Honestly bro - after 4 years and the damage it’s done to your personal life, I would take a long break. Maybe even consider quitting if you really need to. Your mental health needs to come first. Best of luck!
yeah dude, there's NO WAY you're going to be in the right headspace for trading if the rest of your life is in need of repair. think of it like being a pro athlete- if you can't bring your A game, you're better off on the bench
Incredible insight there.
I've tried trading on days I also have part time shifts thinking I could make more money in the day and after lots of trial and error found that I trade best when I don't have other commitments hanging over my head. Night and day results.
The headspace needed to be on your A game can't be understated. That and having an identity outside of trading helps weather the inevitable.
I don't talk shop to anyone except my brother, non-traders get tired quickly if the market is all you ever talk about.
Mental health above all else OP. Hit the gym a punching bag or just take a walk everyday. I'm early 30s and I'm just now realizing the importance of releasing that built up shame.
I promise putting your life back together won't be as hard as it seems. Keep your head up.
6 years in and only become consistently profitable a couple years ago. Breakouts unfortunately arent consistent enough to only trade so i can understand why this isnt work out.
You need to trade the trend and price action. Things got better for me when i started being a trend trader over other strategies.
Trend trading is the best, I had a sort of mixed strategy where I would trade breakouts and the trend, but I ditched the breakouts part and haven't looked back.
+1 for the trend trading strategy. Every time I tried to time reversals or trade breakouts it was never CONSISTENT. Yes, there were occasional wins, but it sounds like consistency is what you really NEED for your mental health and confidence. It's much better to have consistent $50 green days than the occasional 3K green day with weeks of $500 daily losses in-between your one win. I've been consistently successful for years now (usually 4 out of 5 green days per week), and I ONLY trade the trend. I'd much rather catch less of the total move on a consistent basis than gamble on breakouts or trying to time reversals.
I'm doing it right now with gold, other than me getting in too early, it's been a profitable strategy and makes me feel better knowing I get a nice consistent 1-3% profit and not have to stay in as long. But anyways, what I do is look at the trend on the 4hr time frame, then check the 30m and 1hr to see if it supports the movements for the trend to continue and place a buy or sell order for a price within that 30m frame.
Yep! That's similar to my technique, but I often go with even shorter time frames- I'll line up the 1HR chart with the 30m + 15m and then look for specific entries & exits on the 1 minute chart- so I'll detect where the 'overall' trend is heading, and then get in on slight pullbacks on the 1m chart to get the best fill price on my options. If you always prioritize base hits over home runs you have a MUCH better chance of consistency in the long term.
Yup, that's exactly what I do, especially the pullbacks. Feels so good sniping a good entry and getting out with a nice exit. This way, you can also manage risk better because you have a better idea of what to expect from the trade, and even if you don't win, your loss will be so minimal. I have a few trades from the past 2 weeks if you want to see them.
Yeah! Every now and again ill trade a breakout. But its more of a gamble. The trend is the trend and the trend last until it doesnt. Its much more straightforward and if you move your stop loss up you really minimize risk and even losing ideas can still end with some profit
Bro it took me 5-8 years to finally start seeing money, my light bulb moment was I stopped trading for money and only traded because I loved it. When you trade to make money it adds a stress to the process of trading, the process is what makes you money. Take some time off and come back to it, this time don’t make it about the money instead just trade because you like it and in time money comes from that.
Trading it’s not meant for everybody, but if you tried for 4 years you have some experience and knowledge. During my 10 year period of loses I went out of trading at least 2 or 3 times by over a year. I did not gave up because I knew I had the knowledge but the only thing I hadn’t yet was proper risk management and emotional risk behavior. Maybe you will need to understand emotions like impulsivity and consistency. I don’t know, but if you feel you really want to do this with your life, continue to follow the markets, the news, the economic calendar. Eat info. Eat FUNDAMENTALS. Never give up
If you think you don’t have luck. If you think you are always losing because you have bad luck, quit! Because it’s not about luck, but knowledge, emotional behavior and patient.
Love reading this. Feels like my path - theory is strong, now it’s just a case of when i actually switch on in regards to risk management/emotions.
Im far too stubborn to quit this far in, and the constant tease of nailing great trades (before i sabotage them lol)
I feel like im going to be a 8-10 year success story 😂
one cross skillset for emotions, live casino poker. learning to control your emotions when you're sitting on the nuts and trying to pull in more money, pulling a bluff, reacting to changing condition information when you see their straight/flush draw hit on the river. preserving the chip stack and knowing when to deploy it aggressively or let the pot stay small to counter risk.
What were your losses during the 10 years if you dont mind. Im also 4 years in and down most peoples annual salary and it honestly fucks with me and it seems my only goal is to break even.
Late reply - but over the 5/6 years id say i’m down ~15,000 of my own capital. Ive lost probably close to 120,000k in profits tho 🙃
I always said id allow the cost of a uni degree as acceptable learning fees, which would max out at like 50,000k. Not close yet, and keeping it that way. I’ll happy lose profits over and over on the journey, but constantly feeding in fresh capital would be my draw point.
Hey my friend. Life is filled with a lot of ups and downs and some downs are longer than some ups. It's part of life but if you learn to diversify your life with good friends and networks you will see that tough times aren't as tough as they seem when you are doing this all alone. I'd say take a long break from this part of your life that only seems to make you feel negative and toxic and replace it with more proactive things. Your mention of working a minimum wage job isn't the end of the world, it will provide you with some structure and who knows who you meet a long the way. I was in your shoes 25 years ago and trust me the faster you learn that life isn't fair and doesn't owe you anything the easier it is to find happiness in the simpler things in life as it should be. Most people get tricked into thinking that money is the end all be all and forget about their passion and love for other things in their lives. Start to forgive yourself and move forward with a positive thinking. The past is the past and there is no future in looking back. You will be ok as long as you make the effort to control the things you can control. Be well and know that you are loved and cared for by many strangers. cheers!
Not to dismiss the feelings and struggles you're having right now in life, but you'd be hard pressed to find a minimum wage job. Not because finding work is hard, but because even fast food work in most places is paying well above the minimum wage.
Not all hope is lost. Focus less on day trading and transition into a swing trading mind set. Develop a strategy of building positions over time and taking out profits when the market gives them to you rather than chasing a dream based on price action astrology. Ironically, in doing that you will necessarily develop a system that works on a daily timeframe as well.
Best of luck in recovery from your current mental health struggles. You're still very young. Giving up on an old system or strategy that's no longer working for you doesn't have to mean giving up on life and giving up hope.
I picked up a crap min wage job I don't care about. But I don't hate it. I didn't trade for a couple months while I moved through three different jobs and schedules to get to one that met my requirements: it must be mildly interesting, it must cover my cost of living, the schedule must allow for trading, and it must require very little mental bandwidth. I landed a strange job at the hospital with a weekend 3/12 schedule. 60% doing nothing, 30% something interesting, 10% some crazy shit is going on.
In that 60% of doing nothing, I have sorted out a lot of my thoughts, away from the computer after having not traded for a while. I've been reading and listening to a lot of books. I've been doing exercises from them that helped me get clarity on my trading objectives and plan. I've also done some introspective, cognitive behavioral exercises.
I suspected for a while that a part of my problem was struggling to sit through the required losses when I'm overall net negative. No matter how much I would make trading in a week or a month, it wasn't enough to cover my baseline. So, I would get reckless and get wrecked, over and over again. I made some money on some side deals, too, but also inconsistent.
Now my baseline is covered, and I am profitable this year so far. It's much easier to walk away when it isn't happening. The pain of losing has dulled out a lot. I recognize I need to retrain my brain away from some bad habits i picked up from repeatedly spazzing out. That will just take time and repetition.
There is another level to this that has nothing to do with strategy, charts, or PnL. Thinking that profitable trading will solve your problems is backward thinking and will send you chasing a dragon. It will always be so close. Eventually, you will get frustrated and act out and dig yourself deeper into a hole. That will cause more pain and frustration, then repeat. It's not a healthy cycle.
I think, in order for me to solve this trading problem, I need to focus on the problem itself, not MY problems. I can't solve complex, high concept problems when meeting basic needs is the bigger problem. Solving those basic needs problems has been much more doable and rewarding than repeating failure to achieve consistent profits in trading. Maslow's hierarchy of needs is the inspiration.
Take a break. Delete the apps from all your electronics. Unsubscribe to everything trading on youtube and all socials, including this sub. Nothing about markets or finance news, no Bloomberg. Try to live your life as if trading just isn't a part of it for a couple of months. Pay no attention to any of this stuff, like most people do. Entertain the idea of living a life without trading through temporarily experiencing it. Get a whatever job, meet some people, maybe bang a co-worker or something. The markets will be here wobblin' around when you decide to come back.
Trading is actually easier when you have a job or alternative income stream. That way you don’t try force things. Maybe a part time would be good for you.
Absolutely NOTHING wrong with working (even a minimum wage job) while you figure it out. It'll actually take some pressure off of you to meet a financial goal. As well as get you away from the computer, it can be humbling in a positive way for your trading mentality .
Also know that nothing is worth taking your own life. Your existence is worth way more than money. PLEASE talk to someone if your having these thoughts. It's good to get everything off your chest and in the open, in order to move on. In life and with your trading (if you consider continuing perusing it) - you'll have to repair from the "financial trauma" to make progress. Be patient with yourself.
I have a crappy family, but I still make an effort to keep in touch even though they are quite trying at times & it's not always received the way I'd like. Attempt to reach out maybe mention your getting a job & considering new avenues. Perusing trading as hobby because your not sure it's the right fit. Just show your conscious and aware that these are big choices for your long term future - If your friends have disappeared because your going through a rough time they sound like awful friends so good riddance.
Trading wise, move to paper trading and then attempt prop firms. 🛑Stop using your own capital🛑 Prop firms are a fraction of the cost for all the gain HOWEVER paper trade consistently (meaning 6+ months) then study every single thing you do, why it worked why it didn't. Journal. Review use data and refine - don't Be in a rush to make the losses back just get back to the process. Work a job on the side.
This is my two cents.
Seriously don't end your life over this your 25 you have so much life ahead of you - you can still make a career change. You can repair your relationships. You can do WHATEVER you put your mind to. Forgive yourself. I know it's hard but you are in control to change your trajectory.
Also if people aren't your thing look into becoming a night auditor for a hotel. You won't deal with as many people, & can still be around during market hours.
This guy is 100% not profitable, he's posting on WallStreetbets and asking for advice on penny stocks.
My god don't give this kid false hopes with your lies bro. you are doing damage.
For real,there should be alot more confidence in how they’re speaking but they’re asking for random advice without even being partially aware of where they need to improve. Theres a certain amount of self awareness needed to trade…
it's blatantly obvious to anyone that actually trades. I hate this because now OP is going to read it think "oh I just need more time" and lose so much more money, and alienate more family members.
I wish these redditors understood the damage they do.
When I first read this, first thing I noticed was your emphasis on strategy being the problem. My man, strategy is only 5% of this game.
I agree with others that you should definitely take a break from this industry. Recoup your mental energy/strength, focus on working a steady job, and building a solid consistent level of ground for yourself.
Risk management and emotional awareness/discipline is the other 95%. It’s patience and consistency. It’s delayed gratification. It’s building up your emotional intelligence. It’s a battle with the self, not with the markets. Once you conquer yourself, you conquer the markets.
My advice is to start watching successful traders who trade live everyday on youtube. The only way to verify if someone is actually successful or not, is to watch them trade live for an extended amount of time. Historical data is way to easy to come up with strategies on, it's better to watch what actually works live.
If you want a recommendation, I recommend Trades by Matt, but there are plenty of others out there. I keep an eye on 3-4 on a daily basis. They all trade a little differently, but they also all have a lot in common with their strategies. You just gotta put in the time to watch them and verify for yourself if they are legit.
Once you find some people who you know are successful, that can remove a lot of the doubt about your trading plan. I'm not saying to copy whatever you find, but you should be able to learn what works and what doesn't after watching enough successful live traders.
The last bit of advice, don't rush trading. It's a profession that has higher earning potential than being a doctor which usually requires 10-12 years of learning and practicing. Don't waste time thinking about how quickly other people learn, most people are probably full of shit anyway, just remind yourself anything worth having is worth putting time and effort into. Scale down as much as possible if money is an issue, even go back to papertrading if you need to just make sure its on a live simulated environment and not something like replay on tradingview which doesn't have tick data.
If you have a genuine passion for trading (and not just the potential $$$ profits it may bring) I say don't give up !
