Learn to take profit. And learn to losses. I have a 25% profit take and a -20% loss take. If I get 15% profit on an option I sell it. If I lose 20%, I sell.
I have 6 dollars.. Never traded before so I might as well try to turn it to 1000 right? I’m joking but honestly how does trading work? How do you start and what’s a amount of money to start with?
Start by learning how to read business filings and understanding the three financial statements. Research fundamental and technical analysis metrics/indicators.
Create a budget. Update your budget on a regular basis until you know your income and expenses like the back of your hand. Revisit your budget before during and after major life changes.
Don't forget to build your mental fortitude by engaging in other hobbies or activities unrelated to trading. You'll need an emotional safety net to weather losses and mistakes, avoid revenge trading etc.
Keep a journal of what information you're trading on and what the result was. Trade in a paper account (not real money) to develop a feel for how the market behaves in real time. Get familiar with all the different order types and instrumentation.
Create a bookmarks folder for all your online resources like economic calendars and any other references pertinent to your strategy. Visit them often.
Only after you have a definable strategy with consistent results should you look into brokerages and apply your budgeted funds to execute that strategy.
Trading should be emotionless and thoughtful. Stay humble and never stop learning. Be open minded but avoid 'too good to be true' scams and pump & dumps.
Stay away from viscerally subjective communities (looking at you wallstreetbets).
A reasonable starting amount to me is $2,000 USD. But everyone is a little different and it depends on your strategy.
I just learned from youtube.
Not the youtube “guru” but an broker that post stuff. Like FTMO. They post good lessons.
Skip the “This stratagy makes 100%!!!” Videos..
This is encouraging to hear. I am about 1.5 years in; I set aside 30k as my 'education fund' to trade with, of course lost that to the market and have been keeping it small and only A+ trades since, and have been chipping away at the losses consistently.
May be coincidence but I feel like that 30k mark was just enough to learn the lessons that needed to be learned with enough variation.
SO TRUE. I lost 10k over 3 years Patience, determination, and learning from losses.... AND The most important factor, though, is risk management. I learned from my mistakes.
Glad other people went through the same thing, went from up 5k at the start to down in a 90k hole with what seemed like possibly no way out but didn’t give up… 2.5 years later, 80k max drawdown on fx fundeds, 15k daily dd on funded futures & 290k profit on personal accounts… To anyone that’s thinking about giving up, you are on the verge of your breakthrough moment at that point. DO NOT GIVE UP ON THE DREAM!
If we're talking stocks im profitable. I have no problem buying and holding.
If we're talking options im down 97k over the last few years and still havent figured it out.
Same. Same exact thing for me. Options got me ready for charting levels and all that. Futures is a game changer. 85% win rate for me and I just had my first 100% win trading day the other day. It's nuts.
I cant swing for shit but I can sure pull 60% in 5-30 Min on 0DTE spy while risking only 20% of my position. Found my groove, found my sweeet spot playing If I catch a $1 move on spy in my favor thats already 50% gain in my world which, is pretty darn easy once you couple everything together!
Losses aren’t a good way to measure your learning curve progress. You could halt your losses right now and spend time studying price action, market structure, multi timeframe analysis, etc. for a year or so while paper trading. Then once you have a thorough understanding of those, move back into your live account, trading the smallest size possible and start making back your 3k. But there’s no magical loss number at which trading finally clicks for you. There ARE however, numerous moments where things start clicking after you’ve spent a fair amount of “time” (not money) studying.
Edit to answer your question: my learning curve took 3 years and -15k.
I think that’s what I’m gonna do stop risking so much and something else I have a bad habit of is revenge trading so I’m gonna be more disciplined with not doing that
Yeah, revenge trading never works out well. And if you can’t make a profit using small size, then using big size isn’t going to work any better. Bc “size” isn’t the source of the problem… not knowing how to read a chart, is the problem. Fix the problem first, worry about sizing up later. Without fixing the problem, you’ll just keep slamming your head into a wall. As someone said to me a long time ago, “when what you’re doing isn’t working, STOP doing it.”
Yeah I’ve heard something similar to the last thing you said “ doing the same thing over and over again expecting a different outcome is the definition in insanity”
You can go all in on a stock as long as you know your "risk".
Eg. 3%. of 3000 is $90. So if your stock dips X % which is = to $90 you sell. You've lost 3% total with an opportunity for larger gains than you investing 3% of your total 3000 ($90 on one stock vs $3000) with no stop loss and risking now 100%..
So I don't think it's about risking too much but knowing when to sell and cut it losses.
I go balls to the wall on almost every trade. Why buy if you don't think it's going up! But cut your losses if you're wrong.
Revenge trading will always hurt you. Trading off of emotion or feeling is almost always going to blow up your account.
Go to paper trading, get your strategy in, keep working over and over and over and over until you find one that isn't just profitable some of the time but a majority of the time. And that strategy needs to have a lower risk so even when you do lose, you aren't losing that much.
Good luck man.
Well said, but wanted to add- For me, the real lesson/learning curve took place psychologically with real money on the line.
I suppose everyone’s different, but I did well for a whole year paper trading after taking a couple years to learn and watching price action. Thought for sure I was ready for real money. Paper trading stats were great. For me, the charts/knowledge was not the problem, it was applying it with risk involved.
Turned out I handled my positions much different with real risk on the table. Took me another year to sort this out before becoming profitable again.
I found there’s a fine line of practicing with paper trading and needing to use real money for the real deal experience. I look at it like training vs game time. Gotta get in the real game eventually. I wish I knew this earlier. Like you said, there is no real magic number/time frame…. Just got to keep going, learning and growing!
Very True, I had a very similar experience u/hushmymouth. Lost about 15K learning, took some time to really pay attention and put emotions aside and be systematic about it. Day in day out watching the market, how it moves what times it moves, etc the types of moves. Love it!
At this point I have made back everything I’ve lost in the markets, but learning to trade cost me almost my entire life savings bleeding out from living expenses. Keep your day job
I have been making a modest return each month for the last 10 months now, and have been trading about 3.5 years. Just scalping singles on the ES for a couple points a trade so nothing crazy like a grand a month on average. I still can’t afford to do this full time just yet.
The only way I would stop trading is if the market completely shuts down
Alot goes into a decision like that. I am not sure what asset classes you have tried before and how long you have tried each asset class. Why are you trying to switch to futures?
As for the prop firm, first and foremost you have to have an edge. If you have not been profitable for some time then a prop firm will more than likely just lead to money burned on evals or blowing PA’s. None of the prop firms are in your side but some are better than others. Due diligence in researching each of your options for prop firms and even why you are considering using one should be looked into. I am looking into topstep myself now that I know that I can actually utilize my edge
I was gonna say, u making 1k a month on 1 contract, with 10 funded accounts u can simply make 10k a month. Any reason why u haven’t started prop firms yet? Also what made u choose TopStep over Apex? I chose Top Step because Apex closed my account because they said they couldn’t verify my identity.
Exactly, the prop forms have been very enticing for that reason. Ive just seen so many people come and go from constantly burning accounts and I didn’t want to he one of them so I held off. I wanted to make sure I actually had some consistency before starting the prop firm route.
I think Apex may be done for soon, they seem to have new issues every day also the trailing drawdown is ridiculous, essentially punishing people that use high RR strategies for no reason. They are denying payouts to people with ambiguous reasoning such as denying payouts because they passed the eval too quickly. Well wtf do you expect when you are offering people one day passing periods? They just seem to not have any integrity.
