Slug - Intro


slugFX

Well-Known Member
Hello traders,

I am slug (real name is Nick) and I am 24 years old. My inspiration to trade came when I read an article about a 20 year old forex trader that dropped 320K on a bar tab in one night. That is certainly not what I would do with that much money, but I just started to imagine what it would be like to have that kind of money. At the time I was also vacationing with my family in Arizona and playing nice golf courses so article gave me the idea that I could work for myself and live that life instead of just go on a week long vacation once a year.

I have been trading for about a year and 4 months. I am live with a 5K account and down about 2.4% overall. As you can see I have been struggling to turn a profit and have been floating around break even all year. My account balance curve looks like a jigsaw:



I am trying to do whatever it takes to become profitable.. it has been hard to motivate myself to wake up (even for just a couple hours) in the middle of the night for London Open because I work full-time and need to be waking up in time for work in the morning. I picture work as a way for me to raise capital for my trading, but this is not a realistic thought until I can turn a profit with my 5K account.

Most of my learning has been from ICT, I paid for a Price Action course/membership from someone promoting themselves at BabyPips and that was a rubbish system that didn't work out for me. I have also been through some of Vic Noble and Chris Lori's material. I read a lot of the psychology and mentality type of books like Chris Lori - Face the Trader Within, Trading In The Zone, Think & Grow Rich, & A Millionaire Mindset.

I think the biggest parts of my trading that need improvement are to never abandon my risk parameters, close the losers before they hit my stop loss, fill in the blanks on concepts that I don't fully understand yet about trading & the markets, and a consistent approach that allows me to be at the computer screen when I need to.

It will be nice to discuss trading with everyone and hopefully become better traders together!

P.S. I am going to try to post charts as much as possible to try and get feedback/constructive criticism on what I am doing wrong.

Slug
 

jack

Administrator
Staff member
Hello Slug and welcome! :)

If that's you're equity curve on your first live account, you're probably doing better than 99% of most new traders. Better than my first account for sure! :p

slugFX said:
P.S. I am going to try to post charts as much as possible to try and get feedback/constructive criticism on what I am doing wrong.
Please do, many here are happy to review. :)
 

Alpha-Bet

Well-Known Member
Hey Slug. Welcome mate.
That 320K dropped at the bar is up for debate. Rumour has it that it was a friends club and the whole thing was a PR Job.
Anyways, bloke's facing court on suspicion of financial services offences and fraud... doesn't pay to stick your head up out of the trench, especially in the City.
Best of luck with your trading journey.
 

slugFX

Well-Known Member
Ha! Really? I'm not that surprised actually, but at least I can thank him for the inspiration and getting me into trading :) maybe one day I will be dropping 320K at a bar... no.. no.. that will never happen regardless of how much money I have.

Alpha-Bet said:
Hey Slug. Welcome mate.
That 320K dropped at the bar is up for debate. Rumour has it that it was a friends club and the whole thing was a PR Job.
Anyways, bloke's facing court on suspicion of financial services offences and fraud... doesn't pay to stick your head up out of the trench, especially in the City.
Best of luck with your trading journey.
 

jack

Administrator
Staff member
slugFX said:
Ha! Really? I'm not that surprised actually, but at least I can thank him for the inspiration and getting me into trading :) maybe one day I will be dropping 320K at a bar... no.. no.. that will never happen regardless of how much money I have.
Yup.. most wealthy people I know (new rich types, not trust fund kids) didn't get there by spending wildly, and once they arrived in the 'rich' category of life, they sure as heck didn't start. (That's not to say they don't spend mad cash at times or splurge, they still do, but it's not over bar bills and news worthy extravagance...)
 

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