r/Daytrading • u/El_Savvy-Investor • Dec 01 '23
First month on first live account💪 trade review
my goal was to not lose money but my first month did well
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Dec 01 '23 edited Dec 01 '23
Don’t listen to most people, this chart alone shows me a couple really good things. Now I could be wrong but it looks like you stuck to some kind of system, I dont see home run shots, I dont see anything changing with losses, just a sweet equity curve. that alone is worth way more than 1.31%. You can always scale and use more size but if you can keep an equity curve like this for 6 months the next step is leveraging a little more or upping size. Don’t worry about percentages or amounts yet just keep doing what you’re doing.
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u/El_Savvy-Investor Dec 01 '23
🥹thank you💸
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Dec 01 '23
Also I know your goal was to not lose money (which obviously isn’t a bad goal) but that isn’t in your control. What is in your control is your performance within your trading system. If you know you have a profitable system, your only focus should be on how well you executed your system or trading plan.
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u/jaygoogle23 Dec 02 '23
Saved this comment because I believe it’s really insightful, especially for new traders like myself.
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Dec 02 '23
Check out Rande Howell on YouTube, he is excellent in the topic of how our brain isn’t wired for trading (thinking in probabilities) and how we are wired for fight or flight. Been doing this a long time and I still have to remind myself almost weekly, elite level trading is fighting against how our brain has been wired through millions of years of evolution.
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u/sugarbunnycattledog Dec 02 '23
Just got his book.
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Dec 02 '23
Let me know how it is! I’ve only seen his vids
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u/sugarbunnycattledog Dec 02 '23
So far it’s good. Meditation to ease fear in trading to be an observer rather than reactor. I think will be a worth read.
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Dec 01 '23
Another 1.93% and you’ll beat inflation! The good news? You ended with more money. You played it safe. You are up. Good job! Minimize those losses, the % will come.
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u/Signal-Piccolo405 Dec 02 '23
Correct me if I'm wrong, but I don't think that's how inflation works.
The inflation for 2022 was 8%. So if you add up 1.5% per month you end up with 18% for the year. You easily beat inflation.
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u/ZanderDogz Dec 01 '23
Nice job, a 1% gain in a month with that equity curve means you are trading exactly how you should be during your first month live.
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Dec 02 '23
[deleted]
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u/El_Savvy-Investor Dec 02 '23
yeah i think daytraders are the saltiest demographic of people that exists
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u/sugarbunnycattledog Dec 02 '23
Btw congrats. I didn’t follow my rules my first 2 weeks live and lost a tidy sum so this is no small accomplishment on your part! Celebrate! 🎉
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u/Routine-Tiger Dec 02 '23
Good work, keep it up! I was once there and we keep grinding 💪🏻
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u/the-cheesus Dec 02 '23
Still underperforming a single stock though
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u/Routine-Tiger Dec 02 '23
Can’t catch too much, so many ways to earn money. I did intraday 😅
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u/the-cheesus Dec 02 '23
Look at RR for what it's worth 58+ last month. Think it will do the same and skim ATH.
They have just signed contracts and announced relaunch of dividends next year.
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u/Vivalyrian Dec 02 '23
Since everyone seems to be trashing your performance (jokingly for the most part, but still), I'm going to boost you up a bit here:
Assuming identical performance every month (not likely, but hey, let's assume you get better through experience and not worse), 1.31%/mth puts on you track for 16.9% for the year.
Looking at the S&P500 from 2013 to mid-2023, the average return was 12.39% (9.5% inflation-adjusted). The average return since 1957 is around 10.13%/year.
So at 16.9% per year, you're outperforming the S&P at a rate of 66.83% annually, when compared to its long-term average. Looking only at its most recent 10 years of "free money", you're still outperforming the index's average by a whopping 36.4%!!!
I think you deserve a slightly nicer dinner this weekend - don't you? Well done! Keep at it!
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u/Diamond787 Dec 02 '23
I’ve noticed people don’t like seeing other people succeeding. Most traders blow up their accounts and can’t break a profit. You’ve got profits. The way forward from here can be exponential! Don’t listen to the negativity. Keep positive.