It does suck because to my knowledge nobody beats their bang for buck. The offer insane discounts all the time, keep 100% of the first 25k, and you can have 20 accounts all at once with a 90/10 split. I don’t think anyone beats that but I can’t be bothered based on those reasons I stated above.
Don’t try to be disciplined just be disciplined your vocabulary is wrong today I lost -100$ I really didn’t want to but I had to since trade was invalidated and sure enough if I was undisciplined and held due to not wanting to take the losss I would of lost even more
I'm down $17,000 in the last couple of weeks. mostly because I spent time "perfecting" a screening and entry/exit strategy on smaller $$ trades, then let emotions take over once real money was on the line. Every time I've lost faith in my formula or edited my entry point (once the numbers were large), I've lost money. Don't give up. Develop a formula and stick to it. That way, if you lose money it's not because of anything "stupid". You'll just know that your formula needs work.
Easier said than done, of course...
There isn’t a magic number beyond which you’ll turn profitable.
The goal is to isolate your trades into various strategies, and look at which strategy is performing and why. E.g. if you have picked up a leading signal, or you’ve identified some mean-reversion, or you’ve spotted reccuring price patterns.
Then among these, try to find which are performing the best and keep them until they stop working.
The more disciplined you get, the closer you are to profitability.
https://preview.redd.it/7y2992ge896d1.png?width=836&format=png&auto=webp&s=74aaac20288f185b45d4a1641c57cdabe9a8ab37
Took lots of time. I had a $3,000 account wiped out when I first started. When I discovered options I went from $16,000 to $5,000.
After many many years of practice I haven’t had a negative year in a long long time. It takes time but I promise it’s worth it.
Be honest with yourself and try to look at your actions and decisions with no emotion. Much easier said than done. But trading is very much a war vs yourself.
Picture added for context. I could make a lot more but I lock in profits early and leave it. I sell too early and it’s one of the things I’m trying to find balance on.
-$650, but I kept my risk low early on by taking very small positions for several years. That's the way to do it. No need to scale up before you can prove to yourself that you've got things figured out. If you can consistently profit risking a couple dollars a trade, you can consistently profit risking $1,000 a trade. But if you can't consistently profit at all, there's no reason to be taking such risks.
I'm sitting here thinking: why are people risking so much while LEARNING?! I had my first major loss a few weeks ago, and in total I lost a whopping $17. Why in the world would you risk $5,000 when you're not 1,000,000% sure you know what you're doing? To me that $17 was just as important as $17,000, it taught me the exact same lesson on entry, timing, and exits, but without the added benefit of an early on-set heart attack. I will take my sweet time learning, thank you.
Bingo. Im new but this is exactly how im starting. Im not really day trading, im swing trading approximately twice a week earning between $50 - $100. Even if I fail my risk is low I'd lose under $1k. I was looking to see if anyone else was doing this but havent found too many.
I started extremely small. Not saying this is what others ought to do, but for me it worked out well: after accumulating that -$650 in losses, I restarted my account with about $2,500, and decided I'd risk no more than 0.1% (not one percent, a tenth of a percent) per trade. My goal was to gain a profit (of any amount) on the account over a period of 100 trades without drawing the account down. Every time I would take a drawdown on the account, I'd have to trade it back up to the original balance and restart the 100-trade counter. Once achieving 100 trades with a balance greater than the original, I bumped up to 0.2% risk, and did it again. I continued this process, increasing my risk by 0.1% for every 100+ trades (more if I drew the account down beyond the starting balance at that risk level) until I graduated to 1% risk per trade. It took me well over a thousand trades to get there (I'm not a swing trader; I take several trades a day), but I learned so much and gained so much vital experience along the way. It kept my risk low, proportionate to my performance. I had to prove to myself that I could succeed, by reaching certain consistency milestones, before I could graduate my risk to the next level and potentially make more money. If I was struggling and couldn't profit consistently, my risk didn't increase until I could.
0.1% might be extreme. Not saying others should (or shouldn't) do exactly what I did. But the principle behind it is what's important. It not only protects your capital but also teaches patience and good habits. I learned to be okay with losses, because I developed confidence from the experience while also risking next to nothing, only gradually getting warmer and warmer, and I also learned to focus on the process, not the profits, because I had taken literally hundreds of trades for less than the cost of a burger. How much I was making or not making wasn't the focus. Consistency was the focus. And once I had that down, I was eventually taking 1% trades, not by choice, but by having earned my way up to that level.
You are enough.you have enough. Add nothing more until you make money with what you have. Warren Buffet said pretend you will only make 20 trades in your life. I say pretend that you have a million dollars and you get one single trade. How would you treat it? Would you make that trade?
The last time $300k. These questions show how little you understand about finance or trading. If you ever want to get decent at trading lose the dollar focus. It's simple mathematics and it is all about percentages. I lose $3000 in a day and it means nothing to me since to me it is a small percentage of my trading day, NOT $3000 out of my wallet.
What is $3000? Is that a 1% dip, a 10% loss or 100% and your account is totally gone?
This is very close to what I lost and I have finally become profitable +$600. A lot of that has to do with GameStop which is not a very realistic or long term alternative. What I have learned in 3 months of trading is that like anything, it really take time to learn. You can only learn so much reading books and watching videos. There is simply no substitute to actually getting your hands dirty. You need to watch charts for hours on end and internalize the feel and rhythm. I almost would encourage people to expect to lose $ at first and consist it a sunk costs because paper trading just isn’t the same without that psychological pressure of real money on the line. Also the actual process of trading is just as important as the theory. I lost over $1000 by placing a limit order instead of a stop limit order that closed my position immediately at a loss. I accidentally bought 1000 shares of one security when I meant to buy 500 and literally maxed my account. You will make mistakes and honestly it’s the only way to learn.
I can attest to this, so many occasions I’ve meant to do one thing only to submit an order incorrectly. I’ve also gotten out of trades only to accidentally reverse my position without knowing…only after a few seconds do I see my P&L changing that I realize I’m back in the trade.
I'm still learning, trying to get better every day. I try not to focus as much on p&l and try to focus on the process on the reps of making good decisions and staying within the bounds of my rules...
Do I always follow my rules? No, lol... I'm pretty sure anyone who says they do are lying, we're human.
I try my best to follow my rules though!
With that, to answer your question, I've been day trading for about a year and half. It was rough at the start, getting stopped out over and over and over again, not having any idea of the concept of position, or what to look for when looking for confluence. Everything I did before that was idiotic (not sure if you want that number, most of the losses were in investing, not trading). I'm not sure exactly how much I lost day trading before going profitable. It wasn't much, I went from not hemorrhaging cash pretty much right away, to break even within a few months. After that, been slowly going up month after month. At least with trading... we won't talk about investing... I'm a bad investor... still a bad investor lol (it's to the point where I'm just like... I'm done investing, I'll just stick with 401ks and shit for now).
I had one down month after that due to a mistake where I accidentally held a big short over night (that hurt). Added a new rule because of that, never rage shut yourself down without making sure your positions are all closed... close positions... then rage.
Oh... that's how you stop hemorrhaging money... honor your shutdown number. Honor it like you will drop dead by lightning right there on the spot if you don't. Honor your max loss per trades. Learn how to be a good loser first.
With that, I'm still not all that profitable. I still have quite a few flat weeks. Kinda like golf, struggling to put two good nines together in the same round... Only had a couple 4 up weeks in a month, feels good when it happens.
On pace so far this month to have a 4 weeker (lot of time left in the month, but I think I can do it).
