Tony Montana Trades

Tony Montana Trades

05-10-2022

21:00

When I Started Day Trading My Account Went From: $30k—> $3k—> $1,000,000+ In this thread I’ll teach you what to focus on to accelerate your growth as a trader & limit your losses in the beginning.👇 (1/18)

1) Mindset Most traders come in with this mindset: “I want to make ‘X’ by this ‘date’ & I’ll quit my job.” This is wrong trading is a long journey. Shift your mindset to the reality you likely won’t make money for 2+ years & that’s fine as long as your learning daily.

1.5) Timeframe A lot of traders don’t talk about this. Giving yourself a realistic timeframe is important to help establish goals & create better work ethic. The key is REALISTIC. This timeframe shouldn’t focus on P&L rather, focus on the learning metrics of your trading.

2) Learning There is 1000’s of hours of free content on trading. You can learn a lot just for free on YouTube, Twitter, etc. I learned a lot for free, but I learned much faster through mentorship’s & courses. NOT EVERYTHING IS A SCAM…

2.5) Learning Be open minded I think the fastest way to learn trading is to find a trader who’s style you resonate with & learn their system inside/out & apply it to your own. Don’t bounce around system to system, the faster you understand this the faster you’ll see growth.

3) System Real trading doesn’t begin until you have a system with rules. Before this your only gambling. A system can be as simple as EMA crossovers or Supply and Demand Zones. What’s important here is you only focus & learn that 1 system & not have shiny object syndrome.

3.5) System + Edge In my experience the best way to master a system is to focus on a handful of stocks rather than 100+. To this day I only trade: $SPX or $SPY, $TSLA, $AAPL & $QQQ on a daily basis. I know the ticker personality which helps build my edge on these stocks.

4) Consistency To be profitable in this business there are 2 main things one must have: Repetition & Consistency. R- Your setup should be a repeatable pattern that occurs on a daily basis. C- You must be at the desk every trading day to view how the markets move in real time.

4.5) Consistency Trading isn’t a hobby, don’t treat it like one. You must always be learning daily to ensure you have a strong edge in the markets. 1 hour of backtesting daily is better than 10 hours of backtesting on the weekends as you’ll retain more information.

5) Journaling Now that you have an established system, you must journal each trade you take. This is 🔑 It will help you identify the mistakes you made during the day which you can fix the next day while trading. Do this Daily after market close.

6) Mental Health Another thing not many traders talk about. Mental health is so important, sometimes when you have a red day you may feel down and depressed. On those days it’s OK to take time off and let your brain rest. This is a long journey don’t burn yourself out.

7) Sizing Do NOT size up in the beginning. Use money your comfortable losing, my problem was I used $30k and lost it because I was revenge trading. This won’t occur if you don’t care about the money and just the process. THE MONEY WILL COME FOCUS ON THE LEARNING FIRST.

7.5) Sizing I really can’t amplify how most of your trading problems would literally be solved if you took less size and just learned to control your emotions. Sizing is a long term game, once you find consistency in your system slowly increase size 5-10% a month.

8) Emotions Once you learn the system and technicals of trading, it really just comes down to mastering emotions. Some of the greatest traders I know are mediocre chart readers but just have great conviction in their system and follow their plan EVERYTIME.

8.5) Emotions A great book I recommend all traders read to learn about emotional control is: Trading in The Zone This will really help show you trading in a new light and help get you closer to that “Aha” moment.

9) Excuses Stop making excuses, all you need to trade is an internet connection, a laptop and a phone. If your reading this tweet you can trade. Take time out of your day and dedicate it to this craft if you want to change your life, stop being lazy.

10) Quitting Your Job For most their main goal is to quit their 9-5 and trade full time This doesn’t have to be yours. You may just want $1k-$5k side income from trading while pursuing you’re 9-5, identity your longterm goal with trading & use it as fuel on days you feel lazy.

In Conclusion, Trading is hard, it will take work & time to become a profitable trader. But with the right plan & learning it’s possible to accelerate your growth to become a profitable trader.🔑 If this helped you: -Like + Retweet Original Tweet! -Follow for More Education⚡️



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