BJP

I chose to not trade on August 3 & 4 due to conflicting work schedules. Rushing into trades has never worked out and I need to take a smarter approach to trading. Wednesday I looked decide I would apply an indicator to my trading to assist with my entry's and exits. Looking at what I currently use; VWAP, MVWAP, MPA(9). I decide I wanted to learn about the MACD and how it may help my trading. After coming to learn the base line is the 26 day average price and the the lines which follow the price action are the 12 day and 9 day price average. On the line is the bullish and bearish indicators helping to indicate who is in control of the price and direction. After charting several stocks I notice the MACD will indicate entry and exit points for the best optimal results. Of course all other factors must be taken into consideration. float rotation, sector, news, volatility, etc. I was able to create plans and achieve a better entry with the desired result for a majority of the time. There were time where I was able to out perform my plan. I took this live on August 6. this seemed to help curve the emotional aspect of it. encouraging me to think logically. however this is just in the beginning phases. So I will continue to document my progress and see how this does. At this point I am happy with the current results.

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BJP

I spent the weekend listening to Steadytrade and Twitch pod casts and watching Steadytrade videos. I was able to come to a better understanding that I was not the only one who made mistakes over the month. Especially with KODK some very successful trader had short falls as well. Listening to their thesis made me realize my initial thesis is on the right track, however I just need to stick with the plan, and not be afraid to miss out on the trade, as well as work on the exicution. On the Steadytrade pod cast Co-host Steven Johnson stated "look at trading is like a billboard, by the time everyone has heard about,it's probably time to sell, or short" I believe was the quote. This is a good way to think about trading. watching the momentum climb, but exiting before the volume dries up ensuring the exit is achieved. I was listening to reviews of Can't Hurt me by David Goggins. During the review there were many great points. The one in particular which stood out was "you can know success until who have known pain". Thinking back on my life experiences I like may others understand the concept of this phrase. I served in the Utah Army National Guard for 12 years during that I served on 1 deployment. I am a Deputy Sheriff and have been for going on 13 years. There have been times where I experienced pain during assignments which led to success. I was just not able to see it at the time. Looking at my Law enforcement career one example was when I accepted an assignment as a motor cop. That course while only 2 weeks is extremely intense and requires not only the physical endurance, but the mental stamina. You are required to lay the bike down and pick it back up, basically dead lift it like 100 time. This helps you understand how to pick it up in case you drop it on the road. So bringing this all together. There are times when I get off track, but when I stay focused, I have been able to succeed and know I can do this. I just have to put in extra work. Because I understand that I struggle with reading, That that it is hard. It's that I lose interest very fast, and don't care to finish. The first book and only book to date I have finished had been the american hedge fund. So August is a new month, I have a renewed sense of excitement. I am ready to learn, and trade. I want to change my life and my families life for the better, I would like to be able to give back to the community. I would like to become financially free. I am learning a lot about myself, and have a journey ahead. I am excited.

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BJP

I think it was awesome so many people made a lot of money this month. Especially some life changing amounts on a few plays. I however did not. I over traded, failed to follow my trade plans, had a lack of discipline, went into each trade with the wrong intentions. July while it has not been the worst month ever, it so far has been the worst month of my trading career. I have learned when trading, if this amount of stress comes around again I need to back away from the computer. It will be better of to miss than to trade during the period of extreme stress. I also learned that if I fail to follow my trade plan and "feel like I'm stuck in a trade", I will bag hold as an attempt to cover the loss. That trade ends up becoming a loosing trade because I have to focus now of both trades. So while I believe my discipline is the issue. It is more ensuring I follow the fundamentals. following the 9:45 rule. ensure the trade proves itself, follow the 5 min candle theory. Review the 5 favorite patters again and ensure I am only trading them. One mistake I make in July, I carried June baggage into July. Starting in August, I have not baggage to start trading.