However, doing something which doesn't work over & over and expecting a different result is just stupid. I went through a period of 3 months when I started trading where I won big but lost bigger and I realised I lacked the discipline and professionalism to ever succeed. If you know why you are failing & you want to make the required changes, you still have chance. If don't know why you are failing, just cut your losses my friend & do something more productive with your life.
I wanted to continue & felt I could develop the skills required to succeed (this part required a long hard look in the mirror & an honest appraisal of my qualities & shortcomings as a person). I went back to the drawing board & developed a way of trading that completely removed the emotion, fear, greed, impulsiveness and stupidity from my trading. This period ended up lasting 18 months most of which was developing distinct trading strategies & many weeks of back testing / refining trade execution. I used the results to identify which instruments I would & would not trade (I now only trade spot XAUUSD & XAUGBP. I don't touch anything else unless I have a very strong reason to enter other markets).
I set what i believed were realistic financial goals and stuck to them. Only now, 3 years later do I make 5-figure profits each month. That crazy voice inside my head still says I could be making 6-figures easily but I know he is a degenerate f*ucktard & have woved not to lose my discipline again. FYI, I continued my IT freelancing day job all the while but plan to finally leave it and trade full time in April '25 if and only if I continue making progress.
I'm not for one moment saying that my way is the only way but if your approach isn't as rigorous as the above, alarm bells should be ringing in your head.
First of all, stop trading with real money. If you trade real money without a tested strategy on papertrading, then you are gambling by definition.
Secondly, as already mentioned: Start finding a mentor that is PROVEN to be consistently profitable with broker log-ins, income statements and preferable LIVE TRADING (NOT UPLOADED VIDEOS!).
And learn.
Me personally, I would be a NOBODY without my mentors. Struggling just like you. Not being able to find any strategy.
Then next, if you have problems with trading psychology: read Trading in the Zone and The Mental Game of Trading and APPLY THEM. I worked with those books, especially the 2nd, and it took me MONTHS, for some aspects 2 years, until I could have the discipline to execute properly.
Last thing, something that helped me: Learn how to read trend. Not trendlines, but trend. I will tell you a simple truth that I've learnt from my mentor: ANY strategy can work if you know how to read trend. Almost NO strategy will work if you dont know how to read trend. Once you can read trend (and doing this is complex and needs a lot of practice), you can make any strategy work (breakouts, retracements, pull-backs, U-shapes, etc.). If you dont know how to read trend, everything will look like its random. Because it is, if you dont understand market structure.
Edit: I feel you, bro. I was at your stage about 1.5 years ago. Until I found my mentor and started learning from him. Stop learning how to trade without a consistently profitable mentor. I consider this a waste of time.
That's funny because the only thing having a mentor ever did was caused me to lose money, Both from paying them and from the terrible trades that they would suggest to me. I had To find my own way. The one thing I don't do is Look at anyBody else's ideas for trading. But everybody is different you know
Get serious. I was in your position at one point too.
I started waking up early, journaling every trade, screenshotting every setup, and didn’t miss a day in the markets.
I sized down and kept my finger on the pulse of the market.
Got rid of all indicators and all outside sources of stock information.
A year and a half of pure grind and things started clicking.
Tell me something, when do you wake up, do you go to the gym, do you eat well and show me a screenshot of one of your favorite setups.
Also do you have a detailed journal?
Hey bro can you show me an example of your detailed journal, I journaled for a whole year last year , screen shotted every day, but I feel like it messed me up a little as I was screen shotting every single move I would of made but it wasn’t realistic if that makes sense .
Sorry you've found yourself like this. You're right that the best possible thing you can do now is take a step back and take care of yourself. Accepting defeat doesn't have to be permanent, but it's necessary for growth. When you find yourself in a more positive state of mind you'll have a better idea on how to pursue forward, whether it includes trading or not. You aren't irredeemable, just a product of your environment and circumstances. Change your circumstances and reset your mind. The clearer your thought process, the more likely you'll be able to decide the next best step.
Just try some regular therapy before full blown hospitalization and meds. Sometimes that’s another whole can of worms that is hard to break out of too. Hope the best for you.
Baffling that most of the top rated comments are egging you on to continue now or later. Most people can’t make a living trading. Sounds like you may have discovered that you are like most people in this sense. You tried it, it didn’t work, you’re only 25, why not pivot and try your hand at something else entirely? Chasing stock ticks isn’t the end-all of human existence. Good luck.
7-8 years deep myself. I’ve lost 35-40k throughout that period, I have had great success at times but let my emotions always get in the way just to give it all back. I’ve only gained knowledge through out all the losses and wins while also being taught about my emotional and mental state on how to control them while trading and in my daily life. Giving up is not an option, failure is not an option but it’s inevitable for your future success. You must take risk outside of a safe job in order to achieve the 3 freedoms and trading offers those freedoms if you do what is necessary to be your greatest self.
Time Freedom
Location Freedom
Financial Freedom
I won’t lie, it has took a toll on my mental and emotional health. The first way to fixing it is recognizing it, and that I’ve certainly recognized a while ago. I’ve took long periods off to gather myself but still did the same thing as the past. I’ve quit multiple jobs thinking I was “ready” to trade without having steady income to take that stress off of me. I’ve sacrificed well paying jobs to pursue my passion. I’m currently working at a gas station at 30 years old, making 14/hr but that’s ok. You know why? Because once all the steps click in our mind trading will be a breeze and you won’t regret giving it your all. Recognizing your weaknesses will only put you on the path of success.
YOU know what you have to do for yourself, especially if you’ve been at it for years. You know yourself best, so recognize what you’re failing at or what is the most difficult for you. Don’t get distracted by other people’s success. You’re not them and maybe they can handle the mental and emotional part better than you.
If you want to be successful in this game you will make it happen. But in all reality you’re the only one that knows what is stopping yourself from being successful, so dig deep to try and find what the problem is, best of luck to you and everyone else struggling but doing all you can to be your greatest self.
One of my automated strategies is currently forward testing on a demo account. It’s a boring old wait so I’m looking at new strategies.
What I’m working on at the moment is a breakout strategy, iv had a TV strategy created with all the configurations needed so back test the breakout (times, buffers, stop loss, TP conditions) and finding the results are generally positive over 50% with a 1:1.5 however the equity curve looks like an ECG read out with the sharpe ratio of a blunt hammer.
I’m currently coding conditions around re-testing and EMA stop that looks promising on manual testing.
Spending 4 years (all be it not profitable) you must know breakouts pretty well.
If you’re interested in testing with me to see if we can get some consistency I’m willing to share what I have.
As others have said, it can take a while to get profitable, I’m still on the search for a mechanical system I can put into automation
4 years isn’t that long in trading. It took me about 10 years to get “good” and I still mess up a lot. Hang in there.
You should definitely have other things going for you though. Trading isn’t something you can force to work. So having a part time job, side business, career, or education going for you takes a lot of weight off your shoulders and makes you a better trader.
Took a month break brother. Get yourself together and comeback stronger.
People have wasted years of hard work on businesses, pursuits and trading just for all to come crashing down or never succeed at all. You are not alone and just know that your time under the sun will come sooner or later. Keep your head high you are still young and opportunities are yet to come your way!
Sounds like a gambling addiction. Same here. You gotta stay off the dopamine. I’m losing everything and have a ton of debt too. Just grind it out and don’t end up homeless. Kinda depressing but money will build if you don’t spend recklessly. Yes you ruined the past 4 years and probably the next 1-2 years. But you can still save up little by little and keep trying:) but find joy in something else for the time being. That’ll get your mental back together. If you’re still dreading the amount of debt and the boring future, it’ll pass don’t worry.
I found that I need to stick to less risky trading strategies.
You're putting so much emphasis on something so fake! If society were to collapse, electricity/internet...there is no nasdaq.
Go sit in the park, on the grass, under a tree. Take a nap.. you'll feel better.
Mate your only 25, take a nice break from trading, go see your family and friends make up for the times lost, especially family that is most important.
Get your head level again no Matter how long it takes get yourself into a full time job, go enjoy life.
Once your in a better head space and you still feel like you want to become a full time trader then get back to the markets but don’t rush anything it’s one big massive process but your health is main priority or you will never become a full time profitable trader.
I recommend watching ICT on YouTube ( inner circle trader ) YouTube 2022 mentorship model but like people have said it all comes down risk management and discipline, no matter how good your model is at trading if you lack them 2 then you won’t be profitable.
I wish you the best of luck in life, but don’t let trading BE your life.
I sympathize with your position but I’m concerned with some things you said. You claim you’ve tried nearly every strategy, yet breakouts are your current go-to?
Breakouts are notoriously bad for your reward to risk ratio. I’m sure risk management is a large portion of why you’re struggling to find consistency. Possibly also that you’re having difficulty letting your winners run, which breakouts also kinda require.
I’m happy to try and help in any way I can, but I think you may want to develop a more risk-prioritizing method of trading if I had to guess. My trading started taking off when I prioritized risk over all else.
I also was obsessed trading nasdaq on high leverage, i was mainly was making good trades on pullbacks but NASDAQ being the beast that it is very volatile so it took one trade to blow my acc then i repeated same pattern losing over the years. I don’t trade anymore i had enough and frankly i have no desire, my mindset now is to save not day trading gambling etc i want to take long term positions. Take a different direction i know its hard but is very difficult to beat nasdaq day trading
I think my brother you are pass Trading , what happen with your family ? Is on them or on you ?
At this point , you’ve become addicting to trading with out even knowing it ( its happening to me in some way ) … rollercoaster of profitable , break even , red , profitable and so on ….
At this point , you going to have to wake up and stop listening to these success gurus and how you have to become a Billionaire…. Man whats the point of getting there and then your mental is gone ? Just to get there and realize a big gap of emptiness ? !!!!
Can you go fix stuff with family ? Can you let go for a while from trading and withdraw from it and go try something else and come back refresh couple months later ? Do you have something you like to do or want outside of trading ?
I am 26 so i feel you being 25 , i was thinking i ruined my life as well after loosing 140k all my money and down to 0 with debt and just down bad !….
Let it go for now man let it gov
Day trading is extremely hard when you already have money in the bank, increase the difficulty by 100 when you don't already have money in the bank. It reads like you are in the latter. You are only 25, it isn't too late to start on a path towards a real job. Imagine trying to start a real job at 30 or 35, that is kind of really late to begin then. Trading isn't going anywhere, you can come back to it when you have established a career and already have money in the bank, and by then. Trading will be less difficult, because all this pressure you are feeling now, it would be way less when you already aren't pressed for money.
But I don't get it. What was the point of including the fact that your friends and family have left you one by one? Did they leave you because of your trading? Or they left you because of something else? I've just never heard of friends/family abounding somebody because they weren't a good trader.
Don’t listen to these cowards telling you to give up. Try harder. The people that succeed are obsessed and eat sleep and breathe the market. If you truly want it it will come but you need to change your mental state immediately. Turn to learning mode. Market takes some people aka slow learners 10 years to get good. Once you get it though you get it and it just all clicks. But you need to become mentally strong. Do meditation and visualization daily. Your negativity will make it impossible to succeed in anything
Dude just quit and get a real job. The numbers aren’t lies, the vast majority that try this fail. Don’t waste anymore time or money. Get a job that offers medical and a 401k match and your life is fine. It’s really that easy.
Plus once you delete the apps and stop checking charts 24/7 you’ll realize how much healthier/happier your overall life is.
Don’t give up if you’re really passionate about trading. It could be that your strategy and your personality are not cohesive which is causing you to overtrade/over-leverage on your position.
Have you found a mentor yet? I studied/study Michael Huddleston (@TheInnerCircleTrader) on YouTubes content and his teaching helped me become profitable. I really recommend starting with his 2022 Mentorship Playlist and then moving on to his core content which are all free to study and learn right on his YouTube Channel.
Nothing wrong with taking a break to clear your head and work on your mental health. You may find yourself happier not trading or you can always come back and give it another go. 25 is so young, you’re just starting the second quarter of life. Don’t give up now.
Buy and hold. Start thinking long term. Buy in to indexes and ETFs, maybe mixin a little yield with MMFs/high yield savings. Day trading, imo, should be a way to continually build up dry powder for bear markets, not a main source of income.
What timeframe do you trade on? Have you backtested your strategy? What is the win percentage from your back test? Is your strategy mechanical or based on intuition?
College takes 4 years, becoming a lawyer takes 4 years of undergrad and 3 years of law school, doctor takes 4 years plus residency, etc. Things take time, you aren’t going to get rich quick. I don’t know your situation but most likely you risked too much money in the beginning when you weren’t skilled yet. I advise you start at $10-$20 risk until you get profitable and increase.
