GoodPunk6's Trading Journal

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Sorry to see you go Goodpunk. I definitely suggest going the career route, working for "the man" can have great benefits, both short and long term. We're probably both of similar age (low/mid-20s). I was getting tired with what I did as a career a year ago and was very tempted to try out prop, even as little as 5 months ago I wanted to stop by HLV, I actually owe thanks to YOUR trading journal for keeping me away (I don't mean to bash them, but they obviously cut the cord when your loss streak started to outweigh the giant commissions they were banking from you, that's not the type of shop I would ever consider working for).

So instead I changed my attitude and concentrated 110% on the career. Now I'm doing what I want to do, making what my parents make combined, and on my way to an employer-sponsored MBA. In 2.5 years out of college I've seen my income grow exponentially. It's a fast market, if you have the drive, anything can happen. And you can still find time to trade on the side.

I'd recommend getting the skills down on your resume, you can still trade and make a decent salary if you're lucky/smart enough to land a jr. level position at a hedge or Wall St firm.

I'd say invest full-time in a career, change your trading style to just part-time swing-tading, take the $4300 you have left and put it in freetrade.com. They're run by Ameritrade so they're pretty reliable, 20 free trades a month I believe, every month. Just no phone support and no fancy java applets, everything you do on your own. Trades are only $2 or $3 if you go over 20/month. Swing trading and T/A are easier to grasp than intraday size trades for penny swings, unless you have a proven system/edge, which can take YEARS. Start learning the ropes on basic T/A and short term swing trading. Here's a decent column on T/A which is free on Tuesdays, I've made some great trades with his advice:

http://www.marketwatch.com/news/new...scid=3&siteid=mktw&dist=mktwmore&cbsReferrer=

Good luck with your endeavors!
 
Wow, that's too bad.

Not a happy ending. This kid got used by his firm and was too stubborn to listen to all you guys, so I don't feel too bad for him. It still sucks to see this happen to anybody, makes HLV look pretty bad as well.
 
The guy had a good attitude that's all I can say. Never talked shit or blamed. He may have been misled but, losing and losing big when your young is the best thing that can happen. Better to blowout at age 25 and learn all the important life lessons such an experience can bring at that age than to have that experience at age 45.
 
I enjoyed your journal and honesty. Some traders fail to explain the hard times and learning process and would rather brag about all the money they allegedly make.

I trade part-time and have a full time job. I get up early and trade pre-market and the first hour of the open. It's taken a lot of trial and error, but each year I have improved. Find a system you are comfortable with and keep trading part time for a hobby, extra income or retirement. Best of luck.
 
Quote from zoner989131:

I enjoyed your journal and honesty. Some traders fail to explain the hard times and learning process and would rather brag about all the money they allegedly make.

I trade part-time and have a full time job. I get up early and trade pre-market and the first hour of the open. It's taken a lot of trial and error, but each year I have improved. Find a system you are comfortable with and keep trading part time for a hobby, extra income or retirement. Best of luck.
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Congratulations. I traded part time while holding down a second shift job for four years. It can be done. Hang in there.
 
Personally I knew how this journal would end after reading the first page. I have nothing against goodpunk, and not trying to be an asshole. I knew because, I've seen too many journals like that on ET. After reading the first page, it was clear that the guy is stabbing in the dark, does not have a plan, does not have a tested setup, does not have an edge.
 
You know.. come to think of it.. You're right. Maybe tradersaavy is the exception but he had the divergence setup worked out before he started the jorunal. nopmplease was another success story but again, he had a method together before he started the journal i think.
 
Good Afternoon!!!

Well, it's been sometime since my last post. I've gotten some finances in order and others still need work. It is simply a matter of time before I can get back into trading. But I think that I will ease back into it by swing trading.

I figured swing trading would quench my thirst for a trade while I am working a full time job. I'll start looking for a book on it after I'm done with this post (Can anyone recommend a good one?) so I can begin developing a strategy that will yeild consistent results.

Although I believe that I still don't have the necessary funds to trade with. I'm sure that by the end of the summer I'll have enough to start up again.

Well, I've been working for a bank as a Small Business Banker. I've been selling the bank's products for a little over a month and I hate it! I think I'm going to move onto real estate. I've just been offered a salaried position at a real estate company and the offer is too good to refuse. But we'll see......

Either way, I haven't forgotten anyone. Enjoy your summer!
 
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