Hey hey, what's up my friend, so in today's episode i want to share with you what you can expect in your first year of trading, so for most of you watching or listening to this right now, you're, probably new to trading trading for less than 12 months. Not sure you know what to expect, so let me break it down for you number one expect confusion right in your first year of trading, you'll be bloody, confused right, there's so much technical, fundamental and everything out there to learn about right. You have technical analysis, rsi macd, chart patterns, candlestick patterns, price action, trading, day, trading, swing trading trend following blah blah blah and you will be swarmed. You will be overwhelmed.

You will be confused, so here's the thing right to help you sort of get out of this. This uh, this, this overwhelm of knowledge, is to first and foremost, define your goal for yourself. What do you want out of trading? What are your circumstance, for example, someone who wants to trade right to make let's say 10 to 15 a year without spending time. You know glued to the monitors, then they could, probably you know, consider swing trading or position trading trading where they hold their trades for a few days to a few weeks or even a few months.

So this is how you kind of you know, filter out right from all the noise out there. You first and foremost, have to define your goals and the circumstance that you're in once you can define it. Then you can find the right trading methodology right to suit your needs. All right.

Second thing: you will face multiple blown up trading accounts, especially if you are dealing with leverage like you know: margin trading, cfd trading, fx trading. There are, there is leverage involved in and the problem with this is usually due to the lack of knowledge. You thought you know you just click buy. You enter a position size that you think is a nice round.

Number 10 lots. Let's go on on a thousand dollars account, then. What happens is that you know you will you know end up blowing up your trading account because you don't understand how leverage works so to again right to fix. This is very simple.

All you need to do is understand. Risk management understand position sizing the math, it's not rocket science. I think you know it's pretty elementary math understand it right and you'll never blow up. Another trading account again, and i would say this is one of the most important things right to understand and apply in your first year of trading, because once you nail this right right, your risk management.

Once you nail it right right, your subsequent years in trading right, you shouldn't face. You know another blown up accounts ever again, unless you know due to psychology and stuff like that. Okay, the third thing that you can expect is uh no consistency right, because in your first year of trading, you have no idea what you're doing one moment your day trading next moment, your swing trading next moment, you come to trend trading, all the different tools and Indicators on your chart right one day, it's rsi next days. Chart patterns following week is price action trading.

Then it's back to macd, no consistency. Okay, so the way to to to get consistency in your trading is first and foremost right. Approach trading as a business have a trading plan. So what this means right is that, every time before you put on a trade right, it has to meet your criteria.

It has to follow your trading plan, so i mean in this episode. We don't have. You know a lot of time to explain what the trading plan is, but generally what a trading plan should tell you is under what market conditions right? Will you enter a trade right? When do you enter a trade? How much risk do you put on a trade right if the market goes against you? Where will you build up of that losing trade? If the market moves in your favor, where will you exit your winners? This is what a trading plan entails and once you have it in black and white right, you can always refer to this trading plan before you put on the trade and what's going to happen, is that in the long run, you will get consistency in your training Because when you follow your trading plan, which is a set of rules, okay, when your actions are consistent, you can't help right but to get consistent results. Okay, so that's how you get consistency in your trading number four uh in your first year of trading.

You will think that trading is easy right, because you know you might get lucky you put on a few trades and they're all winners, or you may know a few hundred bucks here and then hey trading is easy. Man. What's raining is talking about friday. It's just right and yeah, it will happen to you.

It happened to me, it will happen to, i would say all of you who's, listening or watching this right now, because you know there will be times where you get lucky and you have a few winning trades and you think you can quit your full-time job. Trade full-time and then you know thinking that trading is easy right. So that's the the fourth thing that you can expect right. That trading is easy and then we, the next thing you realize, is that, after a series of losing trades, you'll think that trading is a scam.

Where you know you, you have like four or five losers in a row. Man markets are rigged. Man, the broker is against me man. This is a scam, okay, so so be prepared for it as well right.

You might think that trading is a scam and and no it's not a scam, because again it's all about probabilities. Okay, so just imagine you have a coin in your hand. Right now, any coin. You know that there's a 50 chance, it's gon na come up.

Hey 50 chance is going to come up kills and if you are free, if you want to do this exercise toss the coin 100 times right, you know just take some time, go to an isolated room and toss the coin to yourself, but don't let you know People see what you're doing they might think you're crazy. But but if you do the exercise and you write down every outcome of each of the hundred coin toss, you realize some patterns right like sometimes you might get four hits in a row. Sometimes you could get five or six tails in a row and that shouldn't be a surprise to you because again, you're dealing with probabilities down here, just because you have a 50 chance of coming up - hey, doesn't mean that every time you toss the coin, it's gon Na be hit the next time it's gon na be till, then it's gon na be back to hit. No, it can be a series of hey it's a series of tail and it's the same as trading right.

If your trading strategy has a 50 winning rate, you will have a series of winners, a series of losers. This is something that you should expect: okay and and yeah there that that's pretty much the five things right that you should expect right. The five things you should expect in your first year of trading and before you know it your first trading year is over and before you go, i just want to share one thing with you is that anything worthwhile in life pursuing anything that you want to reap The rewards right you have to go through some hurdles right, nothing is being given to you on a silver platter. Unless you know you're born in the rich family, blah blah blah.

Let's not, you know, go down that road because for most of us we're born in an average middle class family, maybe some of us even from a poor family and and really to achieve anything worthwhile in life. You have to fight for it. It's like think of it, like you know, a pyramid right in the pyramid at the base of the pyramid. Right is where the most number of you know: retail traders or people who are interested in trading.

They will get involved in trading, but, as time goes by, as the years goes by, you can see that the permit at the top right it gets slimmer and slimmer. So you can look at it right, as you know, as the years goes by, many traders will just drop out like flies right after you know, blowing up a few accounts to give up after you know, being confused by all the technical jargon they give up. After not, you know understanding risk management to give up. So, after a few years right, there's only a handful of percentage of traders left in this business and if you can persevere, if you can fight to the end right to get to the top of the pyramid, it will take time it takes work.

It's not easy, but if you get to the top right, you realize that those work, those obstacles that you go through, it's worth it right so so this video is really to manage your expectations to know what to expect in your first year of trading. We are all going to start at the bottom of the pyramid, and the only way to get to the top of the pyramid to reap the rewards right is that you got to you know, put in the hard work right. You got to do the work you got to endure. You got to persevere, you got to you know, do the right things right, the stuff that i just shared with you.

Those are the things that you should expect yourself to be doing. Okay and hopefully one day you get to near the top of the pyramid, you get to reap the rewards and you know i'll be happy for you. So with that said, i wish you good luck and good trading. I will talk to you soon.

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