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Old 02-21-2007, 12:03 PM
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Re: From losing to breakeven to winning

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Brown, how did you get to the place where you are now? You mention you don't trade like others. How did you find your stride and how did you know when you had found it? I'd love to hear that story

The reader's digest version - I was a stockbroker prior to trading. I loved the markets and wanted to tackle this beast on my own. I left my job after 4.5 years of building a book (not easy to do) and have been trading full-time since. I haven't (and can't) look back.

Here's why I think some guys make it and some don't:
  • Treat this as a full-time business.
  • Have cash reserves to get you thru the hard times.
  • Realize this will take time - probably much longer than most can stomach.
Like most new traders, I looked at everything and bought A LOT of stuff. Looking back, I laugh now, but I think it was necessary in the beginning. Since there was not a bullet proof method of trading (unlike being a broker), I had to prove to myself that I could do this.

I 'found' myself after looking at just about everything out there and deciding on what makes sense to me. Personally, I love candle formations. I think a candle can tell you so much about what is going on in the market than bar charts or other charts. And the beauty of it is - what I see as a 'hammer' you may not. I think intra-day trading requires flexibility and the ability to adapt.

It's not easy, we all know that, but for those that can do it, the rewards are incredible.

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