I went from blowing up my account in the first year to finally making consistent profits for the past 2.
This journey took me 4 years & a lot of heartache.
To save you the pain,
Here are the 10 pivotal moments that changed my trading.
This journey took me 4 years & a lot of heartache.
To save you the pain,
Here are the 10 pivotal moments that changed my trading.
#1
Understanding My Personality.
I quickly came to the realization that being a large cap trader wasn't the right fit for me.
It was too slow, I need volatility.
Leading me to small caps.
I later realized I did it for a need of adrenaline.
Understanding My Personality.
I quickly came to the realization that being a large cap trader wasn't the right fit for me.
It was too slow, I need volatility.
Leading me to small caps.
I later realized I did it for a need of adrenaline.
#2
Dedicating Time For Screen Time.
This was a slow change, but was pivotal to changing my trading.
Every day I devoted 4 hours to watch the markets & dissecting price action.
I would later dedicate this time to data analysis, but this was crucial for ideas.
Dedicating Time For Screen Time.
This was a slow change, but was pivotal to changing my trading.
Every day I devoted 4 hours to watch the markets & dissecting price action.
I would later dedicate this time to data analysis, but this was crucial for ideas.
#3
Trading Small Size.
My blow up came from over leveraging my account.
Easy fix, trade less size.
It is the harsh truth I never wanted to accept.
It took time but was monumental to my progress once I started trading appropriate size.
Trading Small Size.
My blow up came from over leveraging my account.
Easy fix, trade less size.
It is the harsh truth I never wanted to accept.
It took time but was monumental to my progress once I started trading appropriate size.
#4
Creating a Playbook.
Simply taking a strategy off Youtube or a mentor is great, but I rarely actually understood it.
I spent over a week refining my strategies & building out a thorough playbook detailing each setup.
This provided me clarity in my trading decisions.
Creating a Playbook.
Simply taking a strategy off Youtube or a mentor is great, but I rarely actually understood it.
I spent over a week refining my strategies & building out a thorough playbook detailing each setup.
This provided me clarity in my trading decisions.
#5
Using Data.
After my 1st year, I realized discretionary trading wasn't the fastest path to success for me.
I was simply making mistakes from a lack of experience.
So I turned to data to guide my decision making.
This put me on track to have my first profitable year.
Using Data.
After my 1st year, I realized discretionary trading wasn't the fastest path to success for me.
I was simply making mistakes from a lack of experience.
So I turned to data to guide my decision making.
This put me on track to have my first profitable year.
#6
Building Conviction.
A by product of using data to guide my trading, was an enormous increase in conviction.
Since I had data proving my strategy was profitable, I just had to consistently execute it.
"Conviction comes from evidence"
Building Conviction.
A by product of using data to guide my trading, was an enormous increase in conviction.
Since I had data proving my strategy was profitable, I just had to consistently execute it.
"Conviction comes from evidence"
#7
Understanding Robustness Testing
My first backtests were plagued with basic analysis & testing.
So the next pivot was understanding this & fixing it.
I did this by consuming as much information as I could find on the topic.
These were the books that helped the most.
Understanding Robustness Testing
My first backtests were plagued with basic analysis & testing.
So the next pivot was understanding this & fixing it.
I did this by consuming as much information as I could find on the topic.
These were the books that helped the most.
#8
Tracking my mistakes.
Originally I had a huge list of all the mistakes I was making in my trading.
This was impractical & overwhelming.
So, instead I simply focused on the most frequent & costly mistakes to my trading.
Giving me tunnel vision until it was fixed.
Tracking my mistakes.
Originally I had a huge list of all the mistakes I was making in my trading.
This was impractical & overwhelming.
So, instead I simply focused on the most frequent & costly mistakes to my trading.
Giving me tunnel vision until it was fixed.
#9
Networking.
Trading can be a lonely game, there's no direct need for other people.
But this will hold you back.
Since putting in time sharing my journey & providing free value to bigger traders,
Networking has improved my trading in thousands of ways.
Networking.
Trading can be a lonely game, there's no direct need for other people.
But this will hold you back.
Since putting in time sharing my journey & providing free value to bigger traders,
Networking has improved my trading in thousands of ways.
#10
Focusing On The Long Game.
"Turning $1000 into $10,000 in 3 trades,"
Is how trading is marketed to lure in the masses. It worked on me.
But this thinking made me rush the process.
Now, with a 5 year game plan, I've seen my trading improve tremendously.
Focusing On The Long Game.
"Turning $1000 into $10,000 in 3 trades,"
Is how trading is marketed to lure in the masses. It worked on me.
But this thinking made me rush the process.
Now, with a 5 year game plan, I've seen my trading improve tremendously.
These are just 10 key pivotal moments in my trading career over the past 4 years trading full time.
A million smaller wins also added up.
If you found this content valuable:
1. Follow me @GoshawkTrades for more content like this
2. Jump to the top & retweet
A million smaller wins also added up.
If you found this content valuable:
1. Follow me @GoshawkTrades for more content like this
2. Jump to the top & retweet
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