I must admit, I did lose money trading futures, you can't run from the truth, so after saying that, I'd like to talk about it a little bit..
I think that trading the US Futures markets, YM (Dow jones) and NQ (Nasdaq) is really like basic training in the army, and I served in the Israeli army so I should know what they say there, they say "Hard in training, easy in battle", and I think that trading the US Futures markets was really hard training, I'm not saying that it's going to be "easy in battle" when I'll trade stocks, but I think that losing this amount of money, knowing I won't get it back, controling my emotions when I lost sometimes, and mostly just doing foolish mistakes, got me better prepared for trading stocks :)
So what's next? I haven't lost faith, I still think I can do this, I have the belief that I can trade the stock market and make money, so I'm going to Day trade US stocks.
The evolution went from Swing trading profitably US stocks, to day trading US futures since I didn't came to the 25K$ criteria of the pattern day trader, to now, day trading US stock market with starting amount of 6K$, under LLC firm so I could day trade with less than 25K$ (which I currently don't have).
I'm currently in the process of learning a lot, I have set my LLC account last week, but still haven't made a single trade, not even a test of the new broker, I'm reading all of the methods, trying to see what trading style suits best, I've grown up from being impulsive and "just put on trades and pray", to wait for until I learn as much as I can, and only after doing such a research, putting on a trade, and not even hoping for it to be successful, in the perfect world I would like every trade I make to be profitable, but in the trading business one must know that he is in the business of making money, but in the trading business there is never 100% profits, and I think that having "the beginner's luck" might make me over confident and cause me to lose money..
I'll update about the method that I think that is most suited to me in the next few days, and hopefully have a better third time trading (swing, futures, now stocks). :)
Wish me all luck, and I hope you guys are doing great yourself.
Tomer
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2 comments:
Whats a LCC account,do they allow u to day trade uder 25k?ty
robin
LLC account is an account sponsored by proprietary firm, mostly you trade with their money, but only once you've proven that you are able to trade well, if you are a complete beginner they won't open you an account, here is a list of proprietary firms:
http://www.tradersnarrative.com/list-of-proprietary-trading-firms-735.html
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