slow and steady wins the race

Discussion in 'Professional Trading' started by angelina, May 25, 2007.

  1. angelina


    Hi All,

    I'm starting this journal in hopes to get some good sound advice on what I hope will eventually be a new career for me (or at least a way to supplement my income).

    I got into trading about two years ago, and started with very, VERY, little knowledge about the financial markets, but with big hopes and dreams (does this sound familiar yet). I read a few books and started swing trading in my husband's brokerage account. The first few trades were fairly successful, but in retrospect I think it was probably just dumb luck that I didn't lose everything those first few months. After a few bad trades, I rationalized that my problem was my position size - I was trading only 3000$ per trade and giving away most of my profit in commissions. I somehow convinced my husband that we needed to increase our account in order for it to be profitable, and then started making bigger trades. For about the next six months, I won some and lost some and came out even, feeling like I wasn't getting anywhere. That's when I started to daytrade. Big mistake! Over the course of the last year, I lost 5000$, maybe not a lot to most of you, but considering that our account was never over 27,000$ it was a big loss to me - and to my husband. When my account slipped below 25,000 I realized that I was addicted to losing and decided to stop trading until I could figure out how to make consistent profitable trades.
  2. What's your plan?

    Also, it might be more helpful to you if you posted this in the journal section...
  3. angelina


    I was trying to post this in the journal section. For some reason when I was typing, I lost it and then couldn't find it again, so I just decided to finish it later. Thanks for replying though, I least I know it went somewhere.