About Trading 123

How It Began

Trading123 has been on the internet since 2004. I became involved in investing in mutual funds in the ’80s and ’90s. Then, I began trading stocks in 2000, during the dot-com craze. Like many traders, I read some books and started trading. However, I encountered the typical struggles that new traders face. Realizing the need for professional guidance, I sought out a local trading firm to learn from. There, I had the opportunity to meet numerous traders who, like myself, were grappling with the challenges of trading.

I had the privilege of trading alongside seasoned professionals with years of experience. Through observing their trading strategies and attending monthly seminars, I gained valuable insights into the world of trading. One particular experience that left a significant impression on me was watching a young trader, approximately twenty-five years old, consistently earn three to five thousand dollars a day during the dot-com craze. Inspired by his success, I sought to learn from him directly.

Under his mentorship, I observed his daily trading routines and learned firsthand about his approach. With each session, he patiently explained his actions, helping me to understand the intricacies of the market. Drawing from this experience, I began to develop my own trading methods and style. Utilizing techniques such as technical analysis, chart patterns, support and resistance levels, breakouts, and breakdowns, I honed my skills.

In January 2004, I made the decision to launch my own website. Initially, the website offered a daily alert stock picker newsletter as well as mentoring and education for traders. My aim was to assist other traders in navigating the complexities of the market. As part of this endeavor, I provided training focused on basic fundamentals, emphasizing simplicity and avoiding overwhelming traders with excessive information. The goal was to empower the average trader to find success in trading by focusing on chart analysis, timing, and understanding basic chart patterns.

From April 2005 to 2016, the website hosted a chat room where members could engage in real-time trading of stocks and futures. Additionally, we organized seminars several times a year, drawing attendees from various states such as Texas, California, and New York. These live trade seminars proved to be both educational and enjoyable, fostering connections with fellow traders whom I had the pleasure of assisting.

After a decade of managing the website, I felt the urge to pursue new challenges. This led me to delve into programming indicators and automated trading strategies.

Throughout my trading journey, I have navigated through various market conditions, including the Flash Crash, the Dot-com boom, the subsequent crash, and more recent events such as the housing bubble and banking crisis. These experiences have equipped me with a comprehensive understanding of market dynamics, enabling me to adapt and thrive in any market environment

Before Trading

Before I got into trading, I was a licensed Private Detective by the Michigan State Police for 30 years. I loved the job, I got involved in all aspects of investigations from Fraud, Missing Persons, undercover work, criminal cases, I was a surveillance specialist. It was an exciting and rewarding job but everything gets old once you have done it so long. So I started to get more involved in trading, learning as much as I could.

I have been involved in computer programming since 1990, teaching myself the craft along the way. My journey into web programming began in 2002, and by 2004, I was developing our own trading indicators. This pivotal moment prompted me to launch my website. These indicators, custom-designed by myself and our team of programmers, were instrumental in identifying trade setups, thus streamlining and standardizing our trading practices.

As the indicators proved effective, traders began expressing interest in automating their trading processes for a hands-free experience. The development of the autotrader was a significant undertaking, requiring two years of programming, testing, and countless weekends spent hunched over the computer writing code. After its release in 2014, the autotrader underwent regular updates, typically twice a year, to enhance its algorithm and overall performance.

In trading, the journey from making $100 to $500 requires mastering fundamental skills. It’s a discipline that demands skill, education, dedication, and an unwavering commitment to continuous learning. The more you understand the intricacies of technical analysis and market dynamics, the greater your potential as a trader.

For a day trader, it’s essential to understand that trading doesn’t come with any guarantees. Each day, the market landscape shifts, offering fresh challenges and potential opportunities. Being adaptable and open to learning from both wins and losses are key qualities for successfully navigating the ever-changing and unpredictable world of financial markets.

Patrick

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