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PaxTrader777
@paxtrader777
, 3 tweets, 1 min read Read on Twitter
Do NOT every trade to make back money. If you lost money in 1 trade or a series of trades-walk away. Come back take another look. Focus on the levels, trade the market we have at the time without making something out of nothing. Don’t trade to make back money. 1 trade at a time!!
It should have said do not EVER trade to make back lost money.
I have seen so many traders chase a bad trade with another bad and so on that they wind up throwing good money after bad. We need to focus one at a time. I can’t stress how VIP it is to NOT ever chase lost money. The only trade that matters is the next one. Be there for it
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PaxTrader777
@paxtrader777
I was a top step arb clerk in the front month Eurodollar pit for 10 yrs before I earned my shot at trading. I didn’t want to fill orders. I wanted to trade. I knew nobody when I walked in the floor. No rich dad. I had to earn it. My boss backed me, I borrowed trading capital.
Clerking for one of the biggest brokers on the floor trained me to see and hear and compute a lot of info and act on it quickly. That stood me well as a trader. First 6 months I couldn’t make a nickel. Seat leases were $2800 a month. New wife and a new baby. Bartending at night
To pay the mortgage on our condo. My ex wife and I worked hard to give me the time to learn. The #nq_f was $100 a tick then. I had $251 in my account. Looking for backers or a clerk job, I met Judd Hirschberg @whitewavetrader. Judd was one of the best Yen and gold traders ever.
Read 22 tweets
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PaxTrader777
@paxtrader777
I posted the video of my son for a few reasons. 1, I am proud of him. But also for all traders, we always need to show courage to overcome obstacles. We need strength and stamina to do so. We have to know ourselves and never give up we always have to overcome and adapt on the fly
Only way for me as a trader to have intellectual, physical and spiritual stamina to overcome obstacles and adapt to changing market conditions was to restructure my life by developing good habits through my daily routines that start with everyday rituals. Good habits=trust.
I have to trust myself in order to keep focused and stay in my lane. If I stay on my lane, I come to the screens everyday knowing I will make money. Just a matter of how much. Now-I do NOT make money everydayay-but I expect too. I always learn something. Happy reading all
Read 4 tweets
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PaxTrader777
@paxtrader777
I began tweeting to help a friend last Aug. I never set out to draw attention to myslef. Helping others to learn to trade has always been VIP to me-makes what we do a bit more fulfilling. There isn’t much a trader can go through that I haven’t already gone through.
I started on the CME floor not knowing a soul. I was a runner in lumber out and back month Euro’s. I quickly decided that whatever was going on there, I wanted to be part of it. I began working my way up from runner to head arb clerk for one of the biggest brokers in the Euro pit
I took a 3 yrs off to study for the Catholic Priesthood. Celibacy was not my bag, but service was. I went back to my old job and was married at 28 with my first baby at 29. I got my shot trading then. I bartender 6 nights a week. I worked to learn to trade. Couldn’t figure it out
Read 11 tweets

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angelo
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