Today, I'm trying my 1st weekend hold. Back to GTE 100 @ $1.370, FTK 100 @ $1.235, and PIXY 500 @ $0.8250. I've been using We Bull. I don't like Robinhood at all. Tried to get into Trade Station and Fidelity but their systems weren't letting me in. I got an E-Trade account and am waiting for my funds to be verified.
*Month Recap: Another milestone in the books! I’m officially over PDT! The month started out pretty well then took a sharp decline due to unforeseen circumstances (Wifi down), which, from what it sounded like, came at a good time as the market screamed to the downside from worries on the new Covid variant. Momentum, volatility, and volume have all been super low or even non existent it seems in OTCs. Another big thing to note for my future trading would be that I’ll be switching brokers from Schwab to Fidelity as Schwab will now charge $6.95 per OTC transaction. In light of this I will also be switching from a cash account to a margin account, due to PDT now realized. Month ended pretty well despite only having 3 trading days the last week and a half. Gain loss analyzer shows I’m still trading in my sweet spot. I’ll be really missing this for future recaps and personal accountability. I’m posting my YTD chart via Schwab as I’ll be no longer using its features. Still on the sidelines for now, waiting for my transfer to Fidelity to go live, which will hopefully be a good decision. Next milestone for me is 50K. LET’S GO!!!
So quick update since my last blog post for my and others references. Since the previous post things have been going well. The switch from TD to Fidelity has been huge in my trading. Even in the slower market we have been having I'm still turning small profits. Since this post I have made $1406.61 and have been profitable for 3 straight months.
The change has allowed me to take smaller size and still have similar profits. Additionally, the ability to sell partials into strength has helped me immensly. This is also helping me with my patience on stocks. Over this time frame I am winning on 55.8% of my trades. My goal is to get to 60%. I have only had 2 losing weeks in that time frame and those losing weeks were still very controlled one week of $20 and one of $60. Both very acceptable. I will continue to practice controlling my losses.
After much thought and consideration I will finally be leaving TD Ameritrade as my Broker. Looking at my own records since April without comissions/trade costs I have profited over $2K with TD's trade costs I am actually -$1K. This is unacceptable. I find myself stressed thinking I am a terrible trader because my account keeps going down when in reality I'm okay and just need to be more disciplined.
Starting September 1st I should be full time in Fidelity and I am looking to see this change a positive result in my trading. Baby steps is all I want and consistency. In addition this gives me more flexibility to potentially scale in or out of trades without the concern of wasting 7-10 dollars per buy/sale. This should help with my fears and allow me to lock in partial winners much more often. Current strategy has always been to buy full position and sell full position at my exit. This thought process has always left me with fear of missing the bigger move or having to hit a certain profit goal every time.
Wanted to mark this day for myself so that I remember when it changed and if it really did make a difference.