My Journey as Day Trader

Today marks the end of the first week of 2021. Even though I have been trading since June 2020, one of the thing’s I had wanted to do for myself, and also for other traders out there who want to enter this lucrative, and down-right scary field, is journal and share my experience online. I am not writing this to talk about my successes, and say “oh, I went through huge losses, but look at me now.” I am still very much in the trenches, figuring out day to day as I aim for consistency, and turning day trading into my career. As of now, I don’t even know if this post will be public or not — it’s to create the one thing that has kept me afloat even through the losses, community.

How I Got Into Trading

Growing up, I have always had a strong interest in financial markets, and was looking to enter college in some kind of finance-related field. Life definitely did not go that way, and I ended up majoring in Computer Science, and while I flourished, I did not find passion in it. At the end of my degree, I came back to my interest in stock markets and wanted to start trading more aggressively as a side hobby, but soon found something that I knew I wanted to make into a career. In order to go about this “properly” I enrolled in a class, and instantly felt the huge wave of imposter syndrome, hit with a string of losses. I was still in college, and every dollar mattered. Normally, I wouldn’t care about money, but in trading the reality is if you are a good trader you are profitable (this is a way bigger topic). So starting June 2020, and till end of 2020, I funded 3 accounts, and wiped them out completely, and around December I felt completely in despair. My mind filled with questions like — “am I good enough?” “is trading for me?” “maybe I should go back to looking for jobs?”

So what stopped me from quitting? I know yall are going to be skeptical, but I asked myself how much I wanted this. Why do I want to be a trader? How can I be a great trader? What is stopping me? The thing that attracted me to trading is the challenge, and that to be a good trader you need to focus on being a better and best version of YOURSELF. Trading is the one place where it truly comes to your drive, and personal insight.

So if I knew how challenging it was going to be, why am I running away when it is doing exactly what I knew it was going to — exactly why I wanted to pursue this.

Tips as you start trading

Honestly, I questioned my insight as I didn’t have a million dollars to show you that I am a great trader, but one of the things I read in “The Disciplined Trader” is that a lot of the times, you either make it or break it in trading. Those who make it go through so much hard work in figuring out how to gain success, and by the time they reach it, they have forgotten the past, and the tiny struggles. That’s why I am here. I am still growing, but I want to note and mention the things that have helped me as a beginner and as I excel.

So, here are my tips for all traders that are starting out:

Trading is 10% technical, and 90% psychological.

I wish I could tell you the number of times my mentors have said this, and each time I heard, but I never actually HEARD. The thing with trading is the answers don’t matter until you go through the rough of it. So as you start entering this journey, and no matter where you are — how much can you handle the discomfort? Trading has forced me to come to terms about so much in the way I live my life, as if you have psychological weaknesses, you won’t be able to excel. Trading will force you to come face to face with your own weaknesses, so be ready to have to deal with them.

The Power of Community

So, we all speak of the lows, but what do we do when we hit those lows? Your family and friends might think you are gambling your money away, you are questioning your skills, and well probably feel alone. THIS is where community comes in. Of everything, the one thing that kept me bouncing back is the people I have found in various trading community. Trading as big as it is, is a lonely endeavor, so make sure you find people that can relate to your struggles, and people to talk to during your highs and lows. There are tons of discord servers out there, ran by profitable traders, so please do your research, but also invest in yourself!

Discipline

Ok, this is where I struggled a lot, so when I say this I mean it. If I could tell you the amount of times I entered bad trades, and went against my rules just because trading looked like “easy money.” Ask yourself your trading rules, when you will enter, when you will exit, etc. and let this dictate your trading. DO NOT just enter and trade because you THINK a stock is going to do something, because you will get burned out. Some good resources here are books like Trading in the Zone, and Disciplined Trader. If you read these before you trade, you won’t exactly understand, but keep reading them and each time you will better connect with the mentality of a successful trader.

Give it time.

yeah, I know you see those people making thousands a day. It seems almost seamless. Trust that each and every person is or has gone through this process, and that forcing the timeline to go faster means you will get burnt harder. So allow yourself to learn, and don’t rush progress. Put in the hours, the energy, chart, and start loving trading for what it is.

Lastly, I want to end of with this quote that I repeat to myself everyday, a mantra per say:

Money is a side-effect of being a good trader.

Thank you, and I am so glad to have you on this journey with me! I would love to hear more of your journey too! If you want to follow my day to day, you can find me on instagram.com/nikkitrades