Accountability post 01/04/2021-01-17-2021
I watched all of the live webinars and video lessons emailed to me over the past 2 weeks. I also watched the videos sent by my mentor, and I watched and participated in the webinar he held last week.
I have been in communication with my mentor, and I have been sending him watchlists almost every night. I only missed one day over the last two weeks. I have found a pattern that I am comfortable trading, and I can easily spot it setting up. I started to trade a couple of tickers off my watchlists to gain experience trading the strategy, but I haven't had much luck yet. I am going through a losing streak, but since I am cutting losses quickly and betting small, I am only suffering from a small bleed. I will continue to trade ultra conservatively until I can break the losing streak and gain consistency on winning trades.
I am still listening to "The New Market Wizards" audiobook by Jack Schwager. I am almost finished with it, and I have learned a lot about trader psychology from this book. The psychology of trading has been a big hurdle for me, and this book has been a big help.
I am still reading "Reminiscences of a Stock Operator" by Edwin Lefevre. I am not very far into the book. It has been hard for me to read lately, because I have been distracted by events in my life. There are still a lot of uncertainties about my future, and the bad news just keeps rolling on in during the new year. I am hoping for more stability in my life so I can relax. I am suspicious that this might be part of the cause of my losing streak too.
I watched a marketing webinar for Stefanie Kammerman's trading service. Her strategy is using dark pool data as an indicator. I have been playing around with Schwab's block trade indicator in their trading platform, Street Smart Edge, looking at huge trades that go through. It is interesting. I received her book and DVD the other day, and I am looking forward to reading/watching them. I don't plan on buying into her service right now. I am focusing on the Millionaire Challenge, and mastering that strategy first.
I have been concentrating on being professional, and I have been a stickler for my trading schedule. I treat this pursuit like I am working, and I am up and prepared for the market every morning. I watch the markets all day with breaks during midday trading. I do my watchlist before bed, and I reassess it in the morning p/m, formulating a plan or two. I am very comfortable with this schedule, and I already feel like I am doing this for a living, but the only difference is that I am not making money. Not yet anyway!