Took out a loan to transition to full-time trading. Now 27 years old.

[0007]

Well. Lost it all. Curious the amount? Check my tracking sheet.
I said this was the last run for trading, but i just cannot quit. Will treat trading as second priority now, but will still trade time to time whenever.....idont know im so sad. Seriously thinking of joining the army this year as officer because finance was boring for me and i just cannot think of anything else i will be interested in doing for the rest of my life, except trading.

And trading isn't keeping me under a roof. My part-time jobs are

Sorry to hear that your trading has not been the success you hoped for.

Have you attempted analysis of your trading to find out what's been going wrong? Fundamentally – are you trading a system that is never going to make money or are you using a reasonable system or trading practice but in the wrong way? Or are you just thrashing about not really knowing what you are doing? I would suggest that until you can answer these questions (and lots of others) it's very difficult for you to decide whether or not you can make a success of trading.

If you wish to join the army to avoid a boring life – go ahead, I don't think you'll be disappointed: life in the military is quite often periods of relative boredom interspersed with extremely exciting patches. But you will need the qualities of self-assessment/criticism, an ability to analyse situations and take corrective action and the decisiveness to know whether to press on/change course/quit. Funnily enough, these are also qualities I would look for in a good trader.

So my suggestion (and it's only my suggestion – take it or leave it and don't be offended) would be to analyse where you've gone wrong so far. If you do more of the same, why should you expect the results to be any different?

Best of luck – let us know how you get on.

 

[NVP]

hey W ............go back to demo and review and upgrade your system and approach

ive rebuilt my own forex systems hundreds of times in last 20 years ....nothing stays fresh and profitable

make consistent money backtesting and forward testing on demos then go back into live market on low micro lots and increase as your performance improves .........

or just give up ?........95%+ of traders eventually go broke ......so be part of the 95% or keep striving to get into the elite
N

 

[wabu27]

1/22/2020
+277
commission: $33.18
Made another deposit of $600 to my IB account late Monday night and glad it didn't hit my account yesterday because I was pretty bullish on NG. LOL. Predictions today were oh so on point wish I had video of it. Played it safe which still netted me $277 for today. Barely alive. Still breathing. Why is trading so enjoyable...

 

[wabu27]

1/23 +$40
1/24 -$9

Ive been just waiting for NG to be bullish again to make back my losses, waiting for any signs for a strong trend. It's just been very indecisive this week, but keeping its bottom, giving potential to start of a bull movement for NG?

 

[wabu27]

R.I.P. Kobe Bryant. Growing up as a Lakers fan, the only time I ever followed NBA was during the Kobe era. A piece of childhood is now forever in memory.

1/27: +$150
Could have possibly doubled my profits had I been more careful in my entries. Tried to get some extra ticks in before getting a clear signal on my yahoo finance charts. Impatience and emotional trading resulted in red moments earlier in the day, but was able to make it back and some more by following NG down because it didn't have enough strength to "pop" today. NG may be getting to do some serious bull movements now.

 

[wabu27]

1/28: -$9
Slow day for NG today. Satisfied with my trading today, able to follow yahoo charts well and not exiting because I got scared. NG lowered its margin requirement! Now i'm only a small amount away from being able to trade 2 contracts. I think I can pretty confidently get 10 ticks a day. My goal for February is to get 10 ticks a day. With 2 contracts, thats $200!!!!!!!! LOL hahahahahaha so much easier saying than doing.

 

[wabu27]

1/29: +$116
Easy Peezy Lemon Squeezy. Tried 2 contracts today. Oh my the thrill!! hahahaha. It was a really undecisive day for NG, trying to decide whether it should fall more or start the rise. Tomorrow's report will be a reason to start making a move. Fun Fun Fun. 2 Contracts. Back to 2. 2. 2... if I can get 10 ticks a day.. that's $4000 a month. My goal for February. I'm excited and scared at the same time. Very worried. Approaching my 10 year anniversary of trading stocks. If I can't do this simple thing of averaging 10 ticks a day, I really shouldn't depend on daytrading for my income. I put the spotlight on myself. No excuses.



