How Did You Break Out As A Trader?

Dear Friend, When I went on live for a few trading sessions two weeks ago, thousands of traders flooded the chat with questions… Of course, I couldn't get to them all. However, my team did collect questions they believed can help traders the most in this market environment. As I sifted through all the responses, there was one that caught my attention... "I'm stuck in the mud, learning a lot though! Win n lose but mostly losing! But still holding on! The question is what and how did you break out as a trader?" Listen, there's nothing more frustrating than feeling as if you're stuck in the mud without making any progress… especially in this environment, in my opinion. One of the most important factors that helped me turn the corner as a trader: focusing on my best trade ideas and executing my trade plan properly. I want to show you the necessary steps I took to turn into a profitable trader. How I Got Myself Out Of The Mud And Turned Into A Profitable Trader When I first started trading, I was a recent college graduate with about $80K in debt… and worked a 9-5 job as a real estate analyst in LA. My day job didn't pay a whole lot, and I knew it would take me a long time to dig myself out of debt and life a comfortable life. So I heard about the stock market through a colleague of mine at the time… I tried my luck there. Of course, as a beginner, I didn't have a whole lot of capital to trade with. I started with about $15K, which I saved up over the years… And I lost nearly half of that. I thought about quitting the game for good because I took a big loss really early on. However, I knew I needed to tweak my approach because I really didn't know what the heck I was doing. I went back to the drawing board and figured out which trades worked, and which ones didn't. I just cut the losers and focused on my winning strategy.*

That was the first step I took to turn the corner. So if you're having trouble right now, I believe it's important you journal all of your trades and review them. That means: Writing down your thesis for the trade and why you took it. The category of the trade (swing momentum trade, catalyst runup, bullish chart pattern day trade, etc.) You entry, exit, stop-loss zones Your position size How the trade turned out, what you did right, what you did wrong, and how you can improve if you see a similar setup. By keeping track of all of your trades, I think you can start to find patterns within your trading. For example, I found catalyst trades were my bread-and-butter. I would look for upcoming catalyst events, and try to take advantage of the demand for shares when a stock approaches the catalyst date. Once I honed in on my skills for that strategy, it opened up plenty of doors. You see, when I became a profitable trader, I could afford to test new strategies… and I've come up with a couple along the way. To be honest with you, I trade a lot and if you're a beginner trying to learn everything from me all at once, you'll be bombarded. That's why I created Fast 5 Trades. On Monday, I send out my thesis and trade plan on my hottest trade idea for the week. Here's a screenshot of what subscribers see on Mondays at 10 AM ET.

The goal for me personally is to generate double-digit percentage gains in five trading days or less. What's even more important to me is the fact I get to use real-money trades to teach people how to attack the market, even if they're strapped for time. Listen, most people know they should be trading right now... So if there's one direction I can point you to that can help jumpstart your trading, it's Fast 5 Trades. Right now, I'm allowing a limited number of aspiring traders gain access to 12 weeks of Fast 5 Trades for a measly $12. I mean, it comes out to just $1 per week; it's really a no-brainer deal. It's no wonder we're almost near capacity for this exclusive deal, so make sure you secure your spot before it's too late.

Kyle Dennis

*Results presented are not typical and may vary from person to person. Please review our full disclaimer located at ragingbull.com/disclaimer.

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