Millionaire Trader Umar Ashraf Story || Booming Bulls || Anish Singh Thakur
Well, hello everyone. My name is Anish Singh Thakur and this is a very special video. Right now with me there is a guest, I am having one person. Now, you know I made a story on Jesse Livermore then Rakesh Jhunjhunwala, then there are a lot of traders I am making stories on but you know as Jesse Livermore is no more in the world, he is not in this world.
And Rakesh Jhunjhunwala sir is out of reach for the time being. But there is one person you know, you can see you know for youth. He is the number one trader for youth. Be it India, UAE, Dubai, Europe, America. So, I am having someone when, I don't know from when you all are trading but the year 2019 when I started my trading. If you write trading on YouTube, trader then
only one person comes up and is a millionaire trader. There used to come only one guy and his name was Umar Ashraf. I think you all, at least 50-60% people must know him. So, I am bringing Umar Ashraf in front of you and we will discuss a lot. So, Umar brother, can you please? Hi Anish, what's going on? How are you? How are you? It's great, great. And welcome to this show. You know this is the first time I am making any video, any video you know, like a podcast and you are the first guy over here and I am very happy to welcome you to my Indian Audience and a lot of Pakistani people watch my YouTube channel.
Welcome brother, welcome. Thank you, thank you for having me. And I am very happy that you are here And I will tell you something and then I will ask you. I will tell you that when in 2020-19 I searched a lot on YouTube, there was no content on YouTube. Only you were posting things on risk management
and there was one interview about how you become a millionaire or something like that. So you had, I believe a long journey of 6-8 years in trading. Yes. So, can you please share a little bit about the journey? Sure, sure. So I started when I was 18, I am 27 now so I have been training for 9 years.
First 2 years obviously struggled, a very hard 2 years of trading. Took me about 2 years, 2 and a half years to get my flow going and be good at trading. I think year 4 and 5 is when I really really started doing good and from there i just reworked on my strategy, reworked on my mental, my psychology and slowly improved day in and out. Ok alright so you know, I know my audience. I mean I know my audience, that my audience is kind of like you know what they expect right now from you is only one thing, strategy.
Umar brother please give me one strategy I also get these DMs everytime that Umar brother please share some strategy. I need one strategy, one strategy. Umar brother, now you talked in Hindi, Urdu. Now the audience would be thrilled because I didn't know about this so my audience would not even know that you even speak our language as well So it is ok, no worries, let me tell you that you would not be getting any strategy guys.
Now we will talk about the story, about the psychology and Umar let me ask you one thing. Even if you have a good strategy with a good win rate, good win size, what do you think? Without psychology will it work? No Absolutely not. Not at all. I think psychology and your mental game are as far as strategy. I think psychology is more important, it is more important.
Ok, I know, I also believe this and Umar you know when we say psychology, psychology, psychology. Everyone today is talking about psychology. Psychology is 90%, everything is 10%. Let's dive into it and you know let's define what is psychology, psychology, what is psychology? I think psychology is how I talk to myself after any trade and any loss or any profit. How I self-talk, I think that is the psychology right? Yeah same, so I agree, I think when a person is in trade, what the person says in the trade? What does the person think in the trade? You know fear, emotions such as wanting to make more, selling too early, being scared, being greedy, all these things are there.
Every person has a different psychology within itself. Every person has different emotions. Every person has a different thinking within. So for example, you may be greedy, I may be fearful. Right, we may have different psychology, we may have different approaches to the market. So, in this there is a main thing that you have to understand that what is your problem? What is your problem in trading which is difficult to achieve? And how you have tackle it? So what I do is I focus on what is the problem, ok. How do I identify the problem?
And then how do I fix the problem? And the problem doesn't come in strategy. See, learning strategy is very easy in my opinion, ok. Learning about yourself, that how do you think? How do you trade? What problems are there in you? What deficiencies are there? Learning about that and fixing it is the hard part about trading.
This is a thing which a lot of people can't overcome. Ok and what do you? See, now we should tell people how to develop a good psychology as well. So I will give one point from my side.
I was also facing the same problem initially. It's not about, everyone thinks it's about strategy. It is not at all related to strategy. Yeah The most important thing is self-control, planning and everything.
