Finding Trading Consistency: Update On Henrik

A lot of trading educators just focus on their one or two most successful students. You always hear about the millionaire students, the lambos, and the 5 star hotels in marketing of most trading services. Most millionaire students you hear about from other trading services (assuming they are real) are the outliers, not the norm.

They do not reflect the typical experience of the aspiring trader who turns to the internet for their stock trading education. For every 10,000 people you see go through these services, very few make it to the millionaire level.

But rarely do services talk about the average student, who doesn’t have much capital, didn’t come from a wealthy background, had nothing handed to them, and did not see overnight success. Not to say that people that have had success have any of these things. Everyone comes from their own unique situation. At BOWS we like to focus on the average student, because they have a much more relatable experience to the typical aspiring trader. We like to focus on successful, consistent students, who are quietly building their account, making $100-$500 a day.

A year ago we did a post about Henrik from Finland, one of our most promising bootcamp and mentorship students (check out the post here). We wanted to see where he is today, and how his trading has evolved over the last year. Here is a recent interview we did with Henrik, updating us on his progress:

Interview with Henrik 9/23

  1. What have been your biggest ups and down since taking the bootcamp?

Taking big losses after a good week and losing all my gains on Friday. The feeling that I finally got this and then the market slaps me in my face and I take a big loss. I remember quitting so many times. Biggest ups since taking the bootcamp was when I made 1500$ in one week, it was very good feeling.

  1. How has your progress been the past year?

I used to go big in a position and then risk too much on my first trade and if i lost big it is hard to come back and make the rest of the day green. Now I take smaller size at first and focus on just 1-2 favorite stocks and watch them very carefully and if I lose, it won’t affect me that much and I can still come back with a green day.

  1. What has been the biggest factors in finding consistency in your trading?

The biggest factor has been trading less. I used to trade 5-7 tickers for a day and that is way too much. Now my focus is on 1-3 tickers/day. It was hard to at first keep this phase a year ago, I just wanted to make more money but then I gave all gains back and even would go red for the day. That is even more frustrating when you had good day and you messed it up. Now these last couple of months I have able to keep it lower risk. Become more consistent in my trading and the whole mindset in general towards the money. Now I have a bigger reason and vision where I want to go and what I want to do. I am not attached to the outcome anymore, I give my best everyday.

  1. What do you focus on for your strategy?

My focus is on Earnings plays and Momentum stocks. I trade flags, bear flags, Red to green moves, and Opening Range Breakouts/Breakdowns, I keep it very simple. I also trade what works in different market conditions and I might change my strategy on a weekly basis. I keep a journal and track the process.

  1. How has the education from Bulls on Wall Street affected your trading?

The whole Team is very helpful and I am grateful for all the support when I had the bad times. I e-mailed, called Kunal or any of the Team members and they are glad to help and guide me.

  1. What advice would you give anyone just starting out?

Start with the simulator at first and experiment who are you as a person and find the setups you like. Start trading small, just a few hundred shares at a time and don’t over trade as I have done. You only need one good trade to make your day good that is the truth. Keep the end goal all the time in your mind, why you want to trade, what you want to create and share. I think its good to have a bigger reason in your mind than just money.

  1. Any last thoughts?

I have to say that you have to develop the right mindset and it comes with doing the right things every single day, meaning building the right habits, routines etc. It’s all about the process. Nothing big happens overnight, it takes time and dedication, you have to enjoy the ride for it’s bad times and good times. Face your fears every day it helps you pull the trigger.

Focus On Your Own Journey

Social media is great at making you feel like you haven’t done much with your life. Everyone’s a winner on Twitter, Instagram, ect. When it comes to trading, most of the people on Twitter showing big PNL’s are usually paper trading (not trading real money, there are a few exceptions). Regardless of whether they are real or not, you should only focus on your journey anyway, and figure what YOU need to do to find trading success.

99.9% of aspiring traders will not find overnight success. Many of the most successful traders you hear about today took months and years to get where they are today. It took me 5 hard years to really get this game down. But you could be trading for the rest of your life. So what is taking a couple years to grind and learn how to develop a skill that will give you freedom and wealth for the rest of your life? It’s part of your story.

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