What You Can Expect To Earn Your First Year as a Day Trader

What You Can Expect To Earn Your First Year as a Day Trader

What You Can Expect To Earn Your First Year as a Day Trader 1024 546 Steven Dux

Just how much money can you make in your first year as a full-time day trader?

The first questions

As a mentor and day trader myself, I work with beginners every single day and one of the first questions I’m always asked is: Dux, how much money can I make?

Anyone who wants to be a day trader enters this field to achieve their dreams and achieve the freedom they’re looking for, all while looking to make a hefty profit. Considering how much people earn at jobs by slaving away for 40+ hours a week, 52 weeks a year, with only getting around 5-10 days off in the year, including holidays, it makes sense why the financial aspect is such a common question that I receive. Especially nowadays. The pandemic has caused a lot of uncertainty around the world, but it’s also led many new people to enter into the stock market, with the emphasis in day trading.

The pandemic

Just a few years ago in 2018, the mean family income was just $106,045.

The fact that you’re curious about how much you can earn as a day trader shows that you’re looking for opportunity to utilize that money and the freedom that comes with day trading to do one of many things, from raising a family to finding more free time to do the things you love to traveling the world or to just take care of the recurring bills that come every month. It doesn’t help much that this pandemic has put a lot of people in a financial predicament. If you’re one of the people who has been affected financially by the pandemic, you’re certainly not alone. Financial pressures have increased for almost everyone this year, even people in the upper class.

Just a few years ago in 2018, the mean family income was just $106,045.

While that may sound like a lot of money, when I did the math, it’s absolutely not enough to cover all expenses like rent, insurance, travel, clothing, sustenance, and the other essentials that come with finding comfort in life, unless you live in a small town where rents are around $1,000. If you live on one of the coasts, you know just how expensive life can be.

The average rent in a city like New York is $3,000 per month ($36,000 per year) and it’s even higher on the West Coast ($3,200+)Excluding rent, the average cost of living for a family of four in New York comes in at $48,540 (and $49,416 in San Francisco). So even with a six figure household income in a coastal state, after all the expenses, you’re left with around $20,000. 

But this doesn’t include taxes or vacations or emergency expenses (or saving up for the future!$20,000 doesn’t do much when you have all these things (and more) to consider. Moreover, these are just average incomes. The situation is even more difficult if you have suffered pay cuts or job losses throughout the year. However, while this is happening, there is another end of the spectrum where day traders are posting on their social media how profitable this year has been for them. Seeing this complete opposite situation has left many people wondering if they should veer towards day trading. And why not, after all, who doesn’t want to better their lives! So it’s natural that people are asking, even more than usual, how much money you can earn as a full-time day trader (or even a part-time one).

Investing

For beginners

My Investing for Beginners series has been going on for a few months now and ever since it went live.

Every single day I get emails from newcomers asking me how much they can earn as a trader. They want to know if they can earn enough to better their lives, clear debt, and finally create financial security.  As the creator of the Freedom Challenge, I’m also asked how soon you can recover your investment in the course. I will answer that for you right away: for a dedicated student willing to put in the work, you can expect to get a positive return on your investment within the first six months.

The output you get from trading is dependent on many factors.

…Some of which include:

The size of your day trading account.

How much effort you’ve put into paper trading to master your techniques before becoming a live trader.

Whether you’re a part-time or a full-time day trader.

How disciplined you are and how you’re able to detach yourself from your emotions when trading.

To put a number on how much you can earn as a day trader is not only hard but places unfair pressure on your journey.

Two Types

of Day Traders

When I’m mentoring people I mainly come across two types of traders.

The ones who expect instant miracles and overnight success.

This section of people is pretty large as social media and marketing gimmicks by the so-called “experts” have made beginners feel like day trading is some magic formula to get rich. They see the glamour and glitz but don’t scratch the surface to note the hard work that goes behind the scenes. Then there’s the second type of trader…

The ones who are willing to put in the work and follow right advice.

Let me illustrate this with an example of one of my students, Ericson Capistrano Adapon (EA). Hailing from Toronto, Canada, EA joined the Freedom Challenge in November of 2019. He had been trading earlier under another mentor who trades by the gut and doesn’t have duplicatable strategies that work, and he wanted a change.

About EA

EA was looking for someone with a different approach, as things weren’t really working out.

He wasn’t seeing the losses slow down, he stumbled upon my work. Well, it didn’t take long for his success to stack up. After two months of being in my program, he began turning profitable by January 2020. And it’s not just because he started working with me. The truth is that I see both kinds of traders in the Freedom Challenge; the ones expecting miracles and the ones working hard and willing to listen. And let me assure you, only the latter group sees success. I can give all the best advice in the world but if a student isn’t willing to follow it, it doesn’t really mean much. It’s like when you’re driving and following your navigation system. If you don’t pay attention to where each of the turns are, you can end up circling back around due to either a missed exit or freeway swap.

EA is one of those types of students who trusted their mentor.

