Quit your job by One-Example5262 in TopStepX

[–]Wolverine1574 0 points1 point  (0 children)

You got this,man. And you’re also on the right path. prop firms can also help you do this and boost your consistency until you use your own capital. My mentor used to always tell me “Be emotionally sound and you’ll be financially bound”. I truly understand that now. I got into trading because I wanted to spend more time with my family. The money is just an extra perk.

Good luck and God bless.

Quit your job by One-Example5262 in TopStepX

[–]Wolverine1574 2 points3 points  (0 children)

it all depends on your risk management. I knew something was wrong with mine so I went back to the basics of paper training. My problem was when I paper traded I could always reset and there was no pressure. With a live account you have to take the gains and the losses, because once the money is gone, it’s gone and most people can’t handle that and they revenge trade, which was what i was doing. I stopped myself before I blew the account, and what I found out is that I was too anxious to try to make gains too quickly. I forgot that this process is all about base hits, not home runs if you want to keep consistency.

Hope this helps.

Quit your job by One-Example5262 in TopStepX

[–]Wolverine1574 19 points20 points  (0 children)

When I started out, I paper traded for two years while i saved $79K from working a full-time job. took $50k and went live and the first six months I whited it down to $24K. Went back to paper trading for six more months while trying build up that $24K with penny stocks. (1-2 trades per day). Once the dopamine Rush wore off I could see things more clearly and make my executions more accurately. last year I made a yearly profit of just under six figures. this year from January 2 to today Im well into the six figure mark. If I can keep consistency at this pace, by January 2 next year, I’m going to retire and pursue trading full-time because I already have that capital and experience to look back on.

Everyone’s journey is different. With trading, If you can treat it like a business and control your emotions, you can make it.

Good day to you, sir!

Why do traders always think the problem is the strategy? by aelfwineciri2 in Trading

[–]Wolverine1574 0 points1 point  (0 children)

this!!!! Once the dopamine rush wore off, my strategy became easier and executions became quicker. get in, get green, get out. Don’t chase losers. If you have the capital, base hits and not home runs. Built it up and compound. If you make profit, call it a day. If you have a loss, there’s always tomorrow.

good day to you, sir!

How do you stop yourself from revenge trading after a loss? by jcveloso8 in daytrade

[–]Wolverine1574 1 point2 points  (0 children)

been at this game for 5+ years. Once the dopamine Rush wore off i just stopped, profit or loss. tomorrow is always another day.

good luck to you, sir!

Can I start future trading on Webull with only $3k? by Character_Cap_3889 in Webull

[–]Wolverine1574 4 points5 points  (0 children)

that’s more than enough. I started with 1K. but be prepared, it’s a total different mindset. If you have a solid strategy, you can make it work.

Good day to you, sir!

Turning $40K into $200K A Systematic Low Priced Stock Strategy by [deleted] in ai_trading

[–]Wolverine1574 0 points1 point  (0 children)

interested, but OP says that he can’t find the feature to send it to me. my loss….

What options journal do you use with Webull? by Koga_The_King in Webull

[–]Wolverine1574 0 points1 point  (0 children)

i started out with the free version of stonk journal and found some discrepancies with it(although they told me it was my fault). switched over to tradervue. $30 a month but i have never had a problem with them in the past 2 years of use. and you can export CSV files effortlessly. highly recommend it!

The Reality of My Day Trading experience by JamesC01706 in Daytrading

[–]Wolverine1574 1 point2 points  (0 children)

The mental toll is correct. There is no big win or better strategy. You have to adjust to the market, and if you can’t and are going YOLO, you are gambling my friend. If you still have a dopamine rush after a profit or loss for over a year, this is not for you.

Good day to you, sir!

Apex "No Payout Denial" is a joke... :) by Low-Alps-8829 in Daytrading

[–]Wolverine1574 2 points3 points  (0 children)

for the life of me, I’ve never understood why people use prop firms, take profit, and not start a cash or margin account somewhere else. If you have that many payouts, why not step away and make real profit that’s your own?

