How Much Money Do I Trade With To Make $10,000 A Week?

TL;DR

You don't need a large account to make significant profits in trading, focus on trading what you feel comfortable with and keep it simple.

Transcript

hey what's going on guys it's Ritchie with psycho solutions and in this video I'm going to be talking about how much money I trade with to have the you know three to five thousand dollar days that you guys have been able to see me have on my recaps on my youtube channel so for those that are not familiar with who it is at M my name is Ricky I run t... Read More

Key Insights

• 🍝 Volatility in ETS like UGAS, DGAZ, SQQQ, and TQQQ has resulted in larger profits for Ricky in the past few weeks.
• 🥳 Ricky focuses on day trades and consistently locks in profits, even if it means selling a little too early.
• 💰 Trading with a comfortable dollar amount is crucial to avoid emotional decision-making.
• 🦠 Paying attention to Ricky's daily recaps and staying micro-focused on stocks that are already doing well can improve trading performance.
• 🍗 Avoid trying to predict reversals and instead focus on stocks with consistent uptrends.
• 💦 It's important to develop a unique trading style that works for you rather than trying to replicate someone else's success.
• ✳️ Understanding risk and managing it effectively is essential for consistent growth in trading.

Questions & Answers

Q: Why don't you trade with a larger account if you're making significant profits?

Ricky trades with what he feels comfortable with, and a larger account size would make him more emotional and uncomfortable. He prioritizes trading within his comfort zone.

Q: How do I determine the dollar amount I should trade with?

Find a dollar amount that eliminates the emotional aspect of trading for you. Start with a smaller amount if needed, and gradually work your way up as you become more comfortable.

Q: What should I pay attention to when trading?

Ricky suggests watching his daily recaps on YouTube, where he focuses on trading ETS like UGAS and DGAZ. He advises avoiding overwhelming yourself with too many different stock options and instead, staying micro-focused on what is already doing well.

Q: Should I try to predict reversals in the market?

Ricky recommends not trying to predict reversals and instead focus on stocks that are consistently making higher highs and showing signs of an uptrend. Avoid investing in stocks showing signs of a downtrend.

Summary & Key Takeaways

• The speaker, Ricky, has been experiencing larger profits in the past few weeks due to the volatility in ETS like UGAS, DGAZ, SQQQ, and TQQQ.

• Ricky focuses on day trades and consistently locks in profits, although sometimes too early, resulting in profits seconds after selling his position.

• He emphasizes the importance of trading with what you feel comfortable with and advises not to trade for others or to impress others.