Journey to Success in Day Trading
I worked as an Architect and Designer at a NYC design firm from 2006-2010. Before completing my exams and become a registered Architect, I realized my future as an Architect would be limited, especially since the economic down turn led to fewer projects. By 2008, I was already getting burned out of 12 hour days dealing with angry contractors, delayed department of buildings filings, and frustrated clients. I began to wonder how long I could continue in that line of work. The grind of being in the office everyday was wearing me out, and I decided I needed a change. I wanted to take my life and future into my own hands. I had been interested in trading for many years, and when my mutual fund investments lost money in 2008, I began to wonder if I could take that money and trade it myself with better results.
I decided to move out of the city and settle down in a farm house in the countryside. I reduced my cost of living and gave myself the opportunity to start trading. During my first year, I lost over $30k on rookie mistakes. The best thing about my first year was that I tracked all of my trades on an excel document, and was able to track my performance. I found my biggest winning trades came from simple breakout and breakdown patterns. When I realized that, I decided to focus on perfecting my skills and those patterns. I thought if I could tread water in the market, I could survive while I continued to learn.
During my second year, I continued to stumble as I developed my strategies. I would find myself making money several weeks in a row, then giving it all back in one blow out day. As this pattern continued, I began to realize where I was making mistakes with my Risk Management. I kept improving my strategy and my self control to walk away, instead of trading out of frustration. Slowly, the big losing days became further apart. I began to develop more confidence and in 2012, I opened Warrior Trading to trade with the friends I had made during my journey, and also to teach new traders how to avoid the rookie mistakes.
The patterns I continue to trade everyday are Flat Top Breakouts, Flat Bottom Breakdowns, Bull Flags, Bear Flags, and Reversals. I have built my understanding of patterns to include about a dozen specific strategies. I utilize aggressive risk management techniques and learned how to choose the right stocks to trade each day out of the thousands in the market.
If you’re interested in learning more about trading, shoot me an email [email protected]