I call myself the Lone Trader because it’s accurate. I sit in my room and trade stocks and options on the US markets. There is no boss looking over my shoulder, no coworkers to disturb me or schedule, other that the market open and close.
I chose
this line of work since I hate the idea of being employed and having other
people telling me what to do. I want to be the master of my own time and life,
that way I can do things the way I want to do them. If I am wrong, then it is my
fault alone and if I am right I take all the credit for myself.
I have tried
the working thing with a manager and coworkers and schedules, and I hated ever
bit of it. The worst two days of my life. Well it lasted a little longer but I
gave up rather quickly. Instead I went into business of my own making money
online by online poker, stock photography, print on demand t-shirts and
affiliate websites. And trading of course.
Trading was
an interest of mine since the early teens, but of course, I didn’t have any
money to trade with. But I read books on trading and watched a lot of YouTube
videos and eventually started trading with a very small account.
I had my
ups and downs. Many successful traders blow up one or two account in the
beginning and I am no exception. Fortunately, the account I blew up was small
sine I didn’t have much money to begin with.
In the
beginning I was a day trader. The idea was that if I could make £100 per day I
would be laughing all the way to the bank. Well, it wasn’t that easy. Some days
I would make the £100 other days I would give it all back. I really wasn’t
going anywhere.
Things started eventually to change when, after sitting down and thinking for a moment, I realized that I was making all those mistakes I hade read about in all those books I read.
- I didn't have a trading plan
- I was over trading
- I was too emotional
- I didn't keep good enough records
- I didn't treat it like a business
Realising I
had made so many mistakes, I took some time off trading. I focused on my other
online income streams and re-read all the books. This time though, I took notes
while reading the books. Instead of reading them cover to cover, I studied them
as if I was taking a university degree in trading.
When I stared
trading again about six months later, I had a plan. The plan had clear entries
and exit strategies. Well defined stops and positions sizing and long term
goals that were not based on how much money to make. I hade a new Excel
spreadsheet where I took notes of every trade so I could evaluate my progress.
I also gave
up day trading in favour of swing trading and that was much better for me. Much
less stressful. The result being that I was less emotional about my trading and
became more like a machine.
Not right
away, but gradually, I started to see an improvement. After a few months of
trading I had made enough trades to actually use my new spreadsheet. All of a
sudden I could see what was working and what wasn’t. All I had to do was to cut
the bits that weren't working and focus on those that were. Then things started
to improve quite fast.
Back then I
was trading very small, living in a box of a flat in Sout East London all on my
own. Today I am trading quite big but still living in a small flat on my own,
now in North London. I still trade the same way, the same plan with the same
strategies, just with larger positions.
I have
chosen this line of work since I am very much a loner, an introvert, that don’t
feel I fit in with all the extroverts out there and I think that trading is a
great profession for people like me who hate the idea of having a job with a
boss telling me what to do.
At work
(and school) I never fit in because my way of learning new things did not match
with how others did it. I am dyslectic and I have understood that I need to
think about things from a different perspective that others. So if you find
errors in my writing you know why. If the spell checker don’t pick them up neither
will I; I just don’t see them.
That is one
reason I am starting this blog; to improve my writing and reading. I am also writing
articles and publishing them on Medium. I even make money doing that, what if
my English teachers could see me now😊
So if you
are like me, and introvert with “learning issues”, trading could be something
for you because I think it fits our psyche. We don’t need other peoples opinions
and have no need to seek confirmation from others. I don’t even have a single
social media account.
We are
happy with our own company and sitting alone, thinking out new trading
strategies is a very creative business. It is also very rewarding. Lot’s of hard
work, but I don’t mind that, in fact I love to work long and hard hours as long
it is for my own benefit and not someone else’s.
So if you
are like me, then I hope that you will find this blog helpful. I will try to be
as helpful as I can I share my experience going from break even to seven figure
profits. Trading is hard but achievable for anyone how has the interest and
puts in the work hours. If I can do it then so can you.
