’s say, programming. In order to find work as a developer, you need to learn to write code.
Maybe a lot of companies will hire you and they will teach you to do that but trading is a serious thing. It’s not a hobby, it’s not a passive income that will come just if you are clicking on your mobile to buy and sell on some platform. Take it seriously.
Trading is a serious business, you’re risking ready money. You’re risking your saved capital which is the most painful when you lose money.
First Practice With A Demo Account
Learn to do it in a virtual environment. All brokers offer Demo trading so make sure you learn in a virtual environment and when you’re ready, you can go for it. When you feel comfortable, when you have the skills and knowledge, don’t hurry to risk real money before you are ready for it. Learn to do it, guys.
Thanks for reading. If you have enjoyed the video, thumbs up and subscribe to our channel if you still haven’t. I will share more of my experience and my team will help you with answering the comments below if you want to learn day trading.