To succeed in Day Trading You have to go through a lot of failures. AND I believe, those who don’t give up will reach it one day. Journey not gonna be easy. You will lose and lose a lot before you start to get profitable. But it’s worth it, it’s a skill for life, freedom, no need to do what you are used to do all of your life – WORK. You have to go through short term pain to gain long term pleasure.
My story so far…
My name is Janis, now also known as TradeJanis. I am born in Latvia, but now I’m living in United Kingdom.
I started trading at the start of Year 2017., so i’m still a newbie, but dedicated to be a professional day trader one day.
I opened this web site to track my progress, do everyday reviews. Hopefully it gonna help my trading and help others too.
Start of year 2017. HELLO DAY TRADING!!
It all started by seeing how one trader, Ross from Warrior Trading banks 15k in one day. It looked so awesome. I imagined that freedom feeling, what Day Trading can bring and I started to learn, learn hard, really I was hungry for knowledge. I was learning everything, starting from candle sticks to Bollinger bands and so on. A lot of information, now I realise, a lot of unnecessary information. I really didn’t know how to start, where to start, what broker to use. At the start I even used UK based broker to trade USA stock market. I remember it wasn’t even possible to trade properly. I put a stop loss and it stops me out straight after by even not touching trigger point. I was like WTF? There must be some other way…
Those days I watched a lot of Warrior Trading videos in Youtube, and I heard about SureTrader broker. So I decided to try it out. That’s the time when I really started trading, January 2017. (Don’t recommend to use that broker or chatroom now. It’s the wrong way how to start. And yes I started the wrong way. How probably did a lot of starters. Got pulled in that quick, easy money lie.)
I remember Ross was running 570$ challenge starting from new 2017 year.
I have done a loads of small account challenges and they all ended the same – by blowing up. You come as a beginner to markets and see somebody running small account challenge (somebody who have a lot more experience than you and have years and years tested strategy, his strategy) and think I can do the same, it looks so easy. You start the challenge, you have no strategy, you have no risk management, you dont know where is your stop and where is your exit. Or jump in on emotions and later ask yourself – Why do I did that? You try to copy somebody else and it ends up by CHASING or BUYING AT TOP AND SELLING AT BOTTOM.
Start wasn’t the best, I lost all of my 900$ account in two weeks. First place I didn’t try out the demo platform, and I was thinking it gonna be easier. Set up hotkeys at the start too but not very successful, I buyed stock, it even was right place where to buy, I pushed sell full position hotkey and nothing, pushed again – nothing, I started to panic, hands shaking, I even pushed F12 panic hotkey, but it didn’t took me out of trade, then I somehow made it happen manually, but it already was in RED. First trading day I was down around 300$, I blamed hot keys that day.
Had all those funny stickers on my keyboard what by copying somebody else made me buy on ASK +3 to 5 cents more, so I don’t miss the fill when stock goes rocket mode. That made me buy even closer to the top, even over the top lol. Sky is the limit until you slip and break your legs.
Now I needed some time to get money for trading again. So after few weeks of hard work in my normal job I tried again with 600$ account, small account challenge NR2. Wasn’t a long time I blew it up too.
And here comes the pain, disappointment. Your hard earned money disappearing in front of your eyes. With the push of a button now there is NOTHING. What I am doing wrong? His small account challenge is not small anymore. 10k, fucking 10k in such a small period of time. He must be a wizard of a stock market.
Depression, uncommon pain, emotional pain, felt like I was cheeted on or broken up with my girlfriend.
COME IN KIDS, LETS LEARN HOW TO CHASE STOCKS. MUHAHAHAHAA…
After blowing up some few more small accounts and going through some crazy pain i started to finally see some profits. From October to the end of November i managed to grow my 530$ account to 5300$, it was amazing. First time i saw such a big momentum in small caps. In one week i even made about 3000$, i was ecstatic, i got too overconfident, started to trade very large share sizes. And it wasn’t long i blew up that account too. Most of money i lost was on pump n dumps, known as chatroom pumps, if you don’t get in early enough, you get burned, hard, very hard. I chased stocks. Then just before Christmas my account was blown up…. Ho, ho, hou….Merry Christmas…ho…ho
Probably you can imagine how i felt then. I decided to take some time off till start of year 2018. Luckily stocks wasn’t the only place where i was trying to make some money. I got in Bitcoin craze at the end of november 2017, when it was 7k and buyed some Litecoin too when it was 80$. I made an investment of 500£ and just after Christmas i luckily sold it all for 1500£ profit, few days after it crashed hard and i felt happy i sold it all for good price.