He has managed to earn $400k in his first year. How much a day trader will earn is also dependent on how much money they start with in their account. Some of my students start off with $10,000 and some with $100,000 (or more). The amount of money you start with in your live account is contingent on how much you make. Coincidentally, a lot of successful traders, myself included, have lost half of their portfolios in their first month of trading, reassessed the market, then learned from their mistakes. I take every precaution necessary to teach you vital skills to help you mitigate your risk so you don’t fall into the same type of losses I did, when I first started trading.

And no, you won’t have to put printouts of graphs of different stock tickers all over your room like I did when I was in college, trying to figure out each of my exact eight strategies that still work today. It’s also important to mention here that EA initially started with a $4,000 account, he upgraded to $20,000 after just a couple of months of seeing success. By starting his account out with $20,000, EA had enough leverage to reap hefty profits on his profitable trades. Also from what he learned through the course, he understood how to mitigate risk when a trade didn’t go his way to minimize his losses to $1,000 or less, while making sure his profitable trades were breaking the five figure mark.

EA put a lot of trust into his mentor (myself) through our weekly webinars.

And through his own hard work and dedication to pick up and master the material, all this propelled EA to earn $400k in his first year. Not many day traders profit as significantly as EA does. I have a lot of five figure traders who have taken the Freedom Challenge, a handful of six figure traders and a few who have made more. For example purposes, a return of 20 times your account within the first year is feasible. As long as you completely understand what you are doing before trading with real money.

On the low end, my students start with as little as a few grand. But on average, my new students start with an account of $30-40k (this is what I recommend to them, as it provides you with more leverage and access to better brokerage accounts), so the money you can make quickly adds up. And this is just the average! For my hardest working students that really take everything I teach on board, I’ve seen a 200-300% growth within the first year. All this can get exciting, real quick…

So the question now is: how do you put in the work and how do you even know what you need to work on?

The importance of a

Good mentor

I cannot stress enough the importance of a good mentor. Day Trading is not easy, otherwise, everyone would be good at it. The truth is that only 6% of the people entering day trading succeed.

You can, of course, learn to trade by yourself. However, get this: even I regretted not getting a mentor sooner, and I have turned $27k into $7.5 million. I know I could have done even better with the right mentor, but all the ones I tried turning to were either trading by the gut or manipulating the markets and pumping up a stock so they could profit, while burning their students when they dumped their shares. That’s why I don’t pick out individual stocks for my students, but instead, teach them how to read charts and understand patterns, so they could implement my eight strategies based on data and statistics.

Finding an enthusiastic, knowledgeable, and invested mentor is not easy though and that is why I created the Freedom Challenge. 

What you can expect from

The freedom challenge

The first 3 months

The first 3 months of a new trader’s journey are absolutely crucial. These are the months that set the tone for your entire year (and possibly the next few years of your career). This is when you learn the material and decide whether or not you’re cut out for turning day trading into a full fledged career. That is why in The Freedom Challenge, we lay special emphasis on the first 3 months…

Personal Attention and 1-on-1 Sessions

I created The Freedom Challenge to help serious upcoming traders reach the pinnacle of success. That is why my students don’t just get the array of services that my course offers but also direct guidance from me. Every Tuesday and Thursday, I speak to my students on live webinars, going over the week and addressing their questions and concerns. I do a minimum of two sessions a week but sometimes I’ll do an additional one on Friday, depending on how much more attention the students need that week. I consider myself blessed that I’m able to share my experience and know-how with students who are willing to put in the work and commit to their success.

Focusing on the Right Information

One of the biggest hurdles newcomers face when starting to learn about day trading is the overwhelming amount of information out there. We wanted to address this hurdle as it can become quite difficult to navigate your way and many potential traders give up at this stage. In the Freedom Challenge, one of the first things we address is condensing this information. My team and I have gone through several iterations of this information and filtered out the unnecessary stuff. Our focus is only on information that is required for a trader to start trading and continue their journey in a fruitful manner, and successfully.

The Eight Strategies that Work

Next, we focus on eight plug and play strategies that have higher probability rates of hitting than any material you can get for free or in other courses. You will find hundreds of patterns online when you search for them. But as I’ve said before, they don’t work. People who have found success in trading have done so after thousands of hours of practice, research, and training. They haven’t done so by using strategies found on the internet. There are strategies that work and those that don’t. Knowing about the former is key, but there are so few places that you can actually find them.

My students get access to strategies that actually work. Strategies that I myself have used over the years, and continue to use on a regular basis. Strategies that help me earn $200,000 to $1.15 million a month. And they get to test and perfect these patterns, eventually learning to make their own. These 8 patterns and techniques I teach are absolutely essential to becoming good at trading and becoming profitable in a quick yet sustainable way. We go through them in detail, so that by the end of 3 months my students become confident to start placing trades. Direct guidance from me and lots of testing with these patterns bring out the confidence that every trader needs.

The Next 3 to 6 months

At the end of the first three months, the foundations for a successful trading career have been laid down by focusing on the right information and techniques.

The Details of the Patterns

Between months 3 to 6, our students are taken through the psychology behind patterns and strategies through not just my weekly webinars, but by paper trading as well. Through paper trading, my students are able to practice and learn exactly how to trade, so they know what to do when they get into live trading. So far they’ve learned the overall structure of the patterns but now we start getting into the nitty-gritty. At the tail end of this period is when my students also start doing live trades (moving away from paper trades).

