The Price of Success :How Much Did You Lose Before You Started Trading?

As a day trader, how much did you lose before you started to turn a profit?

Well I didn’t have much to begin with. I funded a $5000 account after I felt some confidence from reading an ebook on how to trade the Mini Dow (YM).

I didn’t know what I was getting into and I learnt it the hard way. Within 3 days, I have lost 60% of my capital. I was shocked and scared. That is when I knew that I knew nothing about trading and whatever knowledge I had was only scratching the surface.

I didn’t want to leave trading all together because I knew that there was some hope in there and it was somewhat exciting to be out there trading the Mini Dow futures. I didn’t know about Forex then, I only found out about it when I started searching for more information on the web.

I began to take an interest on Forex afterwards and tried so many strategies that were created by other traders and I tried to make my own by using the tools that were available on the trading platform. Nothing worked for me for a while. I blew so many demo accounts trying out new strategies. Though it took me a long time, it was an awesome experience and I learnt a lot of things along the way.

After 5 years of just learning forex, I started creating my own strategies and making my own analysis tools and now i am looking back ( after 14 years of trading so far) the struggle was real but it was worth it.

Now I kind of know how the market works.

I know that it follows some kind of rule and the market may look unpredictable to most of us, but it really isn’t. Once you know how to handle the volatility, you can sit back and make some money.

If i make a loss, I don’t really feel bad about it like i used to when i was just starting out and I don’t even try to rush into recovering it because it is not the right way to deal with your losses. You just have to concentrate on becoming a better trader and try to learn from your losses. See why that loss happened and how you can avoid it next time.

If you keep at it, you will evolve over time into a knowledgeable, profitable confident Forex trader .

• SUMMARY

The narrator shares their personal experience as a day trader and reflects on their journey from initial losses to eventually turning a profit. They started with a $5000 trading account, fueled by confidence gained from reading an ebook on trading the Mini Dow. However, they quickly realized that their knowledge was limited, and within three days, they had lost 60% of their capital, leaving them shocked and scared.

Despite the initial setback, they were determined not to give up on trading entirely. They discovered Forex while searching for more information online and decided to explore it further. They tried various strategies created by other traders and attempted to develop their own using the tools available on the trading platform. However, they faced continuous challenges and blew several demo accounts in the process.

Despite the struggles, the narrator considers the journey to be an invaluable learning experience. After five years of learning and experimenting with Forex, they began creating their own strategies and analysis tools. Now, reflecting back on their 14 years of trading, they acknowledge the difficulties they faced but believe it was worth it.

Over time, the narrator gained a better understanding of how the market works. They recognize that although the market may appear unpredictable, it follows certain rules and patterns. Understanding volatility became key to their success, allowing them to make informed trading decisions and generate profits.

One significant shift in their mindset was learning not to feel discouraged or rush into recovering losses. Instead, they focused on becoming a better trader and learning from their mistakes. Analyzing losses and identifying ways to avoid them in the future became an integral part of their growth.

The narrator concludes by emphasizing the importance of persistence and continuous learning. They assure aspiring traders that with dedication and time, they can evolve into knowledgeable, profitable, and confident Forex traders.