Downsized a bit, one because I felt some bad habbits starting to creep back, and two because it's such a scam company. Definitely woke up at 4am to for fear of an offering
Decided not to trade last Friday because of the string of losses and have decided to take all of next week off and come back strong November 1st. Trading is a lot more than just having a good strategy. The last couple weeks have been user error’s with me specifically. Although I don’t use a lot of Tim’s strategies- the mentality he has is important to listen to. PROTECT your gains. Don’t trade setups that are not As or at least Bs (since I scalp more). Do NOT get greedy. I got used to the 10k days and wanted more and more and more to the point it got uncomfortable and I was risking more / taking on setups I shouldn’t. I got careless this past week with a SPAC play and a sister stock- didn’t look at all of the news and was quick to get in. DO NOT get complacent. Always remember where you came from- when 1k a day was awesome and 3k a day etc and remember the things trading allows you to do. You can make money (a lot of money!) from your home and in just a few hours a day. It’s truly an amazing thing. I am coming back in November with a green light, yellow light, red light mindset. Everyday starts with a green light- go make your minimum profit goals safely, then yellow light goes on where there’s no need to trade the rest of the day unless the setup is an A. Then red light is after 5:00 pm no trading ever and red light when I’m busy with other things and not 100% engaged with trading. I think this is going to help me grow consistently again and safely moving forward!
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holtzy Oct 28, 21 12:00 AM
Attaboy. Thanks for the post. I am inspired by your transparency. Love it.
BBaccSoon Oct 29, 21 10:13 AM
Been really digging your trade review podcasts with reverselong, you're gonna bounce back from this.
mujeres4x4 Nov 16, 21 2:32 PM
great post thanks
ATXTrader Nov 17, 21 12:53 AM
good for you to take a step back. Some of my biggest losses were when I was trading while preoccupied by household problems that required my attention.
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BIG FINDING: As you all know I am a short seller but I get in and out and average up on my trades many times (intentionally) and cover on the first large dip/snap. That is very general but you get the gist. I ran all of my numbers on every trade I have held overnight for the past 6 months and found out I am down $144k on them. I also found that if I would have covered every one of them the next day at the low of day I would only have been down 42k on these swings and if i covered at the absolute high of day the second day (would be better of course) I would have lost 140k. This means that even though I am winning 81% of my swing trades after getting squeezed there is absolutely no reason to swing them more than a second day. You get out for the loss and move on. My 19% of losses get too big when I am getting squeezed and it mentally drains me along with taking up buying power. Overall - no holding more than a second day unless I am 99% confident on it. One other note: growing parabolic can be stressful. You continue to size up more and more for percentage of account but of recent I got uncomfortable with some of my larger position sizes. Parabolic is great and I will continue to strive for that but I am toning it down a bit and focusing on consistency - less large random losses - and continuing the green days day in day out. This comes after getting squeezed on NXTP last week and a 52k loss on HX where i was stubborn (havent posted it yet). Good luck to all! Learn from me.
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reverselong Oct 19, 21 10:47 PM
by going over the data on simple metrics you found something out that you can implement right away. nice work. The comment on the sizing up, you hit the nail right on the head. You did take it as far as you could though. Now you just gotta work your way back to size and feeling comfortable with it. You're still killing itt! NXTP is about to be demolished for good hopefully Lol
HolyDonuts Oct 19, 21 11:01 PM
Great post Reed, you are an immense help
Kingsalini Oct 20, 21 7:09 AM
Appreciate the insight my G
ATXTrader Nov 17, 21 12:56 AM
constant analysis is so helpful throughout our trading journey. Thanks for sharing your thoughts on the stress involved in parabolically growing your account. Come back stronger!
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MONTHLY RECAP: 134.2K in profits. 247 wins and 12 losses on trades. Average win was 5.19% for the month. Lots of good things - keeping it rolling. REMEMBER: if you do the exact same trades.... and have an average position size of 5% of your accounts value, win 90% of your trades, wins being 5% and losses being 5%, and trade 200 times per month... your account will grow 40% MONTHLY. It is insane. This is my goal every month and I have not been perfect but I have grown 32% per month for 7 months this year. This is how an account grows parabolic. We will see based on market conditions, my personal trading, and shares available how long I can keep this going.
