What a week it has been! This morning capped off my most successful day of trading as a side hustle yet. All of this week, I have been ripping through milestone after milestone after milestone. The most important thing for me at this point is to remain humble and ensure that I don’t get overly confident when taking my trades in the future.
I made $300+ today in the way that I have been in the past few days. By focusing on opportunities and waiting for them to present themselves.
Here is a screenshot of my profits for today:
As you can see, I stayed away from the Natural Gas ETNs such as UGAZ and DGAZ and opted to trade the Crude Oil ETNs, DWT and UWT.
Here is a screenshot of my buys and my sells:
I found trading this ETNs to be much more successful because the bid and ask spread is MUCH smaller, which allows me to be more precise with my entry and exit points.
Also, I found the overall directions to be more consistent. Today was a textbook morning for the market, as patterns repeated themselves over and over.
Here are some keys that led to my success today:
Key #1: Referencing my Indicators, but not relying on them
My indicators are the RSI, MACD, VWAP, EMA, and SMA indicators. If you want to learn more about these indicators, how to set them up, and how to use them to trade, join my free Facebook group.
Basically, these indicators give me a reference point of where patterns tend to change direction or provide opportunity for growth.
I am in the process of writing a book explaining every aspect of trading in more detail, so make sure to subscribe and stay tuned for that.
Key #2: Knowing when to take profits
There were definitely some times that I could have held the position that I had to make a little more money. However, I think the mindset that I brought today of locking in profits at any sign of a resistance is what led to my success.
I don’t believe that there was any point where I felt like I was getting greedy, and I always locking in profits when I had the chance.
I believe I took about 4-5 positions today, which each one having a profit of around $50 to $75.
Especially with trading being a side hustle for me right now, any profits are good profits.
I may try to stick to /CL as a future to trade because I like the bid and ask spread the it offers. The spread on /NG can get really large at times, which makes it difficult to get a position filled.
I believe that this will provide me with a way to be more confident with entering positions, but nothing is set in stone.
I will tend to trade as I see opportunities arise.
I found day trading to be a way to consistently make over $100+ dollars a day. Albeit, I day trade with about $20,000 – $25,000, however, you can build up to this if you are patient and consistent with what you are learning.
Even if you don’t want to be a day trader, I would recommend you read this book in order to find a way to get financial freedom through other side hustle forms.
Thanks for reading!
p.s. if you like this article, then check out this one as well: