I'm going to walk you through the skills and the aptitudes that you need to succeed as a Trader As you know, the markets are always changing, which means you need to be able to adapt the best. Traders Right now, have a combination of momentum strategy plus a skill set and I want to walk you through that skill set because it's not enough just to learn the strategy. You have to convert that knowledge into actual skill. Today was a crazy day for me.

I was working with far less than optimal circumstances I'm going to walk you through my day but I am telling you I had to overcome a lot and I was still able to find my way to profitability I Want to show you the potential in the market especially when you're firing on all cylinders and everything is dialed in which for me today was far from my reality. My day started with frustration I got up I set up my computer I got online, looked at the scanners and I saw meds was already squeezing up over 100. I was like here we go game time I punch the order and I realize in that moment my internet is not working correctly I got a partial fill and then I was completely offline. The reason I got a partial fill was because my quotes were delayed behind real-time Market data using the Starlink again I Wish I could give it like a you know five star review, but my experience with it has been it's so inconsistent.

I'm in rural Canada I have zero cell phone service but the Starlink, You know, when it works, it's It's generally good, but it's been so intermittent. so I started heading down the road I Drove out of the field that I was parked in, started heading down the road and I realized I was riding on a rim my back wheel, back tire completely flat. at this point it's about 8. A.M I'm on the side of the road getting out the Jack and the wrench and starting to take this wheel off the car.

and as I bend down to get under the car, what falls from my face but my glasses and they break completely. This time you could see they're back together with some tape but this is not looking good. I Wondered if I needed any more signs from the universe that today is not the day that I should even try to trade. but I'm no quitter.

I turned lemons into lemonade I've got the spare tire on the back. got the tire changed and you know what? I got to do I Got to teach my son how to change the tire of a car for the first time ever. How was it changing the tire? Good. It was good.

I got out some tape I put my glasses back together I Drove down the road to an open field right next to the ocean and I pointed the car due north I reconnected to the internet and now the connection was good. the gappers were strong and I was ready to capitalize on the opportunities in the market today. And I'm going to talk in this episode about the skills you need to be able to do that. and most of you are not going to be dealing with any of the circumstances that I dealt with this morning, but I was still able to rise above them and have a green day.

So let's start looking at the market today and talk about those skills and aptitudes. Alright, so bear with me here: I know I look like a pirate with these glasses, but I want to assure you that I actually know a thing or two about the market I took my first trades with real money when I was in high school and I actually traded in a simulator or I was a paper trading when I was in Middle School which was 1998 1999. So I've been in the market in one way or another for more than 20 years. I've been trading full-time for more than 10 years and I've been through many Market cycles and I know a lot about the skills required to be a successful Trader.

So I don't want to get Super Hyper focused on today and the price action of today because I want this to be an episode that you can watch a year or two years from now and be like wow, I this is this is all ringing true. So what? I want to tell you is that the patterns that we're looking at today. It doesn't matter that it's today, It doesn't matter the symbol it's on, it's it. These are patterns that continue to reoccur in the market and they have been reoccurring for as long as I've been trading.

And because of course I know because I've been here. but I Know that people have been trading these patterns essentially since charting was first developed, so this is nothing new. People were using Candlestick charts to trade rice Futures in Japan you know Generations ago. So this is a universal language of recognizing patterns.

That's all we're doing. We're recognizing patterns. So I would say one of the skills that you need in order to be a very successful Trader is you need to be really. Um, you need to be someone who's a fairly quick learner.

and you need to be the type of person who is able to pick up on patterns. So pattern recognition? That really is what we're doing. We're learning patterns. We're remembering them.

We're realizing. Wow, This keeps happening again and again and again. Whether for you know whether it's a positive thing that's happening or it's a negative thing we keep, maybe keep noticing that. Wow, these stocks keep failing or these are the stocks keep working and you have to be really quick at picking up on that.

So I feel like you need a very I don't know if it's a high level of uh, intelligence necessarily, but you need to be a very keen Observer of things that are happening around you and I I found like what's going on right now is that we're shifting from a colder Market to a hotter Market and a lot of Traders have been struggling with that because they're used to it being a little colder and they're not expecting these big moves. So just last week I said you know when the market starts to shift from cold to hot, you're going to notice your Winters are starting to get a little bigger and you're going to notice that you're selling your winners a little too soon because these stocks keep going higher So VFS uh just as a for instance, this is a stock last week that I was talking about I was like guys, we should pay attention to the stock. uh I ended up trading it on this day where it went from uh 11 up to forty dollars a share. The by the way, the founder of this stock made over 60 billion dollars on this stock on this day because of the number of shares he owns.