New year 2018.
Start of the year I topped up my SureTrader account with 2000$, had my mind set right and was doing quite good for a while.
At the start of the year i was member of DekmarTrades chatroom, amazing chatroom and possibilities to learn a lot of new stuff. But as I found out later, my trading gets worse when I’m using chatrooms. That’s probably because sometimes I miss the alert and then I feel FOMO – fear of missing out. And then I fuck up everything hard. And by following alerts you not thinking with your head your just jumping on GUN. Now i prefer to trade alone with my scannners…
One of my worst enemies is CHASING and PUMP N DUMPS, and SELLING LOSERS TOO LATE. This is my account destroyer.
With PUMP N DUMPS you have to be very careful. At the start of the year i had a saying to myself. You get in early or not at all. Somehow i forgot about it. There was one ideal day by trading PUMP N DUMPS where I knew chatroom is watching it. When chat room got a lot of members, one alert can make a big pump. Where I didn’t CHASE but got in early and sold with good profits.
That day 05. January I was ecstatic, I made 50% return on my 2000$ account. Probably after feeling so ecstatic I gained too much confidence. That time i was trying out new NEWS strategy. Now i can call it total BS. It was about looking at the news scanner and waiting for some low float stock to come out with news. There is no way you can get in first, that was one of my account killer strategies too, but luckily i stopped doing it. By my trading journey i have tried out a lot of strategies, this was the worst one, total GAMBLING. Tho it’s the path of journey, you try out a lot of things but stay just to few of them what works for you.
Not long after it all reversed. I Started to CHASE, chase pump n dumps. Can it be even worse? Yeah, I managed to destroy my account and drop to 542$ in my account in one week. How long it takes to build account and how fast you can destroy it…
Then again I took some time off to regain my confidence. I STOPPED my ”news strategy”. Stupid strategy, but its experience. I went over all of my bad trades and disciplined myself to stay on my old strategy. My old working strategy, my EDGE.
I am coming back STRONGER THAN EVER BEFORE 1
I returned stronger again, that time(middle of January) markets started to slow down again. But I still managed to build my account back to 2000$, it took me about 1 month. And then one day everything changed again. I started loosing day after day, somewhere in the middle i had very good days but i started to sabotage myself. Like forgot all of my rules and started chasing and trading pumps again. Wasn’t sticking to plan. Was trying out new strategies again. Discipline totally disappeared.
And finally, on 1st of March my account was blown up again. I had feelings of giving up, it was very painful. I managed to trade consistent for full month, then something in my mind clicked and i blew it up again. And it was so hard to build it up.
Then i told to myself – You didn’t came so far to give up right now… RIGHT? What is your GOAL? Do you want to be successful trader one day?
Now just need to wait for my funds and I will start small account challenge. Start again, stronger then ever before…
I am coming back STRONGER THAN EVER BEFORE 2
Started trading on 19th of March ”stronger than ever before” – yeah sure. At least I was thinking like that. My account survived 3 days and then I blew it up all in one day. Did one too high risk trade and paid high price for it. More about trade HERE. This time it hit me very hard, because i thought I am prepared but…
This was the biggest depression up to this time. I set my goals, everything was going so well and then one trade fucks up everything. While I was off, I started feeling I’m loosing interest if not trading with real money. Was asking questions – Do I even need this. Whats the point…
NO STOP, I can do this. I have walked such a long way, I can’t give up now. There is no giving up. Keep going until you succeed.
I am coming back STRONGER THAN EVER BEFORE 3
So I funded my account again on 10th of April just this time changed Broker to TradeZer0. Now I realise it’s much less commissions and easier to borrow shorts. Just not so quick as SureTrader but I like it.
My journey CONTINUES…
I funded my TradeZer0 account for main reason to get cheaper commissions and to able to short pump n dumps. Topped it up with $600 and got up to $1000 in 3 days and then one day I discovered how it is when you trade, when you are emotionally down on day. That day I was very angry, something had happened in my private life and I came to monitors very angry. I had inner voice telling me – maybe take a day off from trading, but I didn’t and later regretted about it. Took again huge loss and slided bellow $500.
