- Name: Jim Steel
- Aka: Superman
- Years of Experience: 5+ years
- Style: Aggressive
What is there not to say about Jim Steel? There is a reason that we call him Superman. He was self employed for 38 years as an electrical engineer before becoming a professional day trader in 2009. Jim was also a fire chief in his local town and retired in 2013. He alone has contributed more to improving to our Congressive Trading Strategy more than any one else. He is by far one of our most successful Graduate Master Traders.
Jim Steel embodies what a successful day trader should be. Diligent in his study no matter how successful he is during the week and he still attends all of our classes and submits his charts. He is constantly reviewing his trades and techniques to improve to both maximize his profit potential and minimize his risk. He has presented new concepts and trades at our annual pro trader’s seminars. In 2014, he even introduced a new way to minimize risk with his new dHTS risk management system that improved results for our traders significantly. Many of the pro trades that we have added over the years have come from Jim’s persistence to get better as a trader. He embodies the DTA core value of giving back and has helped countless of our traders get better.
Jim teaching at a MTU in Tampa, Florida.
Jim knows how to be able to adapt to the market and has proved time and time again he is a master of the markets. In 2014 alone, he was able to have more than 5 twenty point trading days. We are very lucky to have Jim as part of our Master Trader team. We look forward to hosting him in our new day trading center in Medellin, Colombia.
I came across your site during the Spring of 2014. I had just started trading. After a career in Marketing I was layed off and was never able to get a job again. So after a four years of trying to get a jbo, I turned to trading. I began immediately with CFDs, in March, 2014. I started with 10,000euros. I really didn’t know what I was doing. I read about the candlestick charts and not much more. I did my best to approach trading in a structured manner. I looked at the chart patterns, did top down analysis to get a full picture of the forest and then the individual trees. I look at support/resistance, ATR, contaction volatility, and not much more. I used to look at diferente indicators but they just told me what I should have done, not what to do. I don not see volume because my platform, provided by SAXO bank, only shows volume for individual stocks, not índices.
I made mistakes during the beginning and even got a margin cal, which was very scary. I had to depois money onto the account , added 30,000€. After that, I made 60,000 euros between May 1 and June 20.
At that point, being a Catholic and true to my promises, I wanted to give back to others and share the money I made with the poor. I even thought of asking the church to identify two or three families I could support each month. I also wanted to offer my services to your program and help people freely here in Portugal. Well before I could act on my promises, everything started to blow up in my face.
My son, 17yrs old said. Stop trading for the summer. He saw that mkts acted very strangely during those months. Well… I didn’t. By September, I had lost the 60,000. Today. I am down 10,000euros of my own money. I have 32,000€ in the account.
I have re thought my mistakes. I have reduced my positions from 5, 10, 20 down to 2or 5, max. My goal is to gain consistency. Of course it is frustrating to make verylittle on a winning move, but it helps my tolerate bigger moves in the opposite direction, when I get it wrong (DAX for exemple… a 20pt move is only 40€. I can handle that better than a 20pt move with 20 positions=.
In todas volatile mkts, 20 PT move happens in a minute.
I try not to jump into the mkt. just to be in, but I see that my entry points are consistently off. But I have not been succesful. I will have 4 straight wins, and make 25€ per move, and the net day, I will mlose 500€ , because I fall into the same old traps.
I do the big mistake of throwing money after money, with the hope that the mkt will turn. I have hit myself over the head dozens of times.
I am in front of my PC all day, so I am watching the moves. I stopped using stops because I was getting closed all the time, because of my bad entry positions. So now, I get hit harder because I do not close bad positions early … you know… hope that it will turn, I will wait just a littl longer, etc. I only get out when I can’t handle the stress and take the big loss. 90% of the time, it turns back within a minute or two. Same thing happened today.
I do love what I do.
But … I need help.
Good to hear from you Miguel. We definitely have been through much of the same. Everyone wants to start and think they are going to make a million dollars overnight and it doesn’t work that way. Day Trading takes work… a lot of work. Shouldn’t day trade live until you have a good enough track record on sim.
What kind of performance should i achive through SIM to be considered a good track record ? When is the moment to switch?
2 or 3 weeks of consistency Nimrod. Mostly positive within that time frame.
Que tengo que hacer para tomar clases contigo??? ….no es problema si debo esperar a que tengas la disponibilidad. Vivo en Cali – Colombia, podria viajar a Medellin o Bogota.
Have a nice week
Hola Andres… es mejor si nos contactas en nuestro website de Espanol alli te podemos dar mas informacion. https://thedaytradingacademy.co/contactenos/
hello, i have seen your website, it sounds good and appealing to me. i lost money after brexit and had no experience for trading although i am finance graduate. need your help regarding the day trading training. i hope you will reply.
what must i do to make money from a day trading?
Be very disciplined, have patience, and determination.