Okay. Another one of these threads??? You've seen this movie a hundred times. You know how it ends. The good guy gets shot dead, the screen goes to black and everyone goes home crying. Right? Not this time.
So I've been investing for quite some time. I am knowledgeable in options. I well versed in trading stocks. Now it's time to dip my toe into the Pacific Ocean. More specifically, I'll be diving into the Mariana Trench or the Futures Market as it's known.
I wanted to throw some money into this account to see how the futures markets work. To see what I'm up against and mainly To determine if I should add more funds into the ring in which professional boxers have the ability to knock me out in a given moment.
I decided that $5,000CAD would be a good start. But then I thought, what happens if I do something stupid? So I decided to start smaller and depending on how things go I'd have more money to deploy. $1,000CAD would be my initial seed money. After foreign exchange and wire fees from the banks, I was left with $648.00USD to play with. That's not a lot. In fact, most people would say I'm wasting my time. To them I would say, "You're right. I am wasting my time." and just ignore their comments and move on.
Now that the money was deposited, I decided to set a very lofty stretch goal. LET'S DOUBLE THIS ACCOUNT! Not in a "Let's put all the money on black" type of goal, but more of a "Okay, lets really try use to leverage to make some serious returns".
Fast forward two weeks, here is where I sit:
Some would say that I was off to a really bad start. Not me. I'd say I was off to a great start.
I learned really really quickly that this market is like Clint Eastwood. It will shoot you down before you realize the gun battle has begun. It moves fast, it's relentless and it's unforgiving.
It took me five days to hit the low watermark on the account. During those five days, I over traded. At it's peak, on April 27th, I made 58 trades sinking the account down to a low of $187.21. 58 trades?!?!?!? The only people making money were the broker, the CME and the smart people who took the other side of my trades.
Throughout this whole process to then, I've been visiting this site (and the other one) reading journals and trying to learn.
The first thing I did on April 28th was get smaller with my trades. I also decided to trade less. What I was doing previously was obviously not working. It was also going to guarantee the need for me to refund this account a second time. And on the 28th, the Gods and Deities of the market looked own upon me and smiled. I was back in the game. The account was at $550.37..... but was I really ready?
I started to slip back into my old ways (were they really old ways? I just started!). I was over trading and buying selling way too many contracts at a time.
Okay.... I may seem like a mule, but if you beat me I will learn. I made some rules about trading. I implemented stop losses (and stop gains). And because of these rules, I've been "flattening the curve" with respect to the losses. In fact, today we ticked up!
Now some of you are betting on me failing. Good. Some of you are rooting for me. That's good too. But at the end of the day, I'm using this thread as a way to learn, to grow, and to develop.
If you made it this far, well you must have a lot of time on your hands. But hey, seeing that you're down here with me and have some time, shout it out with me. Little Orange Line! Little Orange Line! Turn Up!
See you tomorrow.
So I've been investing for quite some time. I am knowledgeable in options. I well versed in trading stocks. Now it's time to dip my toe into the Pacific Ocean. More specifically, I'll be diving into the Mariana Trench or the Futures Market as it's known.
I wanted to throw some money into this account to see how the futures markets work. To see what I'm up against and mainly To determine if I should add more funds into the ring in which professional boxers have the ability to knock me out in a given moment.
I decided that $5,000CAD would be a good start. But then I thought, what happens if I do something stupid? So I decided to start smaller and depending on how things go I'd have more money to deploy. $1,000CAD would be my initial seed money. After foreign exchange and wire fees from the banks, I was left with $648.00USD to play with. That's not a lot. In fact, most people would say I'm wasting my time. To them I would say, "You're right. I am wasting my time." and just ignore their comments and move on.
Now that the money was deposited, I decided to set a very lofty stretch goal. LET'S DOUBLE THIS ACCOUNT! Not in a "Let's put all the money on black" type of goal, but more of a "Okay, lets really try use to leverage to make some serious returns".
Fast forward two weeks, here is where I sit:
Some would say that I was off to a really bad start. Not me. I'd say I was off to a great start.
I learned really really quickly that this market is like Clint Eastwood. It will shoot you down before you realize the gun battle has begun. It moves fast, it's relentless and it's unforgiving.
It took me five days to hit the low watermark on the account. During those five days, I over traded. At it's peak, on April 27th, I made 58 trades sinking the account down to a low of $187.21. 58 trades?!?!?!? The only people making money were the broker, the CME and the smart people who took the other side of my trades.
Throughout this whole process to then, I've been visiting this site (and the other one) reading journals and trying to learn.
The first thing I did on April 28th was get smaller with my trades. I also decided to trade less. What I was doing previously was obviously not working. It was also going to guarantee the need for me to refund this account a second time. And on the 28th, the Gods and Deities of the market looked own upon me and smiled. I was back in the game. The account was at $550.37..... but was I really ready?
I started to slip back into my old ways (were they really old ways? I just started!). I was over trading and buying selling way too many contracts at a time.
Okay.... I may seem like a mule, but if you beat me I will learn. I made some rules about trading. I implemented stop losses (and stop gains). And because of these rules, I've been "flattening the curve" with respect to the losses. In fact, today we ticked up!
Now some of you are betting on me failing. Good. Some of you are rooting for me. That's good too. But at the end of the day, I'm using this thread as a way to learn, to grow, and to develop.
If you made it this far, well you must have a lot of time on your hands. But hey, seeing that you're down here with me and have some time, shout it out with me. Little Orange Line! Little Orange Line! Turn Up!
See you tomorrow.