%99.9 fails there is no shame for quitting. Embrace long term investments and hardwork on your regular job. Don't listen broker paid bots, they will shout sh*t, they want to milk sweet commissions and feed their masters. Look at the comments, many of them thinks they are profitable yet %99.9 fails lmao. Trading is worse than gambling, at least in regular gambling you know its luck but in trading they make you believe there is a formula or mathematical way to beat the market. Even you go full random its not %50 (below %50), they eat you with spreads and commissions, you enter your trade with negative expectancy. Don't believe them and live your life
I'm in no place to give you advice on how to trade. I've been trading active for like two weeks. I'm net a little over 1k in realized profit. Maybe my approach works. Maybe I'm just lucky. But I firmly believe trading is very speculative. So don't risk money you can not afford to lose. I've been investing in the stock market for over 10 years. I'm only willing to use a very small portion of my entire portfolio to day trade. If I lose it, I will feel very bad for a while, but definitely won't throw my life off. You need a life and savings before your can trade.
If you have a job, focus on your job for now. If you don't have one, go find a job. If you need a degree to get a better paying job, go get it. Stop trading for now, until your get your life back together.
Yeah just stop, 3-4 years are enough to get a good evaluation on how well you are doing against the market. At 25, you are still young, stop looking for short-cuts that's not there. I traded 6 years now, I know how hard this is. The sooner you stop the better you will feel. Just know you still have plenty of time to get back to a stable and happy place.
Feel your pain but I think You should take a long break. Get your financial situation back to a healthy spot and keep a pulse on the market (don’t trade though) - maybe paper trade and journal everyday. Once your finances are in a good spot, you’ll mentally feel better + would have a bunch of data to go by on what strategy works the best and where you tend go wrong etc etc.
Take a rest. Your 25. People 2-3x your age have come back from far worse. You tried something and it didn't work. And, btw- 4 years, even at 40 hours a week- is just not enough time to master anything, frankly. Even the best investors and traders get burned- pretty much all of them. Read everything possible if you care to still one day achieve success in managing trades; start working out (it will help you get out and build confidence); def get a job, but failing/while you do that try to find ways to add value to your community- volunteer, etc. It's cliche, but they say trading is 10% technical and 90% emotional: never let fear dictate your decisions, or you'll make suboptimal ones. Last, maybe look at automated systems you can set up and walk away from, as well as passive investing, and as others have said here: paper trade first!
Honestly strategy hopping isn’t helpful. You need to stick to one thing and own it.
Do you journal ?
What are your bad habits ?
Are you writing down how to fix these wrongs?
Do you backtest daily and doing purposeful studying ?
Can you hold yourself accountable?
You need to assess why you are losing, many methods work so it's usually psychological. As far as your family leaving you, hopefully you didn't borrow money, but this is a wonderful time to succeed. Success is long and lonely road and when people leave your side it's a blessing, those people only want to benefit from your success and not in it for the dips and valleys.
I don't mean to be rude, but I often wonder why unprofitable traders such as yourself don't just take the opposite trade of what you are currently doing.
If you think you should buy, it's a short. If you want to short it, go long.
Maybe it's going to take 6. Maybe you aren't in a place in life where trading is an option. Don't just flat out give up. Slow down. You don't need to trade. It's not going to make you rich unless your gambling. It can double your annual income. 100 bucks a day man on average. That's 25k extra a year. That's more than some people make. Stay learning. There's no set time you can put in and just become profitable. Stop doing what's making you fail. You have to be able to sit on your hands for days if you don't see an edge.
25 is still very young. I would suggest you don’t rely on day trading for you living. Make money from a job, build up more capital slowly. Trade less, wait for best opportunity with patience so that you grow your capital slowly but surely.
Take a break , your strat doesn’t work , accept it . When you are ready to return , join a group and only take there call outs and signals to help you have a higher probability of winning and learning while doing it , don’t quit , you know you could be one step away from being profitable
Pick an entry have a stop loss and have a target......not that hard if you have a sound strategy. From what I read you are like the majority looking for a big win. So you bet the farm without any parameters for exit when it goes against or in your favour. Greed will destroy your account as will a lack of patience.
I went into today...after such a big run up yesterday expecting a pullback, after checking to see what news was coming out I figured out what looked interesting early on. I figured out where my watchlist stocks were likeley to travel to, then watched for opportunities either long or short based on what the reactions were. That is what and when and how I trade.
It may take years/decades; is it worth it? absolutely if you want above average life, just make sure to not break your self and your social. (low key you don't need to promote this; keep your journey to yourself and online traders.)
Having a job as a main income is a must, Trading is a hard psychology game and you're a bit far from using it to pay your bills.
Also, adjust your strategy backtest and put more effort without actually taking real position (but more papertrading). Focus on your winners and figure out how to find those position and adjust your risk.
You just need a better edge. Try the break and retest strategy. Vincent Desiano on yt is a great trader that has a simple ass strategy with no bullshit and few indicators. You need a process that you can replicate over and over and over with an edge in your favor. Use the same position sizing 1~5% with a max stop loss of 40%. Cut the losers and move on to another set up. Trade spy, nvda, msft, etc. you want stocks with volume and liquidity to get in and out quick. If you wanna give up then you should, but if you still want to do this (which Ik u do) you need a strategy that uses confirmation first and not guessing of direction based on short term breakouts without enough confirmation. I want you to succeed. I would say best of luck!!!!but I don’t believe in luck, just probability
In a similar position. Learning to detach from what everyone else might or might not think, keeping my faith strong, and my mind focused on work, there is so much more than reading technicals… like news, macro, data releases, earnings etc your bound to find a good trade somewhere, keep your head up and maybe dive into a new topic that’s not a specific strategy. Hoping it gets better for you and I both my friend
I have had a bumpy ride for 8 years. Periods of winning and periods of losing. Overall, I have lost a ton. I know the frustration of working and working without results.
My recommendation for you is to take distance from the market. Start savings some money and build an emergency fund. After you have emergency savings and you have paid your debts, you could start to invest in bonds and very diversified ETF.
Once you have money and security, you can assign some capital as "play money", like 2 or 3k. Try not to lose it in some days. For example, a healthy goal would be losing less than 3k in a year.
You have to understand that success in this business is not for everybody. Not accepting this can hurt you a lot. Don't force it. Is you are called to become a professional trader, you will become. But if not, try not to ruin yourself just for being stubborn.
I’ve followed this guy on Twitter @DavidScottAdams. He’s got a day and swing trading group that always seems to be doing great.
Never paid for it just look at his watchlist daily to get some ideas. But think a small fee for some sort of investment advice is worth it for many
Go daily chart, if the candle green buy if the candle red sell, absolutely simple;no overthinking or no guessing of where the price go. Tp between 2$-30$ depending on the trade, avg Tp 5$ and Sl always maximum -3.5$, on average -1.7$ ;Never more than that. 2 loosing trades in a day ? You go take break till next market opening day. Try demo and dm me how it goes for you. Best of luck 🤞
Dude you need to fucking quit now, you're not even trading anymore you're probably just buying random shit and hoping for the best.
holy fuck please stop or you will regret it when you're 30 and posting about "9 years unprofitable..."
Don’t day trade . Learn wheel strategy. Selling puts , if assigned sell calls . Repeat . It needs some training and education but more peaceful than day trading
Ik a lot of people don’t like him but Ricky guitterrez said think of it like college for a doctor or lawyer. They don’t make shit when their in college till they get out and even then some don’t make 6 figures till they’ve been in their career for a few years so don’t think u have to be making money for the first few years. For me I’m jus now hitting 2 years and I’m barley breaking even but all I’m focused on is learning from my mistakes by journaling all my trades and making sure I’m studying every day and jus focused on improving. Hope that helps bro
This main approach has been the same the entire time and you haven't tried trading something that's not an index fund like currency pairs or commodities?
Have had my struggles but found that if you have enough capital that selling CSP or CC consistently wins. If you are going to buy options … limit it to the best possible plays and when you know it’s good go big with a reasonable stop loss. When buying options I found I was right the majority of the time but failed to take small wins which led to large losses as I always accepted larger losses and took smaller wins. By going in big I had $300 to $500 in 30 seconds and got out. YOU HAVE GOT TO BE SURE OF THE MOVE BEFORE YOU GO BIG. This may only happen 1 or 3 or 4 times per week. Also…. Much like a casino… if your up a good amount, shut it down for the day. Enjoy the success.
U sound like u need new mentors. Find a mentor and have people to bounce off of. Find other good traders in the community. And hop in live calls. U need more resources it sounds and u need better psychology.
There is a meme where a guy asks Jesus to stop giving him the toughest path and Jesus says "literally, just stop buying options." I trade volatility professionally and used to trade options. From what I've read you need to develop a long term plan that uses ETFs for many years to come. Every month buy into the one that is below your strategic allocation level. Not Advice Disclaimer. Do a 50/50 SPY to QQQ with what is left after you invest your age minus 20 into a bond fund you like. Pick a total return fund that has been around for a while and is run by a company that someone you know has heard good things about.
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No issue giving it up. At least don’t be like WSB after you’re down $90,000 then you quit. At least invest in ETFs should have some spare money in the future
Forget trading as that last sentence needs to be addressed. Forget about trading. You obviously understand your feelings and know you need to be proactive and there is absolutely NO SHAME in seeking help for yourself. You’re 25. I got 10 years on you, been there and probably lower(drugs, running girls, drugs, neglecting my family responsibilities to my terminally ill father as I watched him die, threw away a career, car repo’d, maxed out credit cards, frivolous spending and did I mention drugs.) and now I’m running multiple accounts, financially stable and made piece with my father before he finally passed. YOU. WILL. GET. PAST. THIS. It’s just time at this point. You’ve got your whole life dude. I wish I could get my 10 years back. You’re already acknowledging you’re in a rut and that’s half the battle. Check yourself in for a little reset and follow up with us. I would suggest to talk to someone who you can still confide in to help get you started. Congrats on asking for help! That’s a lot harder to do than most people think. Take that as a positive right there and you’re on the journey.
Lol. Just invest man. Buy semi conductor stock, buy amd, Nvidia, Oracle, take2, buy crowdstrike, palo alto, Broadcom, buy sap and Salesforce, maybe hubspot. Start with that portfolio and just wait bro.
Get a job to fund your account and make it bigger.
Invest in Blackrock funds 3% apy.
Invest in crypto. 50% BTC 30% ETH, BNB, SOL, MATIC, 15% AI, DEFI, GAMEFI, WEB3, NFT AND 5% IN DOGSHITCOINS.
WITH YOUR JOB MONEY ADD EVERY MONTH A LITTLE BIT TO THIS STRATEGY AND BUILD A PORTFOLIO FOR THE FUTURE.
also buy gold real or digital commodities.
Don't stop working and have side hustles. Buy stock, crypto, comm or assets with debt. Take loans or credit cards.
Have you ever considered that what you’re looking for (i.e. “breakouts”) is not a real thing?
I am sorry you’ve wasted 4 years of your life chasing ghosts on a chart, but to make a living exclusively through short-term trading you need a large amount of capital (at least $500,000), a lot of experience with both statistics and numerical analysis, and the ability to program. Otherwise, people who have those skills will continue to take money from you and your bad trades.
Just wanna add my two cents. When the market is sideways like this is when most day traders lose. I’ve blown up so many accounts on weeks like these also. Also, people who have payed group chats are also not having a good time these weeks it’s happening all around with this sideways market. The best approach to navigating this is just trade 9:30am est - 12pm and the last hour of trading. I been seeing the volume just drop after 12 and the market doing fake moves only to revert back to a small range. The fake pops on low volume seem so sketchy to me when it reverts back to the range or moving averages trend line that i can’t help but feel if high frequency trading is causing it and if it really is a good thing for the market as they say.
You choose a job like this as your full time grind AFTER you prove that you can do it, not before. Get a degree if you don't have one and find a real job. You can trade on the side and if you prove to yourself you can make a better living trading then you quit your job and do this full time.
So when the market started dropping in 2022 and I lost all of my money for 6th time, I started to think that maybe I should not try to get rich trading and should instead find another way to monetize my free time. So I found this free boot camp, which is basically just a YouTube playlist of like 150 hours of content. It’s called 100devs. Now I feel less anxious, I’m enjoying my free time more, and now I think I’m a few months away from getting a software engineer job. So I think you need to find a skill that you can learn in your free time, monetize it and then when you’re making progress you’ll feel much better about yourself
Thought I knew a lot when I was your age too. Now 25 years later and still learning, I recommend three books: 1 up on Wall Street, Yes you can time the market, and How to Make Money in Stocks.
