We are in an industry where large rewards are promised. In our fast paced culture we want everything yesterday. Many people think that they are going to learn how to day trade in a week and start making millions of dollars.
Wrong.
Learning how to trade takes patience, discipline, and tons of perseverance.
Many people also don’t realize that we do have losing days and some days we don’t win big. We think it is important to be transparent and talk about the days where we lose money and also the days where we don’t make a lot.
Today, Master Trader Jim Steel aka Superman reminded everyone that not every trade is going to be a winner. He proved you can lose more trades than you win and still come out on top.
This morning he was able to profit 2.75 points with a 37.5% win ratio.
Just think about that and put that into perspective for a moment. He won only 37.5% of the time meaning that he was wrong over 60% of the time. Even with those numbers the powerful Congressive Trading Strategy & Jim’s pro trades are able to come out on top.
One of the most important components of what we do is the concept that it’s not about making a million dollars in a day- it’s about being consistent. It’s about managing risk and making a solid 2-3 points a day, every day.
Even when the market isn’t being friendly, there is always opportunity to make profit.
You can check out Jim’s chart and notice he won 3 trades, but lost 5 trades. Yet he still took home 2.75 points ($550 trading 4 contracts or $1375 trading 10 contracts)
Click the chart below to maximize
Not every day can be awesome. But Jim proves you can still make money on a bad morning- way to go Jim!
Be sure to peruse our other recaps on the day trading blog and get insightful global investment analysis on the investing blog.