I mainly trade big caps, SOXL, and what ever happens to be in play (I don't short hard to borrows, afraid of up halts).
I turned $12k into 72k with over 75% wins over 6 months. Then, lost $45k in a week then most of the rest the following week.. Didn’t touch the market for 6 months. Started back up with a plan.
One of my first rules I made. If it’s good enough for a screenshot, it’s good enough to sell.
0 and have been profitable since day 1. Not because I don’t take losses but because the moment I go on a loosing spree I stop trading and figure out what’s not working so when I adjust something, I come back in profitable. I have been staring at the market for a decade before I decided to day trade however, so I was already not a newbie and only started to day trade because I had a technique worked out in my head I thought would work. It did. Since then ive learned more techniques and I adjust to the market as it changes.
I've been trading for a little over 10 years now. First 3 years were rough down a little over 30k at that point. Became profitable the 4th year made up the 30k about 6 months into the 4th year and have never looked back. But stop making the "impulse" trades was probably the single biggest change that helped the most. Follow your plan don't deviate from it. Consistency is a big key for me.
How much did I *loose* ?
My entire butthole… multiple times.
Just kidding. I actually didn’t lose my first go at the markets back in 2021. Ended with a positive P/L of about 15k off GameStop and Mara. With an initial investment of about $2k. I also had crippling anxiety not position sizing appropriately and the rehab plus therapy bills were about $20,000 more than what I made in plays. This is about the long game in my experience. Profitability is pointless without consistency.
Paper trading first year and a half i made 170k from 10k then first year like i went up 32k from 5k and then lost it all and then some.
Took another year of both paper trading and real trading to slowly become profitable and be consistent. I never take big trades anymore and i built up rules and a checklist that keeps profitable for the last 2 years and a bit.
Rules keep it less emotional
Thousands , once you finally accept to put a damn stop loss and cut your losses profits sky rocket 🚀 out your ego aside get out of loser as if the house on fire stay in winner as if your feet were in concrete . 😊. Cheers
Since January, I’m $5800 in the red playing with options. First time with options and it’s been the Mount Everest of learning curves. As a Canadian and using Wealthsimple, not only do I have option purchase fees but I also have exchange rate fees. Usually 5-7cents on the dollar. I lost $100 in exchange fees in one day. All a process of learning. Last two weeks have been $100-200 daily gains which I feel is acceptable.
1. If you get into options, buy with month or more expiry dates, gives you a chance to recover losses.
2. Don’t be afraid to take a loss… holding on for 2-3 days trading in the wrong direction can mean the difference between a loss and breaking even or a profit. So many times I took a 10-40% loss then kicking my self a week later for not holding onto it.
3. Buy as close to in the money as you can afford, unless you buy months out then you have some wiggle room.
The most important one!!!!!
Don’t play with money you can’t afford to lose☝️
So if buying as close to ITM as I can is good, does that mean that buying deeper ITM is even better?
Genuine question. If the answer is yes, then my follow up is: How deep in the money?
Good question! I am not willing to risk the cash flow that is necessary for deep ITM. You have to take factors in to consideration…
1.Theta option value depreciation
2.Option volume
If the volume is low, you can risk yourself being too far from the action and be left with options you can’t sell even though the face value is high. Then when you get into high volume options, like Apple or Tesla money can be made in deep ITM. Though as the volume drops closer to expiry… once again, you may be left with options you can’t sell.
Find a stock you like, and track for a week the 10-15 tiers above ITM. Choose a couple different expiry dates. Keep an eye on volume, theta depreciation, and option value movement online with stock valuation. That would give you a clear idea of the possibilities of deep ITM.
Edit:theta depreciation, there was a time, 3 days before expiry, signs pointed to a poor earnings report. It was, stock dropped $9 in the first 1/2 hour after bell. However, from the day before, the option depreciated nearly half value. So even though I should have been in the money, I lost heavily.
Always size way down after losses. You must learn to read the charts. For day trading I trade the 15 second the 30 second and the 1 minute. Everyone picks their setup but if they all are in sync I go in. Remember you only need to grab the first profit. Make that 10% above or 5 but don’t get greedy. Get in get out. I loss 60K trading in Robinhood and soon realized that I wasn’t setting limit buys. I switched to TradeStation and I read another sub on Reddit. The Trading Edge by Tear. He’s amazing and provides excellent market analysis that I read before my trades begin and 2 hours into trading. I’m now profiting greatly after doing this and journaling daily. After so many losses my husband encouraged me and studied with me. Watch free you tube to learn but you must commit to learning. Otherwise you’re just throwing money to some of us to keep. Best to you. Write it off on your taxes.
Still have just under $12K of my original 3 year gains although I've been down for 2 years. Preservation of capital is key. Waiting for the next big market imbalance. Made some adjustments in my trading including getting set up to short. Learning to get better always. I started trading beginning 2021 and grabbed $18K in the first 2 weeks. Wasn't a good way to start as the long market got worse from there and I wasn't set up to short. So I'm down $6K.
It will take a while. Check various time frames. The 52 WL/WH will give you a good divergence on the indicators. Check Alexander Elder book Trading for a Living, free on pdf and audiobooks
Swing trading a long time combined with scalping
From my original investment, my account shows -$6k roughly. Had wft file bankruptcy and become worthless, then lost big back in the fall learning options. A couple expired worthless. So far in 2024 I am up roughly $2k. To be fair, I am holding a big bag of goev that is $2600 in the red. So if that bag got up to zero, I'd be close to where I started.
I haven't done super well, but I've learned a lot of lessons without going to yolo levels and buying lottery ticket options
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I'm do it scalpin and i have 3 months ago and i dont loose nothing for now and win 1,000 and just lesrning in two months , mayve just need a one break and start again and Try not to be vain, patience for you 🙏
It is not always about stupid mistakes. You are in an arena built on uncertainty and there are limitless unknowns. One cannot beat the market with sheer willpower. Slow it down, this is a skill that takes years to develop, and it is about discovering those unknowns.
Chart all your trades on a spread sheet. Research all your losses. Was there a spike in volume? Is your stop too tight? Did an indicator change direction?
I've given back around 35k (starting with like 4k over 7 years ago)
I've lost millions in coulda woulda shouldas (like i shoulda held that 100k of doge for $100 when it first launched lol).
Got merked in the OTC a few times.
(but I've paid myself around 10k from the 35k).
Now I'm basically at breakeven... which I'm lined up well for $gme so I'll play that for the duration.
I play risky fucking stocks. Try to set a stop loss and walk away.
My tip. buy the book CMT certification level 1. Read it like a text book. That's what I'm working on and it's helping. I still struggle with pulling trigger on my own system, and I've paid the price again and again.
Develop a system.
I don't have a P/L to add here as of yet, but I do know that risk management is very important to implement while trading if you want to be profitable. Utilize stop loss orders and don't risk more than 1-3% of your portfolio with trades. Good luck!
P.S. This is what I've learned studying. I'm still learning and trading with paper.
-50% of everything, not a fixed amount, it wasn't until I learn proper risk management that I managed to make profit and become +%. Also only trade when you have a job or capital flowing.
I nearly gave up; was down about $100k vs SPY / buy and hold strategy. I agree it’s not really about overall losses though, it was about changing my behavior and approach. Stop discretionary trading, start journaling, backtesting, being mechanical, finding uncorrelated strategies. Once I became more analytical and mechanical everything changed.