...and watch... I lose big tomorrow and I'm back to 1 contract. LOLOLOL. fml. every time.

 

[wabu27]

1/30: +$67

NG report today. I was picture 2 scenarios; 1. NG goes straight up following the report. 2. NG drops first to get rid of some people, than bounces back up gradually and will finish the day positive (massive gain!). It looked like scenario 2 was happening so I was super excited, maybe get a hude profit today using 2 positions. Note to self: forgot how hard it was to get "simply" 10 ticks a day.

 

[wabu27]

1/31: +$65

IS whoever controlling NG following my post? It's like whenever I say NG is about to go up, the rising momentum gets cut and it trickles back down. That was the case of NG today. Trying to make some movements to go up, which I followed very closely, but failed to. Barely went in and out today. Watched the charts all day and probably spent maybe a minute or two actually in a position.

This week I made $389. Four of five days were positive.

I've traded 43 days so far. 23 of those days were positive. Overall, I'm negative $3,919.

February goal: average 10 ticks a day. Doesn't matter whether it's 1 or 2 positions. Just get 10 ticks.

 

[fibo_trader]

Hmmm, so you made it work for a few years, then you start reposting here and you blow the account? I hope you were able to pay back the loans.

Peter


Edited: happy birthday and I hope you also had a great Thanksgiving!

Pete, you're not doing what you and the core 30 always do. Why is that?

What do you'll do? When an American is down, injured and hurting, you go in and finish the job.

The American named wabu escaped this time but with 30 so-called teammates waiting to stab him in the back, he don't got a chance.

What's more, the cops will not interrupt a gangbang of an American.

Proven already.


For wabu

 

[Bubba27]

Hello wabu27. I am a newbie following some of your journal entries.

I wondered, is there a specific reason why you chose to trade primarily Natural Gas? How did you land on NG for conducting the bulk of your trades?

Do you have a mentor for trading or a family member that introduced you to the ropes? What are you feeling when your account drops down into the negatives?

How do you like the Interactive Brokers exchange? Have you tried other exchange platforms before and then for some reason or another you prefer IB over the rest?

 

[wabu27]

Hello wabu27. I am a newbie following some of your journal entries.
Thanks, appreciate the attention yet a little worrisome. Hope you're not following to get some trading-related knowledge. My posts are not very organized and it's more for reading an interesting trade-life story.

I wondered, is there a specific reason why you chose to trade primarily Natural Gas? How did you land on NG for conducting the bulk of your trades?
IB requires $2000 minimum to use your account. NG's minimum to trade 1 contract right now is $1700ish. I like Crude Oil as well but it's minimum is like $4500ish right now, the money which I don't have.
How I landed on oil or NG is a different story - got into markets via stocks. Daytraded ugaz,dgaz,uwti,dwti using momentum only back in 2010 and got 1st place in my econ class. Years later, found out these ETF's follow NG and Crude Oil. Just decided to trade the product instead of the etf. ALSO futures has more leverage than stocks.

