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JKelly
1
JKelly May 11, 11:17 PM

I think the one thing you are missing here is these are all very different patterns. You should take a step back and look at the setups and focus on one or two setups. What are the patterns you play and have you developed a trade plan for those setups? I recently went on a big trading spree of random patterns and took very random trades and didn't not get great results. Since I refocused, I only focus on specific patterns and only trade them when they match my trade plan perfectly.

waddell
waddell May 12, 12:33 AM

@JKelly has a good point as well. I have found it easier to focus on 2 patterns (premarket breakouts and overnight holds) for better returns. Dux mentions that these are his most successful patterns. I find buying something ending near the HOD in the last power hour to be a good overnight hold as long as there is no overhead resistance.

kobayashimaru
1
kobayashimaru May 12, 1:41 AM

It is very frustrating to miss a good setup by just a penny or two, I would rather missing by a mile or not be right at all. But I take pride in the fact that my setup was correct and I was at least in the playing field.

Mrs_Wizefool
1
Mrs_Wizefool May 12, 11:38 AM

@waddell I actually am still in the process of determining a pattern or two that work best for me. So, I'm still trying out patterns and collecting data on my abilities. Believe me, that's something I want to do.

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Mrs_Wizefool

Ugh, I missed my entry point on DCIX twice! I swear, I am paying attention to the good stuff...

Fox_Trader
Fox_Trader May 16, 12:50 AM

DCIX can move fast it scares me.

Mrs_Wizefool
Mrs_Wizefool May 19, 12:45 PM

@Fox_Trader It is pretty quick. But, the volatile stocks are the best to play, so I hope to hone that skill for sure.

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Mrs_Wizefool

Yesterday was a very terrible trading day because my Grandmother passed away suddenly. I just know I have to keep moving forward, but that was a tough day. But, I'll Never Give Up.

Fox_Trader
Fox_Trader May 16, 12:51 AM

Sorry to hear of your loss deepest condolences to you and your family .

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Mrs_Wizefool

Trying something different. I'm paper trading so I'm not going to limit myself by price of stock. I want to get practice looking for the perfect play and that may come in a higher priced stock just as often as a lower one. So, I will be starting that today.

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Mrs_Wizefool
Mrs_Wizefool Mar 15, 8:21 PM

@combatbob Thank you. :) For what it's worth, I'm certainly not scoffing at profitly as a free resource by any means. I am simply recognizing my own specific needs and doing my best to collect what is needed to fill them.

combatbob
1
combatbob Mar 15, 10:25 PM

I learn as well, recognize your writing describe a similar situation, as mine.

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Mrs_Wizefool
Mrs_Wizefool Mar 13, 6:20 AM

@EARL No, I'm not, actually. I think after some research, I have decided not to become one. I am going to give it my all with what there is available and then if that just hits a dead end I might do it. Are you?

Mrs_Wizefool
Mrs_Wizefool Mar 13, 6:22 AM

@asfricksrs I'm glad to hear you are progressing as well. :) I'm glad you could appreciate my little rant. Will do!

Mrs_Wizefool
Mrs_Wizefool Mar 13, 6:24 AM

@Noble1222 Thank you, kindly. I appreciate the perspective. If I may, what specific lessons have you learned in all the mistakes? Seems there could be some nuggets of wisdom there.

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Mrs_Wizefool

Happy 6 month anniversary to me! Today marks 6 months from the date I started my journey. What I'm doing rather than trading right now: I finished up collecting longterm and intraday charts with my trades marked in arrows (one color for in, one color for out) on them. (all 300+) I fixed all my time errors from early in my recording days here on profitly. The times are now accurate on each of my trades (at first I had a hard time with converting military time and from eastern to mountain time. I also went over my excel sheet tracking my trades and fixed any errors. I am now going to start on organizing my 6 months of paper trading data to determine a few things. I got a laptop that I will be setting up for optimal trading capabilities. I will use my desktop for a bigger picture when I am able to. I'll report back once I've crunched my numbers.

Received 1 Karma
SKYisDLimit
2
SKYisDLimit Mar 05, 12:41 PM

Good to see your doing some detailing. sometimes we have to slow down just to get the basics down best of luck in your trades.

Mrs_Wizefool
1
Mrs_Wizefool Mar 05, 12:43 PM

@SKYisDLimit You definitely need to collect data before you can even figure out the details. I think that 6 months will show me a lot.

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Noble1222
1
Noble1222 Feb 25, 2:37 PM

i'm at 6 months too. also not anywhere i thought i would be. the one thing i need to do but really am hesitating is printing my trades from my broker and owning up to the losses. and also trying to identify the few trades that i did perform well and figure out if they were luck or is that my strong area. good luck to you.

Mrs_Wizefool
Mrs_Wizefool Feb 26, 10:54 PM

@Noble1222 Data is key to determining if you've found your edge in all your flounderings at the beginning. I wish you luck with your deeper delvings and your continued journey.

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Mrs_Wizefool

Beginning to focus my energy and efforts to buying only multimonth/year breakouts with catalysts like earnings and such. Not the greatest execution just yet. But, I realized I can only try to add one thing at a time in this process. Practice makes perfect. Getting closer...

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