Switching from "House money" to my own money

K

KILLINIT

I am a trader with two years of experience, never had a down gross month.

In a few days i'll be switching from trading my firm's money to trading my own money remotely. I have found it hard to be profitable with my firms high ticket costs and split. I also find that I don't trade within my ability when trading someone else's money. Instead of trying to make $500 to $1500 a day, I push too hard, and as a result, trade too many tickets and put on too many stupid positions.

I wanted to know if anyone had any advice for trading on my own, especially if you have made the switch yourself. I would appreciate any input.
 
how did this firm hire you in the first place with no experience ?

was this trading mostly long only since 2002, or 2003 ?
 
hi ... well you sure have the right killer
$%^&* attitude ... for daytrading
how many keyboards have you broken ?

good luck to you

:p
 
yes that is correct i have never been down gross month since i've started trading...... I only said this because I was wanted to know if anyone had the same situation and has made the transition from trading someone else's money to their money.......it's not arrogant if its true

helpful replies only please
 
This is helpful:

If you're switching from trading in an office full of guys, to trading at home in solitude... that can be very psychologically unhealthy, reduces profits, and makes watching the market all day more far difficult.
 
How do you feel about trading your own money? I just started, and I like it a lot, I am more disciplined, and appreciate profits more.

Jason
 
Don't worry about the haters killin it. Alot of people believe if they can't do something then its not true. There is a guy at my firm who up until recent hadnt had a gross down DAY in a year (and he does make good money). Personally, I wish this wasn't true because lord knows I've had quite a few down days in the last year. Also, the no gross down months is not only possible but fairly common for good scalper traders. I havent had a gross down month since my first 3 months trading. Good luck

"Just Win Baby" - Al Davis
 
Finally some helpful advice.....Actually my buddy and i are going to be trading out of the same place, so i think this will help as far as the difficulty of trading in solitude.

I'm looking foward to trading my own capital, knowing that I will be keeping 100% of my profits and also being responsible for 100% of losses (increases discipline)
 
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