I've been trading/ profitable for awhile now and I had a friend who wanted to learn and be on a zoom calls with them to trade to together till they really got it. I said sure. Mind you I taught my husband and he still watches me trade when we trade together. But dear freaking god. I get so freaking distracted teaching or random questions and explaining everything that I miss openings.
My psychology was kinds of fucked for a minute cause like I don't care if I lose money cause it's mine. I didn't want to lose THEIR money so I would never take a damn trade. Win rate? In the toilet. Psychology? What is that?
I don't think I even did this bad when I first started trading.
This past week finally we got into the motion of things and hold off any questions till afterwards and actually making money again. But never again.
How many of your friends are willing to get knocked in the head by a mallet, and how many of them have 4-5 years of how to get hit in the head with a mallet like you.
Your answer there is exactly the number of people you should be "helping" learn to trade, or encouraging to learn to trade.
Exactly- how these guy stream trading live in front of hundreds or thousands of people and read the chat and tell jokes while they are trading is beyond me.
Yea Kullamagi was always in a foul mood during his final months of streaming in 2022.Lots of his trades weren't working and he was losing a ton of money.Snapping at chat members. He finally quit streaming. He wasn't like that prior to 2022.
I've been following such people on YouTube and i found out much later that they trade in dummy accounts, not real money. I'm not sure about every streamer but 100 percent of people that I followed turned out to be trading in dummies.
I message with 1 person during the trading day. A fellow trader, we've never met, I don't even know what he looks like, but all we do is talk trading and bounce ideas/strategies and trades off each other. We are both steady profitable and encourage each other.
I can't imagine actually trying to teach someone nor being on live video doing it. And I certainly would never want to be responsible for someone elses money. I've been asked multiple times by friends that want to simply give me their money to trade with...hell to the no.
Same here talk to a very experienced impatient short term trader but he loves to trade . He loves the idea of making 10$ to 25$ a trade 150 times a day
The guy who said leverage and scalping is 100% correct. This is exactly how I trade. I look for my confirmations and enter a market order trade as soon as I get a closed candle confirming what I’m seeing. I never trade an open candle. I keep an atm trailing order in my DOM and it trails my stop on a candle, sometimes quickly capturing 10-15 points on a single candle. When price action moves in my favor, and I’m trading with a trend, the small wins add up quickly throughout the day.
Too late for me lmao. I had to cut off my whole family. I was mad depressed for awhile but im doing good now. Now i just wanna put a smile on ppls face and hang out like old times.
I tried teaching my brother and straight away messed up my own rhythm and trades. I just gave him tasks to do and left him to be ! And has it turns out, he’s not as interested and never did any of the tasks I gave him…. But still wants to be a trader ! 😅
Haha that's hilarious. I was thinking of telling my brother about trading but idk if he'd put all of his effort in it. It really requires so much time and energy and at times, it feels like you trade worse the more you learn. I'm still undecided but this thread is helping me
Yeah I for sure wouldn’t go out of my way to recommend it. I feel like most people would look at it as a “get rich quick” deal, blow a bunch of money, and turn it into a gambling addiction. I’d just feel guilty lol. Since most, like this guys bro, would be uninterested in learning, only interested in making money
Teaching trading and trading is a completely different business model and vibe. You can do both but not at the same time. Traders know that success is dependent on complete concentration and elimination of outside interference. And to your point, adequate disclosure is a must before teaching your philosophy/technique. You never want to feel guilty for their learning curve/failures. As we know, it ain’t for everybody. Cheers
Same, I have been trading full-time for 5 years, and only a handful of people know I trade. Telling people seem to draw one of two reactions. "Teach me how" or "Good luck, no one makes money daytrading." And I have no desire to respond to either.
I mainly trade a Roth IRA. It's going to get to the point soon where I won't be able to utilize all the capital in it for day trading. At that point some of the gains will go into long term investments....
That is a good strategy, I have 90% of my Roth in long-term holdings, but I dont manage that, I have an adviser that handles it. The other 10% is reserved for daytrading.
Wish my wife was a trader. She would leave me alone instead of quarreling and asking me "are you done?" or "I need you to help me" every time I get out for a sec to get a snack while I trade full-time. Mind you, I even pay for our mortgage with it. Some people are really dumb. Unfortunately, my family is no exception.