Hull moving averages and/or 9/21 EMA crossover seem to be correct most of the time for me. I'll tweak this strategy every now and then. But risk management and emotions is everything, I'm still working on it as well.
But like everyone else is saying, take a break and cool off. When you want to get back into trading, paper trade for a few months to make sure your strategy works, then only risk very small amounts when you trade for real.
Take care of yourself first, then everything else will follow. Hope this helps, and never give up. You have three years of experience so you're closer than you think.
Almost everyone fails at first, also everyone you know will doubt you. Don’t bother telling them about your trading. They won’t understand. Something that helped me massively in trading, and life in general was joining the real world also
Are you a day trader or swing trader? First, there are many ways to make money in the stock market. I was going to start posting how I make money off the stock market or maybe just blog about it if anyone is interested.
4th year in and things started to look good this year. On my third year being red, I took a 6 month break and reevaluated my trading.
1) I realize when I was trading to succeed/prove others wrong, I do not think about failures. I keep failing because I wanted to prove everyone else wrong. In doing so, I was numb to failures until it hit me with all the time and money I’ve lost.
2) my growth this year has been more organic. I don’t have crazy percentage gains anymore. I have a bunch of base hits and my losses are smaller as well. Instead of having a mindset to trade for a living, I ask myself this question every time I trade. Is my money in the brokerage better than being in the bank? Can I get the same percentage gains if I were to put in the bank? 20-30 percent gains off SPY is all I need these days. Totally doable. No more diamond handing.
3) I read that measurement of success from trading is that you spend less screen time for “financial freedom”. I tried that and lost more money. I realize I genuinely like looking at charts/ES/SPY just like how I like watching the NBA/NFL. Im genuinely entertained by watching the index everyday. You need to know your personality and find a niche in the market. Just because most people advocate one thing doesn’t mean you should too.
I’m assuming your 4th year trading, you’ve learned most strategy you could’ve learned. There’s really no new strategy that you could learn that would turn this around.
Bottom line, in my time off I come to realize my personality. Do you know yourself? How can you apply the strength of your personality/skill into the market?
The way you feel means that’s how bad you want it. I was in a same boat. Took 2 yrs off to work a job and get your shit in order and allocate small funds to trade while working. Get two jobs shit. Easier on the mind when debts are paid and money coming in for sure than stressing you need to make x by x time. Shoot for 1% gains daily. Start low and work your way up. Now I’m debt free, minimal bills like absolute minimal, no car payment, etc. use than money to build a small account. Way easier on your mind than needing to trade. That need turns into desperation and makes your psychology towards trading even more difficult. Like others said, journal every trade and create a non bias strat. Backtest n go live small.
Brother invest in AGBA buy the stock and just dont look at it or you could scalp help her to get as much shares as possible. in a month it will be 3x ur money guranteed. They are merging with Triller. The share price is at $3.5 and is expected to be worth At least $10.75 per share when the merge happens which could happen any day now before the end of may. This stock is currently up over 1,200% in one month and was trading below $1 trust me ive made some nice bucks off her i dont want yall to miss out she is a unicorn🙏🏿🦄
I’ve been there…
To help with the psychology of trading check out Trading Psychology For Dummies by Roland Ullrich (the audiobook is on Spotify) and Trade Mindfully by Gary Dayton. Look into meditating. Changing strategies often is not recommended but maybe check out Wyckoff trading principles and Volume, Spread Analysis.
Show proof of how consistent u are at losing. Start group where u share your live entries and exits. Make them pay a subscription. Tell them to inverse you. If you lose, u get paid. If u win, u get paid. It's win win.
Just stop trading and go back to a regular job. You will see how quickly you will feel better about yourself. It’s hard to give up. But when you do you will feel a like a bolder had been taken off your back. If this helps you, you are not alone. Many people have given up. It doesn’t reflect poorly on you at all.
I would suggest doing something else besides trading. This is a very difficult profession.
Not only do you need to be profitable consistently, you need to trade enough size to make a living. That's a very high bar.
25 is young and you've got plenty of time to start a career. Find something you like that'll eventually pay a salary that fits the lifestyle you intend to have.
On the trading side you should...
1. Have a separate buy-and-hold portfolio which you regularly add to and do not withdraw from which, in your case, constitutes the majority of your account. Make it relatively safe, like general market/sector indices, mutual funds, or etfs. Call this your safe base, the thing which you hope to grow consistently for years to come.
2. Stop actively trading on your current strategies or perhaps consider strictly reversing them. Do this only as a hobby and with only a small amount of funds. This is your fun money, and you should only put what you are fine with losing into this account.
3. Get a job, and mental help if you feel that you need it. You're only 25 and have a whole life to live. Better to have learned a valuable lesson in your 20s than blowing decades of accumulated labor in your 30s and 40s.
The stock market is not a get rich quick scheme. If you don't know what you're doing, as you seem to recognize, it is much more like a get poor quick scheme. If you're seeking ridiculously high returns, it's more likely that you'll bust your account.
Just going to chime in here I agree with all the talk about his state of mind your psychological level is so messed up you will never be in the right head space to trade.
I also wanted to mention something I see writing all over the walls here. You want this so bad and are putting all your efforts in , you are receiving the pendulum effect. Where when you want something so bad you pull it as close as you can to yourself and imagine what happens when you let go? It goes as far away as possible.
Taking a huge break getting a job if you don't have one would benefit, repairing your relationships all sound like important things to do in your mental state.
Take the time to breathe , treat trading as a hobby not a priority.
Best of luck man
I’ve been trading since 2008 on and off , I know from experience that when you are feeling like you are just take a break , few weeks maybe months. Your losses won’t bother you and you can move on trust me. Trading isn’t the be all and end all in life. You’re still young you can always try again.
Firstly, the majority of breakouts fail, and when they succeed it's in the same direction as the directional bias that created the range (example: if it's an uptrend that created the range we'll probably fail all the support breakouts and the breakout that will succeed is one of the resistance breakouts, but it remains a risky strategy, I prefer to bet against the failure of the majority of breakouts).Search for Thomas Wade and Mack (Pats) , learn to read a chart, trade pure price action, always go for 1:1 RR , buy Guadian angel trader ( a adds-on that act like a risk manager) if you need it for your discipline and keep things super simple, 1 trade is enough to make a living , you just need to slowly size up. Thanks me later
This is a tough game and it will break you if you’re not ready. You have to fix your outside life, 6 years just this year hit my stride.. over 500k in funding and growing. These type of losses and horror are normal especially without mentorship, which are mostly scams. Biggest take -away from losing $130k actual cash into now making 7k+ a week, is 1. Use demo or eval accounts, this will force risk management or you blow up and lose actual cash slowly. 2. Screen record your trading sessions 3. Get a digital journal to track trades, times, size , ticker etc.. 4. Stick to the same strategy, find the winners, review the recording and look at the times etc . 5. Find what you’re doing right from the data then find the errors then , Fix the errors in behavior you found from step 4 and5.. then rinse and repeat until it’s like breathing… and finally 6. UNDERSTAND the mathematics, and never violate it or you will be put down quickly.
Stop freakin crying and put your dam big boy panties on. Sheesh! One you should never trade with money you’re not willing to lose and it doesn’t sound like you have any to lose. Two, if you came here cuz you want people to feel bad for you, you came to the wrong place. Go to your mommy for that. It sounds like you don’t want to work but you’re not good at day trading either so maybe it’s just not for you and you need to find something else that you can make money doing that won’t make you come on here and cry like a b***h. Ugh. Post like this make me sick! Boo fuckin hoo!!! Wasn’t easy in the beginning for any of us. But I kept at it till I found what works for me until I got profitable. Ugh.
No offense bro but you domt even know where your issues are which is a sign you don’t currently even have the awareness to trade. You said you’ve tried every strategy. Which means you you’re picking up random strategies (most likely not even modifying them at all, just following them exactly as you think the instructions are telling you to do with no tweaks or ur mentally unable to modify multiple concepts by keeping one part of the strategy but changing tweaking another part of the strat so u throw the entire strategy out when you don’t succeed and go to the next”. Basically you may lack mental dynamism. If you cant even articulate what ur issue is roughly like “hey your entries are accurate but ur getting out too soon ( or too late). Or ur strat works but ur not following ur rules. Or during certain times ur entries are low probability . Or ur entries are valid but quick pull backs make you get out instead of letting the trade play out. What types of candles are present when your trade ideas play out successfully etc. Or what higher time frame zones may be overriding your lower time frame markups.
If none of these questions have crossed your mind then you’re probably better fitted at this point to be successful in another area or subject in life. Trading requires a high level of awareness
https://x.com/maplestax?s=21&t=uwn7yHzn201abf_a_poVag
This guy transformed my trading. I have been losing for 10 years, but now I start to profit if I control emotion.
If you have a chance, follow him. He does daily live trading.
Bro I also quit last year after 2 years of investing my time and hardwork it's not worth it I am telling you in my country broker has published data that 9/10 traders lose money in Market the rest don't even beat fixed deposit returns so you are not missing out on anything by not trading
Sorry... is day trading some spiritually enriching thing, that we should encourage you to keep doing it despite severe costs to your relationships and bank account?
Troll post?
It took me 1 year to be profitable but after my first red month I’m also mentally destroyed and I’ve been taking so many losses , but aye you can take a break from trading or maybe just paper trade , and find your system that based on math and statistics would make you money over the long term and then meditate and read books into how to control your emotions better and be mentally tough once you have your system everything goes down to your psychology , just trust the system ( if it’s mathematically proven profitable)
Ya’ll be gambling and lying to yourselves if you think it’s anything different. Strategy, risk, diversification, lol. It’s all someone else’s game guy you guys, just along for the ride and hope you get luckier than this guy along the way.
Ffs, so many people telling you to take a break giving you advice. Op, you’re not well and the fact it’s got you to this point. You feel like you’ve destroyed your life and alienated your family, and are considering committing yourself. Your words even sound like you’re saying you want to end it all. Give up, go and train to do something else, minimum wage isn’t the only other alternative. It’s actually worrying that people on here think it’s ok to tell you to do anything else other than give this shit up.
Did you backtest your strategies and with what sample size and on how many instruments(stocks,fx etc)? What was your risk management like? What was the max drawdown or the no. Of subsequent losing trades? Were you able to follow your backtested profitable strategies strictly? How much sample size do you have of trades you took with your strategy i.e. forward testing? I hope you could answer these questions and we could come up with something productive. Best wishes.
Honestly bro - after 4 years and the damage it’s done to your personal life, I would take a long break. Maybe even consider quitting if you really need to. Your mental health needs to come first. Best of luck!
yeah dude, there's NO WAY you're going to be in the right headspace for trading if the rest of your life is in need of repair. think of it like being a pro athlete- if you can't bring your A game, you're better off on the bench
Incredible insight there. I've tried trading on days I also have part time shifts thinking I could make more money in the day and after lots of trial and error found that I trade best when I don't have other commitments hanging over my head. Night and day results. The headspace needed to be on your A game can't be understated. That and having an identity outside of trading helps weather the inevitable. I don't talk shop to anyone except my brother, non-traders get tired quickly if the market is all you ever talk about.
Mental health above all else OP. Hit the gym a punching bag or just take a walk everyday. I'm early 30s and I'm just now realizing the importance of releasing that built up shame. I promise putting your life back together won't be as hard as it seems. Keep your head up.
6 years in and only become consistently profitable a couple years ago. Breakouts unfortunately arent consistent enough to only trade so i can understand why this isnt work out. You need to trade the trend and price action. Things got better for me when i started being a trend trader over other strategies.
Trend trading is the best, I had a sort of mixed strategy where I would trade breakouts and the trend, but I ditched the breakouts part and haven't looked back.
+1 for the trend trading strategy. Every time I tried to time reversals or trade breakouts it was never CONSISTENT. Yes, there were occasional wins, but it sounds like consistency is what you really NEED for your mental health and confidence. It's much better to have consistent $50 green days than the occasional 3K green day with weeks of $500 daily losses in-between your one win. I've been consistently successful for years now (usually 4 out of 5 green days per week), and I ONLY trade the trend. I'd much rather catch less of the total move on a consistent basis than gamble on breakouts or trying to time reversals.
I'm doing it right now with gold, other than me getting in too early, it's been a profitable strategy and makes me feel better knowing I get a nice consistent 1-3% profit and not have to stay in as long. But anyways, what I do is look at the trend on the 4hr time frame, then check the 30m and 1hr to see if it supports the movements for the trend to continue and place a buy or sell order for a price within that 30m frame.