Do you have a mentor for trading or a family member that introduced you to the ropes? What are you feeling when your account drops down into the negatives? Personal opinion: you need a trading plan that's right for YOU. Mentor may help with the losses in the early stages, but mentor may also make you bias via mentor's own trading style and it may take you down the wrong road. My Dad does invest in the markets but he does it the traditional, "right" way like Warren Buffett. He does not approve my lifestyle or my love of trading.
My feelings when my account drops down into the negatives? Well, depends on the timing, how much, etc. Generally, if I followed my trading plan, even if I am overall red for the day, I'm feeling good and proud. I only have the nasty feeling of "why am i still trading, wtf am i doing with my life, do i suck at trading, what went wrong, why am i like this again, etc." only when I am put in a position and have the option to follow my trading plan, yet didn't because I got scared or uneasy. This is my general cycle:
1. Start fresh/determined. Make money 5 days straight because I follow my plan. Up $700.
2. I get cocky really easily. REALLY easily. REALLY REALLY REALLY easily. Yes, that easily. almost 10 years of losing years yet I still think I have skills. So I don't follow my plan anymore. Why should I? I made $700 with $2000 in 1 week. I now have $2700. $700 more and I can start trading 2 NG contracts! OMG! Now instead of $700, just following my trading plan will get me $1400! and It was so easy! 1400 a week...equals... 5600 a month! Big by my current life standards, but just chump change really. <--------- this is what goes on inside my head after a multiple-day winning streak. And in the following 2 trading days, I lose the $700 and some more because in my mind I'm already rich and even if I go a little red, instead of being extra careful and try to go back up, I get the mindset of "I'll just make it back. -$100? Easy. -$200? Hm, little big but will make it back by end of day. I'M THAT GOOD. and the same day, I'm down $1000.
3. Why. Did. I. Make. The. Same. Mistake. Supposedly now I have $2200. I used to have $2700. It's only $500 - average it $100/day and making it back in 5 days is really doable. Yet because I turned into the gamblers mindset, fck it I'm going to make $500 back today and starting tomorrow I will follow my trading plan again, and make small profits consistently.
4. Write a post "my account got blown today and I will not be able to trade starting tomorrow so no more posts for now..." and go back to the server job.


How do you like the Interactive Brokers exchange? Have you tried other exchange platforms before and then for some reason or another you prefer IB over the rest? I started with optionshouse because commission to buy/sell stocks, no matter the quantity, was $3.95. I was a newbie so I had a lot of questions I came across - adult stuff that I don't have exposure to in high school. Customer service reflected the cheap commissions and I found Scottrade. Even though commission is now $7 per trade, they have their own checking account you can use to conveniently move money in and out between checking and trading account. During college days, this was super convenient. Found IB once I realized ETF's I trade actually follow a product I can trade via future markets. IB was the most popular and well-reviewed so I got into IB. I like convenience and if something works for me, I like to stick with it. I may be looking for a new broker once (if) my account goes over $25000 because I want to daytrade stocks. Stock trading is my specialty, not futures.

 

[wabu27]

@fibo_trader
One thing I got out of my last online posts 3.5 years ago was the online people do not care about you. Everyone's an expert when you're losing and when you're making money, I wonder if there are even any followers. A supposed supporter will root for me, criticize me and curse me day or two later because I made the same mistake I said I will not make. This particular experience was nothing traumatic, but it did turn the introvert me even more private.

Just wanted to let you know I don't know why you're bashing at my haters. Don't know why you're acting the way you are acting. But today it made me smile. I thought about your actions multiple times throughout the day today, and just had to write this post. Thank you and I appreciate you.

 

[fibo_trader]

@fibo_trader
One thing I got out of my last online posts 3.5 years ago was the online people do not care about you. Everyone's an expert when you're losing and when you're making money, I wonder if there are even any followers. A supposed supporter will root for me, criticize me and curse me day or two later because I made the same mistake I said I will not make. This particular experience was nothing traumatic, but it did turn the introvert me even more private.

Just wanted to let you know I don't know why you're bashing at my haters. Don't know why you're acting the way you are acting. But today it made me smile. I thought about your actions multiple times throughout the day today, and just had to write this post. Thank you and I appreciate you.

You're welcome.

Keep trading, all else is unimportant.

 

[wabu27]

2/3: +$182
NG was dropping pretty steeply from the open and to me, it looked like this was the start of the bull. Monday morning - lose all the wussies - long ride up for months for 2020 results.
Liked what I was seeing in both Investing and Yahoo finance charts. It looked like it had a small room to go down before going up, but I thought this was the fake so I got a position in even though it felt a little early. I didn't want to miss the long ride up today. NG did go a little lower, and I played my positions alright. Mid-day I was losing focus and played some cellphone games while watching the chart...and missed safe chances to exit and could have got back in later. Overall, today was good. Was safe. Didn't try to make too much money which makes me overtrade. Today was a fairly easy day to predict and play off of. And I managed to get close to my daily goal of $200 but it's more difficult than I thought.

