I recently started trading full time for five months ago after basically a job loss. I was at the time making more money trading than my full time job, so the job loss wasn't a big hit. That being said since August I have been on a trading slump. Since my trading is my only source of income it's tough to survive the rough periods.
I'm looking for at least a part time job to make ends meet. I really do not want to go back to cubic life. I have been trading with less size and mostly scalping but scalping doesn't pay the bills. One flaw I have now is since moving my account to Interactive Brokers i'm back to 2-1 leverage. If I trade more I'll be back at 4-1 which should help. Yet leverage or your broker doesn't make you a better trader. An additional flaw I have is twice I have built accounts up to five+ figures only to be cut in half by a mistake. So I am thinking of trading with smaller accounts and if they get big move money out and start again.
I had this goal of hitting 100k and that would lead me on the path to millionaire status.
Any thoughts on how to get through trading droughts or slumps?
Thanks Guys! Gonna do all of the above.
Be disciplined and cut your losses! CLQ CLQ CLQ! (cut losses quickly)!
Hey man. you have a better win % than me... But ye. Watch this video I just put up about my story. Hopefully it can inspire you. :-)
Thanks @nelsdawgy I made a good amount in August. I'll back fill my trades soon. Bummed I almost broke 100k but twice big account Ego got to me. Next time I'm going smaller.
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