Can you really make money day trading and how much money do day traders make if you're new to trading or just been contemplating on getting into day trading, you must have wondered. Can you really make money from this career? This seems like gambling is day trading real or just a scam. We see many people on social media posting, big profits and very rarely any losses. All these seems extremely surreal, maybe sometimes overly glorified but risky at the same time, and that's why people with their newly received stimulus checks, are pouring them into the market, signed up for robinhood and ready to turn that one thousand dollars into a million in six months.

In this video, we're gon na be talking about the topic of day trading profits and losses known as p l's, specifically, why seeing regular p, l's and posting them could be a positive or a negative thing, and finally, we're gon na be answering the question of do. I really make money day trading. I'm also going to be sharing some personal stories from my six years now going into seven years of day trading journey. So, let's get comfortable sit back, get your popcorn ready and make sure no one is touching a trading account and, most importantly, remember to destroy that like button.

First of all, let's answer the number one question most people have regarding day trading. Is this career real or is it a scam? Is they trading just gambling, the short and sweet answer? Is it's a real and very profitable career for only about 5 to 10 of the people? Let's make it really clear, i'm certainly not saying everyone should day trade. No, it's the opposite. I think most people shouldn't day trade because, rather than treating it as a serious business and a career, most people are lazy and they treat it as a get rich.

Quick scheme like gambling, like my brother, said in my live trading with family video day trading is a risky career and most people should stay away from it. Now, let's talk about wins and losses in day trading and, yes, i did say, wins and losses because believe it or not. Everyone loses in day trading. It's just that less people are willing to share their losses.

I mean it's the same reason: everyone wants to post images with lamborghinis. Why would anyone want to be seen with a 2003 corolla or show up on youtube videos with barely any makeup right now back to the topic of how much money do day traders make well? The answer to that question is: it depends. We are traders who make hundred today thousands a day and even sometimes who make five six and even seven figures a day. Now before you get overly excited, oh, my god, you can make that much money day trading.

I need to go quit my job now to day trade. Please listen to the full story here. First, to make money in day trading, you have to be comfortable with losing first losing money in order to make profit is a concept, that's very unique to this day. Trading business day trading is probably the only job where you can show up at your office.

Computer and work very hard and give it all, and at the end of the day after eight hours, you actually lose money. I remember when i used to have a conventional nine to five job nine to five. Why am i kidding it's more like a 9-7 job, but whether i did a good job at the office was slacked off playing ping-pong all day, i'm guaranteed the paycheck at the end of the day, i'm never at the risk of losing money, just the risk of Losing my soul, when you see people post, profit screenshots on social media, it's important to know that, while both you and i may want the same profits, we probably don't have the same kind of risk. Tolerance.

It takes money to make money in this business day. Trading is a career that requires you to leverage your capital risk losing it in order to come out ahead to make that first 100 dollars, you may have to risk 20 to 50 dollars to make those thousands you may have to risk 500 and to make that Five figures of ten thousand dollars you might have to risk four to five thousand dollars, and that brings us to the next point. Everyone's wins and losses are all relative in day trading, if you're making just a hundred dollar a day consistently. That's amazing! Then one day you have a 500 profit, that's considered a big win relative to your account size and your experience.

But for somebody who is using 10 times 100 times your size and making couple thousands per day, their big win would maybe be twenty or thirty thousand dollars and again. At the same time, this small loss might be two thousand dollars and the big loss will probably be in the five figures. The point i'm trying to make is: don't compare your chapter 1 to someone else's chapter 20.. Everyone's wins and losses are all relative to their share sizes.

If you see someone else's big wins today and decide to double or quadruple your size in order to make the same profits tomorrow, that's probably not going to end so well. This was actually a huge mistake that hits very closely to home over here around three to four years ago, i was already profitable and making consistent gains from day trading. I was on a win streak. Momentum was picking up in my performance in my trading account and i finally felt like i had figured out myself and all my setups really well, then i started seeing other traders who are making two three times and even sometimes 10 times bigger profits than i am, And many times we're trading the same tickers at first.

The effect wasn't clear to me, but if you start seeing them on a daily basis and over a long period of time of weeks or months, it would start to have some psychological effect on you. At least it did on me so guess what one day after a very nice win, i see another traders who have been trading for 20 30 years, posted p, l, that's ten times bigger than mine. On the same ticker, i was like what the flying i traded. The same stock, the same price action, i'm smart, i'm a profitable trader.

