Back to paper trading

[justinstrommer9 18]

Hey BBT!

Sorry this was longer than expected.... 

I posted a couple recap videos under Justin S.  It was so much fun trading live, but I’m going back to paper trading.  I lost 500k on AMD today. Haha just kidding 😂😂😂. The truth is I’m just not profitable enough. I’m doing something wrong. I’m working on it. Need to get better at getting into the right trades.  Let me say though, I managed my risk like a rockstar and never went over my max loss on a trade or on the day. That is a skill I must pat myself on the back for. There are many areas a day trader must work on, so identify your weakness’ to improve, but also recognize what you are doing good at.   My small losses were adding up and I don’t want to dig myself too deep so I’m taking a step back to re evaluate.  Sometimes it feels like going in circles, getting frustrated, but if you look back from where you first started we all have come a long way. Just a year ago I didint know what a candlestick even was 😂👍🤟!   I am a stay at home dad and was hoping to be profitable sooner, but I will paper trade until I start growing consistently. There is no rush because It’s very important that I protect my trading capital and am holding it in Wealthfront account to slowly grow while I figure out how to be successful at trading. 

While trading live I focused on ABCD pattern. Some small wins and losses. I did have one perfect trade on MU that went right to my target. It was the perfect trade. I just was not finding that successful trade enough. Many pullbacks pushed up only a little just to reverse and not make a new high.  

I’m doing a lot of experimentation to do what makes sense for me. I’m even trying to trade without moving averages and vwap just so I can focus on the price and the levels it’s supporting at. Is that crazy? Maybe. I think these are things many traders go through to find there niche. 

I’m just happy that Andrew offers a lifetime membership so I can afford to stay with the community through the ups and downs. This is rare. Lots of people only offer monthly subscriptions. Andrew is a true stand up guy for what he does for his students and I really appreciate it.  I knew I’d be in this for the long run so how ever many years it takes it’s good to know I have this community. Everybody’s recaps and struggles remind me to keep pushing forward. Even Andrew had to go back to paper trading at one time. Crazy!  I hope one day I can post more recap videos, be consistently profitable, help other traders and go to a meetup to meet the BBT.  

[justinstrommer9 18]

On another note: my chatroom name use to be “the hulk” but I changed it to Justin S. Just in case your wondering what happened to that hulk guy haha. 

[Aiman 86]

Hi Justin!

I just want to tell you that everything you're going through is normal. It's not something only you've faced. We all go through ups and downs, do something good, and some stuff bad. I'm happy you know what your strengths are and what your weaknesses are. Knowing your weaknesses is the first step to overcoming them! Take as much time as you need in simulator till you get your confidence back! 

Just remember that we  are all here for each other, we're all day traders and we can understand what you're going through! I'm really proud of you deciding to share your obstacles with us!

If we can do anything to help, if you have any questions you wanna ask, just ask without hesitation!

And For your last point, I totally agree, the lifetime membership is a bonus itself, I switched to lifetime membership the first month and I've been in the community for over a year now!

If you need any help just e-mail me at [email protected]

I'll be happy to help!

[justinstrommer9 18]

@Aiman Almansoori thank you, I will definitely reach out if needed.  Keep up the good trading.  I really enjoy your trading recaps.

[Aiman 86]

On 8/26/2019 at 3:49 AM, justinstrommer9 said:

@Aiman Almansoori thank you, I will definitely reach out if needed.  Keep up the good trading.  I really enjoy your trading recaps.

Thank you Justin!

[Carlos M. 232]

Justin this is a strong move and decision that you should be very proud of. Sometimes traders keep pushing it and end up hurting their capital. The market is not going anywhere no time soon (there are some people that think is going to banish and it will just be all computers, I hope they are wrong.) you can come back when you are ready. 

Is amazing what a going back to sim or taking some time off can do to your state of mind. This can be a good time to reset and review what you can do better when you get back. Learn from the mistakes and put measures in place to improve them. You also have a taste of what is like trading live, which will make it easier to transition back to live in the future when you return. 

Wish you all the best and let us know if there is anything we can do to help. Thanks!

[WilliamH 67]

Hi Justin! Everything I wanted to say has already been said above. You should just know you're making the right decision! Better moving to simulator to get the confidence back rather than blowing your account totally. You don't need to make money immediately. Just take your time practicing the setups you like till you become consistent, eventually you can come back and try it live again!

[justinstrommer9 18]

Thank you all for the responses and feedback!!! Thanks for all the help and I’ll see you in the chat room! 

[Magna 31]

That joke on AMD totally got me haha