From a member who made 100k plus this month

 modelstocks6:33 PM Jan 24th 2022

Hit a major milestone today - personally (100K club for the month of Jan) and for the active trading account (+25% YTD), and thought I should write something about my background and journey so far.

Background:

• Full time boot-licker with the luxury of "working from home" for one of the FAANGs
• Been in markets since 2017, with a lot of preconceived notions and having committed every mistake in the book
• 2020 COVID crash was a wake up call where I picked up your usual trend following books to get acquainted with proper instruction. Things I fixed during this time were: Taking losses, Running scans, Identifying Stocks/Setups, Being aware of expectancy and risk/reward relationship etc.

Little did I know that a lot of my "success" in 2020 was attributed to a favorable market for breakout traders. 2021 was another set back with the constant sector/theme rotations. As you can see, account had been in consolidation for most of 2021 largely attributed to a choppy market, and me not having a sound process to adjust for that.

(Refer to annotations in equity curve of the active trading account above for timeline details)

(1) Joined Stockbee in August of last year after watching Pradeep on Richard's channel. A lot of what he said just made sense.

(2) Kept following my deficient process and doing the same dumb things as I digested the material on this site and daily videos. These "dumb things" and deficient process can be categorized as: trying to position trade in 2021 (lol), getting attached to a position as I had "fought" for strong entry points (lol), not peeling/selling into strength, having modest SA but not changing my tactics, not sizing up when my edge presented itself, not knowing how to short etc. I call these my trading demons.

(3) Religiously took momentum burst setups from the combo scan and thought I had discovered the best thing since sliced bread. However, I kept doing a lot of the same dumb things mentioned in (2).

(4) Confronted each of my trading demons and made a commitment to myself that the only thing I'll care about from here on is my equity curve. In particular, I started making a conscious effort to: not just be aware of SA but incorporate it into my tactics, sell into strength, T3A, don't predict - observe & act, size up when your edge presents itself.

(5) Further addressed my deficiencies by learning WSS. If I was smarter, I'd have done a deep dive in my first month on this site. Instead I got chopped up most of Q4 last year and learned WSS by just doing it. Thankfully, this entire month has been a fortuitous time to take the leap of faith with WSS.