Since I opened up a discussion with my readers, my inbox is filled with questions. Although I can’t answer every one of you individually, I do want to help as many people as I can to make money in the markets.

My team and I diligently sift through all of your questions and find the most common ones. This week, we’ve seen the same question over and over again…

How did you become a successful trader and turn $15K into more than $7M before the age of 30?

Before I walk you through the necessary steps I took to become a consistently profitable trader, I want to tell you about my journey.

Now, you may think I’m a whizkid who is just a natural at trading the markets… but that couldn’t be further from the truth. I was a UCLA college graduate who worked a 9-5 job at a real estate firm (it had nothing to do with what I got my degree in, as I studied biology). 

At the time, I was living out in LA, making just $32K a year. It wasn’t easy living off that salary and I knew I couldn’t live in that fashion… so I figured out ways to scrape up some extra cash because I knew the stock market was my ticket out.

I was able to save $15,000 and put that into a trading account. Of course, I was scared at first because it was my hard-earned money and I was going to be trading against pros. So I searched for the Holy Grail and tested out a handful of strategies — even ones that weren’t proven.

Guess what happened with my account?

I ended up losing half of my money and I even contemplated about stepping away from the game forever. Luckily I didn’t because I would’ve still been struggling to live in LA. Instead, I went back to the drawing board.

I tirelessly looked through all my trades to try to find exactly what I was doing wrong. I knew the market could be beat and all I needed to do was find an advantage over the competition. Of course, I had to look for different ways to get by because I had lost nearly $8,000… so I had to save on meals and get $5 burritos…

 

 

So how did I turn it all around?

 

Write Down All Your Trades And Review

 

I found the mistakes from my losers and cut those strategies out real quick. I started to treat trading like a business. I detailed all of my trades… and I quickly realized what was costing me money. After I started to journal and review my trades, that’s when things started to take a turn for the better.

Basically, I wrote down everything about the trade:

 

  • Date, Time, PnL and Stock Symbol
  • Thesis. The reason I was getting into the trade. It’s your trade idea and it could be anything from a technical pattern, fundamentals or catalysts. 
  • Execution. The entry, stop-loss, target, and exit prices.

 

It’s not enough to just write these details down… if you want to become a successful trader, you need to find patterns in what you’re doing right and what you’re doing wrong.

I did find a few winners and found a simple and repeatable pattern. Of course, once I figured out what was working, I silenced the noise and focused on my edge. That allowed me to time my entry and exit to near perfection with catalysts.

I couldn’t believe how simple trading was after that. With just about $7,000 left in my account — I quickly turned things around and made approximately $44,000 and I was finally a profitable trader.

I was ecstatic I made more than I did at my job at the real estate company. But having a job was safe, so I decided to work full-time and trade whenever I had the time. 

By the second year of my trading career (still working at the real estate company for the most part), I focused on my pattern and made more than $800,000. I thought long and hard about whether I should quit my job and trade full-time. 

I walked over to my childhood friend’s cubicle one day (we both worked at the same firm), and I asked him whether he thought it was a good idea to quit my job and start a career as a trader.

I remember it bright as day. He asked me, “How much money do you have saved?”

I told him, “About $840K.”

All I could remember was the face he made. He looked at me as if I was crazy… and he just told me, “Quit your job man.”

Of course, I did, and I couldn’t be more grateful that he gave me the confidence to pursue my career in trading.

A simple AMA prompt can’t really explain exactly how I became a trading success… and I decided to give back to the trading community. So you’re invited to a full week of training. For 6 straight days, you’ll discover EXACTLY how I recovered from losing half of my trading account… and turned it into $838,000 in my first two years of trading.

Click here to claim your seat to my week of crucial lessons and fast track your trading success.

Author: Kyle Dennis

Straight outta college Kyle Dennis taught himself to trade, and then made over $7 million in trading profits by the time he was 28 years old. Kyle reveals how to find, track, and profit from lucrative trades for exceptional profits. Thousands of traders follow him every day to learn how to target these high probability trades.

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