Background:
I have been a faltering trader for the past 11 years. I have had highs where I made 40-50% a year only to see it being wiped out by one trade. This is due to poor risk management or getting cocky and not accepting a loss when it hits me. I started off 2022 on a really good note making 8% in 2 months as you can see here.
teenfxtrader.wordpress.com/results/
In March, I made one bad trade and wiped out all my profits. I took a 6 week break trying to get my head right and it was hard to get back to trading. I met one of my trading buddies and he confirmed that my technical prowess was still intact but my money management was poor. I then decided to start documenting all my trades on Trading View with my stop losses revealed. I post all my wins and losses to keep up the discipline including my account balance. This puts a lot of pressure on me to trade really properly as there is no hiding from my mistakes. (Btw, cutting losses is not a mistake - letting it float is the mistake most traders make)
The other reason to start on Trading View
My son who is 14, handles these posts together with me. He understands every chart that is posted here and his dream is to run a hedge fund some day. While I was able to trade really well, I could not teach him discipline that I didn't have. The 11 days that I have posted here has been amazing. He has truly seen what good traders can do and how you can make money despite cutting losses.
Performance to date
We are just getting started but I know as long as the discipline is kept, we will win 75% of the time. The key is not to let one trade destroy you. Here is what was achieved in April 2022.
Total return from closed positions
SGD399.92
Return rate 1.68
Your return rate is above 1. This means your strategy is making money. Learn More
Win rate 72%
21 out of 29 trades were closed in profit. Learn More
Profit/loss ratio 1.32:1
Average profit was SGD26.74 compared to an average loss of SGD-20.19. Learn More
On the flipside, here is how the rest of the indexes fared:
2022 April DJIA Return -4.9%
2022 April S&P Return -8.8%
2022 April NASDAQ Return -13.3%
I hope this is the start of a journey for my son to beat the market for the next 50-60 years. He truly enjoys the grind and I am glad I can teach him the right trading mindset from young.
As you can see from our posts, our analysis for BTC, SPX, DJIA and the forex tools have been quite accurate. (Click play and you will be amazed at how good the turning points are). We hope you enjoy and follow and benefit from our postings.
Cheers,
Father and Son.
I have been a faltering trader for the past 11 years. I have had highs where I made 40-50% a year only to see it being wiped out by one trade. This is due to poor risk management or getting cocky and not accepting a loss when it hits me. I started off 2022 on a really good note making 8% in 2 months as you can see here.
teenfxtrader.wordpress.com/results/
In March, I made one bad trade and wiped out all my profits. I took a 6 week break trying to get my head right and it was hard to get back to trading. I met one of my trading buddies and he confirmed that my technical prowess was still intact but my money management was poor. I then decided to start documenting all my trades on Trading View with my stop losses revealed. I post all my wins and losses to keep up the discipline including my account balance. This puts a lot of pressure on me to trade really properly as there is no hiding from my mistakes. (Btw, cutting losses is not a mistake - letting it float is the mistake most traders make)
The other reason to start on Trading View
My son who is 14, handles these posts together with me. He understands every chart that is posted here and his dream is to run a hedge fund some day. While I was able to trade really well, I could not teach him discipline that I didn't have. The 11 days that I have posted here has been amazing. He has truly seen what good traders can do and how you can make money despite cutting losses.
Performance to date
We are just getting started but I know as long as the discipline is kept, we will win 75% of the time. The key is not to let one trade destroy you. Here is what was achieved in April 2022.
Total return from closed positions
SGD399.92
Return rate 1.68
Your return rate is above 1. This means your strategy is making money. Learn More
Win rate 72%
21 out of 29 trades were closed in profit. Learn More
Profit/loss ratio 1.32:1
Average profit was SGD26.74 compared to an average loss of SGD-20.19. Learn More
On the flipside, here is how the rest of the indexes fared:
2022 April DJIA Return -4.9%
2022 April S&P Return -8.8%
2022 April NASDAQ Return -13.3%
I hope this is the start of a journey for my son to beat the market for the next 50-60 years. He truly enjoys the grind and I am glad I can teach him the right trading mindset from young.
As you can see from our posts, our analysis for BTC, SPX, DJIA and the forex tools have been quite accurate. (Click play and you will be amazed at how good the turning points are). We hope you enjoy and follow and benefit from our postings.
Cheers,
Father and Son.