 

[wabu27]

2/4: +$252

Oh how much I wanted to keep a position in yesterday because a double bottom support formed and an extreme downward movement on a Tuesday when NG itself is already so low? not likely...which is all the more reason it may happen so trying not to become a gambler I am, I just watched. From the open, today's movement was basically what I pictured to happen yesterday... little room on downside but because NG will start popping up, who wants to provide a safe entry to all the losers? downside room will not fill, it will build strength, than start going up. Uncomfortable looking chart so just had to watch it go up. Got like 6 ticks out of the big 50 tick ride. LOL. I wasn't sure how much it would go up today, but watched couple possibilities and entered 2 positions to short near the top. 4 ticks away from the very top, 2 positions entered in short, and that's when I made most of my gains today. 2nd half of day, NG being undecisive so I did go in and out for 3-4 ticks, but had to cut short as no clear signs of direction.

Very thankful. 2 out of 2 days of success. However, yesterday and today were modestly fair easy days. When oil report comes out tomorrow and NG's report comes out on Thursday, I either win small or lose big. hahaha...nope,,, actually not funny... ... LOL

 

[wabu27]

2/5: +$216

Today's post may deter many people from thinking I'm legit but im going to say it anyway because its all true. Last night around midnight, saw the chart going lower which left a good room to run for the bulls today during market hours. I predicted it will go even lower, open the market a little above the very lows of Jan 30 and Feb 3 (support) and start rising up, fueled by oil report, and go close to yesterday's close level. It will set-up like this to get ready for tomorrows NG report - make chart look indecisive so it's not obvious it will continue up or go back down to test low levels again.
I got the market open level right. Yet didn't enter because I overslept...because i like to let the chart form a trend before i enter so i try not to trade form the very open... but seeing the chart I think I would've entered as it seemed pretty obvious. 1st mistake.
Noticed NG was going up way faster than I predicted, to high of 1.870. Thought this was a fake, will go down fast, do some fake moves during mid market, and by EOD it will go back to today's high of 1.870 or maybe more up until UGAZ turns green. My plan in mind, shorted at 62, 63 which made most of my gains today. Went in and out couple more times for couple ticks during midday. Everything going good - solid trading in my opinion. A real let-down happened towards the end of the market. Approaching 11am PST new hour, new 15min, new 5min, new trend. This is a bull chart. Called the bottom to enter again at 1.846 - if i had a lot of money would've done 2 contracts but because I'm poor, had a open buy for 1. Chart touches 1.847 and goes up to the top. I thought it would go up higher but the chart didn't give me a good window to enter. I missed my chance and it just keeps on going up little by little. And right now its at 1.868, 20 mins until stock market closes.
Call me crazy.. call me a liar... but i predicted today's chart like a boss.
omg... could feel getting cocky once again... come on it's been only 3 days... please..

TOMORROW'S NG REPORT !!! BULL!!! WHEN WILL I BE ABLE TO TAKE A BIG RIDE UP!!! I have so many 100+tick losing days under my belt not not a single 100+tick winning day... but i'm focusing on 10ticks. right? 10 ticks? yes. 10 ticks. okay. 10. $200. $200/day for 20 days straight. I can do this!!!!! thanks for reading today's super long rant

 

[Bubba27]

What cell phone game distracted you?

How is your trading desk organized?

You posted your goal is $200 per day but what does the rest of your trading plan look like?

Do you stick to any trading rules?

About being overly confident: about what? Traders that consistently profit $20K per day, or $50K per day, have to worry about that but traders who profit enough to buy themselves a cheeseburger at the end of the trading day, not so much.