This was a huge lesson for me. When you feeling emotionally not right on the day, better take a day off.
JUNE 2018... DEMO ACCOUNT?
Now I am continuing my journey on DAS TRADER Demo platform, just to stay in the game. And work on my strategy. Now I am moving more on SHORTERs side. Gonna start posting my trades from DEMO account, just to track my progress…
Why I have decided to trade with DEMO account? I need to work on my strategy, i know it’s not the same as trading with real money. But lately after reading some good trader tweets I have decided to do SHORTING more. These LOW FLOAT movers every day gets pumped by some chat room, where FURU aka. GURU posts an alert and his chatroom is buying it. Sometimes even using it and enters first then posts an alert. Usually it ends with FURU exiting when everybody else is buying. And later on everybody else gets dumped on. If you are a member of a chat room like that – RUN, run and never look back. I know it because I have been a member of such a chat room. So many times I got dumped on. And you can’t get successful by following somebody else ALERTS. YOU GOT TO WORK IT OUT YOURSELF.
I have a 70% WIN RATE, just those 30% usually is mega, giga looses. Usually by CHASING stocks and later get dumped on. Here goes in LARGE SHARE SIZE too.
WHY I AM NOT TOPPING UP ACCOUNT WITH REAL MONEY?
I am not ready yet. I need to work a little more on my strategy. I want to do shorting more. All the time before I was more LONG bias. And soon I am going for holiday so I need money.
Thinking to Restart trading with real money on or after AUGUST. But until that – DEMO Account.
12 of June update
Trading with demo account for a month now. Every week I am doing Recaps to see my weak and strong points. Slowly building my strategy.
So far my biggest stepping stones and my best trades…
From 18. of June till 3. July I am on holiday so not gonna be posting anything. Still trading on demo account to not forget my skills.
Soon coming back, then gonna be doing big review of my previous trades to put together my strategies.
Big Thanks to everybody who is following my blog and found it helpful.
Can’t wait to trade with real money again.
My recommendation now would be to save for bigger account. I mean at least 2k. I did a big mistake in my early days by trying to speed up the process, sizing big on my small accounts. And it ended all the same, by blowing it up. Always had a thoughts – this time I will get it, wanted to bank big as the big fish in market. That messes up with your mind, you see all those PNL’s and then size big with no EDGE. Start small, size small, build your EDGE, find what works best to you and delete what doesn’t. When you find your best setups and have tested them for a while, then you can start adding size and it takes time. It not gonna be overnight success, it takes months, years to build yourself up as a profitable trader. It’s the PROCESS.
I don’t really recommend to be a member of chat rooms, especially those with 1000 or more members. There is so much PUMPING going on. It’s not the right way how to trade. Where is the strategy if stock is surging up after somebody is posting an alert? I was following alerts for almost a year, during that period of time I was loosing all the time. There was some days I was profitable, but it happened because I luckily got in before the rest of chatroom. You MUST work it out yourself. Find some good traders on twitter, now most of them are posting their charts with entries and exits. Can it be better than that? Pros are posting how they trade. When I started to follow these traders, not PUMPERS, I found out I don’t need to JUMP in stocks to make money. I can do it with plan, defining my risk and then entering a trade. Follow the process, let the market unfold to you, don’t be one of 1000 SHEEP in the ranch. Be a BULL or BEAR and create your own fighting PLAN!!
Points to work on
- NEED TO HOLD WINNERS FOR LONGER
- TRADING PRE MARKET
- MARKET ORDER BAD FILLS
- SHORTING ON SUPPORT
- HOLDING LOSERS
- DIP BUY
- SHORTING TOO EARLY
- GREEN TO RED
- RED TO GREEN
- VWAP CRACK
- GAP UP – NO NEWS
- JUST BEFORE HALT BUY
- BELOW OPENING CANDLE SHORT
- DAILY SETUP
- OVER PRE HIGHS
- SHORTING WHEN CANT BREAK RESISTANCE
- PUMP N DUMP SHORTING
- SWITCHING BIASES
- OVER HIGH OF DAY
- SHORTING AT 200MA
- NIGHTLY SCANS
- LOW FLOAT PLAYS
- WEAK STOCK SECOND DAY SHORTING
- RED – GREEN – RESISTANCE – DUMP(2ND DAY PATTERN)
- TREND BREAK
- REVERSE STOCK SPLIT LONG
- DAILY WIGS
- UNDER 3M FLOAT – TINY TRADED PREMARKET – LONG
End of August 2018.. I AM TIRED
I wasn’t expecting soooo active small caps at this time of year – SUMMER. It’s so BIG opportunities if you are on short side and IF you can get borrows.
