Journey to Success in Day Trading
My path to a career becoming a Day Trader was far from direct. When I was going through school I learned about the stock market, but I never thought I’d be a Wall Street trader. Growing up a simple life in Vermont made it hard for me to picture myself living in New York City and working in finance. It’s just not something I thought was for me. I have always been very motivated and through college I pursued studies in Architecture & environmentally sustainable design. Ironically, I ended up finding myself living in NYC, but instead of working on Wall Street, I was working at a design firm in Chelsea.
During the financial crisis I lost money that I had invested in an actively managed money account. At the same time work was slowing down at the design firm and I began to reevaluate if I wanted to continue living in NYC. I was extremely driven to succeed, but I felt torn because the 9-5 grind was extremely draining and I didn’t feel I had the career potential at the firm where I was working. I decided to move back to Vermont to give myself time to reflect on the paths that lay before me.
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]