JakeWatson

9/16/2021 RECAP: After some of my best trading on 9/14 and trying my first short position, I was feeling very confident coming into today. I quickly spotted $JZZI as a potential runner with news and former spikeability and bought around the market open. Buying and selling twice on the run up from 0.01 to 0.025. A nice little set of trades until JZZI started to cool off and I thought about short selling it. Before really analyzing the position I tried a short sell and it went against me so I covered, eating into my gains. Then I bought a long position and it went down so I cut losses, again eating into my gains. Then for the last few weeks I've been noticing how much the IB commissions have been eating into my actual profits and between these three things, I was pretty much back to even on the day, which really frustrated me. So, I started looking aggressively for another position, KNOWING that it was coming up on 10:30am/11:00am when everything starts to cool-off, and I found GSFI running with former spikeability. So I bought at 0.063, and almost IMMEDIATELY it stated to TANK. It tanked SOOOO FAST. I missed the bounce at 0.05 up to 0.057 because it happened literally within 1 minute of itself and then I held as it quickly dropped into the mid 0.04s... mindset was off, I should have NEVER entered this trade the way I did, with the mentality I had, at the time I did, and I suffered a damn big loss because of it. THIS IS MY WORST TRADING DAY EVER SO FAR, and I am now putting myself in trading time out until Monday, September 27. The only thing I can do now study, learn, examine my last 190 trades, get to the bottom of how my fees are affecting my profits and consider additional brokers, regroup, and come back stronger. I am so disappointed and disgusted with myself for once again thinking that somehow the market was going to be special to me because I was getting emotional. If you're losing, it's not the market - it's YOU. This is a no-mercy game and it will teach you more about yourself than anything else. You have to love it for that, embrace, and learn to have thick skin. Until next time.

Join now or log in to leave a comment
JakeWatson

9/10/2021 RECAP: AGGI, AVVH, ETST, TSOI. After some rough days of chasing tickers, trying to get rich on every single play, and not sticking to an entry/exit plan, I realized once again that the R.U.L.E.S. exist for a reason and when you break them, you loose. Today, I followed the rules and was able to come away with almost $200 in profits. Although not my highest dollar win, ABSOLUTELY my best fundamental win yet. Since I began trading right after Memorial Day this year, it is truly an amazing feeling to see how the application of the rules, when you study and understand them, leads directly to real results. There is no shortcut, and this is not a get-rich-quick-scenario. If you're into those things this will NOT work for you. Start small, study the past, study, study, study, try try try again.

Join now or log in to leave a comment
JakeWatson

9/7/2021 RECAP I was in CLNV, MGUY, and FRTN all early, hoping that they would do exactly what they did today, but I sold on all of them because the price action was doing nothing or trending slightly downward. Missed out on close to $1000 in profits today. Could have been my biggest day ever had I just held my initial positions. Instead it turned out to be a $100 loss after fees. I'm very frustrated, especially with MGUY. It started the say around 0.09 and I picked it up at 0.20. Then price action began flat-lining, volume dropped off, and I sold it off at 0.19 for a penny loss per share. LITERALLY 1 MINUTE LATER it began running. Then it began spiking. On an OTC that is already up 100% that is breaking all-time highs, is my strategy wrong here? MGUY skyrocketed up to 0.48 by 11:10am.

Join now or log in to leave a comment
Page
of 1