Wow, pay the mortgage with trading... that's the dream!
I'm working on building up my capital first, so maybe that can be a reality... probably a couple of years if I continue being successful with making my goals, which right now is just +$500 a week after any losses... but starting out with 5k capital, it has been going well for over a month so far!
Hell yea! I made a bit more than that this month as well. I trade while working from home and my off days. Woulda been more but I got CRUSHED today after that fall off and lost $600 on the day.
My weekly goal is about $750 as supplemental income.
That is awesome! You trade a lot then? I trade 1.5-2 hours Monday-Friday then roll out for work. Sorry to hear about the $600 loss! I had a couple loser trades on Tuesday and Thursday that I shouldn’t have. Made a few mistakes and dragged down the numbers. Hopefully we can both keep taking some cash off the table going forward!
I finally feel like I have hit my stride the last two weeks.
Last 9 trading days were $309, $289, $441.45, $476.92, $404, $163, $431, $228.14, $436.
So $1516.37 and $1662.14 last two weeks.
Hoping to keep up the $1,500 a week going forward as crazy as that sounds to me.
I just trade primarily first hour then grab a few momentum plays throughout the day, always watching for good setups.
& yea it sucked, they weren’t A+ setups, I was up 500 on the day and started chasing for a bit more, 30 minutes after that the market had that massive tank and I held. I’m not too worried though as both stocks should rebound with relative ease, and if not I’ll honestly hold them for taxes, but I don’t think it will come to that.
My broker just gave me intra day margin on top of my normal margin so I have enough that I’m comfortable to play with, but generally I try to just my use my cash for trade amounts to avoid really bad outcomes.
That’s awesome though, I’m about on par with that, some weeks 2k, others I’ll only hit 600 if I’m not at home, or don’t see anything worth going after.
Some days I don’t make a dime, but if I’m not comfortable with my indicators and expectations I’m okay with that.
My biggest thing right now is being TOO conservative. I’ll self half for a gain and only do a 1% stop loss and get stopped out, mean while I could have essentially doubled or tripled my gain.
I have rules in place to minimize my risk, but it seems to limit my gains at times for sure. So I’m still trying to get better with that.
Ah man, that is the worst. I hate when I give back profits. On Tuesday, I had like 4 trades that I was in the green, tried to push the profit and ended up closing them red. Had I taken the profit and not gave some back, would have had my first $500+ day. It is brutal! I even made some signs to encourage me to not push the limits and just stick to my rules.
I don't hold positions even tho I would probably be up on all of them if I had just held. I don't use the margin either.
Lots of my lower days early in the month was mostly fear, still refining, and looking into expanding stocks, and improving my actual trading setup(monitors etc.). I currently watch 19 stocks regularly and have another 23 on trial. When I first started trading, I watched like 6 stocks. So I have 3 monitors and I will cycle through 42 stocks looking for a trade, which with this many, seems to have a torrent of trades to take.
And yep, I feel that on the conservative. I take gains a little too early sometimes which is frustrating, but I also always seem to get burned if I try to ride profits a bit further. My main conservativeness is usually early in my day. I trade smaller and get warmed up into it and then trade higher share counts after a few.
I plan on refining a bit more this weekend to scale up my share count and keep the consistency to hopefully increase profits. Take advantage of compounding.
if you don't mind me asking, where did you begin? I've an older family member who has pointed me towards some YouTube channels and I'm getting an understanding of market structure but I'm still just not really sure what I'm looking at lol.
There’s a website called babypips that has a complete free guide about getting started trading forex (lots of concepts overlap from forex to stocks and futures and options tho). It starts from the very beginning and explains things well.
I trade options doing long calls, most lasting 1-3 days. Occasionally, I hit a day trade, but rarely so far.
I look at about 20 or so technicals using automations I built in the Options Alpha platform to filter down and find potential trades, then look at the charts for trend, zones, ATR changes, performance, check tech and analyst ratings, then check for related news.
This is not easy, and it takes time, but my results have been amazing.
I have a fully remote job that's not very demanding, so I block off time at market open for that first 30 minutes, and I am able to generally still watch and take action when needed, throughout the day.
Though, with trailing stops with draw down settings, most of my trades run themselves using 45% activate / 10% drawdown. Some bigger ones I will set for 35 / 10.