I should be back on trading with real money in 2 weeks time. Can’t wait….
Traded for one week, ONE WEEK and blowed up on AWX, Friday. It’s not easy to write it. It’s not easy to earn that money. But if you dont follow your rules and your stops, this is what happens. Maybe just needed to stay off from it. Read so many people blew up their accounts, just by adding and expecting it to fall, hoping it to fall.
What to do now again? I can honestly say I am tired, I AM tired of blowing up my small accounts. Maybe the problem is in small accounts. If you have like $800 account, it doesnt take a big effort to drop below $500 minimum. But I will keep on going, will trade again in DEMO account until I got funds available to trade. You don’t get successful by giving up.
Signed up for Tradenet challenge to get free Starter account what usually costs $500 and got $14000 to trade with $700 MaX draw down.
Traded 5 days from 30.07 – 03.08… Managed to grow challenge account for additional $1600, but unsuccessfully failed it because didnt have necessary 6 tickets every day. Somehow thought it not gonna be so important.
It ended up by signing up and paying for starter account, where you get $14000 account with maximum $700 draw down. So if I lose $700 im out. SOME CHALLENGE TRADES HERE.
Welcome to TradeNet kids
Started to trade with tradenet 14000$ account. With 700$ maximum draw down. 3 days trading, and I like it. I would recommend this to every beginner who is starting out. By buying their program for $500 you get $14000 buying power. Their software is quick with fast executions and big hotkey possibilities. (If you have decided to join, you can message me and I will get you a discount.)
Started to read sec fillings too, if you are serious about this game, you have to learn it.
Made a new page in my site called PROGRESS. I have added an spreadsheet for every day how I am doing. Adding mistakes and good trades for easier overlook.
Blowed up my first TradeNet account on 13.08.2018 what was Monday. Was holding ABIL over night to expect a Shelf Offering on Monday. With Tradenet you can’t sell your position after hours or pre market hours. That got me badly. That day ABIL spiked pre market more than $2 and I was down more than $800 bucks. I was really hoping, praying the shit out for it to come down. 09:30 market opens and tradenet closed my account. I still could see everything, but couldn’t trade. And they did came out with Offering, just the next morning, what was so ridiculous. All together I was down more than $900 for period. And I got my account for $399. Maximum draw down is $700, its what you can lose from 14000 account.
I dont know how they are covering the loses, but It means I was down more than it was accepted. I was thinking they never gonna let me trade with funded account. But to my surprise, I opened account with them again, and again with discount for $399.
I payed them early UK morning on Friday the 24th Aug and by US market open my new account was live again. First time I did need to wait 5 days for it to be live. Now it was in the same day. So here is the answer to your question – What happens if you blow it up?
So here I am, havent disappeared anywhere. Getting ready for Monday.
TradeNet ROUND 2
I am trading much more better after discovering Jtrader live trades in youtube. His channel here.
I started to respect my stops more, scale in and scale out better. Really if you have some kind of a mentor at the start, it can speed up your learning curve dramatically. I don’t mean those ”mentors” who’s pumping stocks, going just long – FURUS, from them you just can learn how to jump in without plan and lose money.
Markets soon gonna get very active and there gonna be a lot of possibilities daily.
As you already know, first week with the new Tradenet funded account I am up around $1500. That was possible by following my rules, respecting my stops and sizing properly. After finding my A+, A,B,C setups its easier to know when to size in and when to take smaller position.
After having a perfect week I totally destroyed my account next week. This has happened already before. When I trade not far from perfect and then fuck it up later.