Okay, so stock goes up from 10 to 10 or whatever the previous day up to 40. and there are a lot of people who missed it completely. They're like oh, I can't chase it now and I kept trading it. This was my biggest winner of for this stock.

gave me the most profit for the entire month of August Another move this day. another move this day. this stock. I'm not kidding.

It went from ten dollars a share all the way to 93 dollars a share and I said I said last week, if you missed it, this is what you should do. Study this chart and the patterns. Print it out, draw on it, annotate it, and put those drawings all around your trading station because I am telling you this pattern will repeat. You will see it again.

Case in point, this week, let's look at Icct. I Mean there's so many examples from this week, it doesn't even. these are just. it doesn't even matter.

Like which stock it is because these patterns are the same. The stock is going up. It's the same general patterns. The stock goes from two dollars and fifty cents to forty dollars a share.

Then we had. um, let's see. we had today. We had Taop Taop this morning goes from two dollars a share to six dollars a share 300 percent.

Basically straight up. This is on a five minute chart. There were micro pullbacks on the one minute chart we had meds this morning which is one of the one. It was the one that I traded when I realized my internet was not working.

This stock goes from eight dollars to sixteen. And then we had a Uptd today. uptd. This is a a special acquisition company and this stock went from eight dollars to thirty four dollars a share.

Yesterday we had Adtx Adtx. This stock goes from uh, twelve dollars to over eighty dollars a share. These are huge moves. Okay, so these this this whole pattern though.

I Mean this has happened so many times. It doesn't even matter the name of the stocks because it's the chart patterns that we're really focusing on. So every time you miss an opportunity like this, what you have to do is print out the chart, draw it up, put those uh you know, charts around your desk. So the next time you start seeing a stock pulling away in real time, you look at and you're like oh, Edbl I should probably buy this on this pullback and you know where I got in it.

about a dollar seventy and the stock went all the way over to up to over four dollars a share. This is a huge move and this was a move that was on. Look at the volume. this this five minute candle.

Almost two million shares of Volume Four million shares of Volume 2 million. And that's only less because there were halts. Six million shares of Volume Six million shares of volume. I Mean Edbl today traded with over 70 million shares of volume.

So this is a stock that offers liquidity now. I'm trading on my traveling trading station totally subpar conditions I Still was able to pull 3276.83 out of the market. This was less than my daily goal you guys I I Wasn't impressed with my trading today I Didn't fully capitalize on the opportunities today for a variety of reasons that were really, you know, just it's just life. These things happen.

but my job is to help teach you about these patterns so you can develop the skill. That's what I want I Want to see you develop these skills so you can capitalize on these opportunities as well. Okay, so you need to be good at recognizing patterns. We talked about that that's important.

What else do you need? What are the other hard skills that you need in order to be a successful day trader? I Think number one you have to be good at solving problems and thinking of. Creative Solutions The reason I Think this is because you you have to be kind of quick on your feet and you know what just as like a again case in point. So you know today, um, dealing with having to change the tire on this car which I've never changed a tire on before. You know it Man, this isn't like about muscle or physical strength, it's about knowing how to do things.

We've all met people who it feels like my God they're helpless, like they're and it's not to be mean, but it's just like they don't have the critical thinking skills to solve problems in their life. and you're like, how did they even function I I can't even imagine. But in order to be a Trader you need to really have. you need to have it together.

You know what I mean Like you, you need to be a fairly, um, quick thinker. And it's a it's like mental coordination, mental flexibility, but also like hand-eye coordination. We're dealing with Visual and then physical response, seeing a pattern, responding reflexes. So there's like a coordination.

There's a degree of being comfortable with a computer being able to learn new software. You know all of these are sort of the skills that come together that help support someone being a successful. Trader. So usually when I meet someone I I feel like I can have a pretty good sense of whether or not I Think they have the potential to be a successful day trader usually I I Think that you have to be a little bit competitive and a little bit aggressive.

You've got to be a pretty quick thinker. You've got to be pretty fast on your feet. You've got to be someone who's comfortable taking some risks. I I Do think that you, you know this is a career that uh is dominated As We Know by men.

