Motivating to continue in this game.
How did you feel with your first +$1000 day in trading profits?
- Thread starter Evermore2017
- Start date
As a new day trader, unless you got lucky, your first big winning day is likely to come after a long period of net losses, i.e you are still deeply 'in the hole' when you get your first $1000 day.
That was the case with me, so it didn't mean much.
On the other hand when your equity is breaking out to new highs and you are making $10,000+ a week, that is always a good feeling.
But every good winning streaks eventually come to an end and then it is back to the grind: a sideways account equity curve if you are lucky, downwards if not, until the next winning streak begins
That was the case with me, so it didn't mean much.
On the other hand when your equity is breaking out to new highs and you are making $10,000+ a week, that is always a good feeling.
But every good winning streaks eventually come to an end and then it is back to the grind: a sideways account equity curve if you are lucky, downwards if not, until the next winning streak begins
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Nothing, maybe a smile, but once I had 100% over my initial futures account/stake.. amazing.
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not had one yet, but I felt pretty sick after my first $1000 losing day! lol
1000$ in one day is nice, but it's not that important.
You might win 1000$ one day and lose 5000$ the next one.
Your P&L over a year is something more important.
Moreover, if for the first time you do 1000$ in a day, you might want to plan for a loss soon.
If you do an average of 1000$/day, then that's something different (and more grateful).
You might win 1000$ one day and lose 5000$ the next one.
Your P&L over a year is something more important.
Moreover, if for the first time you do 1000$ in a day, you might want to plan for a loss soon.
If you do an average of 1000$/day, then that's something different (and more grateful).
+1
Motivating yes. No bearing, not a thought whatsoever about "continuing in this game". And as a daytrader, $1000 bucks is not necessarily anything to crow about or pat yourself on the back, especially in the current market environment with more historically normal volatility.
+1
Trading well has nothing to do with "streaks" or "luck". Trading well means following the plan and the rules that you've created for yourself. If your plan or rules is dependent upon a "streak" or "luck" to generate profits, well, you will lose. OTOH, if your plan and your rules are not robust enough to profitably exploit many types of market conditions and environments, gravitating to a streak or luck mentality could be a very simple excuse.
Plan for a loss? Good luck with that, you will need it. The possibility of a non-profitable day is ever present, but it is NEVER the plan for the day!
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How about not losing $1000 in a day? I made $100 in one trade today. If I would held it I would have been down $1000 instead. So did I really made $1100 or $100 in that trade?
You made $100 - minus the money you would have made working a non-trading job.
What if I work (non trading job) and trade at the same time?