JA_Trades : I have been locking in on the market these past few weeks, refining my few strategies and looking to take bigger size. As of about a month and a half from when I started on Profit.ly and verified my trades I am up about $1,300. Now, obviously that is not a crazy sum but it is green. My winning % is right where I think it should be in the 70-75% and as I continue to grow my day trading account I will be able to take bigger size and with that % will come room for larger potential profits.
I just wanted to write this quick blog post as the market comes to a close today because although I have been on Profit.ly for about 6 weeks, I have been studying and practicing and refining my strategies for about 9 months now nonstop. Every second I have I look to challenge myself as it pertains to the stock market. These past 6 weeks though, I have been seriously day trading, not taking crazy size but actually putting what I have learned over the last 9 months. Those first 9 months though of minimal trading was hard. I was losing just about everything I traded, and once I worked up a couple green days, I would take that one or two bad trades and would erase what I made the previous few days. It is an extreme uphill battle and there is no way around it. I have read 7 books all with different ideologies on the stock market (my favorite - Market Wizards) in order to try and build my knowledge bank on this subject. I have just recently been putting out recap videos on the mornings in which I trade on my youtube channel, check my twitter bio for the link if you want to watch.
The main thing I want to try and get at here is that these past 6 weeks, although as I said minimal gains from what I intend on making in the near future is the culmination of 9 months of hard preparation and losing. I have watched 100s of Tim's Videos and others across youtube, and still no where near satisfied. When I first started I did what I think most people do, they watch the couple videos go trade lose, watch another video or read an article trade and lose, and maybe grab a win in there but continue this cycle and it always ends with losing. I was there, it really takes an insane amount of studying and an insane amount of concentration in order to even turn a consistent profit.
I read people comments on videos and twitter saying things like, I wish I started out with that much money, or It must be easy to have that much money to play with. Yes, I felt the same way but until you realize what you yourself have and what you have to work with and take that and turn it into the most you possibly can then you are going to struggle.
One of the hardest things personally I had to deal with was seeing all of these tweets and videos of kids about my age making all this money in the market and trying to compete, and compare my self. Once I took that noise out, and focused on my own education and my own learning curve i started to feel better and saw some success.
Big thing I am getting at is although my average gain is just over $60 and I have mad roughy $1300 in 6 weeks, the last 9 months of studying and preparation is nowhere near enough to have continued success in the market. Once you can understand how long it is truly going to take to become successful in an environment like the stock market, that is when I believe you will start to progress. Seeing videos that say this person took this much and turned it into this much in such a short amount of time is inspiring, but not realistic for a lot of people. There is always years and years of hard work before any individual who is extremely successful has that success.
Im understanding fully what your feeling felt the same way when I started. It will only be destructive to yourself by comparing your earnings to other advanced, vet, and expert traders. Being a devoted trader takes years some can do it in less time, most of us have had issues along the way.
This is a marathon - not a sprint- Keep up the good work and im sure you will stay profitable =)
yup
Great post and great progress. I will be checking out your twitter later today!
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