Miles J. Stoner, @StockHollywood

Dallas, Texas


You Won't Make It

Most of the time we are obsessed with making it. Our definitions of the term differ widely, but typically you can narrow it down to one line of thought: Making it means Money. Now you can just make money simple and plain because we all make money, but you have to be able to make enough to live comfortably. In our profession this means little bit of homework, wake up little before open, hit your trades up and walk off with I'm assuming anywhere from 1k to 10k+ depending on the size of your portfolio at this point. I'm not going to sugar coat it for you, you wont make it, not day trading. Not continuing the way you are. Most of us fail our first 1-2 years in the game, then more later and even after you think you've made it, then you fail later. Reason why you wont make it is because you don't understand why you are making money when you do. I think its a bit easier to understand why you fucked a trade up sometimes than to understand why you made money when you made it. Only reason I say this is because you don't give a fuck why you made the money, all you know is that you did, your accounts bigger and you can pay bills or blow it. This is why you wont make it.

You have to adapt, constantly changing and understand why you are and why you should to the point where you don't have to think anymore, you can just change with the tide of the market because that's what is called for. Your ego is too big to adapt, to change, to make the decision to be different so you won't make it.

You have to be aggressive, not to the point where you are adding to a shit position, but when it comes to taking a trade with the size that you know when it works will make you the kind of money to "feel" like a win. Most of you get in the game with this mentality, make some $, then reality sets in and you suck & you $ sucks. Then you get on the other side, where you trade so small, so slow, what you are doing: be it may; not pointless, but how can you live off little money? You can't, hence, you won't make it.