@JA_Trades: I am up on my $1,500 Suretrader Account about $700 from March 1st. With a few missed plays and lack of Patience as I outlined in my blog post a couple days ago, this is a solid start to the journey. Im not new to trading, but have never fully focused on day trading, until about March 1st. Sense then have had moderate success.
The single best trading tool I have ever used, read, or watched is Tim Grittani's DVD. I am already a short biased trader especially with lower priced stocks but after watching his DVD an analyzing his plays, how he thinks and reacts to different situation I was able to mold my own short selling strategy in what has been profitable but small gains over the last week or so of trading.
Today I was break even, did not see much I liked. I did play $OCRX and like I said I'm short biased and just a better overall short seller so I did not hold $OCRX through the breakout and took my position off for a minimal gain. Took a second position on the same ticker and took a minimal loss as I am just not comfortable holding stocks up so much on the day.
Yesterday was a solid day, which I outlined on my youtube channel. I traded PRKR very nicely but missed my initial entry and left a few hundred $ on the table. Ended up about $200 on that ticker yesterday. I have an in depth excel spreadsheet that I have been compiling over the last couple of months supporting my strategy. Which is shorting overextended stock that have gapped up in the morning. Sometimes they don't even have to be over extended, the mere fact is that these stocks that are gapping up a big % of the time are fading through out the day. I don't want to get to in detail about the way I trade because I could go on and on. Im going to keep putting videos up on my youtube recapping my trades. As well as describing my spread sheet and how I compartmentalize the stats.
I am big component of only trading set ups that are backed by statistics, just as I have grown to learn from TriFroce. Without stats to support and entry, its hard for me to take it. Also it allows me to have more conviction to let me play run as I have numbers backing up my thesis.
This is all just how I think and trade, Like I said I just really started focusing on day trading recently so I am by no means an expert as I honestly don't think anyone in this industry is. I just feel that the bast way to accomplish greatness when it comes to the stock market is through the use of some form of statistics.
As I hopefully continue to grow my account and add more buying power, my ability to size up will be there allowing for bigger potential profits, but also larger potential risk. As of now I have only been taking position sizes within the 500-1500 share amount. Nothing too big that can derail my account, but patience is key because profits will be sized down as well due to the positioning size.
Joseph, thank you for sharing.
Congrats to your success. What is your channel actually and are you part of the millionaire challange? Or do you do all by yourself?
Absolutely great post!! I can't wait to see you in the millions boss! Keep up the good work!
can you share your vidoe link?
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