The Truth About Day Trading Forex – Why Most People Fail

it's just like a video game you start at
level one and over time you reach level 80 and you're having a bad day trading is
ridiculously hard and the internet is absolutely full of videos like this
of random people doing Forex Trading for ' try a week or with a thousand dollars or
with fifty thousand dollars if you actually watch these videos you see
almost every one of them fail or lose all their money it is now to the point
where day trading simply feels like a scam. I'm here
to tell you honestly and honestly you can do it if you put in the work, so the question is what is your
desired outcome in life and do you have what it takes to put in the effort
to get it [Music]
welcome back to the channel everyone my name is artie and this is the moving
average a show where we discuss everything day trading to keep you
profitable the first thing you really need to think about is your
desired outcome do you want financial independence do you want
gas or groceries buy with out to ever worry about how much is in your bank
account, do you want the respect of your peers and family members or do you want
the respect of random people on the sidewalk or is self respect more

I can tell you one thing for sure that I learned once I got
money in my bank account the stress melted away and at that point I
found myself respecting myself more because I understood that I
could earn that money that I was able to provide for my family and that I
gained this sense of masculinity as if I did my job and did my duty in a good
way, so the first thing I want you to think about is what is the desired
outcome you want from this whole process, please write it down right now
or write it down in the comments section because I'm going to ask a lot of
questions like this along the way so that you're more involved so that you
actually know what you're looking for now when you day have chosen trading as your
path to success and financial freedom what is the likelihood that you
will actually achieve that goal, so now if you look at the statistics on the internet
about retail day traders , the statistic is that 95 percent of retail day traders ars
fail so what will make you or me different than the general statistic
I don't know about you but I can speak for myself the fact that I was able to
dive into this understanding that it was the statistic and I don't want to
share not being of that statistic has given me a longer time Horizon and the fact that
I like to consume information that really intrigues me and just like anything
I know that if you want to get good at a certain thing you have to have a
put in one thousand ten thousand one hundred thousand hours to learn and practice that thing
, so e.g.

a person who
plays the violin like this [Applause] didn't get this way by
watching a seven minute YouTube tutorial and then banging it out, no, they spent years if not
decades trying to master their craft and to get so good like that when you see that
type of video and you think wow that's super cool I'd love to learn how
to play the violin but then when you start you learn scales like
and you feel like you're not successful because you don't reach the level
of the thing you watched in a seven- minute YouTube video, so to increase the
likelihood that you will succeed, what you need to do is practice
daily and learn those two things together daily about ' a longer time Horizon
will get you in a place where you feel amazing about the achievements
and accomplishments and progress you've made it's just like a video game
you start at level one and over time you reach level 80 and you are
the only difference is in a video game it's fake nothing it doesn't do anything for
your life e, but if you do this in real life, you can actually end up with a fat bank
account and just a side note with that 95 failure rate which means
that only five percent of the day traders succeed I've seen personally in my
own teachings and in the community that we have is that we're moving that number from
five percent to 18 and it wasn't even everybody involved, so you see that type of
video about being a violinist and getting really good at it , so what's the
time lag between knowing now what you know and where you want to be
and knowing the things that are going to get you to that area for me it was two
years because I didn't have a path I didn't ' didn't have a program I didn't have
steps, I didn't have mentors, I didn't have the right education, the YouTube
videos were [__] on the internet when I looked at this stuff, so
I essentially had no structure sure, so I was just like kind of going into it with
this great ambition but then failure after failure after failure after
failure there was no structure so my suggestion is there are two different
ways to look at this what you can do is trust the fact that all the
information I have on my YouTube -channel is sound and if yo you learn it and
practice it over a longer time Horizon it will eventually click and you will
become a profitable day trader the second option follow the ttf
roadmap which is part of that community I discussed earlier , but its
essence is still the same get educated practice for a long period of Time
start with a small 4X account and try to trade real money because it does
things to your brain, then after you demo account to demo -account after
demo account per month and you show profit, then you can really get
in it, but it's a road map you have to follow it's the education it's the
practice it's the testing it's the journal and then you will exit this
area so if you ask me Artie exactly from when I start now to
where I want to know how long it will take me I can't give you the
right answer because it's different for every person for me it was 18 hours a
day every dear day to learn random facts and then put them together in my
o With structured form you have a bit of an edge on me because you have more
defined solutions on this YouTube channel, but in general I would say 90 days
takes three up to four weeks to learn the information take a month to demonstrate and
test and strategy and then another month to confirm what you
demonstrate and test in that month and by the end of that 90 days you should be on a to be in a much
better place than you are now , you may need to extend that demo phase
for another three to four months.

