Day trading is a very exciting and rewarding venture, but feeling like you’re starting over from square one can be very overwhelming. If I had to do it again, trying to hit $10,000 a month in as short a time as possible, I’d have it as structured and almost as clear as day. I’ve already done this and helped others, like Stewart, achieve the same goal whereby in nine months he made $90,000 in a single month.

Let me share the steps I’d take to streamline the learning process and set myself up for success.
Step 1: Learn the Fundamentals
Absorb the basics of Forex trading. A great resource for this is BabyPips, a platform that breaks down essential concepts like:
- Currency pairs
- Spreads
- Brokers
- Margin
Understanding these fundamentals builds the groundwork for your trading journey. However, while BabyPips offers great insights on the basics, I’d steer clear of its trading strategy advice. While helpful for beginners, it doesn’t provide the advanced knowledge needed for consistent profitability.
Step 2: Choose a Trading Style
Once I’ve covered the basics, the next step would be to select a trading style. The key here is to avoid outdated methods, such as:
- Retail concepts like trendlines and support/resistance, which have limited reliability.
- Price action patterns, including head and shoulders or double tops, which don’t offer consistent results.
- Indicators such as stochastics, MACD, or Bollinger Bands, which often create more confusion than clarity.
I would be focusing on Smart Money Concepts, which is a trading style developed from the primary drivers of price movement. In contrast to pattern recognition-based methodologies, SMC focuses on causation—like market structure, liquidity, and supply/demand.
Step 3: Identify the Right Mentor
It’s essential to have a mentor that can speed up your learning curve. According to research, 93% of self-made millionaires credit their success to mentorship. A good mentor bridges the knowledge gap, guiding you from where you are to where you want to be.
If I couldn’t afford a mentor initially, I’d consume their free content online. However, I’d prioritize finding a single, reliable mentor to avoid getting lost in conflicting advice.
Here’s what I’d look for in a mentor:
- Substance Over Flash: Avoid those who flaunt wealth to attract students. Instead, focus on mentors who prioritize education and provide actionable insights.
- Genuine Expertise: Choose someone who can speak in-depth on trading concepts without relying on scripted presentations.
Step 4: Build Foundational Concepts
Next, I’d develop the three core components of a profitable trading strategy:
- Market Structure: Understanding price direction to establish a clear bias.
- Liquidity: Identifying where market orders cluster, helping predict price movements and avoid unprofitable areas.
- Supply and Demand: Marking areas where price is likely to react and reverse, creating points of interest for trades.
By mastering these concepts, I’d have the tools to build a reliable trading edge.
Step 5: Create and Test a Trading System
A trading system is your roadmap for entering and exiting trades. It should include:
- Rules for determining market direction.
- Criteria for identifying potential trade areas.
- Entry and exit strategies.
- Guidelines for trade management and identifying when not to trade.
Through rigorous backtesting and data collection, I’d refine this system until it proved profitable.

Step 6: Start Small with Prop Firms
Instead of risking personal capital, I’d begin with prop firm challenges. These firms offer traders access to substantial capital—up to $600,000—with profit splits of up to 90%. However, I’d start with smaller accounts, like $10,000, to build confidence and refine my skills.
The mistake many traders make is jumping into large accounts too quickly, leading to unnecessary losses. Starting small allows for steady growth without excessive risk.
Step 7: Establish a Trading Routine
Consistency is critical for success in day trading. I’d create a daily routine that includes:
- Pre-session preparation: This involves going to the gym, meditating, and conducting pre-market analysis.
- Post-session review: Journaling trades, reflecting on emotions, and identifying areas for improvement.
The goal is to constantly refine my approach, ensuring continuous growth as a trader.
Step 8: Focus on Trading Psychology
Our natural instincts don’t align with successful trading. To overcome this, I’d invest time into reprogramming my mindset. This includes:
- Reading books on trading psychology (four stars or higher with 500+ reviews).
- Developing discipline and emotional control to handle losses and profits effectively.
Trading psychology is often overlooked but plays a pivotal role in long-term success.
Step 9: Commit to the Process
Finally, I’d tell myself to avoid shortcuts. The trading journey takes time, but rushing through it only leads to setbacks. By committing to learning, testing, and refining, I’d lay a strong foundation for sustained success.
By following these steps—learning the basics, choosing a trading style, finding a mentor, and building a robust system—I believe anyone can fast-track their journey to becoming a profitable trader. The key is to stay consistent, prioritize knowledge over flash, and embrace the learning process.