This post is by one of our student traders and I wanted to highlight his feelings on getting back to profitability. I told him in an email that it was important to capture this moment because in the future he will become one of our pro graduate master traders.
I remember his e-mail vividly when he told me that he wanted to get serious and he needed to make this work. We work together little by little with rough patches along the way and he began to look at the market the right way.
This trader has been with me for quite some time and was around during the birth of The Day Trading Academy. He was part of the group of traders that convinced me to start teaching again. At one point I was day trading and traveling around the world and we had no intentions of ever teaching again after I left the previous company I was with.
This group of traders that convinced me to start teaching gave me the pleasure of seeing what was possible when you’re able to give someone else their dream of freedom. Really excited to be sharing some of the stories of our traders that have quit their jobs and are trading full time now and even taking their families to exotic locations like Italy. This is really what it is all about.
I wanted to highlight this story because once he started paying attention to the right things he started to climb back into profitability. May was his first profitable month and I wanted to share this moment. Really love to share these stories on the blog, here is his recap:
Never Give Up
There it is in black and white. My trading log shows 104 trades last month (May ’13) with only a 58% win rate….. but still PROFITABLE! I can’t express enough the gratitude I feel for Marcello and the DTA students for helping me pass the threshold. I still have a lot of work to do but at least now I know that this is REAL and I can do this!
I know that may sound weird for someone to say, but I have taken a lot of hard lessons. When you blow up multiple accounts you start to question the reality of day trade for a living. I am sure that I am not the only student that has at least one time questioned the success claimed by the master traders. I remember at one time I wanted to see bank account statements from the people selling programs and strategies as proof.
To date I have tried 10 different programs before coming to DTA and have been getting my ass beat for four years. For example, in one program I lost $35,000 in 60 days. Below is a statement showing $27k I lost in the first 30 days. I am sharing this embarrassing and personal experience to maybe help someone else to never give up.
In thinking about my journey I see that the turning point for me was not necessarily “being tired of losing” but more psychological. Obviously, anyone would be tired of losing thousands of dollars. However, everyone is different and for me the issue was “Belief”. I needed to believe in myself and a system.
I needed to truly believe that trading for a living is possible, surround myself with successful traders who are walking the walk and trust in a program. I also needed to get more disciplined and log every trade to track my progression.
At the end of the day, I am grateful for all of the struggles. I think that if trading came easily for me in the beginning, I would be setting myself up potentially for harder lessons and greater losses. If you are struggling like I did keep going and consider previous loss as progress. Consider these as lessons and cost for education. Above all never give up!