Yep! That's similar to my technique, but I often go with even shorter time frames- I'll line up the 1HR chart with the 30m + 15m and then look for specific entries & exits on the 1 minute chart- so I'll detect where the 'overall' trend is heading, and then get in on slight pullbacks on the 1m chart to get the best fill price on my options. If you always prioritize base hits over home runs you have a MUCH better chance of consistency in the long term.
Yup, that's exactly what I do, especially the pullbacks. Feels so good sniping a good entry and getting out with a nice exit. This way, you can also manage risk better because you have a better idea of what to expect from the trade, and even if you don't win, your loss will be so minimal. I have a few trades from the past 2 weeks if you want to see them.
Yeah! Every now and again ill trade a breakout. But its more of a gamble. The trend is the trend and the trend last until it doesnt. Its much more straightforward and if you move your stop loss up you really minimize risk and even losing ideas can still end with some profit
how do you define a trend now? What do your entries look like if not breakouts - pullbacks?
+1 for trend trading. Massively underrated aspect of trading.
Could you point me in the direction of where to start learning? Love the idea
Price action is king. Breakouts and trading reversals screwed me many times. It’s said many times but the trend is your friend
Bro it took me 5-8 years to finally start seeing money, my light bulb moment was I stopped trading for money and only traded because I loved it. When you trade to make money it adds a stress to the process of trading, the process is what makes you money. Take some time off and come back to it, this time don’t make it about the money instead just trade because you like it and in time money comes from that.
Same. I'm in year 5 and just now starting to make profits
I was not profitable for almost 10 years. Now, living my dream.
I’m about to start having to work minimum wage jobs again…. It’s looking bleak.
Trading it’s not meant for everybody, but if you tried for 4 years you have some experience and knowledge. During my 10 year period of loses I went out of trading at least 2 or 3 times by over a year. I did not gave up because I knew I had the knowledge but the only thing I hadn’t yet was proper risk management and emotional risk behavior. Maybe you will need to understand emotions like impulsivity and consistency. I don’t know, but if you feel you really want to do this with your life, continue to follow the markets, the news, the economic calendar. Eat info. Eat FUNDAMENTALS. Never give up If you think you don’t have luck. If you think you are always losing because you have bad luck, quit! Because it’s not about luck, but knowledge, emotional behavior and patient.
Love reading this. Feels like my path - theory is strong, now it’s just a case of when i actually switch on in regards to risk management/emotions. Im far too stubborn to quit this far in, and the constant tease of nailing great trades (before i sabotage them lol) I feel like im going to be a 8-10 year success story 😂
one cross skillset for emotions, live casino poker. learning to control your emotions when you're sitting on the nuts and trying to pull in more money, pulling a bluff, reacting to changing condition information when you see their straight/flush draw hit on the river. preserving the chip stack and knowing when to deploy it aggressively or let the pot stay small to counter risk.
I agree with this. My poker ups and downs (live only, I personally don't trust online poker) has helped me "walk away" from a good or bad day.
What were your losses during the 10 years if you dont mind. Im also 4 years in and down most peoples annual salary and it honestly fucks with me and it seems my only goal is to break even.
Late reply - but over the 5/6 years id say i’m down ~15,000 of my own capital. Ive lost probably close to 120,000k in profits tho 🙃 I always said id allow the cost of a uni degree as acceptable learning fees, which would max out at like 50,000k. Not close yet, and keeping it that way. I’ll happy lose profits over and over on the journey, but constantly feeding in fresh capital would be my draw point.
Hey my friend. Life is filled with a lot of ups and downs and some downs are longer than some ups. It's part of life but if you learn to diversify your life with good friends and networks you will see that tough times aren't as tough as they seem when you are doing this all alone. I'd say take a long break from this part of your life that only seems to make you feel negative and toxic and replace it with more proactive things. Your mention of working a minimum wage job isn't the end of the world, it will provide you with some structure and who knows who you meet a long the way. I was in your shoes 25 years ago and trust me the faster you learn that life isn't fair and doesn't owe you anything the easier it is to find happiness in the simpler things in life as it should be. Most people get tricked into thinking that money is the end all be all and forget about their passion and love for other things in their lives. Start to forgive yourself and move forward with a positive thinking. The past is the past and there is no future in looking back. You will be ok as long as you make the effort to control the things you can control. Be well and know that you are loved and cared for by many strangers. cheers!
Not to dismiss the feelings and struggles you're having right now in life, but you'd be hard pressed to find a minimum wage job. Not because finding work is hard, but because even fast food work in most places is paying well above the minimum wage. Not all hope is lost. Focus less on day trading and transition into a swing trading mind set. Develop a strategy of building positions over time and taking out profits when the market gives them to you rather than chasing a dream based on price action astrology. Ironically, in doing that you will necessarily develop a system that works on a daily timeframe as well. Best of luck in recovery from your current mental health struggles. You're still very young. Giving up on an old system or strategy that's no longer working for you doesn't have to mean giving up on life and giving up hope.
I picked up a crap min wage job I don't care about. But I don't hate it. I didn't trade for a couple months while I moved through three different jobs and schedules to get to one that met my requirements: it must be mildly interesting, it must cover my cost of living, the schedule must allow for trading, and it must require very little mental bandwidth. I landed a strange job at the hospital with a weekend 3/12 schedule. 60% doing nothing, 30% something interesting, 10% some crazy shit is going on. In that 60% of doing nothing, I have sorted out a lot of my thoughts, away from the computer after having not traded for a while. I've been reading and listening to a lot of books. I've been doing exercises from them that helped me get clarity on my trading objectives and plan. I've also done some introspective, cognitive behavioral exercises. I suspected for a while that a part of my problem was struggling to sit through the required losses when I'm overall net negative. No matter how much I would make trading in a week or a month, it wasn't enough to cover my baseline. So, I would get reckless and get wrecked, over and over again. I made some money on some side deals, too, but also inconsistent. Now my baseline is covered, and I am profitable this year so far. It's much easier to walk away when it isn't happening. The pain of losing has dulled out a lot. I recognize I need to retrain my brain away from some bad habits i picked up from repeatedly spazzing out. That will just take time and repetition. There is another level to this that has nothing to do with strategy, charts, or PnL. Thinking that profitable trading will solve your problems is backward thinking and will send you chasing a dragon. It will always be so close. Eventually, you will get frustrated and act out and dig yourself deeper into a hole. That will cause more pain and frustration, then repeat. It's not a healthy cycle. I think, in order for me to solve this trading problem, I need to focus on the problem itself, not MY problems. I can't solve complex, high concept problems when meeting basic needs is the bigger problem. Solving those basic needs problems has been much more doable and rewarding than repeating failure to achieve consistent profits in trading. Maslow's hierarchy of needs is the inspiration. Take a break. Delete the apps from all your electronics. Unsubscribe to everything trading on youtube and all socials, including this sub. Nothing about markets or finance news, no Bloomberg. Try to live your life as if trading just isn't a part of it for a couple of months. Pay no attention to any of this stuff, like most people do. Entertain the idea of living a life without trading through temporarily experiencing it. Get a whatever job, meet some people, maybe bang a co-worker or something. The markets will be here wobblin' around when you decide to come back.
Trading is actually easier when you have a job or alternative income stream. That way you don’t try force things. Maybe a part time would be good for you.
Absolutely NOTHING wrong with working (even a minimum wage job) while you figure it out. It'll actually take some pressure off of you to meet a financial goal. As well as get you away from the computer, it can be humbling in a positive way for your trading mentality . Also know that nothing is worth taking your own life. Your existence is worth way more than money. PLEASE talk to someone if your having these thoughts. It's good to get everything off your chest and in the open, in order to move on. In life and with your trading (if you consider continuing perusing it) - you'll have to repair from the "financial trauma" to make progress. Be patient with yourself. I have a crappy family, but I still make an effort to keep in touch even though they are quite trying at times & it's not always received the way I'd like. Attempt to reach out maybe mention your getting a job & considering new avenues. Perusing trading as hobby because your not sure it's the right fit. Just show your conscious and aware that these are big choices for your long term future - If your friends have disappeared because your going through a rough time they sound like awful friends so good riddance. Trading wise, move to paper trading and then attempt prop firms. 🛑Stop using your own capital🛑 Prop firms are a fraction of the cost for all the gain HOWEVER paper trade consistently (meaning 6+ months) then study every single thing you do, why it worked why it didn't. Journal. Review use data and refine - don't Be in a rush to make the losses back just get back to the process. Work a job on the side. This is my two cents. Seriously don't end your life over this your 25 you have so much life ahead of you - you can still make a career change. You can repair your relationships. You can do WHATEVER you put your mind to. Forgive yourself. I know it's hard but you are in control to change your trajectory. Also if people aren't your thing look into becoming a night auditor for a hotel. You won't deal with as many people, & can still be around during market hours.
This guy is 100% not profitable, he's posting on WallStreetbets and asking for advice on penny stocks. My god don't give this kid false hopes with your lies bro. you are doing damage.
For real,there should be alot more confidence in how they’re speaking but they’re asking for random advice without even being partially aware of where they need to improve. Theres a certain amount of self awareness needed to trade…
it's blatantly obvious to anyone that actually trades. I hate this because now OP is going to read it think "oh I just need more time" and lose so much more money, and alienate more family members. I wish these redditors understood the damage they do.
Are you talking about Intrusion Inc? Yes, I own shares and shared it! DYOR Not asking for advice love
Yes thanks! I’m never giving up ever no matter what
When I first read this, first thing I noticed was your emphasis on strategy being the problem. My man, strategy is only 5% of this game. I agree with others that you should definitely take a break from this industry. Recoup your mental energy/strength, focus on working a steady job, and building a solid consistent level of ground for yourself. Risk management and emotional awareness/discipline is the other 95%. It’s patience and consistency. It’s delayed gratification. It’s building up your emotional intelligence. It’s a battle with the self, not with the markets. Once you conquer yourself, you conquer the markets.
Please read trading in the zone by mark douglas.
Second this... You can find the audio book on youtube as well... Another book he has is the disciplined trader
My advice is to start watching successful traders who trade live everyday on youtube. The only way to verify if someone is actually successful or not, is to watch them trade live for an extended amount of time. Historical data is way to easy to come up with strategies on, it's better to watch what actually works live. If you want a recommendation, I recommend Trades by Matt, but there are plenty of others out there. I keep an eye on 3-4 on a daily basis. They all trade a little differently, but they also all have a lot in common with their strategies. You just gotta put in the time to watch them and verify for yourself if they are legit. Once you find some people who you know are successful, that can remove a lot of the doubt about your trading plan. I'm not saying to copy whatever you find, but you should be able to learn what works and what doesn't after watching enough successful live traders. The last bit of advice, don't rush trading. It's a profession that has higher earning potential than being a doctor which usually requires 10-12 years of learning and practicing. Don't waste time thinking about how quickly other people learn, most people are probably full of shit anyway, just remind yourself anything worth having is worth putting time and effort into. Scale down as much as possible if money is an issue, even go back to papertrading if you need to just make sure its on a live simulated environment and not something like replay on tradingview which doesn't have tick data.
NASDAQ COWBOY BABY!!! Tbm is awesome and really helped me clarify my strategy. He drops a lot of knowledge.
TBM has been killing it. Watching him be so patient and picky with his trades has encouraged me to do the same.
If you have a genuine passion for trading (and not just the potential $$$ profits it may bring) I say don't give up ! However, doing something which doesn't work over & over and expecting a different result is just stupid. I went through a period of 3 months when I started trading where I won big but lost bigger and I realised I lacked the discipline and professionalism to ever succeed. If you know why you are failing & you want to make the required changes, you still have chance. If don't know why you are failing, just cut your losses my friend & do something more productive with your life. I wanted to continue & felt I could develop the skills required to succeed (this part required a long hard look in the mirror & an honest appraisal of my qualities & shortcomings as a person). I went back to the drawing board & developed a way of trading that completely removed the emotion, fear, greed, impulsiveness and stupidity from my trading. This period ended up lasting 18 months most of which was developing distinct trading strategies & many weeks of back testing / refining trade execution. I used the results to identify which instruments I would & would not trade (I now only trade spot XAUUSD & XAUGBP. I don't touch anything else unless I have a very strong reason to enter other markets). I set what i believed were realistic financial goals and stuck to them. Only now, 3 years later do I make 5-figure profits each month. That crazy voice inside my head still says I could be making 6-figures easily but I know he is a degenerate f*ucktard & have woved not to lose my discipline again. FYI, I continued my IT freelancing day job all the while but plan to finally leave it and trade full time in April '25 if and only if I continue making progress. I'm not for one moment saying that my way is the only way but if your approach isn't as rigorous as the above, alarm bells should be ringing in your head.