Learning to Go Slow and Steady

This is also the period when many beginners tend to go too fast. The first 3 months of training will be so intensely useful (and exciting) that many students want to move too fast and trade too quickly, based off of their excitement levels. As counterintuitive as it may sound, excitement can work against you when day trading. Day trading requires your mindset to be detached from the money you are trading with.

My goal as a mentor in this period is to get you to a steady, safe pace. The idea is to tread ahead carefully and not lose too much too soon. If that happens, you can quickly lose interest. So it’s important to go slow and look at the bigger picture.

At Six Months to a Year

By month six, most of my serious and dedicated students have earned enough profits to cover the initial investment of the Freedom ChallengeAt this point, new challenges begin and this is how we manage them: 

Staying Disciplined

During the last six months of the first year, I focus on guiding my students to stay disciplined, as this is that point where a lot of accounts go haywire. They have made some money, and want to make more, quickly. So a lot of them start to lose their discipline and will want to break rules to win more and more. Instead, they end up losing because their emotions get in the way. Trading with emotions is one of the biggest mistakes most beginners make. At this point, our primary focus turns to managing your emotions and impulse control.

The key to success in trading after the six months of knowledge building is a shift in mindset. Traders who are aware of their own impulses, biases, and perceptions are able to shift their mindset to suit the field of trading. Overconfidence and overtrading are two of the biggest mistakes that set traders back at this point. Therefore these 6 months are primarily about training to stay disciplined.

Managing your emotions well is key to staying disciplined. Our focus will stay on going by logic, patterns, and statistics instead of your gut feeling.

What “Committed” Freedom Challenge Students Earn During Year One

You learn not just the skills required to be a full-time day trader, but also undergo certain levels of personal development so you stay disciplined, focused, and learn how to manage your emotions so you can perfect those strategies. Provided you follow the course diligently, put in the work, stay focused, listen to the guidance and remain disciplined, most of my students end up earning a 50% markup over their initial investment by the end of year one. The exact range depends on several factors, including the account size. The bigger your account, the better the odds of you making back your tuition money and more. For instance, when EA first started, he had a smaller amount than what is recommended but soon saw the value we offered, so he upgraded his account with his brokerage to $20k. This gave him incredible results of $400k in year one!

What “Committed” Freedom Challenge Students Earn During Year Two

For the second year of the Freedom Challenge, which most people end up renewing, we focus on honing the skills learned in year one and perfecting the strategies. Like I have discussed in this article, the markets tend to change or go through a shift every year. When that happens, new traders can do well with someone to guide them, as this will probably be the first or second market shift in their careers. You need to learn to adapt which comes with experience and training. Reacting appropriately to market changes is something you can only learn under the right guidance and is not something you can pick up from books or podcasts. So students who want to take their day trading career to the next level often renew for year two. By the end of year two, committed students can end up earning as high as 200-300% or even 500% of their initial investment!

For example, if you start with a $30,000 account today, you could be looking at earning more than $150,000 two years from now.

As we saw in the case of EA, the growth can be much-much higher. His story is pretty incredible and a testimony to how helpful the right guidance can be. Such a huge jump in earnings is exceptional, unusual but not unattainable. You too can see the kind of earnings that EA has. 

Committed students

What “Committed” Freedom Challenge Students Earn During Year One

What “Committed” Freedom Challenge Students Earn During Year One

You learn not just the skills required to be a full-time day trader, but also undergo certain levels of personal development so you stay disciplined, focused, and learn how to manage your emotions so you can perfect those strategies. Provided you follow the course diligently, put in the work, stay focused, listen to the guidance and remain disciplined, most of my students end up earning a 50% markup over their initial investment by the end of year one. The exact range depends on several factors, including the account size. The bigger your account, the better the odds of you making back your tuition money and more.

For instance, when EA first started, he had a smaller amount than what is recommended but soon saw the value we offered, so he upgraded his account with his brokerage to $20k. This gave him incredible results of $400k in year one!!!

Committed students

What “Committed” Freedom Challenge Students Earn During Year Two

What “Committed” Freedom Challenge Students Earn During Year Two

For the second year of the Freedom Challenge, which most people end up renewing, we focus on honing the skills learned in year one and perfecting the strategies. Like I have discussed in this article, the markets tend to change or go through a shift every year. When that happens, new traders can do well with someone to guide them, as this will probably be the first or second market shift in their careers. You need to learn to adapt which comes with experience and training. Reacting appropriately to market changes is something you can only learn under the right guidance and is not something you can pick up from books or podcasts. So students who want to take their day trading career to the next level often renew for year two. 

By the end of year two, committed students can end up earning as high as 200-300% or even 500% of their initial investment! For example, If you start with a $30,000 account today, you could be looking at earning more than $150,000 two years from now. As we saw in the case of EA, the growth can be much-much higher. His story is pretty incredible and a testimony to how helpful the right guidance can be. Such a huge jump in earnings is exceptional, unusual but not unattainable. You too can see the kind of earnings that EA has. 

By following the guidance, processes, and staying on track, you can see growth over 500% or more.

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