Now the great way of making psychology is journal writing in the live market. When you are in a position or you are about to take the position, when you take the position or you are about to take the position or when you take the position. After that what it feels is should I sell it? Exit it? Hold till pivot? Let it reach to EMA? Means we get so much of things. If you can note those talks by pen, all the feelings Yes and later on review it and when you review it, when you do review daily review and weekly review is a game changer. Yeah
Yes, of course. Because when you do a daily review we get to know that I did the same mistake on Monday, on Wednesday too and Friday as well. Then I am repeating the same mistakes a lot of time. So, I think journalizing is one of the best methods to improve your psychology. Of Course yeah, I think journaling is the most important thing and that is why those who follow you know who build trade more because for me the very big thing was journaling. Right, journaling the strategy, how can I improve strategy and journaling my emotions, my psychology, my thoughts that on Monday I took the trade. So on Monday why did I take it?
Was it because of strategy or was it because I see everyone making money? Means what was the reason? Why did I sell this trade? I have seen a trade with journaling, I have sold some trades. That is why I am up 2000 dollars, I am up 20000 dollars and I am like I don't want to give it up, I want to take profit instead of looking at the chart. What is the chart telling me? I see that you start focusing on your emotions instead of chart, instead of price action.
So journaling is the most important thing, that's the most important thing for traders that journaling your thoughts, your emotions. What you are thinking? What you are not thinking? And how to fix that? Journaling is not like you do journal and find your problems. Now, when you understand what the problems are then the goal is how to fix the problems. Ok, and you speaking about tradezilla, can you explain to me exactly what this tradezilla is? Yeah Of course, so tradezilla is a journaling tool in which you can upload your trades. When you upload your trades then you can see where you have bought it? Where have you sold it? You can tag strategy. You can, I can show it to you real quick. You know, I will share my screen.
Yes, because I believe this is for American market right now, not for us right? I am speaking to; I am working on adding it to you guys as well. I told you the best broker is Zerodha, Yes I mean most of the people are having Zerodha account. Yeah, so you can start, yeah so seeing from it, any kind of data which is there. I am having contact in the company I will share the number with you, Ok Oh yeah, that will be perfect, perfect. I have up to owners you know. Like, I can contact you. That's perfect.
Ok, so this shows your stats, how you do one day, how do you do in terms of good trades bad trades or if you go in some day for example, This day 103k, when I click it Now it will give me full trade details when I click on trade will tell my R multiple what my R miltiple is? 9 I risk 6700 to make 61000, good trade Very good where did I buy? where did I sell? what was my set up? what was my strategy? What was my mistake? Right? it shows all this. Then you can do your journal, notebook and what was my pre market game plan? What was my daily recap? What mistakes have I made? This I recaped here. Game plan is 6/10 and execution 8/10 and solid exit, actually great exit but entry could have been better. You know, everyday there are ways to improve. Every trade, every single approach you have
can improve. So your job as a trader is to track your trades, on which things to work on? Which things should we not work on? How can you improve your psychology? and how you can't? So when I go in some of my trades, right. Let me find one that I have right here. When I do my day recap, I write in that what mistakes were there? Mistakes I made. Early entry, shortened right on open with no real confirmation. Took trade 5 seconds in. R multiple was terrible as well.
Risked 3.9k to make 1.1k. This is one thing that most people don't understand. It doesn't matter how much you have made, It matters how much you have risked to make that much.
So in this trade I have made $1100 but I have risked $3900. Ok. People see that we have to put $1100. Yeah And it is difficult to face this thing because when we make $1000, we forget. We forgot it, earned money that's it.
right right right nice. And when the person forgets many times the mistake is so big that one trade comes and wipes out all the profits. So when you journal constantly and focus constantly on what mistakes you are making and what good things you are doing, then you can work on those things. That today I made 1100.
Ok. It feels good like what my mistakes were. I have risked $3900, no good, bad trade. I don't care if its green is still bad trade. These things you have to reinforce yourself and repeatedly say to yourself to stay aware. If I don't reinforce myself then in 3-4 days I might risk 39000 and risk losing all of that without having a proper you know game plan. Right right and the most
important thing is to review this. yes, yes yes yes. Let me know when you are able to look. I will share the number and we will talk. We will try to get it in here. Of course. Great tool I believe So Ok so we talked about psychology and how to improve it and I said journalizing and you generally showed me this.
Ok so one thing is there. Next thing Umar, let's talk about something about you know technicals. About trading I think there are 4 quadrants of trading. The first quadrant is technical analysis, one has to be good at price action and some indicators. I believe only using average and pivot and Fibonacci tools I use else only price action.