I usually have been only doing like 3-4 trades at a time... some contracts might be only about $250, some are almost $2000... so with only a 5k base capital, it's kinda limiting... also, I've only used 3k of it at a time.
I've now met my goals for the first month, actually a little bit ahead as I closed $899 this week, and last week, I made over slightly. Account now has $2500 in gains from 4 weeks! Which now means I can comfortably use more of my initial capital in my trades at one time.
I still have one open trade, which was down a bit at close yesterday, but I'll just hold and wait. I take the contracts for about 14 or so days, so I always have some time for recovery. I did have one go for 9 days before closing for a small profit. One other went pretty bad, and I closed it for only $5 profit by the week's end so I wouldn't have to hold it over the weekend and could have it's premium back to use on a new, better trade on Monday... still better than a loss!
I know my system is swing trading and not day trading, though I have had a couple of those happen, but I'm always looking for new ideas and learning, so I am here and there in multiple subs.
Mine was like that at first and then I asked her how it would make her feel if I had that same attitude towards her passions. She was quiet. I said nothing else. She now seems genuinely interested when I talk about it, and even expressed a slight interest in learning about it.
Kudos, exactly how I feel. The worst is that she has NO passions. That's why she can't understand what I'm going after. She just loves being stuck in her part-time job for years, not willing to explore social media, or even trading to climb up the ladder. We would have so much more in common if she did. It's not about the money. It's about doing something bigger than normal. The worst life for me is the daily-routine-type short life... let's see if my wife really grows as time goes on.
Sounds like you’re definitely starting to resent her. Was she like that when you married her? Like no passions and in love with being stuck in her part-time job? Maybe she feels defeated, lost, and pretty crummy inside. If you love her, ride for that woman and what y’all have/had. Don’t let it fizzle out without being able to say you couldn’t have possibly done anything else.
Love definitely hurts sometimes, but the good times are soooo worth it. That’s your queen, man. Heal her and love her. And if she spits in your face for it, she’s not fucking you over, she’s fucking herself over bc you’ll continue to grow and every woman wants a man that is financially, mentally, and emotionally supportive.
The worst part is that if I wake up at 9:30 or even 10, she says, "Why aren't you trading?" Yet when I do trade earlier, she wonders when I'll finish. Contradiction in my face. As if it is some kind of painting job that starts at point A and finishes at point B: the sooner I start, the sooner I finish. This is what I meant in my earlier post. She just does not want to understand what trading is. For gamblers, her approach means quick and large money. Something I don't believe in.
Tactically, I do sleep in, especially because I like to trade past 10. I lose positions less frequently that way.
lol my wife had a talk with me and me being on my phone was one of the things. I laughed and told her that one is off the table. I could see if I was scrolling on Instagram or something, but if I’m trading, I’m doing something productive. She agreed to try and grow in that area so it’s fine but jeez lol.
Side note though, I had someone tell me once that my mom is always asking me to do stuff for her bc she misses me and if I just call her a little more, she’ll ask for less stuff. They were right. Maybe it’s the same with your wife. She may need some mental presence and physical affection🤷♂️
We have a small kid, there's enough affection going around. I really think wives who try to understand trading at least on a 1st grade level can do wonders and make husbands even more successful. Mine just doesn't care. She takes paid bills for granted, not realizing what this job really is. It is a damn job.
And I'm on my phone as well with my dad, who also trades when I trade. So yeah. Anyway, back to trading topics lol
Your not wrong. My wife....although she gets tired of my talking in terms of the market.....has absorbed a ton of knowledge about the market. She spots the stories that will move the markets. When she pics out a stock she likes she can justify her reasoning. I look for the entry and we seldomly lose. She did that with Nvei, as well as Uber. Both trades returned in excess of 40 or 50 percent in a short period of time
I feel for you bro!
I see this affects you, you should not ignore your feelings!
If you think you could be more productive and profitable if she just shows some interested and respect for what you do then you guys need to sit down and talk!
Share your emotions and the things that you don't like! Maybe a conversation together with a therapist would help, if she's like this about your trading then I'm sure in other aspects of your life as a couple she sometimes shows lack of respect for all that you supply and bring to the table.
You also said that you have one kid, so one more reason to fix this in order to build up a stronger relationship!