 

[wabu27]

2/6: +163

NG report day. Had no idea what NG was trying to do so just watched patiently and patiently and patiently... and it keeps going up like it's defying law of physics. So I get a new plan and i call the top just below 1.890. Got a short in at 1.888. NG ended up going higher, touching 1.906, than coming back down. My bad mistake omg was i got another short in at 1.892 minutes after my first short because i thought this is going down for sure. Had an early feel to it but didn't want to miss the ride down as the chart went up too much in too short of time. Well, almost got to -$300 for the first time in 2 weeks and got that feeling again that I didn't feel for a while of losing money and shaking up my head and emotions. Act calm son - the universe is watching over you. Stuck with it and went down. Tried 3 contracts today as i noticed minimum margin requirement for NG decreased yayayyayayayya. So my plan was short the top and let it fall. Thought it may fall close to yesterday's close level and it ended up falling faster. I exited for a safe profit of overall +$260 even though i saw more downside. I exited because while it was going down, i saw a possibility of a bounce, not filling the bottom space, and coming back up. So I exit all 3 positions and 4 minutes later, falls another 10+ points for an easy profit. I couldn't capitalize on it but oh well. Safe is better. Thought it would drop down to, at most, 1.688ish and go back up, so i got a 1 position in at 1.672. Was really considering 2 positions, but because I always end up losing all of my gains at the end of day, decided not to. Chart looked like it was bouncing and I was up 2-3 ticks when it fell hard again and decided to just stay there. Lost $100 at the end - overtrading alert.

Today was whatever. Bad trading. Really going for that money. Back to my old self. So I asked myself why. I think it's because even though I was focused on 10 ticks a day, I was able to get $200ish profit for the past 3 days. I think I got fixed on that $200 number and when I'm really concentrating during market hours, I forget that it's not the amount I'm going for, but the ticks. Yes, 2 contracts with 10 points is $200, but this is exactly how I lost all of my money back in 2016. Those days when making $1000/day was childplay. Thought I would never work a day in my life ever again and would be trading from my giant room with a killer desktop setup. And getting fixated on the dollar amount made me forget my trading strategy. This resulted in overtrading and not being able to cut my losses.
I'm really happy I can already trade 3 contracts for NG. I think literally like 3 weeks ago I thought I couldn't trade anymore. Using 3 contracts was very scary today. Will use 2, and if I get a good profit in during the day, may try using 3.
I say it like this but watch, come tomorrow, one or two trade I may use 1 or 2 contracts, and I will jump on that 3rd one right away when I see the opportunity. LOL. I really hope I don't...

 

[wabu27]

This week I traded 5 days and made money all 5 days.
Made $820 this week.
So far, made money 28 out of 48 days traded (58.33%), for a total of -$3,099.

2/7: +$7
NOOOOOOOOOOOOOOOOOOOOOOOGomoamweogmaopjg;mvwoirgvan;egr gah894tualkwerg aliehgj4.va pu5lhn g.,smgjbulg3 he
Closed positions and +$181. Done for the day. Oh my I made $994 this week. What a boss. I'm the sh.t. Turn on my pubg mobile and play some rounds with my clan members. This graph looks like it'll drop! For some reason it'll drop til 1.862 and go up again! bounce because it's start of bull! bull f'n sh't i hate ugaz and natural gas can go down for all I care. AHHHHHHh...............im so sad because i didn't follow my trading rule. quick on trigger. emotions. overconfidence. overtrading. trying to get those +4-5ticks at the end. How did I lose all $181? Added 2 more positions to a losing trade and lost all.
1st feeling: "you serious? Do I really need to keep my sh't intact every single moment I'm trading?" a moment of leisure after hours of mad concentrating and I lose everything I earned today. Can I really keep this up forever?
2nd feeling: pissed. saw this shape multiple times. oh the memories. just forgot about them until i ran across one again. f 3 positions. im an idiot. omg. back to my old self? you idiot.
3rd feeling: blank. nothing. than suddenly analyzing. what happened? why did I make this trade? what was the probability it'll work? and after finding the answers to my questions, i really couldn't hate myself. how can i hate an idiot for being an idiot? at least he's consistent year after year.
conclusion: i hope it's monday morning right now. i have to test myself again. market hours are too short. i will not let myself accept that I cannot control my trading emotions. With practice I will master it, and with my boss skill of reading the charts, I will become a true daytrader!!!!!!!!!!!!!!
ROAR!!!!!!!!!!!!!!!!


Direct message me your performance history if you want to me to care about your comments about my trading hahaha you so called experts. As far as I know, all of you are below me.........at least this week hahahahaha