Motivational stories

[television]

Hey, so i have recently been in a slump and i have lost all hope in being a successful trader. I am now taking a more macro approach to trading and focusing on reading ism reports and various other "indicators" like the nonfarm payrolls. Can anyone who is successful in trading share their story to becoming a profitable trader?

btw if you dont mind please share how much you make on average (just want to know for motivation)

 

[BenTen]

Trading is tough; there is no way around it. Before you ask others to share their stories, I think you should share yours. And I don't mean this in a negative way. I'm all for sharing. You said that you "lost all hope in being a successful trader." I interpret it as you lost a lot of money or blew up your account. If that's the case, can you share how that happened? I think it's essential to learn from other people's mistakes. Did you learn anything from your losses? Let us know your specific struggles, and we can all chime in to help.

 

[horserider]

@television Interesting focus. Macro could be an area to develop.

Pick your approach. Watch, watch, watch to see how the market moves. Then does your approach make you money. If not, why not?

Being profitable. Most important lesson for me was cut trades not going in your favor. Then Grab profits, do not be too greedy. Try to wait to confirm a trade before jumping in. Hint: support/resistance or pivots

 

[television]

I blew up a 300 dollar account in march last year (literally best learning experience and no regrets there) and ever since then I have not touched any real money. That was a lot of money for me at the time but instead of discouraging me I began to work harder and study more. At the time I started following and studying someone who i thought was successful. I followed this guy for 3 months meticulously, had notifications for his twitter and checked his posts in class lol (was a total fanboy). anyways this pier character recently deleted his twitter and yt channel, it turned out he was a fraud and all his trades were fake. This really discouraged me and i actually felt betrayed even though i never met him personally. I jumped the gun and concluded that no one can be profitable day trading. (i realized this is wrong and ppl do actually trade successfully) Looking back at my original post, I was just being dramatic. I took a short break, picked myself back up, and now im going full steam ahead!

 

[television]

@BenTen Love the community you have built here! Thank you!

 

[blakecmathis]

@television When I first started trading futures I made a little over 1k my first day going live. Day after that, loss close to 7k in about an hour because I was too stubborn to admit that I had made a bad trade. Emotion took over for strategy/analysis which is a recipe for disaster. Basically hit rock bottom and thought that I was gonna have to go back to working for "The Man". Kept on getting after it for about a month to get my confidence back up, but I traded 1 contract at a time as opposed to 10. Best thing I learned from this was that it's okay to be wrong, but just don't stay wrong. We all make bad trades brotha but let it go and start looking for that next play and the next profit