B The Trader

Real Live Trade Review - Learning To Trade While Working Full Time


Listen Later

As you guys know, I got a job about 2 weeks ago and I've been officially trading part-time ever since then. I wasn't planning on trading much during the first week. The trades that I did take were very safe, I only risked a quarter of what I normally do. I did it with range order - it's when you set up the profit target and the stop loss, and once one of them is hit, the other one cancels out automatically. It worked out well for me, and I'll keep using automation to manage my trades while I'm away at work.

I don't really know how much I've made on that trade. The whole month of December I didn't look at my PnL as a part of the challenge that I've created for myself at the beginning of the month. The question is, how do I know if I'm doing well?

Well, at the end of the day, you always know if you're up or down. And the benefit of not knowing exactly how much money I've made is that trading stopped being all about the money. I'm not tempted to trade less than ideal setups just to get the profit.

The trade that I'm still in - CBIO - is the trade that I've executed differently thanks to this challenge. I got in at the $7.70s after a big squeeze and not seeing much interest from other buyers. I covered most at the $7.30s and $7.10s, and I'm still waiting for the $7 to crack. It might not crack, but it's fine since I only have ⅕ size still in the trade.

Before the challenge, I would have gotten in earlier. Most probably, I would have been one of the sellers who got squeezed. I would have chased one of the minor spikes out of FOMO. The December challenge helped me with the fear of missing out. I'm not trying to instantly make up for the losses incurred, and I'm trading just to trade well while focusing on the risk/reward ratio.

I'm really excited to see how this month turns out!

Do you have any questions regarding the PnL challenge or any other topic? I'd be happy to answer them - hit me up on Twitter or in Youtube comments!

...more
View all episodesView all episodes
Download on the App Store

B The TraderBy Alex B

  • 4.8
  • 4.8
  • 4.8
  • 4.8
  • 4.8

4.8

353 ratings


More shows like B The Trader

View all
Chat With Traders by Ian Cox and Tessa Dao

Chat With Traders

1,994 Listeners

Top Traders Unplugged by Niels Kaastrup-Larsen

Top Traders Unplugged

587 Listeners

Desire To Trade Podcast | Forex Trading & Interviews with Highly Successful Traders by Etienne Crete

Desire To Trade Podcast | Forex Trading & Interviews with Highly Successful Traders

103 Listeners

Swing Trading the Stock Market by Ryan Mallory

Swing Trading the Stock Market

809 Listeners

The Trading Coach Podcast by Akil Stokes

The Trading Coach Podcast

216 Listeners

Trading Nut | Trader Interviews - Forex, Futures, Stocks (Robots & More) by Cam Hawkins

Trading Nut | Trader Interviews - Forex, Futures, Stocks (Robots & More)

224 Listeners

Investing With IBD by Investor's Business Daily

Investing With IBD

380 Listeners

Stock Market Options Trading by Eric O'Rourke

Stock Market Options Trading

297 Listeners

The Day Trading Show by Austin Silver

The Day Trading Show

57 Listeners

Eurodollar University by Jeff Snider

Eurodollar University

463 Listeners

Trappin Tuesday's by Wallstreet Looks Like Us Now Network

Trappin Tuesday's

1,928 Listeners

Stock Market Today With IBD by Investor's Business Daily

Stock Market Today With IBD

41 Listeners

Stock Trading for Beginners by Tyler Stokes

Stock Trading for Beginners

62 Listeners

The Trader's Journey by Investors Underground

The Trader's Journey

16 Listeners

Words of Rizdom - Trading Podcast by Riz Iqbal

Words of Rizdom - Trading Podcast

29 Listeners