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samputnam Sep 09, 21 9:01 AM
congratulations. thank you
ATXTrader Sep 12, 21 10:37 PM
this is sooo inspiring. I've been paying attention to you in chat. You're strategy certainly is paying off with exponential account growth. I will continue to pay attention and hopefully learn your strategy.
HorseGirl Oct 04, 21 5:19 PM
Awesome!
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ATXTrader Aug 30, 21 11:44 PM
Good question - I'm not finding them on my scanner. I'm actively going through my watchlist of former runners and looking at the daily chart for this pattern potentially to set up. Jackaroo did something similar and he talked about it in his challenge webby in January, I think it was (it is a great webby!) where he said he looked at ALL the OTC tickers over one weekend (after a week of crazy heavy trading, mind you) looking at the daily to chart to see these setting up. Jack is so inspiration
ATXTrader Aug 30, 21 11:47 PM
Jack is so inspirational to me. anyway, I did go through my watchlist a few weeks ago and that's how I saw RGBP setting up and look at what id did (doubled from .03 to .07). anyway, I need to go through more daily charts of tickers to find more of these that may be setting up. Also note, that I edited the post to make note that the ramp does not need extra volume or a catalyst for this pattern to work. Thanks for asking!
ATXTrader Aug 30, 21 11:52 PM
Update: RGBP failed today and I would have cut the last 25% of my position for a smaller gain. It did exactly what this pattern proves. The ticker doubled and reached the b/o level with no news and no excessive volume.
moneymaking1043 Aug 31, 21 12:41 AM
i was very close to buying RGBP or RGBPP but didn't pull the trigger and ended up missing out on 50% profits
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Travis_Rios May 10, 21 8:28 PM
You either win or you learn. You'll get back on the horse in no time, better than before.
ATXTrader May 16, 21 11:56 AM
@Travis_Rios - thank you
Points Jul 28, 21 7:24 PM
great honest post best of luck!
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ATXTrader Mar 11, 21 12:31 AM
from what you said, you "triple dipped". I don't even like to double dip (buy a stock right after i sell into profit. but that's relative to if you think it can go higher and it proves that by hitting higher. on a stock that is halting and on your third dip, your size should have been way smaller (1/4 to 1/2) normal position size especially since it is halty. that's my take.
DrNate Mar 11, 21 8:23 AM
yes, should have made each new position smaller instead of larger. thanks for your comments.
Guisseppina86 Mar 28, 21 1:28 PM
Dont beat yourself up too much! I made a lot of my 36k on nasdaq! So Im wondering if I will be as good at OTCs!
Guisseppina86 Mar 28, 21 1:28 PM
I done this too made and then bought in again - worst thing to do the higher it gets! Chasing x
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OTHER COMMENTS AND NOTES: 1. Should never take full position size like that on front side of move or even on a first green day stock. Also, the risk is based off of 10000 shares. keep in mind a position size like that means that it is an A+ set up for me with solid tight risk. on average i am taking 5000 share positions.
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cottage242 Jan 20, 21 6:21 PM
I disagree with you. When you sit and watch yourself allow a $60K loss, then you need to step back for a bit and take a smaller size. It's easy to say you know why after it happens, but consider another possibility that maybe you were in too many trades at one time? Just food for thought and I bet your 2021 is going to be record for you.
ATXTrader Jan 20, 21 6:26 PM
good explanation of how shorting can produce extra large losses. Thanks.
Faizi Jan 20, 21 8:25 PM
nice video - am still learning but on a losing train so far. but good lesson
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@trader_atx just became a fully transparent trader today!
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JFondren Jun 17, 22 8:15 AM
thx jack
aaronmizellam Jul 12, 22 7:43 PM
Thanks For Sharing Jack! Right Now I'm Doing My Best Sticking With It. Growing my Knowledge Account although my trading Profits are Yet To be Seen which at Times can be hard not to let it be Frustrating. Trusting The Process!
LETSWIN16 Nov 29, 22 12:45 AM
great story jack. you had a desire and faith. thats why you did'nt give up. that is a true uncle who supported you and gave you good advice .I am studying hard because one day im going to reach my goal.thanks again for sharing your story.
brandonkoy Mar 21, 3:16 PM
yuhhh
Thanks for your chart .Your entries and exits look good/disciplined. Looks like you bought Thursday afternoon sand then changed your mind before it failed so nice instincts on that. Great info to learn from
Yes I was running and downsized in the 1.80s when I checked my phone and saw it dipping, but when I got back home saw it was holding up so re-added some. Still improving!
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