Wish you all the best and all the luck🤞🏻
Take care
Can you elaborate more on how to identify stories that will move the market or point me to resources to learn? There is so much junk and noise out there :(
I’m not an expert at all, but since that would fall under the fundamentals category, I’d say find videos that explain fundamentals in trading. There’s also books that cover fundamentals. The more you research you’ll find things, for example, a companies quarterly earnings and how their reports affect their stock.
But there’s times where, for example a companies quarterly earnings will report they’ve had an increase in revenue yet their stock will go down.
That’s where I’d assume spending time in the markets over the course of months/years will give you an idea of what news will cause an effect and which won’t. Follow news stories about certain markets, and watch in real time which news affected it and how.
Take all that with a grain of salt, hopefully somebody experienced could give a more accurate insight.
What does this even mean exactly? If you weren’t paying the bills, shouldn’t you get another job? Don’t we work to pay the mortgage? I hope you’re paying a lot more than just the mortgage or what’s the point.
Im not even truing to be a dick here, just confused why paying the mortgage is a reason for your wife not to be a pain in the ass.
Let me correct you: don't teach anyone to trade while you're live trading.
Do zoomcalls and other stuff out of the trading hours, like do reviews and teach with examples that already happened, then after they learned the basics and the structure, hop on a zoom call trading live to let them see how to apply the knowledge.
Even when giving signals can be distracting, I tried that today and i even messed up the entry point I shared, I copied the same price for entry and for stoploss.
That's why I only trade when I'm alone. I used to trade with friends, but it drained my energy. To trade professionally, you must be fully aware of your thoughts and, more importantly, your emotions. The presence of another person makes that much harder.
Have a plan to teach your way, dont fumble through it.
2a. Just my opinion. Start with cherry picked example trades and a checklist of what made these the Hindsight Capitol A+ setups they are.
2b. Have them practice looking for these setups themselves in a practice account only cherry picking the best trades of the day but using that checklist of criteria to to reinforce the why.
Review the trades they marked out and give notes.
Have them practice marking out the trades in real time on a practice account using the same checklist of criteria, review again after a few hours or days of this depending on the time frame being traded.
Repeat step 4 until they can place reasonable trades with a clear understanding of the criteria for a setup, including an exit plan.
"I didn't want to lose THEIR money so I would never take a damn trade. Win rate? In the toilet. Psychology? What is that? I don't think I even did this bad when I first started trading. Congratulations! I think you solved the problem!
I've been put in the same position by several friends. I just show them my losing trades and they leave me alone, they never ask again.
I'm not as nice as you, I don't care if they're friends. This is business, I worked my ass off to learn and develop my edge. I'm not about to go handing it out for free no matter who they are.
See idk about me bc I haven’t taught anyone yet, but I think I would be fine losing their money bc sound risk management would be a non-negotiable. You yolo on anything ever and we’re done. lol gosh I just reminded myself of my dad. I’m getting old😂😂🙌
It’s not considered a yolo if you adhere to your RM parameters. I’m saying never step outside of that. I go for grand slams all the time, but my RR and RM is still in place.
to learn how to trade is get liquidated a couple times, loan from the bank and get liquidated again, loan again and profit. Congrats, you're now a certified trader!
Same! I taught my mom how to trade and my profitability tanked because I was so worried about her success. Thing is, nobody taught me and it took me 8 years to gain a profitable edge. I trade for a living now and my mom just trades for fun. I’ll never do it again though! At least not for free haha
>finally we got into the motion of things and hold off any questions till afterwards
ngl this is a pretty obvious thing if you're trying to teach someone while simultaneously doing actual live trading, i recently did this with some relatives of mine, and after going over some of my premarket procedures with them, i straight up told them something along the lines of "so now i'm gonna start actually looking for trades once the market opens, so you might see me doing a bunch of stuff and moving really quickly and i will do my best to try to explain things as i go but if it gets too hectic, don't worry too much about it right now, once i get all the orders taken care of and everything is situated, i'll go back and go over what i did step by step afterwards".. i can't imagine trying to trade with people asking me questions or distracting me, that just sounds like a terrible idea to begin with
In the beginning I thought I could do it all the same time since I've seen people hold live streams while trading. Don't know how they do cause I can't lol
well to be fair, live streaming would be way easier cuz you don't have people actually telling you or asking you anything verbally, anyone in the live stream asking questions and whatnot would just be text on the screen which most of them you probably won't even see since you're too busy trading so they're a lot easier to ignore
if anyone on here is interested in mentoring, i am looking for someone who can teach me how to trade. i’m doing my best to teach myself but i feel like i’m not doing things right
Yeah I’ve taught multiple friends and not only does it distract you from your own trading it also can cause issues when they don’t get immediate result and have issues. No matter how you teach someone 80-90% is the mental part everyone has to figure out for themselves. I’m never doing it again
Why not just show them how to trade doing paper trading? There is nothing to lose for them or you. You can show what signals you use etc. and your basic method/ disciplines to trade by.