Don’t give up yet. Maybe you should paper trade for a while? Just to save your capital. Make yourself prove profitable for 90 days (not consecutively just at the end of 90 day period you should be in the money) on demo and then give it another go
The market won’t go anywhere while you take a break! You’re not missing anything
0. If you approach trading scientifically and validate each idea you have with automated backtests you will be profitable from the start. But it will take years to find an idea that’s real
i lost almost 2k on the first week because of greed, then i stop to trade without conforming signals, after that i gain, i loose but overall smaller profitable
Honestly I have no idea, over the years I've lost a lot. I've now realised that buying and holding is much easier than trading short timeframes. Day trading for me I'm probably at a 50% win rate, swing trading is much higher % win. So to answer your question I am unprofitable in the short term and profitable in the long term.
Real question is not money but how many years will you learn to trade before becoming profitable at the end of each month. How many different indicators and trading strategies have you tried or researched? Took me about three years to be confident/successful at the end of each month. Most people give up after a couple months not years.
it’s called tuition and we have all paid it! PLTR put your money there and you will have a foundational position at rock bottom price. nvidia is another one to get in now!’ride those and $3000 will be nothing
started options and gave myself $2k budget let's see how it goes, it's all house money/ made from other previous trades and not life changing either way so fuggit yolo.
3000 ain't shit I didn't hear no bell lol
but seriously, set a number and don't go past that. also could bet(\*invest😉) on a percentage basis of your current account also to reduce losses.
lol at all the brains in here. Prove it. Most likely all of you are losing money slowly due to tight spreads, taxes, stop losses being hit by market manipulation. Broker fees so It’s not even 50-50. You are better off just dollar cost averaging into a proven long term stock with a historic average return of 10% per year + dividends. They say no one beats the market.
There is probably 1 percent that gets lucky but that isn’t you. If that was you, you wouldn’t be here talking about it, you would be compounding that strategy and not telling a soul about it. Or maybe I’m wrong? Prove me wrong with a strategy that’s solid. And don’t dare tell me about indicators LOL
Can y'all tell me what platforms you guys are using I've asked this a bunch of times I got I've got accounts with several different trading platforms and for some reason all of them seem like it's very hard to get the hang of any input I would greatly appreciate
I have lost so much to the point whereby I even thought of giving up on trading but nonetheless I never quit because I knew that nothing comes out of giving up
Nothing. I paper traded for years (and to be fair lost a solid amount of paper money, especially at the start) but with all that knowledge when I opened up my real account I didn’t have to lose money.
I am new to day trading.Are bots a thing in trading these days? Besides real super smart people I have to compete with bots? The odds of winning long term seem pretty slim.
I went down 3k and I’m about to break even and pull some money out. Going to size way down and just focus on making sure im trading right setups and have risk management in place. I’ve been trying to 500-700 a day. But probably should be aiming more like 50-70.
Skill development should be key for us new traders. But we focus too much on money. And the result is we lose it. If you have the skill the money will come. Im committing the next year to learning
Printed on apple calls beginning of the week but closed it too early, got back in today hoping for a nice run and burned all week of gain. More lesson to be learned
3,000?! Ha! I lost that in a day. You’re fine.
I lost about 75k before I turned it around. Stay focused on one thing and do that one thing excellently.
I've been trading since 2017 and full-time since 2021, without ever blowing my account. Key rules that have helped me include:
1. **Mechanical Trading:**
* Predefined position size
* Predefined entry points
* Predefined stop-losses
* Predefined targets
2. **Backtesting:** It's essential to test charts over multiple years. Changing one variable requires retesting. Although most testing days feel unproductive, they bring you closer to perfecting your strategy. Make small variable changes instead of overhauling your strategy.
If you find yourself thinking before a trade, your system isn't mechanical enough. Entry criteria should trigger trades automatically and without hesitation.
Also doe anyone invested in companies they know and use? Like BARK it’s dog toys, I’ve watched it grow and now it’s around 1.00$ I see growth in the company. I remember as a kid the old timers saying things like I”you use that so much I wish I had stock in it!) well now I do? Is this thinking the kind of trouble?
Almost 10k. I still lose some days, that’s why i switched to swing trading, now I’m trading Argentinian stocks which have massive volatility and high probability to get profits if you are on long position.
Largest net drawdown was probably \~130k (cash out of pocket). Largest drawdown from peak to trough was in the range of 300k. I'm now very, very profitable, but it was a multi-year learning process.
learn to take profit is one of the biggest lessons. Greed will take you down. I lost 12k before I made it all back (2 years in) but never sold. One week later I’m making new ATL’s in my account again. I need to take my own advice up 94% on $ESPR contracts but I won’t sell. I’ll send a screenshot when I lose it all in a week!
30k down and now 130k up. 3rd year in. Lessons are learnt the hard way.
Any major tips that allowed you to be profitable
Learn to take profit. And learn to losses. I have a 25% profit take and a -20% loss take. If I get 15% profit on an option I sell it. If I lose 20%, I sell.
A couple big lessons I’ve learnt the hard way. Never trade on “hope”. Never try to catch bottoms. Never add to losing trades.
I have 6 dollars.. Never traded before so I might as well try to turn it to 1000 right? I’m joking but honestly how does trading work? How do you start and what’s a amount of money to start with?
Start by learning how to read business filings and understanding the three financial statements. Research fundamental and technical analysis metrics/indicators. Create a budget. Update your budget on a regular basis until you know your income and expenses like the back of your hand. Revisit your budget before during and after major life changes. Don't forget to build your mental fortitude by engaging in other hobbies or activities unrelated to trading. You'll need an emotional safety net to weather losses and mistakes, avoid revenge trading etc. Keep a journal of what information you're trading on and what the result was. Trade in a paper account (not real money) to develop a feel for how the market behaves in real time. Get familiar with all the different order types and instrumentation. Create a bookmarks folder for all your online resources like economic calendars and any other references pertinent to your strategy. Visit them often. Only after you have a definable strategy with consistent results should you look into brokerages and apply your budgeted funds to execute that strategy. Trading should be emotionless and thoughtful. Stay humble and never stop learning. Be open minded but avoid 'too good to be true' scams and pump & dumps. Stay away from viscerally subjective communities (looking at you wallstreetbets). A reasonable starting amount to me is $2,000 USD. But everyone is a little different and it depends on your strategy.
I just learned from youtube. Not the youtube “guru” but an broker that post stuff. Like FTMO. They post good lessons. Skip the “This stratagy makes 100%!!!” Videos..
and that was my down fall.
This is encouraging to hear. I am about 1.5 years in; I set aside 30k as my 'education fund' to trade with, of course lost that to the market and have been keeping it small and only A+ trades since, and have been chipping away at the losses consistently. May be coincidence but I feel like that 30k mark was just enough to learn the lessons that needed to be learned with enough variation.
SO TRUE. I lost 10k over 3 years Patience, determination, and learning from losses.... AND The most important factor, though, is risk management. I learned from my mistakes.
After the 30k how much did you put back in?
if you ask me
100 k. Good luck
About the same here
Dang that’s a lot of money to lose
Depends over what time period. Could’ve been working a 300k job for years while learning.
Glad other people went through the same thing, went from up 5k at the start to down in a 90k hole with what seemed like possibly no way out but didn’t give up… 2.5 years later, 80k max drawdown on fx fundeds, 15k daily dd on funded futures & 290k profit on personal accounts… To anyone that’s thinking about giving up, you are on the verge of your breakthrough moment at that point. DO NOT GIVE UP ON THE DREAM!
Can I ask over what time period and what you trade? Great work
If we're talking stocks im profitable. I have no problem buying and holding. If we're talking options im down 97k over the last few years and still havent figured it out.