Habitually men are Risk Takers more than women. A woman can be great Traders But statistically, we know that men take more risks and it's well known that trading is risky. No one comes into trading not knowing about the risk, right? We know that trading is risky, so men are I think more comfortable with that risk. they're like oh, it's risky I'm going to go for it anyways so you know this is just I sort of think about like all of the things that come together to be a successful Trader and I'm you know I meet people sometimes and I think they'll be successful and then they're not and I'm surprised by it.

so just let me talk this out for a second for you. So in some of the people I'm thinking about who I thought would be successful Traders but we're not. What were they doing wrong? Well, there's one person that I'm thinking of right now who I think was held back by their own fear of losing money I Really think that's what it was for them I think they had everything that was going for them except that they had a real attachment to munt and they they also had a lot of pressure that they needed to make money and that pressure of needing to make money. You know it's the funny thing with trading.

the more you need the money, the harder it is to make. And it's so unfair because some of the people I've seen who have become very successful are people who already had some money coming into it. And it's not because oh well, you have. You have a lot of money so it's easy to make money.

It's not because of that, you can have a lot of money and just have a ten thousand dollar account or something. it's because of mentally. they didn't need the money so they were able to focus genuinely on these patterns and trading them the best they possibly could. They were able to focus on um, you know, being patient when the Market's not hot, just resting sitting tight right? It's the people who are desperate that force it that over trade.

they get frustrated, they refuse to quit that dig themselves these big holes. So I would say that a uh, something that is going to help will probably make it more likely that you'll be a successful Trader would be having multiple sources of income and being Diversified so that the money you make from Trading becomes just that much less significant and I know that's frustrating to hear. but I really think that it's true. The more you can diversify, the better the better off you'll be.

So that was one person. Um, so I think his two issues were number one. he was tight on money, number two. um, he was.

he just had a relationship with money. The Creator real fear of loss. Another person that I'm thinking of who I thought would be good um, but isn't um is someone who seemed to me like a sort of good measuring risk, calculating risk. but uh, but but honestly, if I'm gonna be honest, um is not aggressive enough, not aggressive enough.

You've got a battle in this market. You've got to fight. When you've got profit you might have taken off the table. You can't just let it ride and just wait.

and I hope it goes to a million you've got to pay yourself. So there was a little bit of a uh I think there was like sort of a just a sort of final hurdle of like take that money out of the market and cut it will cut losses. You have to be aggressive with taking profit, but you have to be aggressive with cutting your losers. you cannot hold in Hope What ends up happening then is you have a negative profit loss ratio because every time you have a trade that that's a loser, you just keep holding it another person I'm thinking of uh who I thought might have been very successful um boy really really had a had a problem because they were trading in a retirement account and they just kept thinking well you know the stock, these stocks will go back up so if they got into stock and it went down they just said now I'll hold it, it'll go back up and you just cannot think that way that is.

This is trading. It's not investing, it's trading. You are trading a stock, getting in, getting out so you could tell the way I'm talking about it. you know this might resonate with you and you might be like, okay, I think you know I might be this type of person.

The best way to find out is to start practicing trading. Do it in a simulator because that's a safe environment, right? Don't risk real money practicing a simulator. See how aggressive you can be? See how fast you can be. Get in.

Get out. get in. get out. Take a few trades a day.

Study these patterns and listen. I have so many episodes right here on. YouTube I've got a ton of free classes that you guys can watch I mean I have my my full-length curriculum at Warrior Trading The Warrior Pro curriculum which you're welcome to go through that's very carefully laid out but just consume as much of this content as you can on YouTube that I've put together. The one thing that'll cost you is that every Trader is a little bit different and although we might, you know all momentum Traders might trade to the long side or whatever.

We have different nuances trying to learn from a lot from people at once. Um, you know, sometimes you'll be learning techniques that are not. They're kind of. They don't really overlap.

well, they're like, sort of. They might even contradict each other in aspects. So don't try to be a jack of all trades and a master of none. Master One Strategy one I Did an interview with one of my students, a profitable student who has imagined.

He said the biggest thing I would tell a aspiring Trader is Master One setup one pattern. one set up on one type of stock. not one individual stock, but just one like type. You know, a two to twenty or whatever.

And because once you get good at one, that's enough to survive to keep your head above water in the market, right? This is the blessing in the curse of trading. You could spend years struggling to consistently make ten dollars a day, But once you are consistently profitable, making 10 a day the difference between 10 and 20 and 20 and 40 and 40 and 100 and 200 and 400 in a thousand. The only difference is scaling up your share size. and it's incredibly frustrating when you're the one trying to make just twenty Thirty forty dollars a day.