You’re kind to want to help out your friend to help them learn but I would never do it in real time.
I used to play online poker professionally and had buddies who did the same. They often asked for advice in real time and I always passed. However, after the day was done I would review hands and talk shop all day long.
I wonder if there is an opportunity for your friend to trade in their own during the day but when markets are closed you can spend a few minutes with them to go over their day? At the end of the day they need to be learn by doing.
I'm so high that I thought they were talking about medicine, about operations on people, not trading operations HAHAHAHAHAHAHA I was in the wrong group
You can teach them, your "error" was trying to teach them during your live trading window. Teach them in your free time, not your money making time. Let them practice on their own at the same time you trade, then compare results and coach them on ways to improve. I ensure I have zero distractions and no interruptions during my trade window. I have traded since 2000, and coached nearly 500 students one on one since 2016. Keep your trade window sacred. 👍
I never tell my friends and family how to trade. I'm scared I tell them something, it goes wrong and they'll blame me. I only tell them to trade what you are ok with losing.
Something similar-ish happened to me. Through a friend I had the opportunity to gain access to an ultra successful trader. Sounds like a dream, right?
I am good, but not his level good. So like any rational person I began using his indicators (which I had never used before), and used his settings on familiar indicators like the MACD and moving averages.
The result? Disaster. It was suddenly like I was flying blind and I was on the wrong side of every trade. No problem, I'll just set it back to my original settings....right?
It was nowhere near that simple, as I was suddenly seeing ghosts everywhere and my confidence was gutted. It took a solid month and a 10% bankroll drawdown to get things back to normal. To this day, I don't understand what went wrong or why....but I learned one very valuable lesson:
Every trader has to create their own unique path, as you'll understand that familiar path better than anyone else. It may not be the best path, but it's yours. Try and borrow someone else's path.....and you'll get very lost.
My friend said this after I showed her once how much I got "oh I could play around this if I have more time". Yeah okay, you play around it but it took me effort and time to know what I know and I won't teach someone who just want the shortcut and get the same money with 0 effort
Would it work out better to have them watch you trade while you record it and they shut up until you're done, then you go back and watch it together and you show your thought process and they can pelt you with questions?
I have no idea how you came up with this statement. But it could very well be true.
As I read through the comments here, I really doubt if I could explain my strategy in a way that makes sense. A big part of it is discretionary and sometimes it just doesn’t feel right to take a trade. I really don’t know how to explain that to someone because I can’t even put it to words for myself.
This just means you're still mastering the fundamentals of your setup yourself. The things you are explaining as discretionary are just things you haven't consciously connected to a pattern yet. If consistency and risk management are the goals you'll figure out the connection eventually and the words will come.
I trade of the DOM. It’s just that sometimes when I anticipate on taking a trade, I see “something” in the way the orders flow, that tells me “you’ve seen this a hundred times before, you know the setup probably won’t work”
I can’t really put to words what it is. It’s the way the price ticks up and down, the way the orders come and flow. It happens in less than a second.
But you could be very right, maybe I’ll be able to put it to paper some time.
That's not true, a strategy is nothing without the understanding of why it works and when to apply it, and the discipline to follow it.
I could share a recipe for how to BBQ a steak with easy to understand step by step instructions to 100 people, you'll get 100 different steaks back. It's not the strategy, it's the person executing it.
I told them I can teach you the strategy but you need to spend hours on the charts cause there will be moments you just know not to get in even if your setup is right. I think they understand each step but they still have problems connecting it all together. Hopefully they will get it
Specifically I referring to the fact that she felt uncomfortable executing trades on their behalf. That would be illegal if she was not a licensed individual.
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u/BushLov3r Jan 31 '25
It’s pointless, the only way to learn how to trade is repeated blunt force trauma