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BJP

I have made an observation of my trading habits. A lot of my inability to not follow a trade plan revolves around stress. The more stress in my life the less I am likely to follow a trade plan. Simply because I want more success, to help bury the emotions. This has been toxic to my trading. I am cleaning up the mess from this toxic trading. However. I have noticed when I have a clear mind I have the ability to be focused towards trading achieving the results I want. small losses and bigger gains. The examples of stressful, over aggressive trades are SOLO, $EKSO, XSPA, where I have 10% or more loss. The trades where I have been focused and traded with a clear head and not allowed the trade to get out of hand are NEXCF, and VXRT. Does this mean I should not trade through Stressful times. No, because there are always going to be stressful time. I just need recognize for the future. That when I have periods like this, to either paper trade, or set the expectation for risk/reward a lot lower.

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BJP

I was catching up on Steady trade video's, while watching Huddie, dilutions came up repetitively . I understand the concept, but I had not taken the time to understand how to effective locate them looking through the sec filings. I decided to search for a youtube video on dilutions. Protect Your Trading Account, Understand Dilution! Tim Grittani was the first video. He broke the process down and got real. I searched the 6-k from one of my Friday losses I was bag holding and OMG LIGHT BULB. Everything he was talking about. Clearly and increase in the dilution over the last three years. With an increase this year. 1% better over the weekend. I know I've learned this before, but sometimes it just takes hearing it a second time even after a loss to sink in. Thanks @kroyrunner89, Here is the video if you want to see the breakdown. https://www.youtube.com/watch?v=ZwQ_9Nu4hCE

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BJP

I am writing this blog post as a way to help learn from my mistakes. Recently I have had a string of success. A drastic increase in wins over loses. However the wins have been on the heals of bags I have been holding in hopes to cover them up. This week marks the end of my time in STT Bootcamp and completion of Week 2 STT Steady Trading. STT Bootcamp was a great jump start course and helped me on the right path. I look forward to STT Pro to guide me down that path setting up the much need items for success. So far I have had an easier time find stocks which have the ability to bring a decent return. I also have come to find it is getting easier to establish a trade plan, and have it actually work out. The continued issue seems to be when the plan does not work out and I fail to stick to the established stop out point. This week in STT we had a webinar from a lady named Kim she talked about how you need to be OK with losses. They are apart of the process. The sooner you understand and except that fact the sooner you can succeed. This lesson has been echoed by Tim S, Tim B, Tim G. Today I watched a webinar with Tim S. he talked about how the big wins and small losses will add up to success. Tim also talked about how the state of the economy is very scary right now and I would not be holding anything over the weekend especially since the Dow fell 700 pts. Now I have been seeing success where when the losses are small and the gains are bigger they add up. I talking the singles and doubles not home runs. Not only do I keep track of the P/L through Profit.ly but I have by own spread sheet. Now I am glad to say I have rid my self of all excess baggage going into the weekend. Monday is a 100% fresh start. I am excited for the studying over the weekend and the easy sleep I will get. Yes I have a decent loss to report, but I also had one heck of a week, you can view my track record. Have a good weekend and stay safe out there.

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BJP

@BJP just became a fully transparent trader today!

BJP
BJP Mar 11, 11:52 AM

Second day for using STT Paper Trading feature. I forgot to record my trades from yesterday. This morning was awesome, I shorted 1000 shares of #AYTU in @2.06 out @ 2.02 PPT gained $145.00. I Bought 1000 shares of #UWT @ 1.24 out a 1.24 for a PPT gain of $57. shorted #AIM 500 shares 3.826 out @ 3.92 PPT Loss of $45. shorted #SFET 1000 @ 1.58 then covered the short with 1000 at 1.48 sold 2000 shares at @1.5 for a PPT Gain of $1450.30. All together PPT profits would be around $1607.30 if my math

BJP
BJP Mar 11, 3:59 PM

#PLTC in at .063 out at .067 paper trade gain of $90.30.

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