I couldn't make the same profit as him, but instead i packed out i'm a loser here being proud of my five hundred dollars when i could have made ten thousand or more so. The next day, i decided to add a zero to all of my position - sizes, and just like i mentioned earlier, to make a thousand. You have to be comfortable risking 500 to make a hundred thousand. You have to be comfortable risking 20 or 50 or even more well, i wanted to make 10 times my daily consistent profit.

I wasn't prepared mentally and emotionally to take 10 times the risk and when you start becoming nervous and sweating over every single red tick on the stock that leads to some very emotional trading decisions. So you probably know where that story is leading to. I ended the day with more than 10 times my normal predetermined loss per day and that big loss wiped out over 60 percent. Of my account i essentially blew up, even though that story was not my biggest loss ever it was the biggest loss relative.

To my account, this is an experience i still hold very closely to my heart and i have a feeling many of you guys probably feel the same way and have experienced the same emotions, and this is the reason i choose not to post regular p. L, i'm not saying it's wrong to post profits or losses, it's the same as sharing your tax returns or personal information online, whether you decide to share your trading performance or not, it's nobody's decision, but your own. So let's talk about the benefits of posting p ls. Some people may find that it keeps them accountable by sharing it to an online social platforms.

Maybe it helps you connect with other traders and grow a following, and for many traders who have day trading education programs, big profits would be a great marketing tool that would most likely lead to more sales and revenue, and all these are fair reasons for posting. Your trading profits, like i said it's a personal decision and everyone has to weigh the pros and cons themselves, but think about this closely. Do you learn more about trading setups and trade planning from charts like these and perhaps recap videos with commentaries and executions or a big fat p? L screenshot like this for me personally, seeing others p l's did not help me learn as a beginner trader. In fact, it had caused me to formal trading on tilt and blow up my accounts, like the story i had just mentioned, and that was entirely my own fault.

By the way, you should never blame your losses on other traders, whoever click the buy and sell button. Following someone's trade alerts, or not, it's entirely responsible for their own outcome since seeing p, l posts did not help me as a beginner trader, and nor is it helping me now. Six years later, i decided not to post them. Actually, my first time sharing it on this youtube channel was a loss and then a profit.

Much later on, and of course, somebody would leave a snarky comment that my five figure loss was nothing then later on my four-figure profit, while trading remotely in the quarantine hotel was crap. Honestly, i don't know which world i have to live in in order to experience a life where four or five figures of us dollars isn't worth a lot. But do you see what i mean posting and seeing p l's? Don't do myself any good? I don't feel any gratification or fulfillment from prices saying wow, six thousand dollars good job, but at the same time the snarky remarks on both my profits and losses affect me and my trading negatively since we're all traders here, this risk reward ratio in the situation. Just doesn't make sense in trading the most precious thing after capital.

Preservation is your mental capital. You could probably tell that i'm an extremely optimistic and positive person. Most of the time i do find that having a positive outlook in life overall does make a huge, drastic difference in your trading trajectory social media could be beneficial but extremely draining at the same time. Yes, i do understand that if i start making videos with titles and thumbnails like how i made five thousand dollars within five minutes day trading or make a thousand dollars a day easy with a strategy, i could probably get a lot more views.

A lot more subscribers and make a lot more money, but if i do that, i would be sacrificing my mental capital that would affect my own trading performance and also that would just be betraying. Who i really am. I am 100 sure that those won't be the kind of video i enjoy making and i'm just not willing to do them. So i can make a few more bucks.

This channel you're watching right now has grown the way it has from a little more than 5 000 subscribers a year ago to now over 400, and all this is just from me standing right here sharing some of my honest insights, tips and opinions on day trading And, of course, we cannot forget the bad jokes. Those are the real selling factors here, i'm not a guru, i still have losses in trading and i'm not a hundred percent right all the time, and i share my charts executions and discuss my thoughts process in all. My recap videos to me personally and from all the feedback i've received. These recap.

Videos are way more valuable than screenshots of p l's. Last but not least, i'm still single and having these numbers out there in public eye has and will affect personal relationships. Whether you are a man or a woman, if you enjoy this video on the inside of both day trading profits and losses, please remember to drop a like at the bottom of the video. Thank you guys so much for watching.

As always, i'm the humble trader and i'll see you guys next week. Hey guys thanks for watching. I hope you enjoyed the video and the bad jokes. If you want to see more day, trading content make sure to subscribe and follow me on twitter and instagram for more.

If you'd like to trade with me daily and get my free weekend, watch list and trading journal make sure to check out the links below for more resources. Stay, green, stay, positive and i'll. See you guys next time.