You're not being greedy, you're not shooting for the moon, you're not trying to do anything crazy, you're not trying to drive a Lamborghini or fly in a private jet trying to make an extra hundred dollars a day. Come on. And it's once you get there, nothing's going to stop you at just making 100. You're going to go to 200, 400 a thousand and you're going to hire, right? So it's just that's sort of that that it's a Tipping Point and it takes a lot of time before you go over that.

Tipping Point But once you're over it then you're good. So again you know I Think my job. I Always try to send the ladder down to help you guys who at the beginning of your learning curve. I Wish there were people that could have helped me when I was learning.

So if this helps you at all, hey, hit the thumbs up. Do me a favor. These are free episodes I Upload on YouTube You hitting the thumbs up helps my YouTube channel. So I really appreciate it and just keep studying.

Keep watching these episodes. Keep studying so you know again. I Think in terms of trading, there are certainly some soft skills. There are some really required skills.

There are some aptitudes that you need and I hope that as you heard me describe them for some of you, this resonates and you're like I think this might be me and for some of you I'm happy to talk to you out of trading because I don't want you to have a bad experience that's not good for you. it's not good for you know it's just there's no point. So in any case, if you want to actually try doing a simulator, do it in a safe environment. And for those of you guys who've been trading for a while and you're struggling, you have to ask yourself what is the difference between what I'm doing and what all those other guys are doing who are making money because if I was doing everything they were doing, I'd be profitable too.

So where's the disconnect? Am I too slow am I chasing am I over trading Am I holding my losers too long and this takes some real self-reflection a willingness to possibly admit that. you know maybe I'm lacking one of the skills and aptitudes to be good at this. Can I learn them? Maybe Maybe you can, you know, but this is the market is like it's almost like you know. it just kind of comes back to you.

It's you and the market. That's what I love about it. but it's also kind of what I hate about it because uh, when I lose, it's like it's just like I'm a loser you know I I I stepped up to the plate I fought a battle and I lost today and there's no one I can blame but me. uh.

but then when I succeed, it's like all right there you go so you know what you're doing and it is. It feels really good to solve that puzzle. Trading is like a puzzle. It's like a game.

and every day where I walk away with a little more money than I started I feel like I've won the game. And one last thing that I'll say is every single day you're doing one of two things: You're leaving money on the table or you're giving back profit today I left money on the table But life is meant to be lived. Trading is important. It serves a purpose.

We trade to make some money, but most of us are not going to trade 12 hours a day, you know, or 16 hours a day. Whatever it is from 8 A.M or from 4 AM to 8pm the full Market hour of Market Day I Encourage people to make money as much as you can within a sort of your set time and then walk away. If you start giving back profit. if you give back more than half, hard stop.

walk away. Never do everything possible to avoid going from green to Red. So if you make 2 000 then you lose half. you're up a thousand.

Walk away right there. Okay, now take it from me, you start giving back more. you start getting emotional. But what I really like doing is I like walking away on a high note.

So I have some some winners, winners winners and then I just say hey, you know what I've done enough today I've made enough and right now I'm in rural Canada and making that three thousand dollars I mean I Was talking to a fellow a farmer down the road and he's saying you know he's driving the A grader Um, and he's gonna. he's gonna go work for the town because he needs to make enough money to buy a new boiler for his house and you know I I Can't help but feel incredibly fortunate for the opportunity that I have for the skills that I have that. I've learned over the years to be able to trade in the markets. A tremendous amount of money can be made as you know or lost, but if you've got the skills, you've got the aptitude there's There's a lot of potential here.

So I hope that I'm able to help you sort of think through this process of converting the knowledge into skill. Everything you know when you listen to these episodes you're consuming. Now you're gaining information. You're sort of turning it into knowledge like that you actually own.

You know it's okay. I learned something and I retained it I've turned that into knowledge that's in me now. now. how do I turn that knowledge into no skill? It's it's one thing to, in theory know how to change a tire, right? Well, you change.

Tire you unscrew those and it's another thing to actually do it. Same with trading. So right now you're learning the theories of trading by watching an episode like this. It's another to actually turn that into the skill of being a traitor.

So stick with it. It's a journey. Trading is a marathon. it's not Sprint But you've got your whole life and the markets are going to be here.

so you might as well get started really investing and focusing on learning the right way. Lay a strong foundation for yourself. I Hope you found this interesting and helpful. If you do, do me a favor and hit the thumbs up! I Appreciate it.

Subscribe if you'd like and check out some more episodes. I'll put a link to my playlist um right here somewhere on the screen so you guys can check that out and I'll see you back here for the next episode real soon.