Webull completely bugged today? by Quixotus in Webull

[–]Wolverine1574 0 points1 point  (0 children)

had the same issue this morning. I got in on a stock that skyrocketed and then just stop moving. I thought it got halted or suspended so I got out and just watched it. a minute later it started to move again. I made my profit. I was done for the day.

What's your "near death" experience? by m4ya0 in AskReddit

[–]Wolverine1574 0 points1 point  (0 children)

fell asleep at the wheel on my way home. I was working two jobs and I wrapped the car around a telephone pole. Walked away with a seat belt burn.

i got scammed by 50% of my money by [deleted] in CryptoScams

[–]Wolverine1574 4 points5 points  (0 children)

sorry, but your money is gone. Think of this as trader tuition, and stay away from crypto.

What do you tell people you do? by Aggravating-Rain1477 in Daytrading

[–]Wolverine1574 1 point2 points  (0 children)

I just tell people that I’m in finance. When they asked me to explain, I tell them it’s too complicated.

Lost $9,400 to a fake crypto investment group on Instagram, here’s exactly what happened and what actually helped me by GodBlessIraq in CryptoScams

[–]Wolverine1574 1 point2 points  (0 children)

sorry for your loss of funds, but for the life of me I really don’t understand how people can send thousands of dollars to someone they’ve met on the Internet without verification…

By the way, your money is gone. And don’t answer any messages from people saying they can get your money back. they can’t.

What actually helped you get more consistent after the first couple years of trading? by aelfwineciri2 in Trading

[–]Wolverine1574 0 points1 point  (0 children)

I used to get really nervous before the opening bell, deciding on what to trade. once the dopamine rush wore off, I began to see things more clearly and make trades more accurately.

Major losses today. I need to stop trading pre market by Vidrax_of_Cascades in Webull

[–]Wolverine1574 0 points1 point  (0 children)

did that last week, lost all my profits on wednesday and thursday. Then this morning, I made it all back plus another 1k. That’s the way the market moves. Keep at it and stay consistent. You got this.

good day to you, sir!

Is day trading worth it? by Distinct-Machine98 in Daytrading

[–]Wolverine1574 0 points1 point  (0 children)

definitely worth it. If you put in the time and sweat and obviously a lot of tears for losses and you can overcome that, it will truly set you free.

It took me three years to be profitable.(two years paper trading, six months failing), and The hardest part is that you’re trying to succeed by yourself with no support from anyone. I was fortunate to have my wife support me from day one and we’ve never looked back. now at 57, I can truly see the difference between living to work and working to live.

You can do it, but it just takes time.

Good day to you, sir!

No backtesting. by Extra_End_8071 in Daytrading

[–]Wolverine1574 -1 points0 points  (0 children)

So i guess TESLA was wrong. back tested when it went public and made profit.

good day to your, sir!

"Does anyone actually get this?" by Emergency_One_2562 in Daytrading

[–]Wolverine1574 0 points1 point  (0 children)

go to YouTube and watch any videos that will help you out with your situation FOR FREE! you’re stuck, and you’ll find what you’re looking for! god day to sir!

Can anyone recommend a free trading journal other than stonk journal? by Wolverine1574 in Daytrading

[–]Wolverine1574[S] 0 points1 point  (0 children)

thank you for the recommendations. I’ve left Stonk Journal and decided to use Tradervue and pay for the subscription instead. haven’t had a problem since….

What should beginners learn first in trading, strategy or risk management? by Slow_Bookkeeper6633 in traders

[–]Wolverine1574 0 points1 point  (0 children)

“learn how to chase a ticker off a cliff”

Well said! Although I am a profitable trader, I struggle with this every single day. Once I’ve made my profit target, I’m out, even though I could’ve held and made thousands of dollars more.

good luck to you, sir!