This is my 2nd blog post and would like to talk about my progress from my last blog post up to the date. It definitely gets easier over time. I'm happy to say that February was my best trading month ever since I started in July 2018. That is mainly because I have learned to trade more carefully, cut losses quicker, enter trades with a plan and also started to make daily watchlists which definitely helps. I have closed February with only -$35 in loss,which is not bad no? I mean, in my view trading should be about keeping losses small and if your gains are bigger than your losses then I should begin to find some profitability. Also the market seems to be more bulish now and that favors me on the long side.
I don't seem to mind losses as much as I did before, I finally understand that there can be no gains without losses and I don't see them as an enemy anymore but rather as an ally.
I think I have finally discovered my 3 best paterns, which are:
- 1st green days
- morning panic dip buys
The hardest thing now is to develop the discipline to stay patient and only play these patterns and ignore everything else. I believe that if I work on my discipline to only trade these 3 patterns I can finally find consistency in my trading.
The challenge programme has been great so far and I really enjoy the webinars and videos which are of a tremendous help to my progress.
Also the chatroom and all in the chatroom are of great help as well.
I definitely think I can go through this, I can find profitability at some point. I just have to stick with it, keep working, keep improving...after all, I am a far better trader today than I was 8 months ago, so why would I want to quit? Quiting is not an option for me. I think I will write another blog post at the begining of June to track my progress and thoughts.
Right, back to study now...