They can be great supplemental tools, but there is so much more to trading than what can be taught in a YouTube video. No one became a consistently profitable trader after just watching someone’s YouTube channel.

Difficult professions like trading cannot be mastered from something as non-interactive as a video. How many surgeons do you know who learned surgery from watching a few videos and joining a chatroom?

If you want to exponentially shorten your learning curve, you need ongoing mentorship and get actionable feedback from experienced traders. You need an interactive learning environment.

This video lesson will break down the best methods to learn how to trade stocks, what works well, and what doesn’t:

Mentorship vs YouTube Videos

Trading is will probably be the hardest endeavor you will ever attempt. The journey to profitability is filled with highs and lows. After watching the video you will have a billion questions, and you don’t have anyone who can answer them!

There is a 1% chance they will answer by email or even if you join their chatroom and send them a PM. Buying someone’s course or watching their videos doesn’t mean they are your mentor. No one is there to guide you throughout your trading journey or help you correct the mistakes you’re making.

A true mentor is someone you can reach by phone and is there for you during every stage of your trading journey. YouTube videos and recorded courses fail to give you personalized attention to become a profitable trader and shorten your learning curve. The path to consistently profitable trading is not a linear process. You need a mentor to guide you through the ups and downs:

Working Smart vs Working Hard

One of the biggest issues we find that aspiring traders run into: They don’t know exactly WHAT they do in order to improve their trading. We have hard-working traders enter our course all the time. But they were using their time and effort inefficiently because they have never actually talked to an experienced trader, have one work with them and tell them what they needed to do to fix their issues.

For example, we will have new traders come into our course that uses a trade journal religiously. They were uploading all their trades at the end of the week like they were supposed to, but couldn’t figure out why they kept losing money. Once I looked over their trades, it was obvious that the trader was trading with too much emotion because his position sizes were too large. This approach helped our boot camp student Frank have his first $5000 day:

I told him to reduce his position sizes, and his trading results dramatically improved. But he would never have known this (or taken a lot longer to figure it out) until he had me look at his trades.

YouTube videos can’t be personalized. Every trader is a little bit different and has different issues. You need actionable feedback from experienced traders in order to actually fix the issues that prevent you from becoming a profitable trader.

Why We Offer Live Classes

This is why we offer live, interactive classes. We know that learning to trade stocks for a living is not an overnight process. And the learning curve becomes that much longer when you don’t have an interactive environment where you get direct feedback on how to improve.

Whichever mentor you chose, make sure you can find a proven trader to work with you.

That’s why we offer a 60-day boot camp and lifetime access to our community and mentors when you enroll.  I have spent 14 years teaching and refine this course to provide the educational material and mentorship to take you from a newbie/struggling trader to a profitable one!

Join Our Next Live Trading Boot Camp (Early-Bird Pricing Ends Soon)

Learn all the day trading strategies we’ve been using for 2 decades in our Live Stock Trading Bootcamp. Sign up before the end of this week to get 20% off the normal price!

Click here to apply for our next trading boot camp!

The post Why You Can’t Learn Trading From YouTube Videos appeared first on Bulls on Wall Street.

Trading has evolved a lot the last several decades. One of the biggest changes since the turn of the millennia was the accessibility of the stock market for retail traders. 

Today almost anyone can open a trading account. We have also seen tools that used to be just available for institutional traders become accessible by everyone. And most importantly, now everyone can access the vast wealth of information about the stock market on the internet. You don’t need to spend hundreds of thousands of dollars to learn about the stock market. There has never been a better time to learn how to trade.   

Accessibility of the Market

Before the internet, trading the stock market was not very accessible to the average American. Brokerage fees were very expensive, stocks traded in fractions instead of decimals, and there was a lot less liquidity in general. The chart below shows you how much lower commissions have dropped in recent years:  

Now trading commissions are as low as $5 a trade. ECN and routing fees are much lower as well, especially if you add liquidity with your buy and sell orders. You don’t need to have $100,000 account to overcome all the fees anymore.

Tools For Retail Traders

Scanners, charting software, and live news feeds used to only be available to institutional and professional traders. Now you can access all of these tools from your computer or smartphone anywhere in the world. Here’s a recent speech where I explain which trading tools I use and how I incorporate them into my trading strategy:

The tools we recommend are Trade Ideas for scanning, and TC2000 for charting. Benzinga is a great resource for real-time news alerts as well. If you are serious about trading full or part-time, you have to invest in the right tools.

Online Resources

Before the internet, learning about the stock market was relatively difficult. Information was not consolidated in one place, and you usually had to enroll in a University to learn about the inner workings about the stock market. 

The internet has changed everything in trading. All of the foundational knowledge about the stock market is completely free. There is so many trading resources out there now online there is no excuse to not get started. Investopedia and YouTube alone can teach you all the basic terminology from the stock market.

