What's up guys. I'm going to start a new journal just posting all of my daily results. Hopefully it will give me an incentive to trade safer each day. I've been trading since 2010 and this is the first year where I'm actually making a profit. I've been having a good streak and thought it might be a good chance to start another journal that can actually last a couple months. Trading is a lonely journey and hope some people can get some excitement from my results as I do. I daytrade futures - mostly natural gas. Commission has been a killer so I'm thinking of going to commission free stock trading. Last Friday I switched my IB Pro account to IB Lite, which gives me those commission free stock trade. If anyone has any questions I'll do my best to get back to you. Wish me luck
I hear stories like this and have to wonder...you've been day trading since 2010 and not profitable until 2021...did you have a day job that allowed you to day trade? Or maybe they didn't know? It's understandable since COVID, but not 2010. Or were you a trust fund kid? Or lived like a pauper on gov't assistance while trading?
Two problems. A.) You have been trading NG futures 11 years, and are finally profitable trading them. Now you wish to switch to stocks? How does that work? B.) You posted 4 images to your journal, and they are all identical. Conclusion... Stick to making money, forget the journal. You do not have the knack for "journaling".
I'm not sure about the "stick to making money" part. He's made money in half of one year and lost money for 11 years. In other words, he's been profitable less than 5% of the time. Who's to say he's not just enjoying a "fooled by randomness" period where his performance is mean reverting a bit? That's a more likely explanation than "now I've turned the corner and will be forever profitable."
Bezos made for many years losses with Amazon too. Musk made for many years losses with Tesla too. For many years they had ZERO% of profitable time. A successful traders almost always starts with losing years, some a short period, some a long period. It took me also about 10 years to become consistently profitable. I past now the 25 years trading. Maybe wabu27 has made a start of a long profitable period. But maybe not. Future will tell.
I just want to say, to all young traders who believe they're going to get rich trading, BE CAREFUL. We have been in a bull market for the last.. how long? 20 years? 20 years!! There are way too many "traders" out there today who believe it's just about buying a stock and waiting for it to go up to the moon.. They didn't live the dot-com bubble or the financial crisis (not to mention other crisis before that). When SHTF it's going to be terrible. Noone knows when it will happen, but it will happen for sure. And as every time, it will be life-changing for many. To the OP, you've been losing money for 10 years, in a very bullish market with pretty much everyone making money. I think you may be being a bit over-confident because you had a good.. half-year? I'm not saying you can't be successful, I wish you the best. Just be aware that things may get really, really ugly... And by the way, there's no such thing like "commission-free trading". Trade slow, or commissions will kill you whether you know it or not.
he’s been on this board for like 6 years and he’s been nothing but candid about his successes and failures. frankly anyone who is young (<20) should read his post history before determining if they should try to make a career out of trading.