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

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NVP

Legendary member
36,431 1,816
I was up more than $300 in beginning. Trading okay. Than lost all of it. Failed to see loss of strength. Stubborn. LOL. 1 day of live trading and I'm done already because the minimum needed to trade 1 crude oil futures increased from $2900 to $3280 and I ended up at like $3180. GG. Will be back in february.

Hey Wabu

this thread hopefully demonstates the folly of many young and inexperienced traders looking for the fast bucks ........

trading is hard and requires a lot of experience and practice .........a lot of the more seasoned traders here are profitable because they have spent years perfecting systems , processes and also their mindsets

theres no short cut ..............if you dont start realising this and applying yourself you will lose even more money next time you return ...........like groundhog day

Sorry
N
 
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Kaeso

Established member
836 91
I was up more than $300 in beginning. Trading okay. Than lost all of it. Failed to see loss of strength. Stubborn. LOL. 1 day of live trading and I'm done already because the minimum needed to trade 1 crude oil futures increased from $2900 to $3280 and I ended up at like $3180. GG. Will be back in february.
You could trade the US Oil ETF instead (symbol USO)
 

wabu27

Active member
111 17
I was able to save enough money to trade again last week. It made my capital just over the minimum requirement so I didnt stream (because it might end in a day again) but did record for personal review. Thankfully, things have been going good so far.
1/24 +216
1/25 +190
1/28 +292

Thinking of not doing live streaming and just uploaded the recorded videos afterwards. Live streaming makes my computer slow.
 

wabu27

Active member
111 17
Update:
1/29: +101
1/30: -110
1/31: +157
2/1: +401
2/4: +382

Been trying to really limit my losses. Because I've been having trouble cutting bad positions, in order to fix this, I've been trying to be extra careful entering a position and exiting quickly (sometimes too quickly..) whenever I think it may turn into an "iffy" position.
Scraping little profits at a time and not being able to earn a big gain in a single position.
I'm more of you have to earn those big profits from time to time to really grow your capital, yet because I really need to save up capital, I'm thinking of just scraping around until I earn couple thousand more and than I will go for those big gains with just 1 contract size.
 

wabu27

Active member
111 17
2/5: (607)
2/6: (316)
2/7: (126)
2/8: 427

Oh man. Almost lost all of my gains this week. Tuesday's loss and Wed's loss was just horrible trading without a careful thought-out plan/exit plan as I was once again, getting overconfident. Entered recklessly and exited without much of a plan except feeling, which quickly led to big losses. Thursday, I think, was just unfortunate event. My fault for not cutting my losses quickly, but I think I traded okay on Thursday... nevermind. On second thought, I panicked when it started going against my again due to my previous 2 day losses.
Today, I traded on a lighter mind - not trying to make a lot of money; just seeing the chart and trying to play off of it. Luck was on my side and i got a good return today. Overall, down ($240) this week.
I haven't doing live streaming as it was making my computer lag, which affected my emotions and my trading. I recorded yesterdays but havent recorded other days (getting lazy) as recording makes my computer (little) slow as well. Can't wait till next week!
 

NVP

Legendary member
36,431 1,816
jees this guy is everywhere .....1 thread only dude ...we get it ...honestly we do ...N
 

postman

Legendary member
20,908 2,244
@wabu27 your 24 years old FFS grow some balls, if it all goes tits up you've got 40 more years to plan for retirement. I made £100, 000 profit in 3 years in my sleep as the value of my house went up. You'll make much bigger mistakes than this in your life and much bigger profits, AND you'll learn a valuable lesson early on. You don't want to be doing this kind of stuff later in life, "batsonar" will tell you that.
 
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