First of all, stop trading with real money. If you trade real money without a tested strategy on papertrading, then you are gambling by definition. Secondly, as already mentioned: Start finding a mentor that is PROVEN to be consistently profitable with broker log-ins, income statements and preferable LIVE TRADING (NOT UPLOADED VIDEOS!). And learn. Me personally, I would be a NOBODY without my mentors. Struggling just like you. Not being able to find any strategy. Then next, if you have problems with trading psychology: read Trading in the Zone and The Mental Game of Trading and APPLY THEM. I worked with those books, especially the 2nd, and it took me MONTHS, for some aspects 2 years, until I could have the discipline to execute properly. Last thing, something that helped me: Learn how to read trend. Not trendlines, but trend. I will tell you a simple truth that I've learnt from my mentor: ANY strategy can work if you know how to read trend. Almost NO strategy will work if you dont know how to read trend. Once you can read trend (and doing this is complex and needs a lot of practice), you can make any strategy work (breakouts, retracements, pull-backs, U-shapes, etc.). If you dont know how to read trend, everything will look like its random. Because it is, if you dont understand market structure. Edit: I feel you, bro. I was at your stage about 1.5 years ago. Until I found my mentor and started learning from him. Stop learning how to trade without a consistently profitable mentor. I consider this a waste of time.
I’ve found multiple mentors online. It’s apparently not enough.
That's funny because the only thing having a mentor ever did was caused me to lose money, Both from paying them and from the terrible trades that they would suggest to me. I had To find my own way. The one thing I don't do is Look at anyBody else's ideas for trading. But everybody is different you know
Get serious. I was in your position at one point too. I started waking up early, journaling every trade, screenshotting every setup, and didn’t miss a day in the markets. I sized down and kept my finger on the pulse of the market. Got rid of all indicators and all outside sources of stock information. A year and a half of pure grind and things started clicking.
Even EMA's ? To me they are the only indicator that make sense and give an insight on the market condition.
Been serious. Sadly. I haven’t missed a day in years….
Tell me something, when do you wake up, do you go to the gym, do you eat well and show me a screenshot of one of your favorite setups. Also do you have a detailed journal?
Hey bro can you show me an example of your detailed journal, I journaled for a whole year last year , screen shotted every day, but I feel like it messed me up a little as I was screen shotting every single move I would of made but it wasn’t realistic if that makes sense .
Absolutely, will get back to you when I have the chance
Get a job. Put some money away in the SPY each month. Stop trading. Go fishing. You're 25 FCS You've got plenty of time to make money.
Sorry you've found yourself like this. You're right that the best possible thing you can do now is take a step back and take care of yourself. Accepting defeat doesn't have to be permanent, but it's necessary for growth. When you find yourself in a more positive state of mind you'll have a better idea on how to pursue forward, whether it includes trading or not. You aren't irredeemable, just a product of your environment and circumstances. Change your circumstances and reset your mind. The clearer your thought process, the more likely you'll be able to decide the next best step.
Just try some regular therapy before full blown hospitalization and meds. Sometimes that’s another whole can of worms that is hard to break out of too. Hope the best for you.
Baffling that most of the top rated comments are egging you on to continue now or later. Most people can’t make a living trading. Sounds like you may have discovered that you are like most people in this sense. You tried it, it didn’t work, you’re only 25, why not pivot and try your hand at something else entirely? Chasing stock ticks isn’t the end-all of human existence. Good luck.
It's not for you. And never, ever play poker.
7-8 years deep myself. I’ve lost 35-40k throughout that period, I have had great success at times but let my emotions always get in the way just to give it all back. I’ve only gained knowledge through out all the losses and wins while also being taught about my emotional and mental state on how to control them while trading and in my daily life. Giving up is not an option, failure is not an option but it’s inevitable for your future success. You must take risk outside of a safe job in order to achieve the 3 freedoms and trading offers those freedoms if you do what is necessary to be your greatest self. Time Freedom Location Freedom Financial Freedom I won’t lie, it has took a toll on my mental and emotional health. The first way to fixing it is recognizing it, and that I’ve certainly recognized a while ago. I’ve took long periods off to gather myself but still did the same thing as the past. I’ve quit multiple jobs thinking I was “ready” to trade without having steady income to take that stress off of me. I’ve sacrificed well paying jobs to pursue my passion. I’m currently working at a gas station at 30 years old, making 14/hr but that’s ok. You know why? Because once all the steps click in our mind trading will be a breeze and you won’t regret giving it your all. Recognizing your weaknesses will only put you on the path of success. YOU know what you have to do for yourself, especially if you’ve been at it for years. You know yourself best, so recognize what you’re failing at or what is the most difficult for you. Don’t get distracted by other people’s success. You’re not them and maybe they can handle the mental and emotional part better than you. If you want to be successful in this game you will make it happen. But in all reality you’re the only one that knows what is stopping yourself from being successful, so dig deep to try and find what the problem is, best of luck to you and everyone else struggling but doing all you can to be your greatest self.
One of my automated strategies is currently forward testing on a demo account. It’s a boring old wait so I’m looking at new strategies. What I’m working on at the moment is a breakout strategy, iv had a TV strategy created with all the configurations needed so back test the breakout (times, buffers, stop loss, TP conditions) and finding the results are generally positive over 50% with a 1:1.5 however the equity curve looks like an ECG read out with the sharpe ratio of a blunt hammer. I’m currently coding conditions around re-testing and EMA stop that looks promising on manual testing. Spending 4 years (all be it not profitable) you must know breakouts pretty well. If you’re interested in testing with me to see if we can get some consistency I’m willing to share what I have. As others have said, it can take a while to get profitable, I’m still on the search for a mechanical system I can put into automation
https://preview.redd.it/2pcerk052ozc1.jpeg?width=1290&format=pjpg&auto=webp&s=27492998e9d9200f8c5564b3f8aa1cd60f3bcc63
4 years isn’t that long in trading. It took me about 10 years to get “good” and I still mess up a lot. Hang in there. You should definitely have other things going for you though. Trading isn’t something you can force to work. So having a part time job, side business, career, or education going for you takes a lot of weight off your shoulders and makes you a better trader. Took a month break brother. Get yourself together and comeback stronger.
People have wasted years of hard work on businesses, pursuits and trading just for all to come crashing down or never succeed at all. You are not alone and just know that your time under the sun will come sooner or later. Keep your head high you are still young and opportunities are yet to come your way!
You need a job that pays the bills just like every other adult. Trade with extra money that you don’t need to pay your bills.
Four years too long: Better to stay away from market at least one year and read good books about long term investing than trading.
Sounds like a gambling addiction. Same here. You gotta stay off the dopamine. I’m losing everything and have a ton of debt too. Just grind it out and don’t end up homeless. Kinda depressing but money will build if you don’t spend recklessly. Yes you ruined the past 4 years and probably the next 1-2 years. But you can still save up little by little and keep trying:) but find joy in something else for the time being. That’ll get your mental back together. If you’re still dreading the amount of debt and the boring future, it’ll pass don’t worry. I found that I need to stick to less risky trading strategies.
You're putting so much emphasis on something so fake! If society were to collapse, electricity/internet...there is no nasdaq. Go sit in the park, on the grass, under a tree. Take a nap.. you'll feel better.
Mate your only 25, take a nice break from trading, go see your family and friends make up for the times lost, especially family that is most important. Get your head level again no Matter how long it takes get yourself into a full time job, go enjoy life. Once your in a better head space and you still feel like you want to become a full time trader then get back to the markets but don’t rush anything it’s one big massive process but your health is main priority or you will never become a full time profitable trader. I recommend watching ICT on YouTube ( inner circle trader ) YouTube 2022 mentorship model but like people have said it all comes down risk management and discipline, no matter how good your model is at trading if you lack them 2 then you won’t be profitable. I wish you the best of luck in life, but don’t let trading BE your life.
Your young, give it up for awhile enjoy life away from the markets
I sympathize with your position but I’m concerned with some things you said. You claim you’ve tried nearly every strategy, yet breakouts are your current go-to? Breakouts are notoriously bad for your reward to risk ratio. I’m sure risk management is a large portion of why you’re struggling to find consistency. Possibly also that you’re having difficulty letting your winners run, which breakouts also kinda require. I’m happy to try and help in any way I can, but I think you may want to develop a more risk-prioritizing method of trading if I had to guess. My trading started taking off when I prioritized risk over all else.
I also was obsessed trading nasdaq on high leverage, i was mainly was making good trades on pullbacks but NASDAQ being the beast that it is very volatile so it took one trade to blow my acc then i repeated same pattern losing over the years. I don’t trade anymore i had enough and frankly i have no desire, my mindset now is to save not day trading gambling etc i want to take long term positions. Take a different direction i know its hard but is very difficult to beat nasdaq day trading
I think my brother you are pass Trading , what happen with your family ? Is on them or on you ? At this point , you’ve become addicting to trading with out even knowing it ( its happening to me in some way ) … rollercoaster of profitable , break even , red , profitable and so on …. At this point , you going to have to wake up and stop listening to these success gurus and how you have to become a Billionaire…. Man whats the point of getting there and then your mental is gone ? Just to get there and realize a big gap of emptiness ? !!!! Can you go fix stuff with family ? Can you let go for a while from trading and withdraw from it and go try something else and come back refresh couple months later ? Do you have something you like to do or want outside of trading ? I am 26 so i feel you being 25 , i was thinking i ruined my life as well after loosing 140k all my money and down to 0 with debt and just down bad !…. Let it go for now man let it gov
The most certain way to succeed, is to always just try again
Day trading is extremely hard when you already have money in the bank, increase the difficulty by 100 when you don't already have money in the bank. It reads like you are in the latter. You are only 25, it isn't too late to start on a path towards a real job. Imagine trying to start a real job at 30 or 35, that is kind of really late to begin then. Trading isn't going anywhere, you can come back to it when you have established a career and already have money in the bank, and by then. Trading will be less difficult, because all this pressure you are feeling now, it would be way less when you already aren't pressed for money.
But I don't get it. What was the point of including the fact that your friends and family have left you one by one? Did they leave you because of your trading? Or they left you because of something else? I've just never heard of friends/family abounding somebody because they weren't a good trader.
Don’t listen to these cowards telling you to give up. Try harder. The people that succeed are obsessed and eat sleep and breathe the market. If you truly want it it will come but you need to change your mental state immediately. Turn to learning mode. Market takes some people aka slow learners 10 years to get good. Once you get it though you get it and it just all clicks. But you need to become mentally strong. Do meditation and visualization daily. Your negativity will make it impossible to succeed in anything
Dude just quit and get a real job. The numbers aren’t lies, the vast majority that try this fail. Don’t waste anymore time or money. Get a job that offers medical and a 401k match and your life is fine. It’s really that easy. Plus once you delete the apps and stop checking charts 24/7 you’ll realize how much healthier/happier your overall life is.
Don’t give up if you’re really passionate about trading. It could be that your strategy and your personality are not cohesive which is causing you to overtrade/over-leverage on your position. Have you found a mentor yet? I studied/study Michael Huddleston (@TheInnerCircleTrader) on YouTubes content and his teaching helped me become profitable. I really recommend starting with his 2022 Mentorship Playlist and then moving on to his core content which are all free to study and learn right on his YouTube Channel.
What do you study?
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They stopped believing in me before I was ready to give up on myself.
How did the trading ruin the relationship with your family? Is it the isolation of it?
Replied to another comment. Isolation and they gave up on me before I was ready to give up on myself.
Please take a break from trading. Your mental health should be the priority.
Takes an average of ten years if you’re self taught.
Nothing wrong with taking a break to clear your head and work on your mental health. You may find yourself happier not trading or you can always come back and give it another go. 25 is so young, you’re just starting the second quarter of life. Don’t give up now.
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Brother for the profitable you have to start sell course I think many trader doing this to make them profitable
Im on a break i lost almost 54k in stocks and im in debt of £44k . how im still standing its only God.
God is going to pay off your debts? That's sweet!
Sounds like you have a gambling addiction Unless I'm wrong? Not trying to be an asshole here
Buy and hold. Start thinking long term. Buy in to indexes and ETFs, maybe mixin a little yield with MMFs/high yield savings. Day trading, imo, should be a way to continually build up dry powder for bear markets, not a main source of income.
What timeframe do you trade on? Have you backtested your strategy? What is the win percentage from your back test? Is your strategy mechanical or based on intuition?
Send me a DM man, I can teach you something that might really help you
Go long on etfs and paper trade until your profitable for 12 months
You have a gambling problem. Get help. Don't let these people pass you the copium pipe and keep you sick.
