It’s time for our Master Trader retreat in Sydney!
We have been hosting 8 student traders during our Military Trading event in Australia.
It has been quite fun watching the markets in the early hours of the morning (we just can’t seem to get enough). Seems as if it has worked out for the best with the volatility that we have been seeing.
From the reaction of the announcement from the Central Bank of Japan we saw the Japanese Yen skyrocket. Luckily, we were prepared for this move and were able to catch the most of it.
The only disappointment is that we didn’t catch the entire move. Here is the chart with the live PnL.
It would have been possible to net more than $4,000 extra on this trade.
Goes to show that traders aren’t perfect and we do make mistakes.
Finishing up our Military Trading in Australia we are now off to our Master Trader retreat in Cairns. For us, day trading isn’t so much about making money. Anyone can make money or lose money.
Day trading is truly about living the lifestyle you want to live.
To be able to make money, anywhere in the world, at any time.
The goal is to have enough money to not worry about money. And also be able to enjoy it. Too many people talk about making millions of dollars when the reality is we would have to work 15 hours a day to reach that feat.
Why not enjoy life making a comfortable living in just one or two hours a day. Then we can enjoy this:
Day trading is the only profession in the world that gives us unlimited potential and also the freedom to live the our lives the way we see fit.
What if the global economy is in a crisis?
We actually make more money when things aren’t going well than when the economy is booming. Although most of the media is glowing at the economic numbers we truly haven’t seen any kind of significant recovery since 2009.
Take stocks for example. Most of us own them in our retirement plans and pensions. If the stock market tanks or doesn’t do well then we are going to be in trouble. Many people lost everything in Global Financial Crisis that started in 2007.
Although stocks are heavily manipulated by High Frequency Traders all of us still own them.
I even swing trade them.
The only problem is that shorting stocks becomes a bit more difficult when the market isn’t rising. First, we need to worry about finding the stocks to borrow in order to go short. Second, if we are able to find stocks to borrow, then we have to worry about having $25,000 in order to day trade stocks to comply with the Pattern Day Trading Rule (pesky government regulation). Thirdly, we have to keep in mind that any stock and/or stock exchange can be halted at any point in time. Especially when the market is cratering.
Although stocks are one of the most traded vehicles in the world we wouldn’t have been able to make $16,007 unless we had somewhere upwards of $1 million dollars.
Futures, on the other hand, are not halted by the government when there are investigations. We can open a futures trading account with just $1,000 and can make a lot more with less.
With stocks, each dollar that the market moves up we make $1 dollar in profit. With futures being much higher leveraged we are able to make anywhere between $50 (E-mini S&P 500) to $5,000 (Silver) for every dollar that the market moves.
Trading in Australia has been amazing so far. One thing we have learned is the internet in Sydney isn’t the best.
It is also quite expensive!
Look forward to sharing some of our updates from Cairns and our weekend in the North Beaches of Sydney.
Click here to watch on YouTube
Congratulations on a beautiful trade. Don’t worry about the $4000 extra. Money will come in abundance.
Best wishes from Sweden and stay profitable, friends. Can’t wait until I have saved enough money so that I can finally join this.