Second quadrant I believe is money management, risk management, about the same thing: how much are you risking about the risk reward ratio, about the win size, about the win rate and everything, about the casino rule, about the law of random distribution, all these things. The third quadrant is phycology and how you think how you behave when in a winning trade and a losing trade how much you can like the last quadrant I believe is called life management. I believe meditation; 100% workout is the most because every business, every person has its own assets like every business has assets but for a trader Me, myself I am my asset, you are your asset, So if you are not working on yourself, you cannot I believe grow as a trader. Absolutely. So I think these 4 quadrants are there. So like talk one by one; we talked about psychology, let's talk about the technicals So I believe I am speaking on behalf of the people. Umar, please share one good intraday strategy with us.
Any strategy that you would like to share with us. Sure, so I will share a few right now. And I would like to know that you usually trade options? I trade options and shares but mostly options. Options, ok Yes. So as I show the strategy there are 2 things, the one who doesn't have strategy right now, the main thing you should focus on is the one to two strategies.
Okay. And focus, work on that strategy and see how it can be improved. The main problem people have in the beginning is that they try to do a harsh strategy at first. One day we will do this strategy, tomorrow we will do the other one, the day after we will do another one and say this strategy works or doesn't work. Learn the strategy and understand it. And understand this when we can use this strategy. One strategy cannot be used everyday. So one strategy should be used today, tomorrow
maybe that strategy doesn't work and the day after that too. When the inplay comes you need to know when to execute that strategy. Very important to understand that. I totally agree. Yes. So now I will show you a few setups right so let's go to some trades I taken right let's just say we go to a blowing top so I have a strategy it’s called the blowing top.
Right. What is it called? The blowing top. I call it the blowing top yeah so I will walk you through what I look for and things like that.
Very nice. So in every strategy you have to focus on which strategy is used in which time frame. Here we have to trade in opening, have to trade in closing, at what time we have to trade and what all is its criteria. Ok Every strategy has criteria.
Ok. This is one of my strategies called the blowing top. Ok. This strategy typically, on the open I trade In the first few minutes, like the first 5 minutes, the market opens at 9:30am here or maybe 9:32am , 9:33 am, 9:35 am, I would look to trade this strategy. Ok. So in this strategy I see is that I trade primarily like Amazon, Tesla, Apple big names.
Big Caps. So I trade with big names and look for a spy and QQQ, how is the spy moving and how is QQQ moving. Basically how is the overall market moving? Ok Right? So what happened this day I traded amazon I saw in amazon that On the open I want to see weakness I want to see it move up but the move up needs to show me weakness Market opened 9:30 am, 9:31 am, 9:32 am, 9:33 am As we are going to 9:33, 9:34 I am seeing weakness on the tape I am seeing weakness in the market or we are going into my main level 30, 20 on amazon Ok When we go here we see weakness Because we see weakness I am going to play puts I am going to shorts, I will play it in downside Here I have entered 30 contracts at 1825, starts move down Here I have sold 10 and then have sold 20 here This trade people who are watching I have made 61000 dollars in this trade I don’t care about 61000 I care about my R multiple In this trade my R multiple is 9.12 Meaning I made 9 times my risk amount which was 6700 dollars Alright alright so that is the key thing for me Yeah so Umar you said that you, we enter because you saw weakness Yes so you might inspire and then this level is important resistance level as per you then the first red candle You enter after this red candle right? At the 934 I believe, yeah so 934 red candle weakness is coming Enter stop loss at 3020 This candle close then you enter on this trade No I didn’t enter on the candle close I enter on first rejection Candle is starting right here around 40 seconds in 40 seconds Ok, so you decided, ok ok, great, ok ok nice And if you see all the other trades like Let’s just say we go to this trade here Very similar action sees 9:30 we open, we get a rejection I got in I got out, the problem here the same setup but I sold early Ok you see I got in here I sold right there If I held little bit more I could have made on this trade maybe 10000 or maybe 12000 dollar Now see in this trade my R multiple is 0.68 I risked 3800 to make 3200, terrible Trading setup was good, trade setup was there But I didn’t execute well my execution was not great I sold too early So same setup obviously setup reverse Same setup in these setup are meant for me the way I trade them I am looking in the open.
