How To Start Day Trading Like A Pro In 30 Days

Starting trading the right way and mastering it can allow you to create an income-generating machine for yourself, granting you time freedom, location freedom, and the ability to scale your income working from anywhere in the world. However, if you’re trading with no foundation or the wrong foundation, especially if you’re just starting off, you can easily waste years of your life and thousands of dollars of your money that you simply don’t need to waste.

In this blog post, I will be laying out the foundation that took me seven years of full-time trading with all sorts of trial and error before now being able to make thousands in a single day day trading. Whether you’re trading and have some experience or you’re starting off with absolutely zero experience, I’ll be showing and teaching you the boil-down version of all the most important things that I’ve learned, including market psychology, software and charting, trading math (one of the biggest pitfalls for beginner traders), custom tools to advance your trading faster, and Access to Capital so you can start with a small amount of money but still be able to trade.

Lesson 1: The Importance of Mindset in Trading

Most people, when they start trading, want to jump into technical analysis charts and immediately start trying to put money into the market. However, one of the biggest pitfalls for a trader is something that has nothing to do with actually trading and everything to do with your mind: mindset. Without first rewiring your mindset, being successful in trading is going to be almost impossible.

If you take human traits that will conventionally make you successful in regular life and apply them to trading, it will almost give you the exact opposite effect and cause you to lose more money. This is why a lot of the smartest and most successful people are actually the worst traders—they’re so stubborn and successful in regular life that they can’t believe that applying the same logic to the markets will actually cause them to lose.

Rewiring Your Mind for Trading Success

One of the biggest and best decisions I made in my trading career was reading a book called “Trading in the Zone” written by Mark Douglas, a trading psychologist. I’ve made several videos referring to this as the Bible of trading, and I promise you this can’t be closer to the truth. I’m going to show you some key points here to get us started, but I strongly suggest that once you finish reading this blog post, you get this book, take your time reading it, and see how much it’s going to change your trading.

One of the first things Douglas talks about in this book is shifting to mental analysis and understanding how mindset plays a critical role. As he states pretty early on, he’s worked with some of the best and some of the worst traders in the business and has helped some of the worst become some of the best. The best traders are able to think differently from the rest of everyone else. These winners have attained a mindset, a set of attitudes that allow them to remain disciplined, focused, and above all confident despite adverse conditions.

Lesson 2: Understanding Market Psychology and Charting

Before diving into full technical analysis, I want to show you the bridge between psychology and the actual markets. When you’re trading, you’re battling with a collective group of people making decisions based on all sorts of factors to try to make more money than the other person. This is player versus player; when someone makes money, another person is losing money. There’s a wide spectrum of distribution depending on how many people are involved and how much money is involved at different points.

When we look at a chart, we’re using a software called TradingView, which is basically the gold standard in the trading industry for looking at trading data. Even though it looks like we’re just looking at squiggly lines on a chart, what we’re actually looking at is the visual representation of mass human psychology. When prices are moving up, it means that more people as a whole are willing to pay more and more money. The price is increasing because people are willing to buy at higher prices from one another because they feel it is still worth getting in as the price increases, and that demand outweighing the supply causes the price to move up.

Understanding Candlesticks

Most traders look at candlesticks, which are visual representations of price movement over a set period of time. For instance, a white candle indicates that the price opened at a certain level, went as low as a specific point, went as high as another point, and closed higher than it opened, resulting in a positive gain. Conversely, an orange candle shows that the price opened, went as high as a point, went as low as another point, and closed lower than it opened, resulting in a net negative movement.

Using these candlesticks, we can start to understand price action and market psychology. Indicators and technical analysis tools help us digest and interpret this data to make calculated trading decisions.

Lesson 3: The Foundations of a Successful Trader

There are significant differences between a successful and a non-successful trader, and these differences often come down to foundational principles. Everybody is trading with the same information; there’s no magic indicator or missing piece of information that will make you successful. It has everything to do with how you apply yourself within an infinite number of opportunities and possibilities to make money in the market.

Key Elements of a Pro Trading Foundation

Here are some of the foundational elements that separate successful traders from non-successful ones:

Lesson 4: Access to Capital

On one of the positions we just went over, we were risking $100. To risk $100, you might need around 730 units, which at an entry point of $8.10 would require around $5,900 in capital. If you’re not Using Leverage, you would need to have $6,000 in your account just to put on a trade to risk $100. This is where leverage and exchanges come in handy. Using Leverage allows you to control larger positions with smaller amounts of capital, making it easier to manage risk and increase potential returns.

Using Leverage

For example, if you increase leverage to 50x, the capital requirement for the same trade would only be $125. Even at 10x leverage, the requirement drops to $600. This allows you to take trades without needing a substantial amount of idle cash sitting in your account. Leverage also enables you to scale your trading without tying up all your capital.

Lesson 5: Journaling and Practicing Your Trading

Once you have your system, understand the analysis, and grasp all the elements, your trade journal becomes crucial. This journal will help you track your winning percentage, average risk-reward, average risk factor, and total profit. It will also allow you to analyze your performance and identify areas for improvement.

Using a Trade Journal

In your trade journal, you should input details like the date, coin or pair traded, system type, time frame, whether it was long or short, risk percentage, win or loss, and P&L. You can also add notes, confidence levels, and pre- and post-trade notes to keep track of your psychology. This data will help you optimize your trading over time.

Additionally, you can use features like TradingView’s bar replay to practice and track your edge without risking real money. This allows you to build confidence and refine your trading strategy before applying it in live markets.

Conclusion

Mastering trading requires a solid foundation, a deep understanding of market psychology, proper use of tools and software, effective risk management, and diligent tracking and analysis of your trades. By following these principles and continuously learning and adapting, you can build a successful trading career and create an income-generating machine for yourself.

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