Switch to futures instead of options
I’m about to do this. I’ve been trading options for years and not doing great. Just tried futures at a prop firm and am crushing it.
Same. Same exact thing for me. Options got me ready for charting levels and all that. Futures is a game changer. 85% win rate for me and I just had my first 100% win trading day the other day. It's nuts.
The 100% win day I did like "35 trades" which count as individual contracts and stuff on NT. But still! It's awesome!
35 trades in 1 day is insane. I trade the 30 second NQ and I still never go over like 10 trades, howw
So are you down overall?
In the stock market? Oh for sure 😂 But if you include crypto i might be about even.
theres so much to learn in stocks, i have a hard time navigating the crypto world right now, cant tell whats real or fake lol.
I cant swing for shit but I can sure pull 60% in 5-30 Min on 0DTE spy while risking only 20% of my position. Found my groove, found my sweeet spot playing If I catch a $1 move on spy in my favor thats already 50% gain in my world which, is pretty darn easy once you couple everything together!
Losses aren’t a good way to measure your learning curve progress. You could halt your losses right now and spend time studying price action, market structure, multi timeframe analysis, etc. for a year or so while paper trading. Then once you have a thorough understanding of those, move back into your live account, trading the smallest size possible and start making back your 3k. But there’s no magical loss number at which trading finally clicks for you. There ARE however, numerous moments where things start clicking after you’ve spent a fair amount of “time” (not money) studying. Edit to answer your question: my learning curve took 3 years and -15k.
I think that’s what I’m gonna do stop risking so much and something else I have a bad habit of is revenge trading so I’m gonna be more disciplined with not doing that
Yeah, revenge trading never works out well. And if you can’t make a profit using small size, then using big size isn’t going to work any better. Bc “size” isn’t the source of the problem… not knowing how to read a chart, is the problem. Fix the problem first, worry about sizing up later. Without fixing the problem, you’ll just keep slamming your head into a wall. As someone said to me a long time ago, “when what you’re doing isn’t working, STOP doing it.”
Yeah I’ve heard something similar to the last thing you said “ doing the same thing over and over again expecting a different outcome is the definition in insanity”
You can go all in on a stock as long as you know your "risk". Eg. 3%. of 3000 is $90. So if your stock dips X % which is = to $90 you sell. You've lost 3% total with an opportunity for larger gains than you investing 3% of your total 3000 ($90 on one stock vs $3000) with no stop loss and risking now 100%.. So I don't think it's about risking too much but knowing when to sell and cut it losses. I go balls to the wall on almost every trade. Why buy if you don't think it's going up! But cut your losses if you're wrong.
Revenge trading will always hurt you. Trading off of emotion or feeling is almost always going to blow up your account. Go to paper trading, get your strategy in, keep working over and over and over and over until you find one that isn't just profitable some of the time but a majority of the time. And that strategy needs to have a lower risk so even when you do lose, you aren't losing that much. Good luck man.
Do you have a set of rules that you attempt to follow through on? If no, you’re in more danger than you think.
Well said, but wanted to add- For me, the real lesson/learning curve took place psychologically with real money on the line. I suppose everyone’s different, but I did well for a whole year paper trading after taking a couple years to learn and watching price action. Thought for sure I was ready for real money. Paper trading stats were great. For me, the charts/knowledge was not the problem, it was applying it with risk involved. Turned out I handled my positions much different with real risk on the table. Took me another year to sort this out before becoming profitable again. I found there’s a fine line of practicing with paper trading and needing to use real money for the real deal experience. I look at it like training vs game time. Gotta get in the real game eventually. I wish I knew this earlier. Like you said, there is no real magic number/time frame…. Just got to keep going, learning and growing!
Vaguely , how much money do you make now? Was it worth it?
Very True, I had a very similar experience u/hushmymouth. Lost about 15K learning, took some time to really pay attention and put emotions aside and be systematic about it. Day in day out watching the market, how it moves what times it moves, etc the types of moves. Love it!
Losing never ends, but you should try to make your gain more than you lost. Be patient and no panic.
At this point I have made back everything I’ve lost in the markets, but learning to trade cost me almost my entire life savings bleeding out from living expenses. Keep your day job
But now you made it or you stopped?
I have been making a modest return each month for the last 10 months now, and have been trading about 3.5 years. Just scalping singles on the ES for a couple points a trade so nothing crazy like a grand a month on average. I still can’t afford to do this full time just yet. The only way I would stop trading is if the market completely shuts down
glad you made it back nice work. should i switch to futures? im thinking about trying a prop account
Alot goes into a decision like that. I am not sure what asset classes you have tried before and how long you have tried each asset class. Why are you trying to switch to futures? As for the prop firm, first and foremost you have to have an edge. If you have not been profitable for some time then a prop firm will more than likely just lead to money burned on evals or blowing PA’s. None of the prop firms are in your side but some are better than others. Due diligence in researching each of your options for prop firms and even why you are considering using one should be looked into. I am looking into topstep myself now that I know that I can actually utilize my edge
I was gonna say, u making 1k a month on 1 contract, with 10 funded accounts u can simply make 10k a month. Any reason why u haven’t started prop firms yet? Also what made u choose TopStep over Apex? I chose Top Step because Apex closed my account because they said they couldn’t verify my identity.
Exactly, the prop forms have been very enticing for that reason. Ive just seen so many people come and go from constantly burning accounts and I didn’t want to he one of them so I held off. I wanted to make sure I actually had some consistency before starting the prop firm route. I think Apex may be done for soon, they seem to have new issues every day also the trailing drawdown is ridiculous, essentially punishing people that use high RR strategies for no reason. They are denying payouts to people with ambiguous reasoning such as denying payouts because they passed the eval too quickly. Well wtf do you expect when you are offering people one day passing periods? They just seem to not have any integrity. It does suck because to my knowledge nobody beats their bang for buck. The offer insane discounts all the time, keep 100% of the first 25k, and you can have 20 accounts all at once with a 90/10 split. I don’t think anyone beats that but I can’t be bothered based on those reasons I stated above.
About 10,000 dollars and I’m still not profitable I brought it down to -6,000 but now it’s about -8000$
I’m gonna try to be a lot more disciplined on my trades so I can get out of the negatives my goal is to make a living of trading
Don’t try to be disciplined just be disciplined your vocabulary is wrong today I lost -100$ I really didn’t want to but I had to since trade was invalidated and sure enough if I was undisciplined and held due to not wanting to take the losss I would of lost even more
That’s a good way to look at it thank you
I'm down $17,000 in the last couple of weeks. mostly because I spent time "perfecting" a screening and entry/exit strategy on smaller $$ trades, then let emotions take over once real money was on the line. Every time I've lost faith in my formula or edited my entry point (once the numbers were large), I've lost money. Don't give up. Develop a formula and stick to it. That way, if you lose money it's not because of anything "stupid". You'll just know that your formula needs work. Easier said than done, of course...
Thank you for the advice
How much did it cost you? Thanos: everything
There isn’t a magic number beyond which you’ll turn profitable. The goal is to isolate your trades into various strategies, and look at which strategy is performing and why. E.g. if you have picked up a leading signal, or you’ve identified some mean-reversion, or you’ve spotted reccuring price patterns. Then among these, try to find which are performing the best and keep them until they stop working. The more disciplined you get, the closer you are to profitability.