That what is happening in the open? In the open, what can I see? what can I see that in open what can I see in this trade? Like are we seeing a good open this is also a good strategy morning top reversal In this I am seeing that in morning we see a strong rally the rally is not sustain Rally doesn’t hold it’s not able to continue, I see chop The chop I see I try to capitalize on chop Because there a pull back So instead playing a pullback buying and playing upside I play the downside This opening is on drive you miss that and when it strong move on open Typically, there is a pull back I look to play pull back, this pullback is happening, opened strong, weakness is coming Got in, got out, got out, right right, so I can see that you catch around 1% in that and you are using the 1-minute time frame for this 1 and 5, you trade like scalping like quick trades you are taking Basically yes, most of the trade how much long do you hold them? We can see right now most trades I don’t go over 30 min, 30 min So all my trades 30 minutes yeah I have trade from here we go We’ll go all through them I have trade under one minute I have trade you know 5 to 10 minute Made the most money this year I made this year 200000 this year just holding for 5 to 20 minutes And 5 to 20 minutes I have 26 trades Ok alright, yeah so like my max trade I held was probably 1 hour 1 hour, ok Yeah ok that’s nice And if you and if you look at my trading Most of my trades are on first hour, 9:30 to 10 to 10:30 I am done by 10:30 And how do you approach the market after that do you keep looking at the market? No, I have a cut off period So I say the market, the US market is opened from 9:30 to 4 pm Ok Ok You stop screen now we’ll talk now Yeah So US market open 9:30 to 4 pm So the majority of movement happens in first 1-2 hours After that Algo trading happens after that volume decreases After that trading become difficult Ok? I at 11 am means 1 and a half hour in the market keep cut off period That after 11 am I am done And you don’t even look at the charts that what, No, Because I am going to look at the charts I say this at every trader, ok? What is the purpose of trading? The purpose of trading is you want freedom Now imagine you are trading from morning to night you are sitting on computers What's the point of trading then? Right Why not trade first hour, first 2 hour and then be done over Right be done the first hour; 2 hours you make most money Yeah Because first hour, 2 hours based on my strategy based on the way I trade That time my strategy works, my strategy will not work at 12 pm, my strategy will not work at 1 pm They work on the open so most of the team or students they also follow just the same strategy like you Yeah so most of them yes some of them adjust to their way of trading But the most of them the way I trade typically yes, like morning hours Yeah that’s it, you don’t do swing trading sometimes or you also take swings? I do take swings, I haven’t taken swing in this market Last year took many swings this year not so much One swing you took about AFRM some stock AFRM, yes yes AFRM A FRM, it was a good one. What was your buying price and exiting price? So AFRM I bought maybe at 60 dollars I sold at 120 then I bought at 105 and sold at 130 Again and again same thing did swing that and day traded as well over and over again I believe you made big money at that trade exactly On AFRM total I made probably over a million dollars just on AFRM That's great Yeah You must have told a lot of story about that When you post story you know we even talk my friend Prateek He also does, Umar posted this. Have you checked this? So I check, okay okay We talk like that only yeah no no it's crazy Ok so that’s good we ok I have one more question I think I should ask this to someone You know who is a pro trader this is the question in everyone's mind Especially when people are doing option buying Yeah You know most of the people are doing option buying also but people with large capital do option selling They only sell the options you know and when market go sideways they make the money That is a great strategy right but Correct when people are doing option buying It is very volatile you know you can make a lot of money you can lose a lot of money fast so about the stoploss You should put it in system or you should cut when from your hand like you know Right click and exit when the candle is closing on that level Because a lot of that time the wicks are there they hit in your stop loss and again go hit your direction Yes So that is very frustrating Yes So how do you? You know, approach this like how do you manage this? Sure, 2 things a person who is starting new do not trade options Trade stocks in my opinion thank you so much for saying this Thank you so much for saying this I am having a lot of students And a lot of subscribers everyone is asking on the first class First class they are asking about options tell me about trading No I always tell them you have to 40 trades at least only in equity or option selling That is ok, but option buying you should do after 6 months at least ok I agree No no you are right no no no worries Whoever is starting should not do option selling or option trading trade stocks get familiar with the platforms Get familiar with yourself How you trade? How you react? What are your emotional barriers? Then go in options The problem in option is that if you do not have self-control And you hold the option you will go to zero but stocks most of the time you trading tesla apple big names they are going to go zero Right You’ll lose 10%, 5%, 20%. In option you may lose 100% So in starting don’t trade options Right, that’s number one Now people, what was the question? I diverted, The question is stop loss Stop loss, you have to put in or you have to manually exit, Yes yes for option trading I personally don’t put stoploss in I put stoploss but I do mental stoploss Because