25 thoughts on “Why most day traders lose money #daytrading”
It's all about percentages. Sure if your account is $100 that's pretty small but if you average 10% monthly that's really good. All you got to do is fund that account with outside cash. Compound interest is like a rocket ship. It's a bit slow off the launch pad but once it's in the air it goes very fast
It doesn't matter whether or not you make 20 cents or 20 thousand dollars, the skill is all that matters here and when you can be profitable month over month, year over year, you win.
Scale up, here is how I do it (currently with a 10k account started with $500 after years of blowing accounts and learning) *I trade SPY options 80% of the time.
– 1 Next day Expiry ITM option (usually risking about a .50-.60 MAX stop loss on a $180-$200 option (so around a $30-$70 risk tops)
– I target my next zone or level on my Chart from where I entered at (usually a full $2-$3 move) which is easily done on SPY most days. (I recommend charting with the top down approach (daily, 4H, 2H) for zones and levels and then touch up at the end of each week.
– after I 3X my account, I add another contract.. so once I hit $1500, I was trading 2 contracts with the same risk perimeters.. so on and so forth
** Here are some additional rules I go by each day**
If I enter a trade and it stops me out red, I’m done for the day, no matter what..
However , once I hit 35% profit on the option, I move my stop to just above break even, like 1-2 cents to cover any slippage, either it stops me out small green or I hit my next level or some target..
Done for the day.,once I did this everyday, like a robot… trading completely turned for the better.
Consistency is the key 🔐 I appreciate your vids Ross you continue to spread some of the most knowledgeable information on day trading out their while keeping it realistic 🤙
I've been following Ross for years. My big growth came when I started taking 1-2% profits over and over, sometimes a dozen trades a week. Those $24 profits became $240 profits in six months, still taking 1-2% on each trade.
When I saw the video on your biggest loss on your birthday I realized trading is one of the most difficult things you do. I believe you should start telling people that first
Almost all retail traders will lose money. Including almost everyone reading this. But you won't listen to me, because you think you are different. You are going to enter a gunfight with a butter knife.
Please remember to quit before you lose everything.
Hey Ross, so I'm super happy with 24 bucks. I mean robinhood doesn't charge fees on options so if I start with 240, which I did, and I make 24 bucks that's amazing. That's 10%. Honestly I'm happy with 5 bucks. Due to this mentality I've turned 240 into 560 in 7 days of trading. I'm pretty excited cause I just get out if things go red, I don't like the idea of fomo so it doesn't really bother me.
It's all about percentages. Sure if your account is $100 that's pretty small but if you average 10% monthly that's really good. All you got to do is fund that account with outside cash. Compound interest is like a rocket ship. It's a bit slow off the launch pad but once it's in the air it goes very fast
Ross is the man. Been watching him for years. Love this guy. 💯 Percent right
Anybody else make sense of this?
It doesn't matter whether or not you make 20 cents or 20 thousand dollars, the skill is all that matters here and when you can be profitable month over month, year over year, you win.
So if you have a smaller account it's just going to take you longer to be able to make enough money to day trade.
Scale up, here is how I do it (currently with a 10k account started with $500 after years of blowing accounts and learning) *I trade SPY options 80% of the time.
– 1 Next day Expiry ITM option (usually risking about a .50-.60 MAX stop loss on a $180-$200 option (so around a $30-$70 risk tops)
– I target my next zone or level on my Chart from where I entered at (usually a full $2-$3 move) which is easily done on SPY most days. (I recommend charting with the top down approach (daily, 4H, 2H) for zones and levels and then touch up at the end of each week.
– after I 3X my account, I add another contract.. so once I hit $1500, I was trading 2 contracts with the same risk perimeters.. so on and so forth
** Here are some additional rules I go by each day**
If I enter a trade and it stops me out red, I’m done for the day, no matter what..
However , once I hit 35% profit on the option, I move my stop to just above break even, like 1-2 cents to cover any slippage, either it stops me out small green or I hit my next level or some target..
Done for the day.,once I did this everyday, like a robot… trading completely turned for the better.
Consistency is the key 🔐 I appreciate your vids Ross you continue to spread some of the most knowledgeable information on day trading out their while keeping it realistic 🤙
❤❤❤😅😅😅
I've been following Ross for years. My big growth came when I started taking 1-2% profits over and over, sometimes a dozen trades a week. Those $24 profits became $240 profits in six months, still taking 1-2% on each trade.
Why not just trade Forex?
When I saw the video on your biggest loss on your birthday I realized trading is one of the most difficult things you do. I believe you should start telling people that first
How did you know about the conversation I was having with myself today?!
1000% correct. Also, reading this and hearing this video – you will still lose. It’s not for the faint of 🤍.
Thank you
Almost all retail traders will lose money. Including almost everyone reading this. But you won't listen to me, because you think you are different. You are going to enter a gunfight with a butter knife.
Please remember to quit before you lose everything.
I just look at percentages and not dollars.
I started a momoo acct with $1500 4 months ago, and have slowly grown it to almost 6k 😊😊
Don't look at your $ look at your %
Rock solid advice 💯
Your right on multiple levels , wish i could afford To adavngage my Self but cant afford that at rhis time ? You should raffle a free scholarship
Hey Ross, so I'm super happy with 24 bucks. I mean robinhood doesn't charge fees on options so if I start with 240, which I did, and I make 24 bucks that's amazing. That's 10%. Honestly I'm happy with 5 bucks. Due to this mentality I've turned 240 into 560 in 7 days of trading. I'm pretty excited cause I just get out if things go red, I don't like the idea of fomo so it doesn't really bother me.
What the degens hear: "so you should Yolo otm 0tde options to finally catch your break"
Ross
Very good ross
You’re 100% right brother… you might get lucky and get 1 dollar out of the market on a random day but those .15 or .20 cent wins is where it’s at