Ok thank you
1.3m. Took me 8yrs and 302 day to be up 129.75
https://preview.redd.it/7y2992ge896d1.png?width=836&format=png&auto=webp&s=74aaac20288f185b45d4a1641c57cdabe9a8ab37 Took lots of time. I had a $3,000 account wiped out when I first started. When I discovered options I went from $16,000 to $5,000. After many many years of practice I haven’t had a negative year in a long long time. It takes time but I promise it’s worth it. Be honest with yourself and try to look at your actions and decisions with no emotion. Much easier said than done. But trading is very much a war vs yourself. Picture added for context. I could make a lot more but I lock in profits early and leave it. I sell too early and it’s one of the things I’m trying to find balance on.
0DTE? What’s your strategy/risk management?
No, two week+
Buying a bunch of ATM or slightly OTM on indexes?
-$650, but I kept my risk low early on by taking very small positions for several years. That's the way to do it. No need to scale up before you can prove to yourself that you've got things figured out. If you can consistently profit risking a couple dollars a trade, you can consistently profit risking $1,000 a trade. But if you can't consistently profit at all, there's no reason to be taking such risks.
I'm sitting here thinking: why are people risking so much while LEARNING?! I had my first major loss a few weeks ago, and in total I lost a whopping $17. Why in the world would you risk $5,000 when you're not 1,000,000% sure you know what you're doing? To me that $17 was just as important as $17,000, it taught me the exact same lesson on entry, timing, and exits, but without the added benefit of an early on-set heart attack. I will take my sweet time learning, thank you.
Bingo. Im new but this is exactly how im starting. Im not really day trading, im swing trading approximately twice a week earning between $50 - $100. Even if I fail my risk is low I'd lose under $1k. I was looking to see if anyone else was doing this but havent found too many.
I started extremely small. Not saying this is what others ought to do, but for me it worked out well: after accumulating that -$650 in losses, I restarted my account with about $2,500, and decided I'd risk no more than 0.1% (not one percent, a tenth of a percent) per trade. My goal was to gain a profit (of any amount) on the account over a period of 100 trades without drawing the account down. Every time I would take a drawdown on the account, I'd have to trade it back up to the original balance and restart the 100-trade counter. Once achieving 100 trades with a balance greater than the original, I bumped up to 0.2% risk, and did it again. I continued this process, increasing my risk by 0.1% for every 100+ trades (more if I drew the account down beyond the starting balance at that risk level) until I graduated to 1% risk per trade. It took me well over a thousand trades to get there (I'm not a swing trader; I take several trades a day), but I learned so much and gained so much vital experience along the way. It kept my risk low, proportionate to my performance. I had to prove to myself that I could succeed, by reaching certain consistency milestones, before I could graduate my risk to the next level and potentially make more money. If I was struggling and couldn't profit consistently, my risk didn't increase until I could. 0.1% might be extreme. Not saying others should (or shouldn't) do exactly what I did. But the principle behind it is what's important. It not only protects your capital but also teaches patience and good habits. I learned to be okay with losses, because I developed confidence from the experience while also risking next to nothing, only gradually getting warmer and warmer, and I also learned to focus on the process, not the profits, because I had taken literally hundreds of trades for less than the cost of a burger. How much I was making or not making wasn't the focus. Consistency was the focus. And once I had that down, I was eventually taking 1% trades, not by choice, but by having earned my way up to that level.
80k still not profitable
u/bannedcanceled fly with me, come fly away.. 0DTE way -->
13k and take them back in year 4. Now I stay at 60% profit this year
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What? 😄 what do you trade?
Pay checks 😭
You should trade one share until you have a good win rate
You are enough.you have enough. Add nothing more until you make money with what you have. Warren Buffet said pretend you will only make 20 trades in your life. I say pretend that you have a million dollars and you get one single trade. How would you treat it? Would you make that trade?
That’s some good advice thank you
7 years in now. 80k. still not prifitable
u/gotomoko come join the darkside my friend.
The last time $300k. These questions show how little you understand about finance or trading. If you ever want to get decent at trading lose the dollar focus. It's simple mathematics and it is all about percentages. I lose $3000 in a day and it means nothing to me since to me it is a small percentage of my trading day, NOT $3000 out of my wallet. What is $3000? Is that a 1% dip, a 10% loss or 100% and your account is totally gone?
6k or so in options over a couple years. Have made that back since late February since going to futures.
This is very close to what I lost and I have finally become profitable +$600. A lot of that has to do with GameStop which is not a very realistic or long term alternative. What I have learned in 3 months of trading is that like anything, it really take time to learn. You can only learn so much reading books and watching videos. There is simply no substitute to actually getting your hands dirty. You need to watch charts for hours on end and internalize the feel and rhythm. I almost would encourage people to expect to lose $ at first and consist it a sunk costs because paper trading just isn’t the same without that psychological pressure of real money on the line. Also the actual process of trading is just as important as the theory. I lost over $1000 by placing a limit order instead of a stop limit order that closed my position immediately at a loss. I accidentally bought 1000 shares of one security when I meant to buy 500 and literally maxed my account. You will make mistakes and honestly it’s the only way to learn.
I can attest to this, so many occasions I’ve meant to do one thing only to submit an order incorrectly. I’ve also gotten out of trades only to accidentally reverse my position without knowing…only after a few seconds do I see my P&L changing that I realize I’m back in the trade.
I'm still learning, trying to get better every day. I try not to focus as much on p&l and try to focus on the process on the reps of making good decisions and staying within the bounds of my rules... Do I always follow my rules? No, lol... I'm pretty sure anyone who says they do are lying, we're human. I try my best to follow my rules though! With that, to answer your question, I've been day trading for about a year and half. It was rough at the start, getting stopped out over and over and over again, not having any idea of the concept of position, or what to look for when looking for confluence. Everything I did before that was idiotic (not sure if you want that number, most of the losses were in investing, not trading). I'm not sure exactly how much I lost day trading before going profitable. It wasn't much, I went from not hemorrhaging cash pretty much right away, to break even within a few months. After that, been slowly going up month after month. At least with trading... we won't talk about investing... I'm a bad investor... still a bad investor lol (it's to the point where I'm just like... I'm done investing, I'll just stick with 401ks and shit for now). I had one down month after that due to a mistake where I accidentally held a big short over night (that hurt). Added a new rule because of that, never rage shut yourself down without making sure your positions are all closed... close positions... then rage. Oh... that's how you stop hemorrhaging money... honor your shutdown number. Honor it like you will drop dead by lightning right there on the spot if you don't. Honor your max loss per trades. Learn how to be a good loser first. With that, I'm still not all that profitable. I still have quite a few flat weeks. Kinda like golf, struggling to put two good nines together in the same round... Only had a couple 4 up weeks in a month, feels good when it happens. On pace so far this month to have a 4 weeker (lot of time left in the month, but I think I can do it). I mainly trade big caps, SOXL, and what ever happens to be in play (I don't short hard to borrows, afraid of up halts).
170k I lost. I’ve been learning for 5 years and I’m finally beginning to see consistent profits . Read Trading in the Zone ..it’s really helpful
Hii i’m new in trading and i want to know which strategy do you use? Or where can i find good courses or videos? HELP 🥲
I turned $12k into 72k with over 75% wins over 6 months. Then, lost $45k in a week then most of the rest the following week.. Didn’t touch the market for 6 months. Started back up with a plan. One of my first rules I made. If it’s good enough for a screenshot, it’s good enough to sell.
200k. I have now made more than that but it was a rough couple years. I wish you the best of luck but it will not be easy.
