How or why did you start trading?
#trading
I've spent nearly 10 years on Tradingview.
But after doing this since the age of 15; it's been interesting and fun (don't worry, this is not me retiring) I just wanted to share some of the key points, the ups and the downs, the challenges and the rewards.
For those of you who don't follow or know me, my trading started after a school trip from Wales (in the UK) to New York's Wall Street. We went to learn about the Wall Street crash and visited the exchange. Needless to say I was hooked!
My early years of trading, I would take the pushbike to the bank and trade stocks from the Times newspaper, it was always over the phone via the bank broker, I had to do this via my mother as I wasn't old enough for a stock account through my bank.
These were large cap stocks, things like Vodaphone, Cadbury's and ones most people could identify with. These were never big trades just the experience I guess. How I funded this was, I dropped out of school not long after that trip to New York, no qualifications, just the idea of being a trader and taking over my father's engineering company.
I would work as an engineer, still live with my parents, and buy stocks.
It wasn't until a few years later I got into penny stocks. I guess for me - seeing the Wolf of Wall Street movie, it was a bit like that: you would buy stocks for fractions of a penny and watch them pump. Some traded better than others but still had very little knowledge; trading wasn't as accessible as it is today.
I guess looking back this was very similar to what I see in crypto today, especially with alt coins.
about 5 years into the journey, I ended up getting into Forex where I guess I have stayed ever since. This was fast-paced compared to stocks and the markets being open 24 hours a day 5 days a week. I would take long term trades such as the difference between the interest rate of the New Zealand Dollar vs the Great British Pound for example. It just felt like free money. (those were the days).
From there I also started trading Gold, Oil & SPX.
Running in parallel, I ended up in the tech space; investing in cyber security around financial markets. I keep little souvenirs of the journey like this card from buying my first Ferrari. It reminds me of why it was interesting in the first place!
I think you need this as a trader, I have written several articles here on Tradingview about the psychology and loneliness of being a trader. Two of my favourites are the Simpsons one and the other side of the trade. Doing things you wouldn't usually do is part of creating your inner trader.
I was fortunate enough to get into Bitcoin early doors, right place, right time as they say.
From 2012 onwards been educating, mentoring and advising people and what a journey that's been. I have met some great people along the way. This brings me back to the upside, downside and, of course, the psychology and emotions of trading.
Trading can be a very lonely place to be if you have nobody to share the wins with in real-time; it's hard when you manage losses and keep them to yourself. Of course it's very, very rewarding when all is going to plan!
I can't emphasise the importance of a community, it's actually one of the reasons for posting this post.
With access to charts and brokers directly on your phone, it's an incredible change from the time I first started. But it can also bring a lot of hidden dangers, it's a unique type of lifestyle. I understand not everyone trades for a living, it's a hobby or a way to earn some extra money. But the ups and downs of this can have a strain on mental health.
Fear and greed is a real thing, not just a sentiment indicator. We are human after all. It's so easy to fall into a false sense of security after a couple of nice wins. But it's even easier to go off the rails after a handful of losses.
Some really cool factors for me when it comes to trading, would have to include doing one of the Tradingview shows with Stefan back last year
tradingview.com/streams/WDxxroSNgb/ and discussed the fact that a notebook I had made for my 11 year son had been published as a book. Never thought I would become an author after dropping out of school.
Part of the reason I stream here and write educational posts is I love to keep the trading game live and current. Watching Bitcoin unfold and become institutional has been such a pleasure and amazing to watch it transition. It's been a great way to interact with people from all around the world.
I guess the point is, the power of the internet and a platform like Tradingview; allows us to share such stories with the world.
What I have learnt, is that new traders come to the market with a certain expectation. Often, people assume they need more indicators, more screens, more news and more instruments.
What you realise over time, is you can make a living from a handful of instruments and a little bit of logic.
I'll kick it off by saying what I don't like about trading is how lonely and isolated it can be. What I do like about it is the freedom it brings.
I would love to hear your story, why you started trading, what you like or don't like about it and anything you feel like sharing!
Anyways; I just wanted to share this little post and get some discussions going. Have a great weekend and I'll see you on the next stream.
