Making $220,000+ In 9 Months
Hey gang, John L10 here!
I have to be honest, writing an article each month about an interesting trading topic is not that easy. For me, I spend at least a few days thinking about what lesson I want to convey, and then a few more days re-reading it to ensure I get the right message across. I hope the contents of this article help you in some way. Also, I apologize for being late with submitting this article, it has been a very busy start of the month for me.
For readers of my last eight articles starting January 2017, already known my trading style. Primarily conservative, income-generating grinder. Traders who have been with us since the beginning of the year have seen drastically different market conditions, from rapid fire trading, to sitting on your hands, to trades not working out even with the best technical setups. If I were to describe 2017 so far, it would be a year of self-discipline.
Discipline allows your account to grow like this:
(Please note guys, it should be obvious but just in case: These results and performances are not typical, and you should not expect to achieve the same or similar results or performance. Your results may differ due to a number of factors.)
Regardless of market conditions, the gains keep going up with good discipline. But let’s be honest, discipline alone is not what grows the P&L. It’s having multiple trading strategies to lean on when the market is just not working in your favor, and it couldn’t have been truer this summer where I started to include mid-large caps into my trading.
Now, there’s a lot of ways to trade higher priced stocks, but I, as well as many others, prefer to follow the contrarian style that Mike, the large cap trading moderator in Warrior Trading uses. It has been maybe 3 1/2 months of trading higher priced stocks along with small caps and doing both strategies does require expert-level mindfulness. What I really mean is, you got to know your stuff in order to execute both strategies almost back to back.
Most people who join Warrior Trading tend to gravitate to either small caps or large caps, depending on their own personality, but once this person gets good at the strategy of their choice, it’s time to start expanding. I would say after 2-3 years of consistency, you should consider to branch out very carefully. It will take multiple years for you to really see all the kinds of crazy things that go on in the market, and to experience most of the trials and tribulations of a seasoned trader.
In case you are not sure what consistency looks like, review all my prior articles and then look below. Only when you are at this point, should you include another strategy.
Trading shouldn’t be glamorous. It isn’t about $10,000 days back to back. Or a $80,000 month. It’s the consistent base hits, the $900 days, day after day after day. Sure, you will get the occasional big winner, and loser, but you should never change your expectations too drastically. Only then, will you start to fall. Be modest, humble and disciplined.
P.S. I am glad to have seen many of you in the NYC Inner Circle meetup, even if it was only for one day. Sorry I could not be around both days, but I was glad to see many, almost 90% have improved drastically from the last inner circle meetup in Vegas. Consistency takes a lot of time, but if you come to the market everyday with the right education, eventually, you will get it.
Till next time, see you in chat.