It is quite surreal to return to the city where everything started. By everything I mean leaving a certified paycheck that I would receive two times a month and the decision to quit in order to start a new nomadic lifestyle. Walking into the unknown is something that is very difficult. Doing something different that our societal norms state we should do is even more arduous.
Before I left the United States permanently and wanted to live a life of day trading and traveling around the world I had a very big decision to make. There wasn’t an issue of making money day trading as I had already been successful in the markets for nearly six or seven years at that point.
It was the sole idea that I would be responsible for my own income.
Much like how a professional athlete needs to perform in order to continue making paychecks.
It was the fear of the unknown. The anxiety of not getting a paycheck every week.
It was daunting and stressful but it was the best decision that I have ever made. I never anticipated that I would be day trading and traveling around the world much less helping a thriving community of traders around the world who want something different in life.
Returning to Canada reminded me of how lucky we really are to be able to live the lives that we are currently leading. Just recently we visited many of our day traders around the world that are starting to live their own dreams.
Most of us get involved in day trading because we want to make money. By focusing on the money we lose sight of what is important which is making a consistent income. Even if we only make a few dollars a day in the beginning, later that can be magnified with extra shares of stock or even contracts. A few dollars turned into a few hundred dollars which then leads to a few thousands of dollars per day.
For those of you that are looking for consistency in the markets this is the primary concept that we have to understand. It isn’t about making $1 million it’s about making a consistent income everyday.
Our traders make an average of two points a day and some to be frankly honest make a few ticks or even one point today.
What we must understand is leverage which is the beauty of the Emini futures market.
Even with just three ticks today, roughly $37.50, multiplied by 10 contracts is $375 per day. At 200 trading days that is roughly $75,000 a year. That isn’t going to make you $1 million but I know many people living a good lifestyle with that income. The median income in the United States alone is about $44,000.
One of the keys of being successful day trading is understanding not only how the market works but also discover things about yourself.
We cannot do something that we do not feel comfortable with, especially when it involves money.
All of us worked very hard and most day traders are successful businessmen that are looking to start enjoying their lives. We have to be able to adapt our strategy to what we feel comfortable with. As most of us gravitate toward success and successful traders this is imperative to understand.
As I wrap up this post I would encourage you to think about what you feel comfortable with and what you don’t. Many of our successful graduate master traders are successful because they have found a niche within our Congressive Trading Strategy. They have found they are not comfortable trading certain market environments. Some traders decide to be more conservative while others decide to be more aggressive.
Think about that as you are going to attack of the markets tomorrow. Think about what you don’t feel comfortable with and then create an attack plan to make a profit every single day. It isn’t about making $1 million it’s about being profitable every day.
Stay profitable my friends.