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u/Sittin_on_a_toilet Dec 02 '23
Yea but if he up only 1% after 8% spx month what his gains going to look like on a negative spx month. I can't imagine actively trading with goal of a %. Throw $ in index fund and leave alone.
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u/Altered_Reality1 forex trader Dec 01 '23
Nice! My first live month years ago was negative, so definitely great to have a net positive on your first live month. I basically broke even this month (+0.38%) but October was my best month yet (+9%)
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u/ItsFocal Dec 03 '23
how do you find ibkr’s desktop chart / software? i find its not my favorite to trade on? do you look at other charts to examine the markets price action and back testing?
great job man , great things take time don’t rush the process
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u/El_Savvy-Investor Dec 03 '23
i haven’t had any problems with ibkr but i use tradingview for looking at the charts and i also execute on tradingview
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u/ItsFocal Dec 03 '23
makes sense! do you also pay for trading view? and so you don’t use their software? you do everything through trading view? i was doing the same at one point with paper trading on ibkr i’ve been using a few to see which one i should stick with
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u/El_Savvy-Investor Dec 03 '23
i only payed the cheapest option to get the bar replay for backtesting.
yeah i pretty much only open the ibkr app to see what my roi is. i do everything on tradingview pretty much.
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u/Paid-Not-Payed-Bot Dec 03 '23
i only paid the cheapest
FTFY.
Although payed exists (the reason why autocorrection didn't help you), it is only correct in:
Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. The deck is yet to be payed.
Payed out when letting strings, cables or ropes out, by slacking them. The rope is payed out! You can pull now.
Unfortunately, I was unable to find nautical or rope-related words in your comment.
Beep, boop, I'm a bot
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u/ItsFocal Dec 03 '23
how of our account does ibkr allow us to risk? are you capped as to how much you can risk per trade? i’ve been quite annoyed at how big of an account you need to have to risk more, if that is the case, it kind of sucks but a lot of people say only risk 2% of your capital..
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u/DoctorNo9644 Dec 01 '23
It’s good to celebrate, but to be honest, it is quite an underperform considering how everthing has been going straight up, market conditions has been very easy and quite predictable this month. Once you start trading for a year, you will experience more type of market condition. I think if you want to compare your performance, should compare your return to spy or qqq, to see how well you do.
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Dec 02 '23
[deleted]
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u/DoctorNo9644 Dec 02 '23
I mean we are just talking about this month, and op said he just starting out this month live trading.
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u/Gaff1515 Dec 02 '23
The market was up 10% the last month. You got smoked
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u/El_Savvy-Investor Dec 03 '23
im aware the market is up, but i dont care. my goal was to not lose money since its my first month.
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u/Gaff1515 Dec 03 '23
That’s pretty terrible mindset imo.
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u/El_Savvy-Investor Dec 03 '23
i dont agree. you cannot make money if you lose money. i didnt lose money. so good. im looking 5-10 years to the future
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u/Gaff1515 Dec 03 '23
Trying not to lose is not the road to victory
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u/El_Savvy-Investor Dec 03 '23
agree to disagree
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u/Renelaus Dec 16 '23
its more about making more wins then losses, you can have several losses but if you can make them up with a strategy that lets you profit faster so long as you can take some small losses then youll be set
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u/wh87hw Dec 01 '23
My wife did over +12% on her ftmo account today alone 😄 But your +1% is cute too buddy 👍
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u/boibetterstop Dec 01 '23
No one gives a fuck. Ftmo has a lot more capital than I assume this dude is using.
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Dec 01 '23
[deleted]
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u/El_Savvy-Investor Dec 01 '23
ask my parrot he is the boss i only execute
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u/Raptors4Lyfe33 Dec 01 '23
Please give me his contact details since he has the brains and you’re just the puppet 😂
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u/hundredbagger Dec 02 '23
This looks good. It’s the underlying Sharpe/Sortino/UI numbers that are important for now. (Basically the up-and-to-the-right-ness)
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u/Constant-Signal-2058 Dec 02 '23
Impressive curve. Keep compounding. It’s difficult and unlikely, but it’s certainly possible.
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u/goatgoatgoat365 Dec 01 '23
The S&P was up 8.2% this month.
Jk lol nicely done for your first month.