My Relationship With Trading
I have been trading all semester and while it is helping me to buy groceries and pay my rent. I still have a love hate relationship with it. The reason why is because trading is something where you have to continuously be disciplined and on top of your game. Last week I will admit that I got greedy. I wanted to go for all my all time best profit in a day which would have been around $1,000 profit. Instead, however, I ended up with far worse results. Before we get into this though, I would like to welcome the new viewers.
Welcome All New Viewers
Welcome to my blog. If you are new to the blog, my name is Trav and I invest in stocks, gold, and cryptocurrency. I started this blog because I have been able to make anywhere from 5%-40% a day in profit. To put this in lame terms, I am making what the professionals make a year, every single week. I love helping people so I figured creating a financial blog and YouTube channel would help me to spread my knowledge to others in a super simple way. Sidenote: I write how I talk rather than writing grammatically correct in every instance so I can add more character to my posts and because writing and english are by far my weakest subjects…
Why I Think My Luck Ran Out
Now lets hop back into my story about last week’s trading. I have been doing pretty well with trading but I have still been taking my losses along the journey. The reason why is because I know how to trade but there are so many ways to trade that I always want to try out new ways to see if they work better than my current ways. Sometimes I strike gold, and sometimes I strike coal. Last week I struck coal. I ended up losing a little over $1,000 last week which really sucked. I had losing day after losing day. Times like this make me wonder if I have just been extremely lucky in prior weeks. Times like this make me question my skill and all the hard work I have been putting in to learn this skill. Times like this makes me wonder if I am qualified to teach people how to trade. I respect people’s hard earned money and I would feel like a fraud telling them how to use it and then they lose it. Last week was the reason why I titled this post “Has my Luck ran out.”
After going back and looking at my losing trades I realized something however. When I have consecutive losses like this, it’s because I am not following all of my trading rules. If I were following my trading rules I would have only lost $350 last week at the worst and I could have potentially made $500. Last week is gone and there is nothing I can do about it. It still hurts right now but this is a part of being a trader. The good thing about all of this is that I learned from my mistakes and I am taking action. I am going to create a checklist that tells me when I should enter and exit a trade and I am only going to trade when my checklist says so. This is something I have been wanting to do but my success caused me to be lazy and not continuously improve. So this may be a blessing in disguise. Either way, I will be sure to let you know. Remember guys, I will tell you about my wins but I will never shy away from my losses either.
I hope you guys enjoyed this blog post and if you have every traded and feel/felt the same way I did then just go back and see why you were performing badly and make some type of correction. Just remember not to give up. This road comes with pain and losses but the end destination holds surplus and freedom. See you guys tomorrow. Don’t forget to like this post and subscribe! Follow my instagram @TheeDailyTrader.