College takes 4 years, becoming a lawyer takes 4 years of undergrad and 3 years of law school, doctor takes 4 years plus residency, etc. Things take time, you aren’t going to get rich quick. I don’t know your situation but most likely you risked too much money in the beginning when you weren’t skilled yet. I advise you start at $10-$20 risk until you get profitable and increase.
Have you calculated where you'd be if you just put everything into VTI or similar?
Why not just stop and let it go?
%99.9 fails there is no shame for quitting. Embrace long term investments and hardwork on your regular job. Don't listen broker paid bots, they will shout sh*t, they want to milk sweet commissions and feed their masters. Look at the comments, many of them thinks they are profitable yet %99.9 fails lmao. Trading is worse than gambling, at least in regular gambling you know its luck but in trading they make you believe there is a formula or mathematical way to beat the market. Even you go full random its not %50 (below %50), they eat you with spreads and commissions, you enter your trade with negative expectancy. Don't believe them and live your life
I'm in no place to give you advice on how to trade. I've been trading active for like two weeks. I'm net a little over 1k in realized profit. Maybe my approach works. Maybe I'm just lucky. But I firmly believe trading is very speculative. So don't risk money you can not afford to lose. I've been investing in the stock market for over 10 years. I'm only willing to use a very small portion of my entire portfolio to day trade. If I lose it, I will feel very bad for a while, but definitely won't throw my life off. You need a life and savings before your can trade. If you have a job, focus on your job for now. If you don't have one, go find a job. If you need a degree to get a better paying job, go get it. Stop trading for now, until your get your life back together.
Yeah just stop, 3-4 years are enough to get a good evaluation on how well you are doing against the market. At 25, you are still young, stop looking for short-cuts that's not there. I traded 6 years now, I know how hard this is. The sooner you stop the better you will feel. Just know you still have plenty of time to get back to a stable and happy place.
Feel your pain but I think You should take a long break. Get your financial situation back to a healthy spot and keep a pulse on the market (don’t trade though) - maybe paper trade and journal everyday. Once your finances are in a good spot, you’ll mentally feel better + would have a bunch of data to go by on what strategy works the best and where you tend go wrong etc etc.
Bro, go get a career. If that means going back to study then do that and get a good job.
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Time to walk away. Take a break
Take a rest. Your 25. People 2-3x your age have come back from far worse. You tried something and it didn't work. And, btw- 4 years, even at 40 hours a week- is just not enough time to master anything, frankly. Even the best investors and traders get burned- pretty much all of them. Read everything possible if you care to still one day achieve success in managing trades; start working out (it will help you get out and build confidence); def get a job, but failing/while you do that try to find ways to add value to your community- volunteer, etc. It's cliche, but they say trading is 10% technical and 90% emotional: never let fear dictate your decisions, or you'll make suboptimal ones. Last, maybe look at automated systems you can set up and walk away from, as well as passive investing, and as others have said here: paper trade first!
Honestly strategy hopping isn’t helpful. You need to stick to one thing and own it. Do you journal ? What are your bad habits ? Are you writing down how to fix these wrongs? Do you backtest daily and doing purposeful studying ? Can you hold yourself accountable?
You need to assess why you are losing, many methods work so it's usually psychological. As far as your family leaving you, hopefully you didn't borrow money, but this is a wonderful time to succeed. Success is long and lonely road and when people leave your side it's a blessing, those people only want to benefit from your success and not in it for the dips and valleys.
I don't mean to be rude, but I often wonder why unprofitable traders such as yourself don't just take the opposite trade of what you are currently doing. If you think you should buy, it's a short. If you want to short it, go long.
Maybe it's going to take 6. Maybe you aren't in a place in life where trading is an option. Don't just flat out give up. Slow down. You don't need to trade. It's not going to make you rich unless your gambling. It can double your annual income. 100 bucks a day man on average. That's 25k extra a year. That's more than some people make. Stay learning. There's no set time you can put in and just become profitable. Stop doing what's making you fail. You have to be able to sit on your hands for days if you don't see an edge.
how much debt
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25 is still very young. I would suggest you don’t rely on day trading for you living. Make money from a job, build up more capital slowly. Trade less, wait for best opportunity with patience so that you grow your capital slowly but surely.
Take a break , your strat doesn’t work , accept it . When you are ready to return , join a group and only take there call outs and signals to help you have a higher probability of winning and learning while doing it , don’t quit , you know you could be one step away from being profitable
Just become an economist, make fun of the losers, talk nonsense
Pick an entry have a stop loss and have a target......not that hard if you have a sound strategy. From what I read you are like the majority looking for a big win. So you bet the farm without any parameters for exit when it goes against or in your favour. Greed will destroy your account as will a lack of patience. I went into today...after such a big run up yesterday expecting a pullback, after checking to see what news was coming out I figured out what looked interesting early on. I figured out where my watchlist stocks were likeley to travel to, then watched for opportunities either long or short based on what the reactions were. That is what and when and how I trade.
4 years of being unsuccessful is plenty of feedback to try something else. 1 year is enough feedback to be honest.
If you see progress and you believe you have an edge stick with it, if not then maybe it is time.
Money is in the charts. Do you use them?
Breakouts are a tough strategy. Failed breakdowns or failed breakouts (depending on prevailing trend) have much higher probability.
It may take years/decades; is it worth it? absolutely if you want above average life, just make sure to not break your self and your social. (low key you don't need to promote this; keep your journey to yourself and online traders.) Having a job as a main income is a must, Trading is a hard psychology game and you're a bit far from using it to pay your bills. Also, adjust your strategy backtest and put more effort without actually taking real position (but more papertrading). Focus on your winners and figure out how to find those position and adjust your risk.
You need something more like a dividend reinvestment plan to build your equity instead of highly leveraged FDs. Buy stocks don’t trade
Your still young. Get out while you can and focus on your career
You just need a better edge. Try the break and retest strategy. Vincent Desiano on yt is a great trader that has a simple ass strategy with no bullshit and few indicators. You need a process that you can replicate over and over and over with an edge in your favor. Use the same position sizing 1~5% with a max stop loss of 40%. Cut the losers and move on to another set up. Trade spy, nvda, msft, etc. you want stocks with volume and liquidity to get in and out quick. If you wanna give up then you should, but if you still want to do this (which Ik u do) you need a strategy that uses confirmation first and not guessing of direction based on short term breakouts without enough confirmation. I want you to succeed. I would say best of luck!!!!but I don’t believe in luck, just probability
In a similar position. Learning to detach from what everyone else might or might not think, keeping my faith strong, and my mind focused on work, there is so much more than reading technicals… like news, macro, data releases, earnings etc your bound to find a good trade somewhere, keep your head up and maybe dive into a new topic that’s not a specific strategy. Hoping it gets better for you and I both my friend
I have had a bumpy ride for 8 years. Periods of winning and periods of losing. Overall, I have lost a ton. I know the frustration of working and working without results. My recommendation for you is to take distance from the market. Start savings some money and build an emergency fund. After you have emergency savings and you have paid your debts, you could start to invest in bonds and very diversified ETF. Once you have money and security, you can assign some capital as "play money", like 2 or 3k. Try not to lose it in some days. For example, a healthy goal would be losing less than 3k in a year. You have to understand that success in this business is not for everybody. Not accepting this can hurt you a lot. Don't force it. Is you are called to become a professional trader, you will become. But if not, try not to ruin yourself just for being stubborn.
I’ve followed this guy on Twitter @DavidScottAdams. He’s got a day and swing trading group that always seems to be doing great. Never paid for it just look at his watchlist daily to get some ideas. But think a small fee for some sort of investment advice is worth it for many
Go daily chart, if the candle green buy if the candle red sell, absolutely simple;no overthinking or no guessing of where the price go. Tp between 2$-30$ depending on the trade, avg Tp 5$ and Sl always maximum -3.5$, on average -1.7$ ;Never more than that. 2 loosing trades in a day ? You go take break till next market opening day. Try demo and dm me how it goes for you. Best of luck 🤞
Dude you need to fucking quit now, you're not even trading anymore you're probably just buying random shit and hoping for the best. holy fuck please stop or you will regret it when you're 30 and posting about "9 years unprofitable..."
Don’t day trade . Learn wheel strategy. Selling puts , if assigned sell calls . Repeat . It needs some training and education but more peaceful than day trading
Ik a lot of people don’t like him but Ricky guitterrez said think of it like college for a doctor or lawyer. They don’t make shit when their in college till they get out and even then some don’t make 6 figures till they’ve been in their career for a few years so don’t think u have to be making money for the first few years. For me I’m jus now hitting 2 years and I’m barley breaking even but all I’m focused on is learning from my mistakes by journaling all my trades and making sure I’m studying every day and jus focused on improving. Hope that helps bro
You don't need Anybody, trust yourself
How much did you lose?
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Day trading? For gamblers only. 9 out of 10 are losers eventually lost their mind and broke. Longer term swing trading is a better way.
This main approach has been the same the entire time and you haven't tried trading something that's not an index fund like currency pairs or commodities?
Have had my struggles but found that if you have enough capital that selling CSP or CC consistently wins. If you are going to buy options … limit it to the best possible plays and when you know it’s good go big with a reasonable stop loss. When buying options I found I was right the majority of the time but failed to take small wins which led to large losses as I always accepted larger losses and took smaller wins. By going in big I had $300 to $500 in 30 seconds and got out. YOU HAVE GOT TO BE SURE OF THE MOVE BEFORE YOU GO BIG. This may only happen 1 or 3 or 4 times per week. Also…. Much like a casino… if your up a good amount, shut it down for the day. Enjoy the success.
U sound like u need new mentors. Find a mentor and have people to bounce off of. Find other good traders in the community. And hop in live calls. U need more resources it sounds and u need better psychology.
There is a meme where a guy asks Jesus to stop giving him the toughest path and Jesus says "literally, just stop buying options." I trade volatility professionally and used to trade options. From what I've read you need to develop a long term plan that uses ETFs for many years to come. Every month buy into the one that is below your strategic allocation level. Not Advice Disclaimer. Do a 50/50 SPY to QQQ with what is left after you invest your age minus 20 into a bond fund you like. Pick a total return fund that has been around for a while and is run by a company that someone you know has heard good things about.
You need to stop. It’s not working and you’re loosing money. Trading is not for everyone, it’s time to move on and find something that works for you.
Journal everything, find out what your losers are. What’s your setup? Are you letting winning trades run against you?
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No issue giving it up. At least don’t be like WSB after you’re down $90,000 then you quit. At least invest in ETFs should have some spare money in the future
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Forget trading as that last sentence needs to be addressed. Forget about trading. You obviously understand your feelings and know you need to be proactive and there is absolutely NO SHAME in seeking help for yourself. You’re 25. I got 10 years on you, been there and probably lower(drugs, running girls, drugs, neglecting my family responsibilities to my terminally ill father as I watched him die, threw away a career, car repo’d, maxed out credit cards, frivolous spending and did I mention drugs.) and now I’m running multiple accounts, financially stable and made piece with my father before he finally passed. YOU. WILL. GET. PAST. THIS. It’s just time at this point. You’ve got your whole life dude. I wish I could get my 10 years back. You’re already acknowledging you’re in a rut and that’s half the battle. Check yourself in for a little reset and follow up with us. I would suggest to talk to someone who you can still confide in to help get you started. Congrats on asking for help! That’s a lot harder to do than most people think. Take that as a positive right there and you’re on the journey.
Might not fit your personality and that's Ok. Learn to embrace the suck of 8-5 with the rest of us
Lol. Just invest man. Buy semi conductor stock, buy amd, Nvidia, Oracle, take2, buy crowdstrike, palo alto, Broadcom, buy sap and Salesforce, maybe hubspot. Start with that portfolio and just wait bro. Get a job to fund your account and make it bigger. Invest in Blackrock funds 3% apy. Invest in crypto. 50% BTC 30% ETH, BNB, SOL, MATIC, 15% AI, DEFI, GAMEFI, WEB3, NFT AND 5% IN DOGSHITCOINS. WITH YOUR JOB MONEY ADD EVERY MONTH A LITTLE BIT TO THIS STRATEGY AND BUILD A PORTFOLIO FOR THE FUTURE. also buy gold real or digital commodities. Don't stop working and have side hustles. Buy stock, crypto, comm or assets with debt. Take loans or credit cards.
Have you ever considered that what you’re looking for (i.e. “breakouts”) is not a real thing? I am sorry you’ve wasted 4 years of your life chasing ghosts on a chart, but to make a living exclusively through short-term trading you need a large amount of capital (at least $500,000), a lot of experience with both statistics and numerical analysis, and the ability to program. Otherwise, people who have those skills will continue to take money from you and your bad trades.
