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Chevon
1
Chevon Apr 15, 21 2:00 PM

Thanks for sharing this. What we aim to do is hard. I am in the exact same position as you, I tried to re-start my trading around February and have taken a fairly nasty string of losses myself. What I have been doing is looking at my past few months and trying to see everything I have done right win or lose. Hope it helps, this can be hard. Keep your head up, one day you will look back and be surprised how far you have come.

Chevon
1
Chevon Apr 15, 21 2:37 PM

Also I re-read this post, you have a line where you say "all I am good at is cutting losses". Based on your post you displayed a couple skills: 1.isolating plays that fit your strategy 2. picking the spot to buy that fits your strengths 3. Continuing to try after taking losses

FrankieJr
1
FrankieJr Apr 16, 21 11:31 AM

@Chevon Thanks for the kind comment made me smile in a pretty dark time of my trading career. I've taken sooo many losses in a row at this point that It's messing with my judgement on what's good and bad. Was too afraid to enter on $ADHC at .0146 and $KNOS at .10 this morning due to the massive string of losses. Just to afraid to take more losses. Best of luck to you and i'll be keeping a keen eye on your journey. We will both get this! Patience is key.

Chevon
Chevon Apr 29, 21 11:49 AM

What I have been doing is isolating key mistakes and working to fix one mistake at a time. For example for me when I go long I like to look for pullbacks, but I started losing money when I got away from that. So now I am taking this whole week to focus on just one skill and its worked wonders.

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Chevon

42 Lessons From 2020 1. Consistent Work = Results 2. The ability to recognize the need to adapt, look to play tickers in a way that that adapts to what the market is doing 3. Buying at your price range is what puts you in the best position to profit overall 4. Buying at your price Range is great protection against losses. 5. The need to make money and take green trades especially after losing will be a killer. If you feel the urge to try to “make your money back” that is the time to step back 6. Narrow risk, and loss cutting enables you to make multiple entries and put yourself in the best positions to profit 7. Always be prepared to use everything in your arsenal (charts, lvl 2, stats, pullbacks, reversal volume, etc, and experience) 8. Pray during trades 9. Relax 10. Price Range, Support Range, Price Range, Support Range 11. Cutting losses can also mean exiting when the price action is looking weak. 12. Let Stocks Prove Themselves if you are looking to re-enter 13. Always look at the tickers spike history, the more in line with your plan for the day the better. 14. Consider multiple outcomes and routes that a ticker may have to fit your plan 15. Not all losses are get out stay out situations 16. Some trades may reach a point where the predictability runs thin 17. Always re-evaluate Risk-to-Reward if the range on the play shifts 18. The best trades require a system of what makes them good and a sort of ranking 19. Overconfidence, Fear, and Greed sabotage and undermine good planning 20. A little bit of patience and having a criteria opens you up to major success. 21. Trading a good setup outside of your plan will close you off from the opportunities a ticker has 22. Predictability often translates into profitability 23. A good catalyst and the ability to trade can hold a lot more importance than the winning %’age of the float/cap category 24. Pre-Market volume IS volume. You can still trade if your plan is being met in pre- market, especially if the volume is starting to show. 25. Entering on Consolidation gives more flexibility for buying 26. You need to understand what your broker’s trading package allows you to do in pre-market and account for that 27. Selling into strength is good but your primary focus needs to be playing the chart for the chart. 28. When you are trading you need to be very careful with your settings, you may end up buying something you did not intend to. 29. When playing Earnings Winners you need to know when the conference call is, and account for timezone differences. 30. Sometimes you are going to miss plays, ultimately it is important to stick to your rules and your trade plan. 31. A stock may do what you want later on in the chart, it is important to remain patient and open to that, especially if a whole/half dollar is holding. 32. All Trades are interconnected especially within the same week. 33. Your ability to follow your own rules will determine long-term profitability. 34. Even if you are “stalking” a stock, you still need the trade plan in the morning. 35. You can take more than one trade on a good set-up. 36. No trade exists in isolation 37. Suboptimal entries are not the end if the thesis is good 38. You need to let your Thesis play out when the plan is solid 39. Good Trades build confidence, Bad Trades erode confidence 40. Even when you are adapting to what is available STILL plan 41. Your place in a pattern comes before placing a trade 42. Have faith in yourself Chevon

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Garry19
Garry19 May 29, 23 9:30 AM

@Jackaroo Clearly this was about 3-31/2 yrs ago. Looks to me like a little confidence of someone believing in you can make all the difference in the world. Congrats on your success Jack! I truly believe we all have it in us & it just takes hard work & 1 person believing in you & believing in yourself. Your uncle is a great man.

Pathfinder_Trader
Pathfinder_Trader Jun 30, 24 7:31 PM

@Jackaroo, I am a few years too late on reading the "blog post: Stick With It". However, it was very inspiring. What was inspiring was not the story in and of itself, but the idea that you choose to "believe" that sticking with something will reap a reward for you in the end. Having a belief is one thing, but making that dream come into fruition is another, which is extremely hard to do when you have not made it to the finish line to win the prize, and to be fair, Uncle Larry knew that for a dre

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Chevon

My Current Trading Rules Are: 1. Cut Losses Quickly 2. Plan Every Trade & Follow the Plan 3. Prioritize the Ticker that fits your Plan 4. Control Your Emotions (Confidence, Frustration, Greed & Fear ) 5. Trading is a means to an end. Not an End in itself. 6. Only buy at your price range 7. Adapt to the Markets/ React to Price Action 8.Take Good profits / Protect Gains 9. 3-to-1 Risk Reward or Better 10. Only take the most predictable setups 11. You do not need to Trade/Do Not Force Trades 12. Only get aggressive on Perfect Setups

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