A Successful Traders Mindset | $500 A Day Keeps The Day Job Away

34 Replies to “A Successful Traders Mindset | $500 A Day Keeps The Day Job Away”

  1. I'm new to trading and for me if i can trade and go from working full time to part time with trading income on the side sounds surreal i honestly don't need more than that lol

  2. I just wanted to take some time to ask you a few questions.


     I’m 22 and I’ve been following
    the stock market since I was about 14. I’ve come to a point in my life where I saved
    up about 50k and had the intentions to trade full time/part time.



    After making about 400 a day for about a week I got a bit
    over zealous and lost 3k in a trade (due to not using a stop loss….dumb I know!}
    I wasn’t following my trade plan



    My trade plan:


    Make plays with 5k or 10-20% account size and scale up to 10k

    a 2% : (1%) reward to risk

    2 million shares volume minimum

    Stock price between 3-100$

    Don’t trade bio tech or any ultra risky stocks

    I don’t use leverage yet but I have the option to if I
    want up to 200k

    Use think or swim  platform for now

    Day trade only

    Goal is 350 a day but even 100 a day I’d be happy (I accept
    losses happen)

    Stop loss is typically at .8% but I get stopped out a lot



    I have paper traded and am consistent with making a profit.


    Time isn’t a issue

    Quality equipment isn’t a issue (I have a 3k gaming laptop that’s
    got greaaaat speed and my internet is 120mbps)




    +What is a low risk setup strategy you recommend?


    +Is a .8% stop loss more likely to stop out?


    +Are 3$ stocks to volatile for a newer trader?


    +Lastly, any specific videos you’d recommend?



    Thanks in advance and
    thanks for such high quality content, you are one of my favorite youtubers..not
    to mention traders!


    -Simon Roese

  3. Nice thing about trading is that you’re completely in charge. You can always increase your position size if you want more $$$

  4. Perspective: $500/day gets you roughly between the top 5% and top 10% of income earners in US. (Top 5%: $159,619
    , Top 10%: $113,799). That's pretty remarkable if you can do it in 90 minutes per day, or whatever amount of time it takes, and be your own boss! On the other hand, if you make half that "perspective goal" and manage to earn $250/day, that is still top 25% income and just as inspiring to shoot for while building skills. Not easy, no guarantees any of this can happen for any of us, but it is a positive mindset to carry forward each day, one day at a time.

  5. An added perspective is the time it takes to make the $500. It doesn’t need to take more than 1 or 2 hours. Not only do you make your $500 a day, but you have so much more time to do other things you want to do, or better yet, make more money elsewhere!

  6. Hey clay,plz keep doing these video really enjoyed it.i was in a similar situation today where I made 597 usd for the week,tried to see if I could make another 3 dollars and I lost a dollar 0.5, only started making profits for the first time this week. It’s not about reaching goals but being consistent.Thanx clay

  7. Minimum Wage in Los Angeles is $14.25/hr You can make $500+ in one week working 40 Hours at a job you probably really dislike. I'd rather be grateful and make $500 in 90 minutes in my underwear in the stock market. Thanks Clay for awesome content, keep it up!!

  8. Clay, great job on this video as well as any of the videos where you focus on the psychology. These are huge huge aspects of trading that i think many traders out there skip on. This along with the one where you spoke about "feeling like you're awesome/extra cocky on a Friday cause you've had a great week", where you spoke about lowering your position size. Great videos. I think after someone has got their strategy down, the psychology is even more important for consistency/profitability. Your content is awesome and very relatable to retail traders.

  9. Thanks for sharing your knowledge!! Always enjoy your videos!!

    I don't really have a daily target set, but when I'm up over $100 a day, I usually don't take another trade. Some days I make 200-300, while on a losing day I'll be down about $100. It really is all about perspective!!!

  10. Great video Clay! Thanks for keeping it real. I'm trying to get myself to hold my wins longer, or keep moving my stop loss up. I always sell once I'm over $100. I don't have the speed these other guys do to just jump on any momentum and still manage risk with stocks jumping around 20 cents or more. Have to be very selective with trades when you're stuck under the PDT.

  11. I am switching gears after my losing first jump to live trading. With only 3k available I'm going to aim for a percentage gain…ie 2% wins…3% rocks…5 % up is time to get up and walk away. That is a great way of looking at this with those with tiny accts….starter account with only 500 cant keep the day job away!. Ps Clay…..is your 500 a day with 100k or 30k or 250k? Letting peeps know your winning with 1% or .5% will give a better perspectice!!??

  12. Trading is a risky business. If you want financial security rn, get a job. But if you’re prepared to work at it, you can develop financial security and build wealth as a trader.

  13. Actually from the first time I heard you say, "$500 a day keeps the day job away" I have been using that to describe my goals whenever I am talking to anyone about day trading. Honestly, I think this saying of yours is the best advice for any trader because it really keeps you grounded in your perspective and keeps you out of trouble.

  14. I trade in return in capital. Doing a option trade and it is at 50% that means I got a return of half of what I used in the trade I think that is wining. If I get 3% that is more than a bank savings account still winning.

  15. I remember you previously posting your trading log and was trying to show someone and can’t find them do you happen to have a link so I can show your returns 😂 thanks in advance!

  16. i do not focus on the money, i simply enter based on my strategy then exit with what the chart is telling me(hard to quantify this especially when signals appear on the spot, but this can be avoided when you have a specific amount). this has allowed me to catch larger trends but the cost is i miss out on closing near the point where prices then reverse. could've exited with a specific profit but what about the larger trends? there's always a catch but once i saw how to look at trading like this, that this is all i can control, i have been stress free with trading and money. perhaps another way of looking at trading.

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