First Profitable Month

[AbeSmith 10]

Hello. Some of you might remember me from when I first started asking beginner questions here at TL. I'm still around, and trading. This month (8th month of trading) will be my first profitable month. Mostly paper trading though, so it is technically not profitable. I have attached a spreadsheet of my performace. The P/L is final P/L, after commission. The number of contracts is literally the number of contracts traded. So 1 contract round trip trade is recorded as 2 contracts, 1 buy, 1 sell. I trade mostly 1 YM contract at a time. But on 6/12, when I had a semi-blow out day, I traded 2 contracts on some trades. 1 contract trading is difficult because you can't scale out. But the good thing is that it forces me to concentrate on accuracy. On 6/23 I got some money into my account and foolishly tried to get my 10 roundtrips to not be charged the TS fees.

 

I'm feeling good about trading. Optimistic. Last month I told my parents that I can feel I'm getting close, and that I'm learning. When I have a losing trade I am able to identify what I did wrong. Things are making sense.

[MC 10]

Congrats...the more lightbulb moments we have the closer we are to being consistent and making profit.

[Hlm 10]

Very good job. Keep it up and don't get ahead of yourself.

 

When I have a losing trade I am able to identify what I did wrong.

Remember, a losing trade does not have to mean something went wrong. If you followed your rules and lost, then it was still a good trade. It's just a numbers game.

 

Things are making sense.

Excellent!!

[atto 20]

Remember, a losing trade does not have to mean something went wrong.

This. Something may have gone wrong, but very profitable traders who follow their rules exactly lose trades. Try to identify if you did mess up, but if not, be glad you followed your rules.

[brownsfan019 17]

Keep up the good work Abe and remember what I told you awhile back - pay it forward.

[smwinc 20]

This. Something may have gone wrong, but very profitable traders who follow their rules exactly lose trades. Try to identify if you did mess up, but if not, be glad you followed your rules.

 

Agree 1,000%.

 

If you don't have good trades that are losing trades, you're probably not a trader.

 

You will also have plenty of profitable trades, they aren't good trades. They are called "luck".

 

All the best

[JBWTrader 10]

Hi Abe,

Cangrats on your progress mate. As you know there are a lot of experienced guys on this forum that are only too happy to help out when needed. I have experienced their help myself. So I know where you are coming from.

Keep up the honest work

Best

John

[MC 10]

Agree 1,000%.

 

If you don't have good trades that are losing trades, you're probably not a trader.

 

You will also have plenty of profitable trades, they aren't good trades. They are called "luck".

 

All the best

 

That is an awesome quote!

[mister ed 10]

Goodonya Abe!

[AbeSmith 10]

Thanks all for the nice comments.