Let’s face the hard truth – around 95% of all-day traders end up failing. Yes, you read that right, the numbers don’t lie.
In fact, statistics show that 80% of all traders quit within the first two years, 40% quit after only one month, and only 7% remain after five years. Talk about a tough gig!
So, what’s causing all these trade failures? Well, trading isn’t as straightforward as the movies make it seem. Unlike The Wolf of Wall Street, trading in the market is not as simple as “buying low and selling high.” – trust me, most day traders end up losing their hard-earned money. Why? Simply put, trading is not just about graphs and numbers; it’s like playing a high-stakes game of chance.
And if you are interested in picking up the mental game of day trading, your best bet is to study with David Capablanca, the industry’s foremost expert.
Imagine being able to sense the pulse of risky stocks with just a glance and going from $29,000 to $800,000 in just three years through day trading. Well, that’s David for you. Not only is he a savvy- investor, but he also helps aspiring traders learn trading through his podcast, The Friendly Bear.
The Grim Reality of Trade Failures:
According to David, many factors, including unrealistic expectations, a lack of market experience, and impatience, play a role in trade failures. And we couldn’t agree more.
For many new traders out there, the goal is to get super rich overnight – without giving themselves enough time to learn, study, and analyze the market algorithms. (P.S. Wall Street and the Rogue Trader do not count as research sources.)
As David puts it, “You’re not here to make a story or something out of a Hollywood movie happen to you. Your goal is to get profitable, one way or another.”
For example, most traders have been stuck under PDT for years and are unwilling to take the risk of making a large profit. They usually lack the discipline required for day trading – meaning they’re willing to take on more risk than they can handle or are not ready to take any risk at all.
Escaping Failure: The Light at the End of the Tunnel:
After every dark tunnel, there’s a ray of hope, and with David, we have the entire lighthouse at our disposal. No matter what the statistics say, it’s still possible to trade successfully if you are willing to put in the time and energy and develop the right set of skills.
Here are some of the keynotes from David – make sure to save them for future use.
- Have Realistic Expectations: Understand that trading is not a get-rich-quick scheme. It takes time, dedication, and patience to become an expert in the game. “Traders – they start with over PDT money and expect to make money within 3 or 4 months; that’s not how it’s done“, explains David.
- Research and Analyze: You can never learn too much about the stock market, so read up on some of the basics before diving in headfirst. Also, always take the time to understand a chart or index – look at it from different angles and try to analyze its movements.
- Apply What You Learn: Educating yourself is important, yes, but you know what’s more important? Apply what you learned. According to David, there’s a lot that you learn after putting money on the line and analyzing and journaling your trades and your feelings through the trades.
- Be Open To Risks: Day trading involves risks, and to be successful, you will have to be open enough to take them. Understand that you can’t play it safe all the time.
- Be Persistent and Keep a Winning Mindset: You need to keep your head on straight and your eyes on the prize if you want to succeed. Keep a positive attitude always, and don’t let small losses get you down.
His current win ratio, which was verified and audited by Business Insider, is over 90%, and his six brokerage accounts have winning ratios that range from 92% to 97.57%.
So, if you want to make it big in the stock market, take these keynotes seriously, put them into practice and see for yourself.
Moreover, David is a co-founder of the Conscious Trading Academy, an institution dedicated to empowering traders with a holistic education centered around developing mental resilience and embracing an ethical approach to trading.
His commitment extends beyond profit-making; he aspires to nurture traders who embody both skill and integrity in their trading practices.
David along with Sam Daghash the co-founder and mindset coach at the Consious trading academy will be hosting their first conference in LA on the 16th of September 2023 where they will unveil the foundations for building trading success.
Tickets are available on https://www.conscioustradingacademy.com/
Tune into the Friendly Bear podcast or join David Capablanca’s Conscious Trading Academy and start trading like a pro today.