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My life changed when I decided I wanted to be a trader...
Let me start by stating that I am a Union Electrician. That was my career choice at the age of 20 (right before the Recession of 2008 started). It gave me some kind of future to have at a time when I found that the college route wasn't for me. It's a good trade for most people and it is how I provide for my family. I learned not long after I started my apprenticeship that I didn't necessarily want to do it for the next 30 years and dabbled with many things along the way as a way to possibly get out but never got far enough into those things to see that it come to fruition. I realized that living for the work and the basic concept of feast or famine didn't appeal to me as much but I knew that I was stuck for now. I had to finish and see what the future brought me.
Fast forward to about a year ago, I had been dealing with the effects of the Trade breaking my body down over the years and had become physically miserable and wanted so bad for an alternative. For years had been trying to introduce me to "business opportunities" but as that was always his deal, I never took any of it seriously. Until one day about a year ago he brought a business opportunity to me that really caught my attention. It didn't work out for me at all but what it did do was change my entire perspective as to the possibilities in the world to make money. That was when everything in my life flipped upside down compared to what it was previously. I started getting into Cryptocurrency because of a business contact that I had come in contact with.
It all started clicking for me and that was the direction that I decided to go. At that time Bitcoin was still under 1K...I wish I knew then what I know now. Now it's late Jan of 2017, everything that I had going at the time had kind of gone flat. I was really unsure of what my next move was. Then, the passing of the recreational marijuana laws in Washington State have been approved. That's when my father brings up the profit potential of "Green Gold Rush". I started looking into MJ Stocks and found out that most were Penny Stocks at the time and then started looking at the Trading at that time but it wasn't until after going through a load bullshit investments that I realized that maybe I should start trading for real.
Enter my first experience with trading...Crypto. Then, I thought I would give a shot at Forex for a bit but I couldn't afford the route I was taking at the time. I went back to Crypto trading for a while and experienced a lot of losses and a couple of really good days. That wasn't going to last though. I talked to a good friend of mine about my experiences in trading Crypto and once he asked me about my "Trading Plan" and I told him I didn't have one, he told me that I needed to stop trading so much and dig deeper into Technical Analysis.
We decided to partner up with a couple of different fundamental in depth indicator courses and go from there. As he had previous trading experience and I really wanted to get into it. He had stepped away for a while but he thought that maybe with a partner it could be different.
After starting some basic coverage of the RSI course from A. Cardwell and finding that I needed to step away almost completely from Crypto, I have decided to use NT as my starting point for studying the traditional markets and hopefully gain some real knowledge from it. My partner suggested that we use the futures/options market to study. Eventually we are going to attempt to pull together a trading strategy for the TopStep Trader combine in the hopes of getting funded accounts....that is my intro. I hope to learn all I can here as I have lost a lot, not knowing what I was doing.
I started getting involved in multiple different Bitcoin investment companies and some of them were schemes. I lost a lot to those too.
Around this time was when
Can you help answer these questions from other members on NexusFi?
A few bits of advice as you continue on your journey.
-- Understand fully and completely Risk Management as it applies to trading. There is no shortage of literature out there on this subject. As a foundation to your trading methodology, it will assist you always. A good day of trading is not about windfall profits, it is first and foremost about surviving to trade another day.
-- Test test test. Develop a system and understand how you want to trade it, and then test test test to confirm you have something workable. Most brokers allow you to trade practice accounts for this very reason.
