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Alright. Hi, welcome to Day Trading with Danny. If you're new here, I'm glad you found my show. And if you've been rocking with me for a while, you already know that I do not sugarcoat things, okay? So today I'm talking to you about trading, and specifically the one thing that most beginners get dead wrong before they ever place their first trade, and I would love to cover that. Alright, so let's talk about the myth. So the internet will have you to believe that trading is a shortcut. Buy low, sell high, repeat, quit your job, trade from a beach in Bali, done. And I mean I get it, those highlight reels and screenshots of PLs and all of that are designed to pull you in. But here's the truth that nobody's posting about. For every trader that's flexing a winning week, there are dozens who blew their accounts the month before. Because trading is not a cheat code, it's a skill. And like any skill, it takes time, repetition, and a serious amount of humility to develop. The myth is that trading is about finding the right hot tip or the right per like new indicator or whatever. And the reality is it's really about you managing your risk, managing yourself, and having a process that you can repeat consistently, even when the markets is doing everything it can to shake you out. So I want to get into the three things that are most important for newbie traders and maybe even for some of y'all that's been in the game for a second, but you needed me to shake you up today. So if tips and indicators aren't the foundation, then what is? I'm gonna give you what is the foundation. Risk management. Before you ever think about profits, you have to think about losses. How much are you willing to lose on a single trade? Okay, because most professionals risk no more than one to two percent of their capital per position. And it sounds boring, and trust me, it is boring, but that's the point. Boring keeps you in the game long enough to get good. Number two, a defined edge. So an edge is simply a setup or condition where over a large temple of trades, your wins outweigh your losses. It doesn't have to win 80% of the time. Plenty of profitable traders win less than half of their trades, but what matters is when they win, they win bigger than when they've lost. Let me run that over again. What matters the most when you're trading is that when you win, it is bigger than what you've lost. You can't know if you have edge unless you track your trades, which brings me to number three, a trading journal or even a trading community. And I know, I know nobody wants to hear this, but traders who actually make it long term are the ones who review their decisions, spot their patterns, and eliminate the mistakes that they keep making. So a journal is your feedback loop, and without it, you kind of just gambling and calling it trading. You might as well hit the casino. So let's talk about the mindset shift. Here's the mindset shift that I want you to take away from this episode. Stop trying to predict the market and respond to it. Oh my gosh, oh my gosh, oh my gosh, stop it like I cannot stress this enough. I cannot stress this enough. Majority of the time when you guys are looking at the charts, you're trying, oh, I think it's gonna be puts today, I think it's gonna be called today. Nobody asks you what you think. Okay? You can have a like a cute little bias so that you can get in position for that. But I'm gonna be real with you. Every time I am posting levels for people inside of Impact, inside of Rista Riches, or inside of Spice World, my levels give both upside and downside. Why? Because I am not trying to predict what is going to happen. I'm trying to give people entries for both. So these are the parameters for us to take a call to the upside because we know once we make it over this point, bulls are in control, and there's a high possibility that we will revisit this level, or we'll touch this standard deviation, or we'll revisit this high, or we'll tap this area of liquidity. And then same thing for puts. Once we get beneath this area on the fib or beneath the 50%, I know we're either going to revisit this low or you know, do something in regards to tapping another liquidity spot, right? But I set my levels up to go to the upside or to the downside, all right? So the market doesn't care about your opinion, it really cares about your analysis, your news feed, or your gut feeling. The market is just a giant machine running on collective decisions of millions of people, and your job isn't to outsmart them, your job is to identify the conditions where the odds will tilt in your favor. Size your position appropriately and let the trade play out. That's it. It's no heroics, no revenge trades after a loss, no doubling down because you know you're right. Just process discipline and patience. The traders who last aren't necessarily the smartest people in the room, they're the most disciplined people in the room. I want to talk to you about how well one thing I noticed that a lot of traders do that is very helpful. They start to work on themselves when they start trading. So whether they're reading like Mastery of Self, Mastery of Love, How to Become a Millionaire, How to Think Rich, whether they start going to the gym, working out more, focusing on their health, once they form a discipline in other parts of their life, they form that discipline on the charts and it works well for them. So if you're a person that doesn't have discipline in any other area of your life, but you're also trying to trade, maybe you might want to look into having a way to channel that disciplined energy as well. Okay, just a tidbit. So that's a wrap for today. I wanted to make this episode extremely quick. If this episode hit different, do me a favor and share it with someone who may be just getting started or might be bumping their head on a wall, yet again, even though they've been trading for two to three years, they might just need a little refresher, right? We might can save them some money and a lot of frustration. All right. And if you guys ever have a topic that you want me to cover, I would love for you to reach out to me. You could always reach out to me via Discord and Clarity to Capital University in the general chat. It is a free trading educational discord. You could always reach out to me over on Twitter. My name over there is trader underscore B A I. Name play on Bailey, Trader Bay. You could reach out to me on Threads or on Instagram, Danny. So there's numerous ways, even with this podcasting thing here. I think they have where you can send fan mail. If there's something that you want me to cover or a topic that you think needs to be heard, I would love to do that for you. I would love to research and then give that output. Okay. So until next time, I want you to trade smart, manage your risk, and remember slow and steady does win this race.