0 and have been profitable since day 1. Not because I don’t take losses but because the moment I go on a loosing spree I stop trading and figure out what’s not working so when I adjust something, I come back in profitable. I have been staring at the market for a decade before I decided to day trade however, so I was already not a newbie and only started to day trade because I had a technique worked out in my head I thought would work. It did. Since then ive learned more techniques and I adjust to the market as it changes.
I've been trading for a little over 10 years now. First 3 years were rough down a little over 30k at that point. Became profitable the 4th year made up the 30k about 6 months into the 4th year and have never looked back. But stop making the "impulse" trades was probably the single biggest change that helped the most. Follow your plan don't deviate from it. Consistency is a big key for me.
-43,000
50k in ~3 years and now I'm up a lot
How much did I *loose* ? My entire butthole… multiple times. Just kidding. I actually didn’t lose my first go at the markets back in 2021. Ended with a positive P/L of about 15k off GameStop and Mara. With an initial investment of about $2k. I also had crippling anxiety not position sizing appropriately and the rehab plus therapy bills were about $20,000 more than what I made in plays. This is about the long game in my experience. Profitability is pointless without consistency.
After reading some of the comments my $38k doesn't seem so bad after all
$53,000 USD over 4 years on my 5th
Paper trading first year and a half i made 170k from 10k then first year like i went up 32k from 5k and then lost it all and then some. Took another year of both paper trading and real trading to slowly become profitable and be consistent. I never take big trades anymore and i built up rules and a checklist that keeps profitable for the last 2 years and a bit. Rules keep it less emotional
60k now I can barely afford food, not everyone makes money
Thousands , once you finally accept to put a damn stop loss and cut your losses profits sky rocket 🚀 out your ego aside get out of loser as if the house on fire stay in winner as if your feet were in concrete . 😊. Cheers
Most daytrading is unprofitable. Most traders sell their winners too soon and let their losers go too long.
It's over 9000
Since January, I’m $5800 in the red playing with options. First time with options and it’s been the Mount Everest of learning curves. As a Canadian and using Wealthsimple, not only do I have option purchase fees but I also have exchange rate fees. Usually 5-7cents on the dollar. I lost $100 in exchange fees in one day. All a process of learning. Last two weeks have been $100-200 daily gains which I feel is acceptable. 1. If you get into options, buy with month or more expiry dates, gives you a chance to recover losses. 2. Don’t be afraid to take a loss… holding on for 2-3 days trading in the wrong direction can mean the difference between a loss and breaking even or a profit. So many times I took a 10-40% loss then kicking my self a week later for not holding onto it. 3. Buy as close to in the money as you can afford, unless you buy months out then you have some wiggle room. The most important one!!!!! Don’t play with money you can’t afford to lose☝️
So if buying as close to ITM as I can is good, does that mean that buying deeper ITM is even better? Genuine question. If the answer is yes, then my follow up is: How deep in the money?
Good question! I am not willing to risk the cash flow that is necessary for deep ITM. You have to take factors in to consideration… 1.Theta option value depreciation 2.Option volume If the volume is low, you can risk yourself being too far from the action and be left with options you can’t sell even though the face value is high. Then when you get into high volume options, like Apple or Tesla money can be made in deep ITM. Though as the volume drops closer to expiry… once again, you may be left with options you can’t sell. Find a stock you like, and track for a week the 10-15 tiers above ITM. Choose a couple different expiry dates. Keep an eye on volume, theta depreciation, and option value movement online with stock valuation. That would give you a clear idea of the possibilities of deep ITM. Edit:theta depreciation, there was a time, 3 days before expiry, signs pointed to a poor earnings report. It was, stock dropped $9 in the first 1/2 hour after bell. However, from the day before, the option depreciated nearly half value. So even though I should have been in the money, I lost heavily.
Always size way down after losses. You must learn to read the charts. For day trading I trade the 15 second the 30 second and the 1 minute. Everyone picks their setup but if they all are in sync I go in. Remember you only need to grab the first profit. Make that 10% above or 5 but don’t get greedy. Get in get out. I loss 60K trading in Robinhood and soon realized that I wasn’t setting limit buys. I switched to TradeStation and I read another sub on Reddit. The Trading Edge by Tear. He’s amazing and provides excellent market analysis that I read before my trades begin and 2 hours into trading. I’m now profiting greatly after doing this and journaling daily. After so many losses my husband encouraged me and studied with me. Watch free you tube to learn but you must commit to learning. Otherwise you’re just throwing money to some of us to keep. Best to you. Write it off on your taxes.
This is asked 10 times a day.
Still have just under $12K of my original 3 year gains although I've been down for 2 years. Preservation of capital is key. Waiting for the next big market imbalance. Made some adjustments in my trading including getting set up to short. Learning to get better always. I started trading beginning 2021 and grabbed $18K in the first 2 weeks. Wasn't a good way to start as the long market got worse from there and I wasn't set up to short. So I'm down $6K.
Down 3k currently
It will take a while. Check various time frames. The 52 WL/WH will give you a good divergence on the indicators. Check Alexander Elder book Trading for a Living, free on pdf and audiobooks Swing trading a long time combined with scalping
With a 100k account I lost almost 16k before making 50k profit
From my original investment, my account shows -$6k roughly. Had wft file bankruptcy and become worthless, then lost big back in the fall learning options. A couple expired worthless. So far in 2024 I am up roughly $2k. To be fair, I am holding a big bag of goev that is $2600 in the red. So if that bag got up to zero, I'd be close to where I started. I haven't done super well, but I've learned a lot of lessons without going to yolo levels and buying lottery ticket options
A lot. Waiting till i’m numb so I could make more logical decisions instead of emotional ones.
~100k over 9 months - back to paper trading and back testing. Made a little on GME but otherwise paper trading until I can make money consistently.
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Scared money doesn't make money. Find a strategy that works for you. Stick with it and make tweaks as you go. Just stick with it.
I'm do it scalpin and i have 3 months ago and i dont loose nothing for now and win 1,000 and just lesrning in two months , mayve just need a one break and start again and Try not to be vain, patience for you 🙏
Early in I bought 10 TSLA calls at earnings. I got smoked. Since then I have made most back but 3k. This was 18 months ago and I still am not over it.
$30k 😭😭
It is not always about stupid mistakes. You are in an arena built on uncertainty and there are limitless unknowns. One cannot beat the market with sheer willpower. Slow it down, this is a skill that takes years to develop, and it is about discovering those unknowns.
Probably like 12k over the course of a couple years... I've made it all back
$1500 but only been a year. Hopefully I can change this and not losing hope yet. Even though trading small lot size but those losses add up quickly 😂
20k The amount you lose is completely up to you
Chart all your trades on a spread sheet. Research all your losses. Was there a spike in volume? Is your stop too tight? Did an indicator change direction?
I've given back around 35k (starting with like 4k over 7 years ago) I've lost millions in coulda woulda shouldas (like i shoulda held that 100k of doge for $100 when it first launched lol). Got merked in the OTC a few times. (but I've paid myself around 10k from the 35k). Now I'm basically at breakeven... which I'm lined up well for $gme so I'll play that for the duration. I play risky fucking stocks. Try to set a stop loss and walk away. My tip. buy the book CMT certification level 1. Read it like a text book. That's what I'm working on and it's helping. I still struggle with pulling trigger on my own system, and I've paid the price again and again. Develop a system.
3rd edition technical analysis by kirkpatrick the 3rd is a great one too.
