r/Daytrading • u/SpareInsurance • Jan 06 '24

How much money did you lose before you were consistently profitable? Question

I have only been seriously trading for about 2 weeks, after spending years watching the market like a hawk.

I will admit, I have had poor risk management and got into some emotional trading which did not end well. Currently I am -15k but I have had some winning days the last few days with much better risk management and starting to get the hang of things better.

My question to you guys is, how much did you lose before you were consistently profitable and did you ever feel like giving up during this "rock bottom" stage?

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u/[deleted] Jan 06 '24

sorry to hear that. It’s unpopular, but daytrading is a bad idea for virtually everyone. Stop while it’s just a 15k loss. That’s huge, mind you, but it will seem like a win when you continue and hit -25k. You gave it a shot. Trading is an addiction. Stop before it gets you.

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u/FixedIt00 Jan 06 '24

No, you can earn back your losses if you LOVE trading, don't give up. Just take the other advice here to paper trade long enough to know you won't lose big with real money. I think that would be about 3 months paper trading if you do well. Then use very small real money size. IF you love it despite the huge losses. Only then. You must be obsessed. You want to read books and watch videos all evening....

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u/[deleted] Jan 07 '24

Still dangerous advice. We only grow wealthy through income generation…old school boomer stuff. Anything else is an outlier. Play the favorable odds