Year In Review: Lessons from My Trading Journey

Introduction

• Reflecting on the first year of this journey.
• Resources created this year:
  • 6-Month Blueprint
  • Community on Skool (almost 1,000 members)
• Podcast structure:
  • Recap of the year.
  • Key lessons learned.
  • Plans for the upcoming year.

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Year in Review: Lessons Learned

Trading Psychology

• Overtrading, chasing, and FOMO lead to losses over time.
• Patience and recognizing that opportunities always come are key.
• Trading psychology is as important as strategy.

Tools and Resources

• Community: Consider joining our group on Skool.
• Paper Trading: Essential for practicing without risking real money.
• Market Data: Not critical initially unless your strategy depends on precise price points.
• TradingView: My primary charting tool. Sign up for free here. Pair with a brokerage for market data if needed. Find tutorials in our Skool group.

Strategies and Approach

• Day Trading Isn’t for Everyone: Explore strategies that suit your lifestyle:
  • Momentum Trading: Works for my schedule; focuses on higher timeframes (weekly/monthly charts).
  • Avoid being tied to daily in-and-out trades if it doesn’t fit your time commitment.
• Trading Styles:
  • Scalping: Very short timeframes (minutes).
  • Day Trading: Close positions daily.
  • Swing/Momentum Trading: High timeframes, longer holds.
• You don’t need to use complex setups or chase news narratives—charts tell the story.

Mentorship and Community

• Finding a Good Mentor/Group:
  • The Great Mattsby’s strategy works for me.
  • Other mentors/groups exist but vary in quality.
  • Free resources like the Real Day Trading Reddit group are excellent starting points.

Learning to Trust Charts

• Many beginners struggle to trust charts and may rely on news narratives.
• Over time, as you watch trends, cycles, and patterns, the charts start to “tell the story.”
• Technical analysis assumes all known information is already reflected in price movements.

Challenges & Adjustments

• Limited time due to family commitments (newborn and toddler).
• Adjusted to a strategy that allows limit orders and lower daily activity.
• Balancing existing investments (e.g., Tesla) with starting real-money trading.

Looking Forward: 2025 Goals

• Transition to trading real money in Season 3.
• Document and share trades transparently in the Skool group to:
  • Maintain accountability.
  • Provide members with insights into the strategy.
• Evaluate trading returns versus holding long-term investments like Tesla.
• Continue exploring and refining momentum trading strategies.

Advice for Beginners

1. Start Slow: Begin with paper trading and focus on learning.
2. Experiment: Review the basics of different strategies (scalping, swing trading, etc.) to find what appeals to you.
3. Find a Mentor/Group:
   • Start with free resources like the Real Day Trading Reddit group.
   • Consider paid groups but vet them carefully.
4. Patience Pays: Learning and succeeding in trading can take 1-2 years or more.
5. Tailor to Your Lifestyle: Your schedule and commitments will determine the best strategy for you.

Closing Thoughts

• Thanks for being part of this journey!
• Check out the resources in the show notes.
• Season 3 will focus on real-money trading and transparent sharing in the Skool group.
• Subscribe, join the community, and stay tuned for the next season!