from poker player to day trader

Discussion in 'Journals' started by DuyLe, Oct 12, 2012.

  1. DuyLe


    Hey Guys,

    I am trying to transition from poker to trading stocks . I've done a decent amount of research, looked at various prop firms and education sites.(capital traders group, t3, smb, broadstreet, pristine trading, etc). I recently finished building a foundation for technical analysis and did a mentorship under a well known trader, and just finished my paper trading training. I am going to start my journey with an initial risk unit of $5. Check out my blog if you have the time. I will be detailing my progress and entire experience.
  2. Talk about fresh fish....
  3. Well, isn't that what we all have in common: That we were fresh at one time. Keep in mind it is only fish that lays around a while that stinks!

    Good luck, kid. You might want to get a bit of seasoning before you go so public ... but, hey, it's your life!
  4. traderchi128

    traderchi128 Guest

    Good luck man. From what you wrote on your blog you seem to have a good grasp on things. Don't worry about the mistakes. They happen a lot more at the beginning, and will continue (although much less as you get more experience). Hell......I've been trading 20 yrs and still make them. A lot this week. But you just go back, see where you screwed up, and fix it.

    " I need to focus on my execution, and slow down on the trading. Next week, I plan on making only 4 quality trades per day. "

    This is a very smart approach. But I wouldn't put a number on it. Some days there might be 8 great set ups, some days 2, some days none. If you look on certain threads on here , I won't mention names (Topstep trader thread with Mav and Surf), you can see exactly what happens when someone over trades. Probably similar to what you guys see when a guy goes on tilt at the poker table. Playing every hand and betting like a madman.
  5. DuyLe


  7. DuyLe


    Yup. 2007 LAPC main event day 1. He was on my first table. We all registered late. He is pretty loose aggressive in the beginning. He is an incredible player.
  8. Paper trading is only useful in terms of getting used to the platform, otherwise it has no value...

  9. Good luck buddy.
  10. I am also an ex poker player, FU doj :)

    I will say one thing since i had the poker mindset, and people can correct me if im wrong. but the patience and keeping your cool in poker only works in trade setup, NOT once trade is initiated. I would say my number 1 flaw in trading is im patient and i wait for what im looking for, but then i am also patient once the trade is in when i know its not doing what i want it to.

    perfect example is my journal. just a week or so ago i found my perfect setup for a swing trade in CAT, i even wrote in my blog that i will not hesitate to dump it if it doesn't hold my pattern. i bought at 86.86, i somehow am still holding this damn thing at 82.86 or whatever it's at now, one of my worse mistake of the year, but its that poker mindset that got me into this trade, and now i keep holding it hoping i get out, maybe i can bluff people that kinda thing lol.

    well GL man i will be watching your progress
    #10     Oct 13, 2012