market makers will see your stoploss in options and stop you out Because option have low liquidity Option don’t have that much volume So when market maker sees that there is stoploss They take price to that level they stop out you And then take stock above So I personally take manual stoplosses But I follow them So if I say 18 dollars is my stop, I stop out at 18 dollar Most people they don’t do that they will not They'll not Same how I answer this question is there are two kind of people one who are experienced and one who are like new New people should always keep system stop loss Yes And if you hit the stop loss close the day But if you are experience and your hand will not freeze When you right click and wait to exit or not? If hand freezes then you can’t do You have to be very mentally rigid that I can accept this red I can accept this loss Then you can only so this is how I approach as well I also give with mental stoploss And I know because of mental stoploss you can risk a little bit more than you planned That is also possible because decay and everything because of volatility because of big red candle You have to be ready for that as well so I that’s why yeah Absolutely So good so we talked about you know first About technical analysis let’s talk about money management Like what advice you will give about the money management or risk management you can say Like one advice you’ll like to give to new traders Advice I give to new traders is start off small Don’t start off a lot of money And start off with money you could afford to lose Everyday I get dm's that I took loans I have to pay loan back I lost it in trading Why are you trading with borrowed money? Because when you trade with those money that you need or its borrow You have an attachment to it That attachment makes you do a lot of bad trade Because you are oh my god I can’t make loss I need this money Oh my god I need to make x amount of money So it becomes problem with those money So if you have to borrow money or if you want to use money which are saving Or can’t touch don’t trade with them That’s a rule number 1 Number 2 - Start with small amount 1000, 500 whatever you know different demographic different markets but starts with small amount get better at trading start off with stocks Get better give yourself time and then add more money As you see success Alright Yeah The advice is you should you start with less capital I also tell my students my subscribers that you should when you when you are new trader you should think This is my tuition fees and how much tuition fees you pay very little So you have to use very less capital and think this is my tuition fees The money I am using to learn and once you have some win rate You are able to hold your trades long and able to cut your loser loss fast once you are done with that then you should increase your capital Great I agree alright one last one question I take ask from your psychology quadrant How do you know how you manage when you hit a big loss? This is a very big and serious question Because we all know it feels very very bad when you have a rough day Yes Our nights are, even in the night time you are thinking about the loss You are unable to eat your food You know it is very demotivating How do we overcome this? I believe you are having long journey 9 years You have faced big losses in your career as well Of course, Yeah Absolutely So 2 things right First thing, if you are having a big loss you are responsible for it What I mean by that, this is too much bad Umar brother. I know.
You are responsible for this meaning I ask this to every trader that what is your game plan? You know, what are your trading rules? What is your risk management plan? If your risk management plan says you should lose 1500 dollar per trade And you lose 1800, ok fine You lose 2000, ok fine But if your risk management says you lose 1500 and able to lose 1500 but you lose 10000 like That’s not trading you are gambling like you should not be in that predicament That’s number one you are not trading I will not even call it trading that is not called trading Say I have done gambling When that is the situation I have done trading and I have lost 10000 No, I have gambled and I have lost 10000 Separate those two that’s number one because you have to be honest with yourself Correct Number 2 to overcome that As you know when I do when I go bad periods or bad times I go into my data That why loss is happening Like what is the reason Sometime loss happens some losses are good looses Right There are loses in trading that are good losses cause you need them to have an edge You need them to take positions you need them to take opportunity But now did you oversize did you not follow your stop What mistake did you make emotionally? Was it a good trade you have to ask those questions and then there the only thing You can only do is work your way back up I always say like everyone including me including you including everyone watching We are going to come through more bad problems The only thing you can do is you hit those bad points Say Ok how do I get myself out of it and What I do most of the time is take break after I trade you know looking at my loss Looking at my mistakes after looking at what I need to do And then from there I work on building my confidence up if it’s a very big loss The last big loss I had was in 2020 I shorted the market I lost 500 thousand in realize profit in about 800 thousand in unrealized profit in total So that was my biggest loss right and that loss for me has been A blessing in the sky because i have learned many things from that loss About myself and market specially about myself But after that I haven’t had a big loss My biggest loss this year in term of trade or a day Is probably 20000 My biggest day is 100 thousand ok So you know relatively I am not at that stage anymore Or to go in, go on a tilt that I started destroying my account