How to Survive (and Thrive) as a Day Trader

If you want to be a successful day trader, one of the biggest lessons you can learn is the importance of not making money, but rather, protecting it. When your main goal of any day trading strategy is to “survive”, you know you are building upon a rock solid foundation. Truly stop and think about it. Can you make money (”thrive”) if you don’t have any money to use? Of course not. In fact, that’s a silly question on my part; however, it is a concept that many traders forget and/or struggle with. Those of us who are traders are passionate and ambitious people by nature. We want to fight and succeed in whatever we are doing! The thought of “taking a loss” is not wired into our DNA as ambitious people. Yes, this attitude is amazing and required in the vast areas of life, but when it comes to being a successful day trader, you need to be willing to take a loss. Taking the loss on a trade gives you the ultimate ability to stay in the game. The longer you are able to stay in the game, the higher and higher your chances go of nailing that next big winner (which can wipe away those small controlled “survival” losing trades). Let me walk you through this general idea by showing you some of my personal day trading results I was able to capture on video. Let’s go!