You also don’t need to go into debt to learn about the stock market from real traders. These days there are real traders all over social media willing to share their knowledge and experience about the markets. But be sure to do thorough background checks on all trading services you are looking to give your hard earned money to. There a lot of scammers out there who run trading services who don’t actually trade with real money and post fake trading results. 

Free Trader Assessment

Are you a current or aspiring trader looking for some feedback? Need a roadmap for what you need to do to get to where you want to be? Schedule a free trader assessment with one of our educational specialists today!

The post Why Right Now Is the Best Time in History To Learn Trading appeared first on Bulls on Wall Street.

A lot of trading educators just focus on their one or two most successful students. You always hear about the millionaire students, the lambos, and the 5 star hotels in marketing of most trading services. Most millionaire students you hear about from other trading services (assuming they are real) are the outliers, not the norm.

They do not reflect the typical experience of the aspiring trader who turns to the internet for their stock trading education. For every 10,000 people you see go through these services, very few make it to the millionaire level.

But rarely do services talk about the average student, who doesn’t have much capital, didn’t come from a wealthy background, had nothing handed to them, and did not see overnight success. Not to say that people that have had success have any of these things. Everyone comes from their own unique situation. At BOWS we like to focus on the average student, because they have a much more relatable experience to the typical aspiring trader. We like to focus on successful, consistent students, who are quietly building their account, making $100-$500 a day.

A year ago we did a post about Henrik from Finland, one of our most promising bootcamp and mentorship students (check out the post here). We wanted to see where he is today, and how his trading has evolved over the last year. Here is a recent interview we did with Henrik, updating us on his progress:

Interview with Henrik 9/23

1. What have been your biggest ups and down since taking the bootcamp?

Taking big losses after a good week and losing all my gains on Friday. The feeling that I finally got this and then the market slaps me in my face and I take a big loss. I remember quitting so many times. Biggest ups since taking the bootcamp was when I made 1500$ in one week, it was very good feeling.

2. How has your progress been the past year?

I used to go big in a position and then risk too much on my first trade and if i lost big it is hard to come back and make the rest of the day green. Now I take smaller size at first and focus on just 1-2 favorite stocks and watch them very carefully and if I lose, it won’t affect me that much and I can still come back with a green day.

3. What has been the biggest factors in finding consistency in your trading?

The biggest factor has been trading less. I used to trade 5-7 tickers for a day and that is way too much. Now my focus is on 1-3 tickers/day. It was hard to at first keep this phase a year ago, I just wanted to make more money but then I gave all gains back and even would go red for the day. That is even more frustrating when you had good day and you messed it up. Now these last couple of months I have able to keep it lower risk. Become more consistent in my trading and the whole mindset in general towards the money. Now I have a bigger reason and vision where I want to go and what I want to do. I am not attached to the outcome anymore, I give my best everyday.

4. What do you focus on for your strategy?

My focus is on Earnings plays and Momentum stocks. I trade flags, bear flags, Red to green moves, and Opening Range Breakouts/Breakdowns, I keep it very simple. I also trade what works in different market conditions and I might change my strategy on a weekly basis. I keep a journal and track the process.

5. How has the education from Bulls on Wall Street affected your trading?

The whole Team is very helpful and I am grateful for all the support when I had the bad times. I e-mailed, called Kunal or any of the Team members and they are glad to help and guide me.

6. What advice would you give anyone just starting out?

Start with the simulator at first and experiment who are you as a person and find the setups you like. Start trading small, just a few hundred shares at a time and don’t over trade as I have done. You only need one good trade to make your day good that is the truth. Keep the end goal all the time in your mind, why you want to trade, what you want to create and share. I think its good to have a bigger reason in your mind than just money.

7. Any last thoughts?

I have to say that you have to develop the right mindset and it comes with doing the right things every single day, meaning building the right habits, routines etc. It’s all about the process. Nothing big happens overnight, it takes time and dedication, you have to enjoy the ride for it’s bad times and good times. Face your fears every day it helps you pull the trigger.

Focus On Your Own Journey

Social media is great at making you feel like you haven’t done much with your life. Everyone’s a winner on Twitter, Instagram, ect. When it comes to trading, most of the people on Twitter showing big PNL’s are usually paper trading (not trading real money, there are a few exceptions). Regardless of whether they are real or not, you should only focus on your journey anyway, and figure what YOU need to do to find trading success.

99.9% of aspiring traders will not find overnight success. Many of the most successful traders you hear about today took months and years to get where they are today. It took me 5 hard years to really get this game down. But you could be trading for the rest of your life. So what is taking a couple years to grind and learn how to develop a skill that will give you freedom and wealth for the rest of your life? It’s part of your story.

Join Our Next Bootcamp

Start your journey with us today. Join our 60-Day Trading Bootcamp and get started in a complete trading program. To get started, get your free trading assessment here.

The post Finding Trading Consistency: Update On Henrik appeared first on Bulls on Wall Street.