And if people are dealing with this problem You should not add more money You need to work more in yourself because you should as a good trader You should not have big losses that were not plan If you are having them You are not at the professional level of trading yet Ok Yeah So you said that first of all you have to be honest and say that this is not trading this is gambling So at least be honest so now you are not in delusion That oh my god something strokes of bad luck happen to me Yes Because of god, i am a bad person Something like that people start thinking So be honest Second thing you need to know the reason first if you are able to Yeah You know figure out the reason then you can work upon it exactly Yes Good losses and bad losses very good thing you said That because even a good strategy will give you loss that is No strategy will give 100 percent result So some losses are good losses and you have to take them, it's ok But some losses are bad losses when you are breaking your own rules Yes, right absolutely absolutely Alright so we’ll go to next quadrant One life management quadrant advises suggest just one thing i don’t want to cut you off But I loved the fact that you brought this up Most of the people don’t put their life in quadrant They don’t put Right and that shows that you are an experience trader and you know what you are talking about Because I always say that what you do in your life is a reflection of your trading If your life is not in order your trading will never be in order Alright and you need to go through that and that’s a very good point you brought Because many people don’t know about it Correct correct A very good so thank you from my end For bringing it up and sharing that with everyone Thank you so much I am feeling very good because you know you are the when i did I did not start my YouTube channel that time I use to see your videos you know When you are seating in your office telling about risk management Giving that calculator that you put something in detail I have used all that I have seen on YouTube you know On like you are the only trader in the world at that time I believe so you know now we are talking and you are telling me this I am feeling very good thank you so much So now what will you suggest how life management quadrant should be approach as a trader Because you know I want to say 1 thing before you start you know when we are in school In class 5th, 6th, 10th, 11th, 12th we have guidance that you have to do this have to do this Yes Go to school go to tuition go to homework go play with your friends Sleep at this time and then college something you have But when you are out of college you have no guidelines now It’s you, on your own Exactly And then we lose track of any kind of practicing Especially if you are a business man Trading is a business Exactly people are doing job at least they have some guidelines from company But as a businessman you don’t have guidelines you are the boss So people have no management at all so what do you think Should be the approach Great point yeah I Trading management, I mean personal life management my approach is this Like i said whatever is going on in your personal life is a reflection to your trading Will be a reflection of your trading So if in personal life you have problem you are stressed you are not sleeping well You are not eating well you are not going to gym you will not perform in an optimal level Trading is a mental sport it is a mental game Ok So for you to perform in optimal level at high level in trading You need to be sleeping well you need to be going to gym You need to be meditating you need to take care of your physical and mental health Right, you need to take care of all that So you can think right I see many traders you know I slept for 2 hours 3 hours and I am like how are you going to perform at high level With no proper sleep no proper rest You know people have problems in your personal life Everyone has problem but how do you deal with these problems Do you let these problem consume you? Do you let them stress you out? And these problem always comes in people’s trading And I always say them that in personal life there is a time when many problem comes Don’t trade in trading this happens that People put their personal problems in trading And that leads to big drawdowns you know big loses big problems So if you are going through rough patch in life which is normal Take a step back, don’t trade But before that you need work on your mental You need to sleep well like i said eat well go to the gym Like gym is a priority Every single day 30 minute to an hour no matter what, It is a must Sleep is a must eating well is a must, right? Doing all these thing to make sure you have mental clarity is a must Because trade when you are trading with money high frequency and everything Your mind has to be very sharp To execute, to think, to process So if these things are not right so how are you going to process and How are you going to execute at a high level correct yeah? One when you said about sleep You know 1 thing I talk about psychology that New traders you know what they do they do homework They do homework all night They are sitting let’s say we have NIFTY 50 You have DOw JONES they will do all the homework on all the 50 stocks of NIFTY And in all the timeframe from monthly to 5 minutes and they right also That in monthly this is being made In weekly this is been made In daily this is being made In 10 minutes this is being made And they sleep at 5’o clock at the morning And then they wake up at you know 8:30 And they are not their mind id totally clutter and then they made loss And they think because they have done hardwork they should win at trading as well But that’s illogical because you know that is a that’s how most people think If I do hard work, I will get Trading is the only thing where hard work will not give you anything Its total