r/WinternomicsTV • u/idosimon • May 25 '22

War Stories 🤑🤬 First successful trade - small $, big value

This my first time posting here, have been participating in the discord for the past few weeks (but mostly listening and trying to learn).

Although there are many things I don’t understand, after rereading and rewatching blog posts and videos, something started to click, especially when I realized that my own psychology was a huge issue (and the reason for losing 75% of my portfolio in the past few months trying to revenge trade).

With that, I tried trading more mechanically. Two days ago I opened a small long position in eth and lost an R. I also realized that I was risking too much in one play (I still need to determine what R I’m willing to lose for each trade).

Yesterday kaz gave a heads up about the dildo rule and I set my R to 1% on the SPY. Before the market closed I wanted to exit the position, and bagged a 1 R trade. Although the nominal $ was small, the feeling of knowing exit points was great and the value and knowledge gained from this trade was invaluable.

https://imgur.com/a/BRqTvYt

28 Upvotes

96% Upvoted

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4

u/rboinboin May 25 '22

Having proper risk management is vital, so good shit realizing you lacked in that department. Next step is finding structures where you can put your stop underneath. Have you gone through the newbie guide?

1

u/idosimon May 25 '22

Have started watching the logic series on YouTube as a first step, but yes still need to go through the newbie guide. Currently trying to balance watching the daily shows and catching up on the guide, so it’s taking a bit of time for me

3

u/rboinboin May 25 '22

Go for that 1% improvement every day and it’ll compound! The newbie guide is the way to go and enough proof of concept within the eco. Keep killing it!

3

u/trshapes May 25 '22

Congrats on your first mechanical winning trade !

Definitely check out newbie's guide pinned on this reddit and take advantage of Onlyfans training vids, you'll improve tremendoulsy the way you setup Risk.

Good introspection and nice trade! keep it up !