Took out a loan to transition to full-time trading. 24 years old.

[wabu27]

Day 23
+5.48%
Decent trading throughout the day. Stayed out before release of the oil report. Played a little after the report. Went in for a nice drop but stopped out short just in case... oil goes up because the graph looked a little weird. Dropping some more right now and feeling uneasy because I was too scared to go in for the ride.. and i'm missing out.. so I'm done for the day.

 

[wabu27]

Day 24
-14.0%
Hm… where to begin. Started the day off great, calling accurate reversals and making easy 6% profit. There was a surprise jump that caught me off guard, and while I thought it would be a complete down day today, oil refused to go down. Kept my positions open and went to work, periodically checking the charts. Was down probably around -15% but managed to get it to around -5%. I saw the chart and still thought it would go down, so I re-entered. Oil just would not go down and budged its way up, leading me to finally give up and exit. I think today was a good example of following “it’s okay to be wrong” and “cutting losses short when wrong”, which were two things I refused to do. Still think it’s a reversal to downplay… man I’m so disappointed. Shoulda called it quits when I exited with -5%.

 

[Pat494]

Just as they said to Caesar beware the Ides, so with traders beware the euphoria of successful days, Common sense and caution can be forgotten in the rush.

 

[mpups]

Day 24
-14.0%
Hm… where to begin. Started the day off great, calling accurate reversals and making easy 6% profit. There was a surprise jump that caught me off guard, and while I thought it would be a complete down day today, oil refused to go down. Kept my positions open and went to work, periodically checking the charts. Was down probably around -15% but managed to get it to around -5%. I saw the chart and still thought it would go down, so I re-entered. Oil just would not go down and budged its way up, leading me to finally give up and exit. I think today was a good example of following “it’s okay to be wrong” and “cutting losses short when wrong”, which were two things I refused to do. Still think it’s a reversal to downplay… man I’m so disappointed. Shoulda called it quits when I exited with -5%.

hey, on a positive note, and forgetting risk for a minute, i see you did actually double your 3.2k account before this loss.. awesome! i skipped through the vid to get an idea of what happened.

 

[wabu27]

Day 25
+17.43%
Woke up around 2:30am and started trading. I think I did a good job reading the direction of the chart, not exiting when fake outbreaks occurred. Oil just would not drop as I had expected, so exited while I was ahead instead of giving back profits. Lucky to have made good moves today. Made back all the loss from yesterday and about $60 more. Today was the first time I hit a 4 digit profit.

 

[NVP]

these seem to be very large % swings in your capital ?

how much per trade are you using ?

N

 

[wabu27]

@NVP
yes, its huge swings. I don't think in terms of how much per trade, or how much of my portfolio. I think in terms of how many contracts can i trade right now. Since I can currently trade 4 contracts, i dip into positions using 1, increase to 2 for most movements if I am pretty confident, and do 3 if im really confident. I just got to using 4 contracts so im a little scared seeing +/- $40 movements per tick.

 

[wabu27]

Day 26
-40.7%
Outplayed, outmatched, outclassed... all the wrong things ive been doing wrong finally coming to bite me. Played the day really fighting and ending flat. Before leaving for work, put on 2 positions, thinking ill either make $150 or lose $150. Well the spike made me -$400 and out of impulse added in 2 more positions. Had to go to work. At work, busy as hell and literally had no time to look at chart... really didnt think it would be this bad. Lost 2.7K in one day. Man.. going to take 2-3weeks to make this loss back... if i follow my rules that is.
I dont know whats worse. The huge loss or me going "eh, **** here we go again" after history of blowing up accounts...

 

[dvdadie]

Good luck. Study hard.

 

[Hoggums]

After a 40% drop you need a 66% profit just to get back where you were....

 

[EnlightenedJoe]

Nothing a bit of capital injection won't fix. If you borrow 2x account balance and go all in, you will only need to make 20% (just a random guess) to get back to where you were. Can be done in a day.

 

[wisefoolx]

Nothing a bit of capital injection won't fix. If you borrow 2x account balance and go all in, you will only need to make 20% (just a random guess) to get back to where you were. Can be done in a day.

Yeah right, listen to this guy and you'll be bankrupt within a couple of weeks, have you seen his so called trading record ? More red than a red carpet.

HAHAHA !

 

[itspossible]

Nothing a bit of capital injection won't fix. If you borrow 2x account balance and go all in, you will only need to make 20% (just a random guess) to get back to where you were. Can be done in a day.

excellent trolling sir:clap:

 

[wabu27]

Day 27
+19.39%
Traded. Traded. and traded. missed a really good profit run but overall result is still good. Traded hastily again (haha...) once i was able to use 3 positions. I worked all day yesterday but tonight i have the night off so i'm going to meditate and think deeply about trading size and risk/reward.

 

[Fill_Or_Kill]

Stop this. It won't work and you know it. Trade much smaller and wiser and build a record. Suffer some awful job for a year. A record is still worth a lot.

 

[wabu27]

Day 28
+18.8%
Started the day off terribly, making simple mistakes and impulse trading. Didnt analyze chart close enough to catch the ceiling line...
Thought i was doomed after doing some trading subsequent to the oil news. Luckily my analyses was correct and was able to pull off a big win.

 

[Nowler]

Day 28
+18.8%
Started the day off terribly, making simple mistakes and impulse trading. Didnt analyze chart close enough to catch the ceiling line...
Thought i was doomed after doing some trading subsequent to the oil news. Luckily my analyses was correct and was able to pull off a big win.

That's great that you made 18+% today mate.
I do hope you see through what happened today though.

Don't let that 1 big win blind you from the truth about your day of trading...you were wrong more than you were right. Tighten up and focus on increasing your win/loss rate a bit. Doing that will get you through all those days where you dont have a big winning trade

In summary:
- Well done on the 18% but don't let it blind you
- Tighten up on your analysis and execution

You should always be your own biggest critic

 

[wabu27]

Youre absolutely right. I thought I knew all of what you said yet hearing from you again, a third person, i guess i was only thinking it and now really taking it in seriously.
Today was a lucky day that happened to pair up with a big move.
Thanks for your solid advice

 

[wabu27]

Day 29
+25.3%
Due to technical difficulties (poor wifi), i couldn't stream all of today's trades and only have the beginning portion. However, today's trading went really well as I entered shorts near the top of the huge downfall today. Made all my 40% loss back from Monday and broke the $7000 line!!! YESSSSSSSSSSSSSS
Going to work early today because I'M SO HAPPYYYYYYYY

 

[Nowler]

Day 29
+25.3%
Due to technical difficulties (poor wifi), i couldn't stream all of today's trades and only have the beginning portion. However, today's trading went really well as I entered shorts near the top of the huge downfall today. Made all my 40% loss back from Monday and broke the $7000 line!!! YESSSSSSSSSSSSSS
Going to work early today because I'M SO HAPPYYYYYYYY

Well done mate!
I'm delighted that you now have a pep in your step

Fantastic growth on capital today!

Keep your head down and keep tightening up your analysis and execution