Why I Decided to Day Trade: My Investment Journey
After building multiple 7-figure businesses, you might wonder why I decided to dive into day trading. The truth is, entrepreneurship taught me to diversify income streams, but day trading? That was about mastering a completely different skill set and mindset.
Why I Decided to Start Day Trading
Running businesses gave me cash flow, but I wanted to understand markets at a deeper level. I had always been curious about the psychology of trading, the technical analysis, and frankly, the challenge of it. Plus, having multiple revenue streams has always been my safety net. Day trading seemed like the perfect way to put idle capital to work while learning something entirely new.
It wasn’t about getting rich quick (I’ve learned that lesson from business). It was about understanding how money moves in markets and adding another tool to my financial toolkit.
How I Opened My Trading Accounts
I started by researching brokers extensively. After comparing fees, platforms, and tools, I opened accounts with a few different brokers to test their platforms:
- TD Ameritrade (now Charles Schwab) for their thinkorswim platform
- E*TRADE for their user-friendly interface
- Interactive Brokers for lower fees on higher volume trades
I funded my accounts conservatively - only with money I could afford to lose completely. This wasn’t business capital or emergency funds. It was “education money” as I called it.
How I Learned to Trade
Learning to day trade was like learning a new language. Here’s how I approached it:
Education First: I spent months reading books, watching YouTube channels, and taking online courses before I placed my first real trade. “Trading in the Zone” by Mark Douglas changed how I thought about market psychology.
Paper Trading: I spent 3 months paper trading (simulated trades with fake money) to practice without risk. This taught me the mechanics without the emotional component.
Small Position Sizes: When I finally went live, I started with tiny positions - $100-200 trades max. The goal was to learn, not to make money.
Daily Journaling: I tracked every trade, noting not just profit/loss but my emotional state, reasoning, and what I learned.
Lessons I Have Learned
Lesson 1: Emotions Are Your Biggest Enemy Fear and greed will destroy your account faster than any bad trade. I learned to stick to predetermined stop losses no matter what.
Lesson 2: Consistency Over Home Runs Small, consistent profits beat trying to hit grand slams. I aim for 1-2% gains per trade rather than swinging for 10%.
Lesson 3: Risk Management Is Everything Never risk more than 1% of your account on a single trade. Period. This rule has saved me more times than I can count.
Lesson 4: The Market Doesn’t Care About Your Bills The market owes you nothing. Some days you win, some days you lose. Detachment is crucial.
Lesson 5: Time of Day Matters The first hour and last hour of market trading are when I make most of my money. The middle of the day is often choppy and unpredictable.
How It’s Going
Honestly? It’s been a journey. My first year was break-even after fees - which I considered a win since most new traders lose money. Year two, I started seeing consistent small profits.
I’m not making millions day trading, but I’m consistently profitable with a strategy that works for my lifestyle. Some months are better than others, but the key is that I’ve developed discipline and a system.
The best part? The skills I’ve learned - patience, discipline, risk management, emotional control - have made me a better business owner too.
The Reality Check
Day trading isn’t passive income. It requires focus, discipline, and constant learning. It’s not for everyone, and it’s definitely not a replacement for building real businesses. But for me, it’s been an incredible addition to my financial education and income diversification strategy.
If you’re thinking about it, start small, learn everything you can, and never trade with money you can’t afford to lose. The market will teach you humility faster than any business ever will.