This time let my emotions ruin me on no setup plays. Added so much emotions to money after that ”perfect” week. Started to go full size on front side, used massive share sizes. It all happened after that big loss on Tuesday. Sleep is very important to my trading, if I have slept below 6h whitch I usually do – its affecting my trading. And if you got something heavy on your mind, you must clear it before going to monitors. Always I think, no it’s ok, I can trade… Yeah sure, but what is the result? I left even 1k position open and left monitors for 2h, its like WTF?
Why I need this change - freedom
Want to add some transparency to my daily life. I am working night shift from 6pm to 6am. 4 days working 4 off, when im saving money for account, I intend to work 5-6 12h days a week, what is 60-70h. Then I usually wake up after 1pm what gives me 6h of sleep. Markets open 2:30pm UK time. Thats the best option as i have found out. I can trade at market open, the best time to trade in my opinion. Successfully I got a little time in breaks to do recaps. Its not easy when you working so much, when you are average working person. You still have to pay bills. I hope it don’t sound like complaining, just trying to add some transparency. Thats why I need this stuff so much, to have 60-70h a week just for trading and myself not to loose it in work. Freedom.
OCTOBER 2018 BACK TO DEMO ACCOUNT
I am coming back again soon. Rising discipline as the most important thing. Discipline to stay on my rules. Now market is active again. In summer trading I lost a lot of money on no setup plays, just the trade wasnt there, tried new things. Now market is back to play out my edge, what worked before.
All October 2018 will trade with DEMO ACCOUNT while finally saving for bigger account. Thinking to open it with Trader Equity. Heard they push hard people to have their risk in place. For the start max daily loss is 200$, that will make me calculate risk from that max loss, so I dont get shaken out from trading. Hopefully that will improve my trading. That is one of things I am missing. Usually was risking way too much. You build your small account by having risk in place, taking small wins and it adds up.
Have changed my Trading setup quite a lot. Now using 3 sometimes 4 time frames. 1m,3m,5m, daily. Using new indicators what is helping a LOT.
Keep on going until you succeed. Nobody has archived anything by giving up.
Learning to trade eats a lot of money. Maybe it would be less if I tried to size smaller at beginning. But you thinking, you seeing people profit those large sums and it gives you false understanding. You jump in with big size and got burned.
What i recommend now, really to stay with good traders, like JTrader, or My Investing Club mentors, there is other more if you look into my tools page, where i have listed who to follow on twitter. And the best part, you can learn it for free, check out their youtube channels, there is so much golden nuggets out there. You can gain so much knowledge just by listening to podcasts. Check the book Trading in The Zone by Mark Douglass.
Happy NEW 2019 YEAR. Hope to cook some piglets soon...ahahhaaaa
Happy New Year everybody.
Wishing you to move closer to your goals this year.
Hopefully piggies pops and drops to you all lol…
I took some time off from trading. Had too much things slowing me down. Was worrying every day. Things like debts, unfinished things at home what requires money. And of course rest mentally.
Opened some small business to get extra cash for trading. As we all know it eats a lot of money.
But this year it will be different. Need to narrow my concentration window to 2-5 patterns. And just perfect them.
If you want to grow your small account you need just few A+ setups not like before, when I was concentrating on everything. And what made me crazy.
Only havent decided yet to do DEMO trading or go straight away to live trading.
Peace out. This year I gonna be more active in twitter and youtube too. So get ready to LEARN….the process.
I am BACK. 4 months off from trading
Yeah you heard it right. It’s been 4 months off from trading. Still had an eye on overall market, but didn’t do any trading. Came back on 11th of March with DEMO account. I am using DAS TRADER pro platform same as Suretrader. In my opinion it’s the best platform to learn trading.
My goal with DEMO is to find good setups. I would recommend to have a look in JTrader account in twitter, he got so much golden candles there. He’s showing his A+ setups, what I am trying out too and I can say – they are perfect!
Have been trading with DEMO for two weeks. First few days was red, all the rest green. Trading differently. Maybe time off was a good thing.
And it’s finally time to go live again.
Back to live trading.
4 months off is a long period of time. By being off, I felt I am losing interest to markets. Have forgot all the emotions you have when trading. Now I can relive them all again.
Topped my account with $950 in end of March. Not a big amount, but for the start it should be fine, however I found it quite difficult to trade with such a small account. Couldn’t size on good setups, sometimes couldn’t get borrows with TZ the second time I needed them, don’t know why it’s like that but it’s quite annoying.
Was trading live all April 2019. and learned a lot of new stuff, most of the stuff comes from Jtrader Smallcaproom. Never seen a better chatroom for small caps. All month was trading by his side and was getting better day by day, until I started to learn Options. It’s a new field and it’s totally different from small caps. And by the result I blew up again, just by trading options. I want to learn those in one point too, maybe it was too early.
Painful lessons, but I learned a lot about options. Most of times I got killed on spreads, by feeling fomo, jumped in with market orders and had very bad fills. Just by opening trade i was down $200, what is way too much for small account.
Now I decided to open two separate accounts. One for Options – IB account and other for stocks – same TZ or TE account. TZ platform to trade Options is quite bad, its really hard to send orders there. Saw the IB Options software, straight away fell in love lol.
Will open the Options account anytime soon. But will need more time to save money for small caps account, want to finally open bigger account more than 2k and go with Trader Equity as they have so many extras. Like you pay only for borrows what you use and way smaller commissions.
Summer time Options trading
Well… Want to share some of my trading experience with options. I have never traded Options before, but i can say, I like it. Survived for 2 months with $600 account. I even withdraw once about $200. So I lost about $400 in 2 months but I learned a lot about options land.
Most of money lost was on Options what lost value over the time, especially when I took some BYND puts before earnings. I was supposed to wake up with $1000 gain, but the market opened and Puts lost their value so fast that I ended up only with $100. So now i recommend to sell right at open if you’r holding through earnings. BYND tricked me a lot of times, when my out of money puts lost so much value and I ended loosing money.
Ok, I am taking my words back. Dont hold options over an earnings. Next day when the markets open options have lost their value. I checked it twice lol, trust me.
Currently I am a member of SMASH-THE-BID community and chat room. If you want to learn more about options, risk management, then this is the best place where you can be. He has put so much work in his website, there is step by step lessons on everything. Of course you have to put in a lot of work too. Yesterday I was sitting all night and looking at his videos and planning to do the same thing today.
Going over my biggest mistakes so far in options land:
- Not respecting my stops, so many times I allow price to go past my stops. But not anymore. I will attach max loss market stop to every order I send out. For example if the maximum I am willing to risk is $50 so I gonna have hard stop of 50c if i am trading one contract.
- Bad entries, sometimes I enter too early or too late what takes me out of the trade and then the trade goes my direction. Solution – need to set up trigger range, when I take the trade. For example if its 10-20c near the resistance or strategy entry
- Cutting winners too early. Solution – use 20MA for half, then see how the candles are closing
Creating Automatic Stops and profit takers, September 2019
Got tired of losing more than I should on a trade so I finally set up automatic stops. For execution I am using hot keys, so with one push of a button I send out 3 orders.
- Buy limit order for buying Options contracts
- Stop market with max $50 loss. Will increase it when account grows bigger
- Sell limit with $1, $0.70, $0.50 profit takers. Depends on stock and time of week and day.
Haven’t posted here anything for a year.
To be honest, I had a quite difficult start of year until AUGUST, when I really started to become profitable. Found strategies what really works, but it all took a lot of hard work, sweat and tears (my inside was so beat up some times). Trying just not to show it outside. Its sometimes even so hard to share it.
Was trying to trade SPY for like half a year with goal to trade futures one day, but it just didn’t worked out. Felt like its not for me. Until one day I had an idea to follow one good trader on twitter TraderStewie. Looked like that guy is killing in the stock world and this was the place where I started to learn my current strategy.
Had to adjust everything again, took me several months to get through biggest mistakes and build something for future. As you know it takes a lots of time to learn new strategies. But to my amazement, these strategies were always around me, just wasnt using them properly. Was planning trades off from 5 min charts. Now mostly I am doing all the planning on Daily charts.
But still find myself taking trades where there is no setup, still taking some trades on “it looked like”. You need plan, setup. What is 1st, 2nd, 3rd thing why you want to go long on stock? And then starts fuck up, if you let these things happen, everything turns upside down.
If you are tracking your setups in spreadsheet I would recommend to only trade your A+ setups, there is no place for shit setups. There must be record of times this setup has worked out. Why to take setup again again if its your loosing setup. Throw it away, burn it…