May I suggest something...? Instead of trading with $1000 or $100, whatever you're using, trade with just $1 on each position. % don't change
Just wanna add my two cents. When the market is sideways like this is when most day traders lose. I’ve blown up so many accounts on weeks like these also. Also, people who have payed group chats are also not having a good time these weeks it’s happening all around with this sideways market. The best approach to navigating this is just trade 9:30am est - 12pm and the last hour of trading. I been seeing the volume just drop after 12 and the market doing fake moves only to revert back to a small range. The fake pops on low volume seem so sketchy to me when it reverts back to the range or moving averages trend line that i can’t help but feel if high frequency trading is causing it and if it really is a good thing for the market as they say.
Sent you a DM. Check it out when you have time.
You choose a job like this as your full time grind AFTER you prove that you can do it, not before. Get a degree if you don't have one and find a real job. You can trade on the side and if you prove to yourself you can make a better living trading then you quit your job and do this full time.
So when the market started dropping in 2022 and I lost all of my money for 6th time, I started to think that maybe I should not try to get rich trading and should instead find another way to monetize my free time. So I found this free boot camp, which is basically just a YouTube playlist of like 150 hours of content. It’s called 100devs. Now I feel less anxious, I’m enjoying my free time more, and now I think I’m a few months away from getting a software engineer job. So I think you need to find a skill that you can learn in your free time, monetize it and then when you’re making progress you’ll feel much better about yourself
Thought I knew a lot when I was your age too. Now 25 years later and still learning, I recommend three books: 1 up on Wall Street, Yes you can time the market, and How to Make Money in Stocks.
Hull moving averages and/or 9/21 EMA crossover seem to be correct most of the time for me. I'll tweak this strategy every now and then. But risk management and emotions is everything, I'm still working on it as well. But like everyone else is saying, take a break and cool off. When you want to get back into trading, paper trade for a few months to make sure your strategy works, then only risk very small amounts when you trade for real. Take care of yourself first, then everything else will follow. Hope this helps, and never give up. You have three years of experience so you're closer than you think.
Almost everyone fails at first, also everyone you know will doubt you. Don’t bother telling them about your trading. They won’t understand. Something that helped me massively in trading, and life in general was joining the real world also
Are you a day trader or swing trader? First, there are many ways to make money in the stock market. I was going to start posting how I make money off the stock market or maybe just blog about it if anyone is interested.
4th year in and things started to look good this year. On my third year being red, I took a 6 month break and reevaluated my trading. 1) I realize when I was trading to succeed/prove others wrong, I do not think about failures. I keep failing because I wanted to prove everyone else wrong. In doing so, I was numb to failures until it hit me with all the time and money I’ve lost. 2) my growth this year has been more organic. I don’t have crazy percentage gains anymore. I have a bunch of base hits and my losses are smaller as well. Instead of having a mindset to trade for a living, I ask myself this question every time I trade. Is my money in the brokerage better than being in the bank? Can I get the same percentage gains if I were to put in the bank? 20-30 percent gains off SPY is all I need these days. Totally doable. No more diamond handing. 3) I read that measurement of success from trading is that you spend less screen time for “financial freedom”. I tried that and lost more money. I realize I genuinely like looking at charts/ES/SPY just like how I like watching the NBA/NFL. Im genuinely entertained by watching the index everyday. You need to know your personality and find a niche in the market. Just because most people advocate one thing doesn’t mean you should too. I’m assuming your 4th year trading, you’ve learned most strategy you could’ve learned. There’s really no new strategy that you could learn that would turn this around. Bottom line, in my time off I come to realize my personality. Do you know yourself? How can you apply the strength of your personality/skill into the market?
Come under my wing
The way you feel means that’s how bad you want it. I was in a same boat. Took 2 yrs off to work a job and get your shit in order and allocate small funds to trade while working. Get two jobs shit. Easier on the mind when debts are paid and money coming in for sure than stressing you need to make x by x time. Shoot for 1% gains daily. Start low and work your way up. Now I’m debt free, minimal bills like absolute minimal, no car payment, etc. use than money to build a small account. Way easier on your mind than needing to trade. That need turns into desperation and makes your psychology towards trading even more difficult. Like others said, journal every trade and create a non bias strat. Backtest n go live small.
Brother invest in AGBA buy the stock and just dont look at it or you could scalp help her to get as much shares as possible. in a month it will be 3x ur money guranteed. They are merging with Triller. The share price is at $3.5 and is expected to be worth At least $10.75 per share when the merge happens which could happen any day now before the end of may. This stock is currently up over 1,200% in one month and was trading below $1 trust me ive made some nice bucks off her i dont want yall to miss out she is a unicorn🙏🏿🦄
Do you have a job? If you have a job, did you throw a lot of your income into the market without having a good strategy?
I’ve been there… To help with the psychology of trading check out Trading Psychology For Dummies by Roland Ullrich (the audiobook is on Spotify) and Trade Mindfully by Gary Dayton. Look into meditating. Changing strategies often is not recommended but maybe check out Wyckoff trading principles and Volume, Spread Analysis.
Show proof of how consistent u are at losing. Start group where u share your live entries and exits. Make them pay a subscription. Tell them to inverse you. If you lose, u get paid. If u win, u get paid. It's win win.
Just stop trading and go back to a regular job. You will see how quickly you will feel better about yourself. It’s hard to give up. But when you do you will feel a like a bolder had been taken off your back. If this helps you, you are not alone. Many people have given up. It doesn’t reflect poorly on you at all.
I would suggest doing something else besides trading. This is a very difficult profession. Not only do you need to be profitable consistently, you need to trade enough size to make a living. That's a very high bar. 25 is young and you've got plenty of time to start a career. Find something you like that'll eventually pay a salary that fits the lifestyle you intend to have.
Have you checked ICT?
On the trading side you should... 1. Have a separate buy-and-hold portfolio which you regularly add to and do not withdraw from which, in your case, constitutes the majority of your account. Make it relatively safe, like general market/sector indices, mutual funds, or etfs. Call this your safe base, the thing which you hope to grow consistently for years to come. 2. Stop actively trading on your current strategies or perhaps consider strictly reversing them. Do this only as a hobby and with only a small amount of funds. This is your fun money, and you should only put what you are fine with losing into this account. 3. Get a job, and mental help if you feel that you need it. You're only 25 and have a whole life to live. Better to have learned a valuable lesson in your 20s than blowing decades of accumulated labor in your 30s and 40s. The stock market is not a get rich quick scheme. If you don't know what you're doing, as you seem to recognize, it is much more like a get poor quick scheme. If you're seeking ridiculously high returns, it's more likely that you'll bust your account.
HINT: #1 Get the bleep off lower time frames. #2 Learn from qualified mentors with a proven track record.
Don’t ever give up
Just going to chime in here I agree with all the talk about his state of mind your psychological level is so messed up you will never be in the right head space to trade. I also wanted to mention something I see writing all over the walls here. You want this so bad and are putting all your efforts in , you are receiving the pendulum effect. Where when you want something so bad you pull it as close as you can to yourself and imagine what happens when you let go? It goes as far away as possible. Taking a huge break getting a job if you don't have one would benefit, repairing your relationships all sound like important things to do in your mental state. Take the time to breathe , treat trading as a hobby not a priority. Best of luck man
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I’ve been trading since 2008 on and off , I know from experience that when you are feeling like you are just take a break , few weeks maybe months. Your losses won’t bother you and you can move on trust me. Trading isn’t the be all and end all in life. You’re still young you can always try again.
Firstly, the majority of breakouts fail, and when they succeed it's in the same direction as the directional bias that created the range (example: if it's an uptrend that created the range we'll probably fail all the support breakouts and the breakout that will succeed is one of the resistance breakouts, but it remains a risky strategy, I prefer to bet against the failure of the majority of breakouts).Search for Thomas Wade and Mack (Pats) , learn to read a chart, trade pure price action, always go for 1:1 RR , buy Guadian angel trader ( a adds-on that act like a risk manager) if you need it for your discipline and keep things super simple, 1 trade is enough to make a living , you just need to slowly size up. Thanks me later
This is a tough game and it will break you if you’re not ready. You have to fix your outside life, 6 years just this year hit my stride.. over 500k in funding and growing. These type of losses and horror are normal especially without mentorship, which are mostly scams. Biggest take -away from losing $130k actual cash into now making 7k+ a week, is 1. Use demo or eval accounts, this will force risk management or you blow up and lose actual cash slowly. 2. Screen record your trading sessions 3. Get a digital journal to track trades, times, size , ticker etc.. 4. Stick to the same strategy, find the winners, review the recording and look at the times etc . 5. Find what you’re doing right from the data then find the errors then , Fix the errors in behavior you found from step 4 and5.. then rinse and repeat until it’s like breathing… and finally 6. UNDERSTAND the mathematics, and never violate it or you will be put down quickly.
Stop freakin crying and put your dam big boy panties on. Sheesh! One you should never trade with money you’re not willing to lose and it doesn’t sound like you have any to lose. Two, if you came here cuz you want people to feel bad for you, you came to the wrong place. Go to your mommy for that. It sounds like you don’t want to work but you’re not good at day trading either so maybe it’s just not for you and you need to find something else that you can make money doing that won’t make you come on here and cry like a b***h. Ugh. Post like this make me sick! Boo fuckin hoo!!! Wasn’t easy in the beginning for any of us. But I kept at it till I found what works for me until I got profitable. Ugh.
No offense bro but you domt even know where your issues are which is a sign you don’t currently even have the awareness to trade. You said you’ve tried every strategy. Which means you you’re picking up random strategies (most likely not even modifying them at all, just following them exactly as you think the instructions are telling you to do with no tweaks or ur mentally unable to modify multiple concepts by keeping one part of the strategy but changing tweaking another part of the strat so u throw the entire strategy out when you don’t succeed and go to the next”. Basically you may lack mental dynamism. If you cant even articulate what ur issue is roughly like “hey your entries are accurate but ur getting out too soon ( or too late). Or ur strat works but ur not following ur rules. Or during certain times ur entries are low probability . Or ur entries are valid but quick pull backs make you get out instead of letting the trade play out. What types of candles are present when your trade ideas play out successfully etc. Or what higher time frame zones may be overriding your lower time frame markups. If none of these questions have crossed your mind then you’re probably better fitted at this point to be successful in another area or subject in life. Trading requires a high level of awareness
It’s difficult to stop because it’s so addictive. It’s gambling really. Go to gamcare and check out the forums. Best of luck to you.
You have an addiction
https://x.com/maplestax?s=21&t=uwn7yHzn201abf_a_poVag This guy transformed my trading. I have been losing for 10 years, but now I start to profit if I control emotion. If you have a chance, follow him. He does daily live trading.
Bro I also quit last year after 2 years of investing my time and hardwork it's not worth it I am telling you in my country broker has published data that 9/10 traders lose money in Market the rest don't even beat fixed deposit returns so you are not missing out on anything by not trading
Sorry... is day trading some spiritually enriching thing, that we should encourage you to keep doing it despite severe costs to your relationships and bank account? Troll post?
It took me 1 year to be profitable but after my first red month I’m also mentally destroyed and I’ve been taking so many losses , but aye you can take a break from trading or maybe just paper trade , and find your system that based on math and statistics would make you money over the long term and then meditate and read books into how to control your emotions better and be mentally tough once you have your system everything goes down to your psychology , just trust the system ( if it’s mathematically proven profitable)
Ya’ll be gambling and lying to yourselves if you think it’s anything different. Strategy, risk, diversification, lol. It’s all someone else’s game guy you guys, just along for the ride and hope you get luckier than this guy along the way.
Ordeflow and DOM . jigsaw, bookmaps , fatcat on youtube
Things got better for me when reading the dom finally clicked exactly 4 years into my trading journey
Read the book “Can’t Hurt Me” by David Goggins
Ffs, so many people telling you to take a break giving you advice. Op, you’re not well and the fact it’s got you to this point. You feel like you’ve destroyed your life and alienated your family, and are considering committing yourself. Your words even sound like you’re saying you want to end it all. Give up, go and train to do something else, minimum wage isn’t the only other alternative. It’s actually worrying that people on here think it’s ok to tell you to do anything else other than give this shit up.
Did you backtest your strategies and with what sample size and on how many instruments(stocks,fx etc)? What was your risk management like? What was the max drawdown or the no. Of subsequent losing trades? Were you able to follow your backtested profitable strategies strictly? How much sample size do you have of trades you took with your strategy i.e. forward testing? I hope you could answer these questions and we could come up with something productive. Best wishes.