smart work its total mental work Yes Right? Yeah absolutely, I say to people that there are people who sit in front of computer for 10-12 hours Because I am in front of computer for 10-12 hours I need to make money No, you don’t need that much Like I tell you my routine right I wake up I go in front of my computer 30 minutes before ok, I do my pre market work in 10 minutes I walk away from computer I drink coffee and I come back in 9:30 I trade until 11, I am done At the end of the day I spend 30 min to an hour for recap prepare for tomorrow So on every day on market day I am spending 3-4 hour max including my trading People spend 10 hours a day 15 hours a day And they do not make money because they over complicate trading Trading trading is something that is both very simple yet so complex But is only as complex as you make it Correct right? So when person sees trading closely Trading is very simple thing if you see from simple level You can tackle it so from simple level how I see I don’t need to know everything Ok I just need to know what I need to know to make my money What is my strategy when my strategy works what is my psychology problem? How do I combine that and how do I use it Ok I don’t need to know, what is happening all the 50 stock in this company or that company that market I don’t care I will trade amazon, I will trade TESLA I will trade, let’s say SPY That's it and watchlist as well And my watch list to 2-3 stocks a day great I don’t have a watch list of 20 stocks I can’t watch 20 stocks at once No one can watch one more point I will add New trader thinks that 15 or 20 stocks they have to watch They think the more number of trade they take maybe luck will happen And some trade will be profit that is so wrong approach You should never take more than 1 trade at a time I believe Exactly No no the same I agree and even screens Trader thinks if they have 5 screens, so money will have made I also have 3 screen setup I don’t use it I use only MacBook that’s it Same, I I also had 4 screen Now also I have but I don’t need all 4 There? have also put after seeing you No, No You know realistically don’t need it Its beneficial its beneficial because you can see everything But when I trade after seeing everything I focus on one screen And I Yeah when we see more screen we get more confused Yes, wicks is telling this open interest data is saying this Future data is saying this price action is saying this that index is telling this So more data confuse you It led you to exit early maybe you know some problem it will create The less you see is good according to me Exactly so many traders have this problem that They complicate a trading a lot that I have to study every stock I have to study every indicator I have to know this and that Some traders use many indicators I don’t use indicators Price action, moving averages and VWAP, period. same Other than that nothing And if there is a problem in my trading I don’t say that I need a new strategy No First see what is the problem Is there a strategy or not if there is strategy and it was working earlier? So why is not working now Maybe market condition have changed Maybe there is changes in your personal life which you can’t see Maybe your mental level has gone down Maybe some other problem and then people change the strategy Without fixing the root cause of the problem Right Alright So last question the same question I’ll say after you free at 11 what is your routine what exactly you think people should copy people should follow about your day after 11 am yeah so personally so for me my situation we are building TRADEZELLA so that’s take away my time working on 2 other projects, those project takes away my time So i am force to be off by 11 because I have meetings calls things like that so for others who are doing only trading after 11 or what say 12 schedule the gym Go to the gym you know schedule other source of things where after the market you recaping? you have an hour to recap or enjoy your time And calendar block these time don’t say that I’ll do recap later no no no everyday from 6 to 7 is my time to recap because you were saying there is no boss in trading no structure people loves it also it is very negative thing like boss says I need this till 6 so you like So you'll like ok fine in trading you don’t have that you can say I’ll journal later, I’ll recap later and they never do whole day past and nothing is done there is no structure and second problem is this because you have so much time the work that can be done in one hour that is done in 6 hour right? They are on YouTube Instagram twitter everything while, No you sit from 6 to 7 want to do recap do from 6 to 7, state it yourself hold yourself accountable follow through with that don’t be all over the place as a trader be your own boss but make sure to calendar block the times you set the appropriate times have outside hobbies outside the trading because some trader which I have seen trading consume their life their day and night is one thing only which is trading and mentally they get destroyed with money you know financially trading wise, loss happens terrible day made money it’s the best day Correct I say that’s not a quality of life this is not a life you know that you have lost money your whole day is bad today you made money you are the happiest person this is what happening with him the personal life get too attach to success of your daily trading Correct I had days I had days like where I made 100,000 Ok or 200 thousand a day normal day because I can have a day of losing that so if I react on my good day now I have reacted on my bad days and when there is bad day I say to myself to think about next 1000 trade so if money has made next 1000 or 100 trade can take money and go Right if money has lost next 100 trades money can come back Correct so that’s keep your quality of life healthy and your trading doesn’t interfere with your daily