We left you with quite the cliffhanger in episode 57, but the wait is over! We pick right back up with Shawn (same name in chat room) and her journey as she tells us about entering her first trade and then growing the account from there. Like Part 1, this second half of the interview is filled with just as many little nuggets of wisdom, if not more. Shawn gives a humble and heartfelt look into what worked for her, what didn’t, and how she handled all the various scenarios.
Notes:
After doing some paper trading with actual pen and paper, Shawn realized that this would not be as easy as she initially thought. She realized if you practice your chart reading and practice your risk vs reward you will trade intelligently.
Shawn had the courage to press on in her journey instead of quitting after losing money initially. She recognized her investment in herself and decided to narrow down the list of tickers she would start to watch continuously.
Once she got her expectations in line (she just wanted to perform better than leaving the money in a savings account), her trading really started to take an immediate turn into profitability. After spending more time paper trading REALISTICALLY, Shawn then transitioned to live trades and just mimicked what she had been practicing.
In her first month, Shawn went from $250 to over $1400 generally only taking one trade per day. As her profitable weeks increased, she allowed herself a little more buying power. This type of compounding coupled with sound risk vs reward led her to almost a 600% return in the first month.
To ensure that she wasn’t experiencing fool’s gold, Shawn then got a part time job at night to provide further relief knowing that she still has some stable income in the event this was all luck. This type of stress relief can make such a large difference in trading since the pressure of HAVING to make money every day is reduced.
Since then, Shawn has now reached her goal of getting her account to $10,000 and she did it all herself. She is a shining example of what hard work and dedication can achieve in any aspect of life and we look forward to hearing about her continued success.
Quotes:
“I was expecting to double my money and to make rent in a day. I went back to training and remembered it’s about the charts.” tweet this quote
“I have $700 dollars. On the paper side I had 100k. You don’t have enough money to trade the way I’ve been practicing.” tweet this quote
“I made one trade a day. I waited for the market to do what I wanted to see from it. I mirrored what I did paper trading.” tweet this quote
“After a month, my account was almost at 1,300. I gave myself a raise for my buying power on a weekly basis. That is how I built it.” tweet this quote
“It was my goal to get to $10k. I did that by myself starting with $250 and now I don’t have to put all my money on the line at once.” tweet this quote
