Hello, I have decided to start this journal so I have a space and a home to track my development, thoughts on markets, trade strategy, psychology and probably most importantly for daily accountability. Also to get input, improve and share ideas with my fellow traders out there :).
Brief Background
I've been in the markets since March 2016, did the usual mistakes bought stock based on others recommendations, day-traded for a 1$ profit and next day I noticed the 1.9$ in commission, bought stocks which had dropped -25% just to see them drop to -50% etc...
Fast forward 2017 I was very much into index funds and modern portfolio theory, trying to figure out how to allocate between different assets to maximize my return and had some moderate success. Towards the end of 2017 I started finding these products called "futures":becky: and once I understood that it was simply a derivative of the index I was invested in I was hooked and started day trading ETN's, ofc I had beginners luck and thought this was so much better, easier and more fun than investing for the long haul so I sold more index funds to trade short-term, and in February 2018 I decided I was going to try this full time, yep some of you probably remember what happened February 2018.
Lost more money than I thought possible and probably 25x my best ever trade. But now in hindsight I'm glad it happened, this period taught me so much about risk and influenced me on guttural level, there is definitely a person before February 2018 and one after. Another reason I'm glad it happened early on is that even tough it was a lot of money for me at the time, it really wasn't a lot objectively.
One of the consequences of this period was that I got humbled and just wanted to learn, the studying, open mindedness and small sized participation has served me well as a guideline on what to do and what not to do. I also found an inherent joy in the financial markets, something about them is deeply interesting to me, it might have something to do with my competitive past in video games which once mastered becomes quite boring, markets are not what I would describe as boring.
Anyways I've spent too much time on this "brief" introduction already and its getting late, tomorrow I will get into my strategy trading the FDAX, Gold, multi asset portfolio allocations and some charts from the day.