Hope everyone is having a great holiday weekend.
Just wanted to make a post to commemorate finally making it back into the green!
This week marked the moment I took my account from -12000 to +3800. It was a struggle combating all of the common mistakes most new traders have. But if you follow the rules and believe in yourself, you too can become consistently profitable. To read all of my biggest takeaways see my previous post. I just wanted to add something that I have been testing recently.
E-trade users - E-trade will let you box a position. As in going long and short on the same security.
Personally I recently have been testing my own method of buying runs early and then instead of selling high, start a boxed short position to protect the profits i already made but allow myself to keep the shares i have at such an early price. So if a stock keeps running i can unbox the short for profit/small loss and take advantage of any further parabolic legs up that may happen. Or on the other-side, when I see clear topping action, unbox my long and ride the short all the way down to reality. With these Crypto/Blockchain plays getting out of hand, I see it as a big opportunity to maximizing profits with them and mitigating risk even further.
If anyone has been doing this and seen success or not please let me know. Thanks everyone and have a great week.