Took out a loan to transition to full-time trading. 24 years old.
Welcome back mate, long time no see. I dont see any problem linking youtube providing your not vendoring or soliciting money in any way.
So whats the current state of play? Trading smaller I hope
Thanks darktone. I don't even have much capital to trade with even if I wanted to trade big haha. I saved up couple thousand and am trading with those.
Youtube stockfather and you can see me trade. I gotta say it's boring to watch other trade but for you to be in the trade during market hours... the fun never stops.
I did have a rule when i traded stocks but since i now have less than $25,000 and i only do daytrading, i switched over to trading futures. Couple ticks equals couple percent of my capital so i guess i dont have a solid loss rule. I try to lose $100/day at most but that's hard to keep...
For example today, i went down i think almost 20% at one point. I know I'm going to blow up within a week if i keep trading like this. I'm going to really try to trade defensively even if i can't make good returns. as long as it's not negative, you won't go broke, right?
Quantt
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Frankly if I am in your place, I would stop trading real money and focus on finding my edge...
mpups
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maybe you need to think about the difference between, say, playing roulette and trading
btw i hope the loan repayments are not causing you big issues
neil
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Seriously
Get a job -save a portion of earnings for trading - Demo until successful - then trade that portion. But something tells me you are too dumb to do so or (hopefully) this whole thread is a "wind up."
But you could get a job :
Get a job -save a portion of earnings for trading - Demo until successful - then trade that portion. But something tells me you are too dumb to do so or (hopefully) this whole thread is a "wind up."
But you could get a job :
Day 4
+1.61%
Charts weren't pretty today and I barely traded. That and also my internet was being uncooperative and I disconnected twice. I tried to add commentary but noticed after the first internet disruption, volume wasn't going in. After restarting my computer to fix it, from some point it wasn't streaming. A lot of technical mess going on today. Just glad I finished in the green and not the red.
+1.61%
Charts weren't pretty today and I barely traded. That and also my internet was being uncooperative and I disconnected twice. I tried to add commentary but noticed after the first internet disruption, volume wasn't going in. After restarting my computer to fix it, from some point it wasn't streaming. A lot of technical mess going on today. Just glad I finished in the green and not the red.
mpups
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you had an up-day which is always good!
the daily up/down percentage is not very meaningful to anyone else i dont think, its good to monitor for yourself of course.
What is meaningful to others is your return and consistency so a longer term growth figure such as a month is better.
or if you want to give daily details maybe a chart showing a trade or two would be good.
i have not done that myself yet i havent felt inclined, maybe one day if feel like it
just some feedback im not complaining or asking for anything. its up to you.
Day 5
-20.1%
Week 1
+3.9%
Where to begin...
I was having internet problems again in the morning. My house has the cheapest internet and I guess it can't handle online streaming, charts, and trading at the same time. After a short time, I discontinued live streaming so I could trade. It was lagging a little and my chart... before I realized... wasn't updating in real time. It was lagging. What a nightmare it was this morning. I basically had IB open on my laptop and was looking at the charts via my phone using data.
If I played it safe and defensively, I wouldn't had the results I had now but being me, I didn't play it safe. I kept my short position open during work as well when I'm supposed to trade only in the morning time. Thanks to my stupidity, I lost everything I earned this week. I'm up $126(?) for the week.
Oh man oh man... before today I was up 30% this week. I gambled today and I lost. I knew I was gambling too...
Why does this feel like de ja vu. Can't wait till next week.
-20.1%
Week 1
+3.9%
Where to begin...
I was having internet problems again in the morning. My house has the cheapest internet and I guess it can't handle online streaming, charts, and trading at the same time. After a short time, I discontinued live streaming so I could trade. It was lagging a little and my chart... before I realized... wasn't updating in real time. It was lagging. What a nightmare it was this morning. I basically had IB open on my laptop and was looking at the charts via my phone using data.
If I played it safe and defensively, I wouldn't had the results I had now but being me, I didn't play it safe. I kept my short position open during work as well when I'm supposed to trade only in the morning time. Thanks to my stupidity, I lost everything I earned this week. I'm up $126(?) for the week.
Oh man oh man... before today I was up 30% this week. I gambled today and I lost. I knew I was gambling too...
Why does this feel like de ja vu. Can't wait till next week.
NVP
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You dropped 20%'in one day ?......dude ......that's not good ......losses are expected in trading and maybe 3 or 4 in a row should mean stop trading that day......should keep you under 10% in a day re losses.....and naturally reduce your stakes next day to reflect the % reduction in your capital....
mpups
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this is trading mate..
a 20% loss in a day is gambling..
its great you are honest and sharing your experience with us, if you blow out you wont be able to do that
reduce that position size
EnlightenedJoe
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Need to go all in or his previous loan will never be repaid. Then the bank will be riding on his back for life and fux0r him up.
foroom lluzers
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Get a job -save a portion of earnings for trading - Demo until successful - then trade that portion. But something tells me you are too dumb to do so or (hopefully) this whole thread is a "wind up."
But you could get a job :
He should buy a James 16 subscription for keeping pals happy ,there he can learn to recoup losses.
Day 6
+7.44%
excellent example today on how not to trade. pure excellent video, with commentary, on how not to trade. Made money on a lucky breakout but today, trading was horrible. Oh man, if I don't really stop gambling, I'm going to lose all of my money this week.
+7.44%
excellent example today on how not to trade. pure excellent video, with commentary, on how not to trade. Made money on a lucky breakout but today, trading was horrible. Oh man, if I don't really stop gambling, I'm going to lose all of my money this week.
mpups
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I didn't see anything particularly bad but you do seem to screen-watch-trade-by-the-seat-of-your-pants, going long, then short, then long.. its a risky thing to do in a short space of time. I've been there & done that..
And even 1 oil contract I consider too big for your account, but you are using 2
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