A question we get asked when someone is just getting started is when is the best time to pay themselves as a day trader. I wanted to share as a day trade NOT as an investor, why paying yourself might not be the worst idea!
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Thank you for the support, the best way to reach out to me is through our private discord chat, please DM me.
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DISCLAIMER: Please note that i do not ask for any information. I always encourage our members to trade ONLY what you understand and never based on anyone's opinion. My videos are for entertainment purposes only.any questions to message me as i would love to be a part of your success.
1.📚 Free Day Trading Group: http://bit.ly/techbudsfbgroup
2. 📈Ready to learn? Full A-Z Day Trading Blueprint: https://learnplanprofit.net
3.📗Free Day Trading EBook: http://bit.ly/E-TIPCHECKLIST
● LOOK LIKE A DAY TRADER!
4.👕 Techbuds Apparel: https://techbudsapparel.com/
● FOLLOW ME ON INSTAGRAM!
📸 Ricky's Insta: https://www.instagram.com/rickygutierrezz/
📸 Techbuds Insta: https://www.instagram.com/techbudsolutions/
For those who are interested in Trading & Investing, I encourage you to join Our Free Trading Group of over 200,000!
Thank you for the support, the best way to reach out to me is through our private discord chat, please DM me.
If you have any suggestions for future videos such as Day Trading, Investing, Stock Market, Real Estate, Car Sales, Robinhood, TD Ameritrade, Crypto & bitcoin, Entrepreneurship, Forex, Online Marketing, Online Sales or fun daily vlogs. Please let me know.
DISCLAIMER: Please note that i do not ask for any information. I always encourage our members to trade ONLY what you understand and never based on anyone's opinion. My videos are for entertainment purposes only.any questions to message me as i would love to be a part of your success.
so much useless info
Speaking of taking losses. Can you please make a video on the wash sell rule and how it can impact a day trader
What’s up dude. If you qualify for trader status and elect m2m do you have to pay SE tax???
Who's is here trying to figure out what to do with their AMC profits once the squeeze happens?
You said nothing waste of time
Would you recommend taking 40% of what you pull out, to another savings account for tax purposes?
Can possibly give your intake on the WASH rule while your day trading small account & big one and how to defend yourself around this thanks Rick
Love your energy, knowledge, and how humble you are! Thank you for sharing I was wondering this myself. Thank you!
You are so great. What a great channel what great advice. I admire you because you seem to have a lot of compassion and that makes for an excellent teacher. I wonder how many other people you have helped outside of YouTube with the helpful honest attitude. Keep up the good work
Started trading in April no experience with 15k. Had one bad loss and will use to offset gains. But I’m at 46k roughly. Not spending a single dollar until I’m at 100k as my goal
Well if your just starting out trading. I deff wouldn't quit my day job. Just sayin.
As a young trader…. Always Re-invest. It will pay you enough in the long run.
💯 comments
Totally agree bro! I have a 12 year curve on trading and no I am now in my PRIME; but it took 12 YEARS! Most cannot grasp this and will not put in this much time if all they look at is the money. LEARNING FIRST is soooooooo more important than the money. Unfortunately most have no clue about money management with increasing account sizes etc., they will blow an account very fast because they did not learn MONEY MANAGEMENT and STICK TO THE RULES!!! "thumbs up"
Pay yourself 10 to 25 percent of you profits. Can't go wrong 👌
So when I trade options is it not a good idea to do 50/50. 50% profit and 50% back to investments (depending how well the stock goes) have not paid myself yet at all everything I do goes back to my portfolio
Love this bro. Thanks for the insightful info! 🙂
I started with $500 in my account, and now I have 1.1k. I think it is better to leave the money in there until you can get past the PDT rule unless you really need to, and just because you have more money in your account doesn't mean you have to take bigger positions. I am still taking $500 or less worth of stock on a single trade.
Do I need a Mac 🖥 for the Learn profit plan?
I say keep growing your account until you have enough to take profits but never have to deposit. My goal is to start taking profits at 5k. Started with 1k and almost to 2k after two months with a cash account. It takes time to get comfortable trading more and I don't want to trade huge amounts. Just want to make a couple hundred a day and I'm good.
My $0.02. Money and risk management are your #1 job as a trader, especially when learning. I started investing first and moved into trading and options and didn't have my risk management game down and got reamed last quarter of 2018. I was able to save things this year by honing my management. If I were to do it over again, I would have at least 2 accounts, one account for trading and another for the core/dividend positions. Profits from the trading account get put into the core account at certain intervals (monthly is probably good) and maybe a smaller portion to pay yourself.
Awesome, Great approach never thought about it this way, Thanks
Good question! Thanks for the vid
wise young fella… 🙂
When did you start pulling out money? What was your strategy for reinvesting your profits too?
Many traders have not been through a long term ressesion. Compound all you can.
Can someone tell me please what to use instead of Robinhood in Europe
Best platform to trade
in 1 month as a new trader I grew my account 130%…. then the next WEEK I gave all of it back
Learned to buy up today. It worked and made 5 winning trades for about 200
God bless you for all you teach and especially being a good person.
I'm rewatching your course again, I have a lot more time and experience but still am doing bad so maybe watching the course again will be good, I'll probably understand it better this time around
As a swing trader, I never pay myself but rather always reinvest my money on my long-stock account. That’s how wealth is created. And that’s what the 98% don’t do
All that matters
Love you. Rick. Keep your confidence. Your killing it.
Ricky is the man smart but not as smart as his sister
I'm still learning about day and swing trading, so I'm not using real money yet, but I really like the idea of locking in some significant percentage (50% at least) of profits each month. Use the money to pay bills, treat yourself to something or even invest that money in something a bit less risky…whatever. Thanks for the vid, dude. Loving the channel. 🙂