Part Time Day Trader Has An $82k year

Let’s dig into his performance

Attributes of a Winning Trader

Let’s look at the attributes of a winning trader…

Ok, so let me give you some backdrop.

  • This trader started trading in lockdown
  • He joined Traders Mastermind shortly after he started trading
  • He has a very busy job and is a family man, so trades when he can
  • Like the rest of us when we started, he had no strategy, poor discipline, and no edge
  • But he very quickly realised he didn’t need to be an expert at everything
  • So he focused on one market, one timeframe, and a few setups
  • Last year he booked his best year yet…$82k
  • His goal is $250k for 2024

So what can we learn from this trader?

Trade Frequency

Look at how selective he was with his trading.

Some months he traded less than 5 times, for others he took the whole month off…

He took the concept of less is more and made it a mantra.

  • If the market doesn’t look right, he doesn’t trade
  • If he’s busy with his day job, he doesn’t trade

And yes, he does feel anxious about the fact he can’t be in front of the screen all the time, but he’s learning to be at peace with it.

Doesn’t fight it, or try and make up for lost time with substandard trades.

Consistency

Steady as she goes, trading what’s there, not accepting wild swings in P&L.

Consistent numbers month after month. (Except for August when he just took the whole month off!)

Holding winners and cutting losers

He’s brutal with cutting losers.

Does that mean a lot of trades go without him?

Yep.

But he knows that this is the cornerstone of a good equity curve, so accepts the frustration that can come with it. It’s worth it.

Improving year after year

Incremental improvement, long-term thinking, one foot in front of the other.

There’s nothing here that you haven’t heard before.

  1. Cut losers and holding winners
  2. Trading less
  3. Simplify your edge and focus your energy
  4. Be patient

This is a trader who started 3-4 years ago and has now developed a skill that will serve him for life…

This isn’t the Instagram trader pictured in front of Lambo’s with duffel bags of cash.

This is a real person.

A hard-working family man, who has chosen to learn how to trade and is starting to see the rewards.

He knows it’s a marathon, not a sprint.

I hope this inspires you for the year ahead…

Where could you be in 12 months?