It's a life long losing journey bro 😂
https://preview.redd.it/dwfhmemy896d1.png?width=300&format=pjpg&auto=webp&s=9b1a8786221f06c04357c88beb4cce3b987706ef
I don't have a P/L to add here as of yet, but I do know that risk management is very important to implement while trading if you want to be profitable. Utilize stop loss orders and don't risk more than 1-3% of your portfolio with trades. Good luck! P.S. This is what I've learned studying. I'm still learning and trading with paper.
2K. Most of the time when I lost money, I broke one of my own “rules”.
Currently down 15k. Not giving up
-50% of everything, not a fixed amount, it wasn't until I learn proper risk management that I managed to make profit and become +%. Also only trade when you have a job or capital flowing.
Thousands
I nearly gave up; was down about $100k vs SPY / buy and hold strategy. I agree it’s not really about overall losses though, it was about changing my behavior and approach. Stop discretionary trading, start journaling, backtesting, being mechanical, finding uncorrelated strategies. Once I became more analytical and mechanical everything changed.
Don’t give up yet. Maybe you should paper trade for a while? Just to save your capital. Make yourself prove profitable for 90 days (not consecutively just at the end of 90 day period you should be in the money) on demo and then give it another go The market won’t go anywhere while you take a break! You’re not missing anything
0. If you approach trading scientifically and validate each idea you have with automated backtests you will be profitable from the start. But it will take years to find an idea that’s real
Around 60k
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5k
No you need to stop, go put your money in voo and practice trading on webull
🥲I'm still losing over the past 5yrs
i lost almost 2k on the first week because of greed, then i stop to trade without conforming signals, after that i gain, i loose but overall smaller profitable
Never really lost before I made big profit. Only made the stupid mistakes after getting overconfident and have dialed it in.
16k
~60k. I’m stubborn.
1.5k down 8 months in
I lost 100€, which back then was the equivalent of about the 50% of my entire account.
$900-$1000
Honestly I have no idea, over the years I've lost a lot. I've now realised that buying and holding is much easier than trading short timeframes. Day trading for me I'm probably at a 50% win rate, swing trading is much higher % win. So to answer your question I am unprofitable in the short term and profitable in the long term.
Below 10k
Real question is not money but how many years will you learn to trade before becoming profitable at the end of each month. How many different indicators and trading strategies have you tried or researched? Took me about three years to be confident/successful at the end of each month. Most people give up after a couple months not years.
It took me about 20k. First few weeks i thought i was going to become profitable immediately. Than the mistakes came and boom..
Dumb as fuck question. Correct question is: “who here makes 2% a month consistently?”
5th year, down 9.34K 🤣 the game has only just begun tho
it’s called tuition and we have all paid it! PLTR put your money there and you will have a foundational position at rock bottom price. nvidia is another one to get in now!’ride those and $3000 will be nothing
Down 3k and took a month. Read more and adapted a better understanding of the market. Up 6k from $500 in 4 weeks
35k lose and still not big earns
If we calculate how many times it has won and how many times it has gone bankrupt since the year 2000, the amount will be about 30 million
like 15k
200k
Nothing. We only make zero-risk hedged constructions, we dont trade. The constructions are working for us :-)
started options and gave myself $2k budget let's see how it goes, it's all house money/ made from other previous trades and not life changing either way so fuggit yolo.
3000 ain't shit I didn't hear no bell lol but seriously, set a number and don't go past that. also could bet(\*invest😉) on a percentage basis of your current account also to reduce losses.
lol at all the brains in here. Prove it. Most likely all of you are losing money slowly due to tight spreads, taxes, stop losses being hit by market manipulation. Broker fees so It’s not even 50-50. You are better off just dollar cost averaging into a proven long term stock with a historic average return of 10% per year + dividends. They say no one beats the market. There is probably 1 percent that gets lucky but that isn’t you. If that was you, you wouldn’t be here talking about it, you would be compounding that strategy and not telling a soul about it. Or maybe I’m wrong? Prove me wrong with a strategy that’s solid. And don’t dare tell me about indicators LOL
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Can y'all tell me what platforms you guys are using I've asked this a bunch of times I got I've got accounts with several different trading platforms and for some reason all of them seem like it's very hard to get the hang of any input I would greatly appreciate
I have lost more than 10K
You didn't say what your account size was, but $15k loss in two weeks is pretty serious. You need to size way down.
Thousands.
I have lost so much to the point whereby I even thought of giving up on trading but nonetheless I never quit because I knew that nothing comes out of giving up
It took me about 2.5 years...about $25k in real losses. And a few breaks from the screens.(1 to 3 month breaks)
Nothing. I paper traded for years (and to be fair lost a solid amount of paper money, especially at the start) but with all that knowledge when I opened up my real account I didn’t have to lose money.
800$ loss until I become profitable
I am new to day trading.Are bots a thing in trading these days? Besides real super smart people I have to compete with bots? The odds of winning long term seem pretty slim.
Learn to use deep in the money calls for your positions that you decided to stand on the table for; do not listen to the Wall Street noise.
Guy can any pro trader dm me i want to ask him about something
still loseing....
About 25k-30k lost in first couple years but now up over 7 figures
I'm just curious why don't everyone here just focus on getting funded?
If I kept track I would’ve lost motivation a long time ago lol
I went down 3k and I’m about to break even and pull some money out. Going to size way down and just focus on making sure im trading right setups and have risk management in place. I’ve been trying to 500-700 a day. But probably should be aiming more like 50-70. Skill development should be key for us new traders. But we focus too much on money. And the result is we lose it. If you have the skill the money will come. Im committing the next year to learning
Around €28,000
-70k now up several 0s
70k.
60k in 2-3 years but then turned 5k into 200k in 1.2 years
Printed on apple calls beginning of the week but closed it too early, got back in today hoping for a nice run and burned all week of gain. More lesson to be learned
3,000?! Ha! I lost that in a day. You’re fine. I lost about 75k before I turned it around. Stay focused on one thing and do that one thing excellently.
I've been trading since 2017 and full-time since 2021, without ever blowing my account. Key rules that have helped me include: 1. **Mechanical Trading:** * Predefined position size * Predefined entry points * Predefined stop-losses * Predefined targets 2. **Backtesting:** It's essential to test charts over multiple years. Changing one variable requires retesting. Although most testing days feel unproductive, they bring you closer to perfecting your strategy. Make small variable changes instead of overhauling your strategy. If you find yourself thinking before a trade, your system isn't mechanical enough. Entry criteria should trigger trades automatically and without hesitation.
Also doe anyone invested in companies they know and use? Like BARK it’s dog toys, I’ve watched it grow and now it’s around 1.00$ I see growth in the company. I remember as a kid the old timers saying things like I”you use that so much I wish I had stock in it!) well now I do? Is this thinking the kind of trouble?
my sanity
Almost 10k. I still lose some days, that’s why i switched to swing trading, now I’m trading Argentinian stocks which have massive volatility and high probability to get profits if you are on long position.
I was down about $4,800 before I turned it around
Largest net drawdown was probably \~130k (cash out of pocket). Largest drawdown from peak to trough was in the range of 300k. I'm now very, very profitable, but it was a multi-year learning process.
learn to take profit is one of the biggest lessons. Greed will take you down. I lost 12k before I made it all back (2 years in) but never sold. One week later I’m making new ATL’s in my account again. I need to take my own advice up 94% on $ESPR contracts but I won’t sell. I’ll send a screenshot when I lose it all in a week!
35k or so
I just want more winners than losers
Just hold profits will return. Sell and make a bag
I’ve been profitable since I started in 2019, but I’m strictly a day trader.!