life that i had a bad day they say that you can identify good and bad trader by looking at their faces not telling if they made money or loss money today wow what a great point actually and if you see a trader and can know by his face that they have made money or lost money they are not a good trader yeah I agree focus on the process not on the profit on the process not on the money Yeah it should be the chart you should be looking not your position book all the time yes exactly All the time, Exactly ok fine, I believe we didn’t get to know while talking we have made a 40-50 minutes video I believe wow actually yeah, it is seeming like nothing has been talked No, exactly there is so much more so let’s so you know one last thing I would say and we’ll close the video one thing I would like to ask you about meditation ok I think meditation is very important one of the most there is a lot of type of meditation number one, right? but beside going to different type of meditation meditation is very important because it will help you focus it will help you to being aware of thoughts there are many people who can’t meditate for 5 minutes they cannot sit quite for 5 minutes in their head and the reason for that is because of social media because of phones you get quick dopamine if I go to my phone every 2 minutes Instagram twitters likes this that new photo TikTok etc. so it’s messing my mind my focus goes down my thought process goes down I become less aware my depression goes up meditation 10 to 15 minutes a day minimum puts you in a state of mind you actually process your thoughts and control your thoughts and have focus now think about it if you can focus and process your thoughts right? how beneficial that be for your trading forget trading how beneficial for your life Life, overall life Yeah so I think meditation is very important every person should do it if he doesn’t have time if they you know like some people I don’t have time if you don’t have time then do for 1 hour Then do not eat then drink water yeah you know until you make this actual priority like drinking water and eat food Yes breathing then and then only you are going to do it Yes, absolutely 15 minutes a day minimum at least I will give my view on about this life management quadrant that I think gym going, going to gym is very important because your brain is in your body until you have good energy in your body brain will also not have energy secondly I want to say meditation is so important it has literally changed my life I believe meditation has 2 benefit first of all The biological benefit you'll get you will become calm, relaxed, mind, brain will and second you get connected to super power as well luck improves I believe I do meditation you know for 1 hour I try to do 1 hour everyday but if I can't do 1 hour that day I go for 15 minute minimum wow it been 2.5 years now I have not skipped one day Not even 1 day this 2.5 year journey I just received this gold button award
I can see that Yeah wow just now listen Listen I'll say from my end I’ve seen your journey at least 60-70 percent of last 2 years and your journey by far is the most impressive journey in terms of growth and trading great from every every quadrant I am telling you I see sideline from your journey and it is super impressive what you have built and I am telling you I say it every time every single thing is so detail so organized and it is so well thought out that and people don’t see that there is a lot of hard work that goes behind the seen a lot of people involve and running that and organizing that is not easy so hats off to you and what you have accomplish and your whole team has accomplished in very short period of time so that’s phenomenal by the way Thank you so much Thank you so much So now I said about this body and meditation last thing I’ll say about mind that you need to give constantly food to your mind Yes like some good books you should read some good books you also read books I see you are a reader whenever you travel I see you read books you also read online read books So books reading books is like giving food to your mind because giving food to your mind it will automatically absorb social media or something negative or some worry fear or something negative so it’s very important to give constant to your mind some right kind of books Correct Napoleon Hill books, Tony Robbins Robin Sharma, I mean so many people are there so many people are there So these thing I think should come in life management Alright so these 5 quadrant talk very well had fun Yes This content I know we will get comment on this that 1-2-hour people will see this people will watch yes people will watch only serious people will watch this those people who have watched congratulation I hope I want people learned from whatever we talked if you made pointer 1, 2, 3, 4 I think Its 3 points 3 point what you have learned from Umar Comment it ok do comment write it well let’s see Everybody will get help if everyone write everyone will get help OK Secondly I’ll share Umar YouTube link as well in the bio You go, if 1 lakh subscriber doesn’t happen so there is no meaning of coming I believe you have to go and subscribe his channel that will put pressure on him That I also have to put content So that will be everyone So just go subscribe his channel as well And like this video share this share it to everyone After this I don’t think I can interview another this much great celebrity Ok so just share this video as much as possible Thank you so much everyone and thank you so much Umar for joining us All the best to you Thank you you come to Dubai because I can’t come to USA I can’t get visa, tired from applying so many times. I wanted to go TOMORROWLAND but couldn’t So when you are coming to Dubai you say 100 percent 100% thank you for having me again I appreciate it thank you so much Umar Thank you so much Thank you Yeah Ok
2022-08-13 18:42
