Odyssey of my trading

Discussion in 'Journals' started by mike5885, Jul 29, 2004.

  1. wrzmstr2


    any more updates Mike?
    #31     Mar 12, 2005
  2. congrats on the engagement. did she move to Vegas with you? how did she feel about your resigning from your stable job to trade.. especially now in light of the 75% drawdown?
    #32     Mar 28, 2005
  3. mike5885


    I am still alive and trading. As always, I am short on time, trading full time and going to school.

    The struggle is continuing, I am in my 8 month of trading and still searching for consistency. The pair trading outfit of Bright is top-notch and has really helped. I am making progress every day.

    I have been back home in Indiana for 3 1/2 months now and am glad to be surrounded by family and friends. They still do not understand why I would do this for a living and put myself through the emotional roller coaster ride. Quite honestly, I love it. I must advise everyone to make sure you have enough trading capital and living expenses to survive the learning cure.
    #33     Apr 23, 2005
  4. Sometimes 'enough' is not enough. Loving the emotional roller coaster ride is not a good trait for a trader.

    #34     Apr 23, 2005
  5. mike5885


    It has been awhile, just wanted to give a quick update.

    I am still trading and doing better. I have am still getting accustomed to pair trading. Rob, up in Vancouver, has made all of the difference in the world.

    I am still very busy with school and trading. I will keep you updated.
    #35     Jun 22, 2005
  6. doing better = making money?
    #36     Jun 23, 2005
  7. mike5885


    Overall I am still down from when I started in September 2004, but the last few months I have leveled out and started to make money on a regular basis.
    #37     Jun 23, 2005
  8. mike5885


    Well, I am still here and plugging along, climbing the learning curve. I did cross a major milestone last week, I survived my first full year of trading. But, not unscathed. I had to apply much more risk capital than I ever expected. This year has been incredible. I am definitely convinced that I have found my career path. I will trade for the rest of my life.

    Some observations:

    *Build strategic alliances. Your firm must provide an edge. Your trading system must provide an edge.

    *commitment. I knew this would be hard. I came into the business scared (respectful is a better word), planning for the worst. This has saved me, I am still around and advancing.

    *Capital. You must not be under capitalized. I came in with risk capital and almost one year of living expenses. That quickly changed. I applied more capital to my business and started working part time. This has actually helped my trading. Working part time nights has crystallized my thoughts and made me realize how much I love trading.

    *Time commitment. Come in 110%. If you shortchange your research, it will hurt. You must be willing to trade hard work and extreme patience for market success.

    I just want to thank everyone on this forum. I do not post as much as I would like, but I do read everyone's posts frequently.

    That is enough for now. I still have much to learn.
    #38     Sep 26, 2005
  9. I thought Don had 80% success rates within 2 months for his boot campers. It sounds like a no lose proposition. they made you put up more than your 25K, imagine that!
    #39     Sep 26, 2005
  10. i forgot about this guy. it's been 6 months since he posted. i wonder if he's still at it. it was pretty ballsy to leave a good job especially considering he was allowed to trade @ work.

    if you're still out there, check in Mike!
    #40     Mar 15, 2006