pexels photo 7173040

it's all up to you, it's the same thing with
exercise if you 've been following this channel for a long time
, you've seen my weight fluctuate dramatically from what I
looked like just a few months ago, and so what I did was I committed and committed to
something and I spent those 60 90 days eating healthy and
exercising and I didn't see the results every day but when I look at
this picture now versus how I look now there is a dramatic difference and you
don't see it on a daily basis but when people start noticing and saying
to me Oh I've lost so much weight or you become so financially successful
where you can go to a dealership and buy a new Toyota can buy Camry, you're going to see
that difference between where you were and where you are now, so the last
thing I want to discuss is the amount of effort and sacrifice you have to put in
to become a successful day trader or whatever you're into life wants to do.
effort you are going to have to put in is equivalent to a
lot it depends on you really are you really really really smart do you like
analysis as what I have seen in the last few years is that when I
teach an engineer how today they act very analytical and like to be precise and that's why
they find success much faster than a normal person so if you're an
engineer your time horizon is much shorter but if you're not and you're
just a random guy like me you go have to put in what you're going to nna
have to unlearn bad habits and that's the sacrifice advice, that's the amount of
effort you have to put in that you need to sacrifice your time so that the
things you can do to sacrifice your time to the doing things you actually
want to do like riding your bike playing video games going out with your
friends drinking on the weekends these are things you are going to have to
sacrifice to get from where you are now to where you want to be there is
no quick fix for finances not Independence and financial freedom the
quick fix stuff is 100 percent a scam and the shitty thing about it is
you saved up five thousand dollars and so you find this get rich quick
thing and it's like dude just give me the money and I'll make it I will
double it for you I promise you have a guarantee here are a bunch of testimonials
and because you want it fast and because it is a little effort
and a very very small sacrifice and a very short time Horizon that thi ngs sounds so
tempting to you that you give your money freely to that person and then the next
day it's gone there is no contact with that person and you literally blew a
year's worth of your savings like get rich quick
doesn't exist I've spent decades trying to make money I'm finally in a position where
I'm making money through multiple income streams so whatever you choose
to sacrifice in your life you have to think about what's good for you and
what is bad for you if you have to save a little money and j you have to sacrifice you
know eating out or drinking expensive coffee do it if you are really bad at
time management and you watch two hours of Netflix or YouTube or Tick Tock or
Instagram roles a day you have to sacrifice you have to stop getting those
dopamine fixes that you do the self-indulgence and suffer to get what
you want the only time you have to sacrifice is the time you waste on other
things that are not, they are not beneficial to you, good in the long run
those thi ngs you do are not beneficial, so if you don't
want to be like these Schmucks who blow five thousand or ten thousand dollars in a
week because they think they can make money hand over in a short
time I want what you need to do is write it down again on a piece of
paper what is the outcome you want and
what do you think will be the probability that you will succeed and then think about the
time it will take to get you from where you are now where you want to
be and what you will have to sacrifice to get it, I just got
you a lles explains what you need to know to make an informed decision whether
you just want to stop and I don't know how to chop wood or start a
t-shirt business or if you want to get into Forex and day trading long term, have you
all the resources you need on this YouTube channel it's going to take
you a long time to sift through all of the videos there are 145
videos on this channel just click on the library and go to town if you are
self motivated, you can totally do that if you want more structure I
've referred to this a few times in the video but what you can do is sign up for the
trading floor this is a company I founded with two other partners and we
has created a structured learning system for you to get from point A to
point B by being involved in a community so if you want to do
that it's in the link below it will save you a lot of time down the road
the price is not like every other 4X course you've seen it's
1997 it's 20 GBP a month so if you have a
busy schedule and you want to save a lot of time I suggest it is fair enough if
not and you want to do it again on your own all the videos on this youtube
channel are free for you you will all learn what you need to know not
everything there is but everything you need to know about how to become a
successful day trader how to read charts how to read price action how to journal
why you sho uld demo how to to demonstrate what Brokers are good what Forex pairs are
good what time frames are good just go through the videos go through the
library watch each of them buy some notebooks and take notes
throughout the process trade and demo
and practice as much as you
can can invest as much time as you can and it will shorten your time

in a very short
amount of time because they did it the wrong way if you need help getting
started check out this beginner playlist here and it's going to get you started
in the right direction and if you got some value out of this video
love the way i learn make sure to drop a like on these videos
and subscribe if you haven't already thank you so much for watching and we'll
see you in the next video

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