If i were to start again...... This is a Step by Step Process on how i would become a Day Trader
- Understand Market Direction
- Learn where strong Supply & Demand lvls are
- Can understand if we're Trending or in Consolidation
2. Know your Trade Set Up
- Know what Market Conditions your trade(s) works best in
- Know your specific Entry / Exit Criteria / Trade Management
- Can distinguish between a setup being A+ / B, to adjust Risk
3. A lot of Practise
- 20 Backtest / 20 Forward Testing Trades, this is all about trade refining and gaining confidence
4. 10 Winning Demo Trades showing you're making money
- Before risking money you have to qualify you actually deserve to by making money in a Demo account
5. Live Prop Firm Account Challenge
5a. Prop Firm Capital allows you a lower entry point into trading
- Whilst still developing, your max Risk for an account is $1000 instead of more with personal capital
- Ability to leverage higher capital with same small risk
- Small Risk : Massive Opportunity, $1000 cost for $200,000 Account
- Personal Acc - $1000 + 5% = $50 / $200k Funded Acc - $200,000 + 5% = $5000