Ouf, tough stuff. I also started a blog to document my journey and to somewhat keep myself accountable. You don't want to blog about losing big all the time right? In any case, if you want you can check mine out to help you get started. hit me up on here or on twitter if you want! @mickdostie
Yang - very well written! Market tuition is a difficult learning outcome to embrace, you did an excellent job. Thank you for the post. As you stated we all do something that causes this type of "classroom time." Good forward plan, again thank you for the post!
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Crossed $10k total profits yesterday! It's been surreal after constantly being humbled by the market during my first 9.5 months of trading. After making major adjustments to my strategy in mid-November, I'm now working on my 18th consecutive green week. I must say, it feels good to have data that shows I'm not just getting lucky at this point. I've traded far from perfectly these past 4 months though - I'm still learning important lessons every week, and I'll never stop trying to improve. Next challenge: sizing up (slowly).
Shit, sorry, there's a max char limit per comment.
Thanks for sharing all this, YangLuo.
Thanks for sharing this, YangLuo!
Hey there, yes I am, but I had a big loss near the beginning of the month so took a week off to regroup and revamp my strategy. Now taking things slow. Was planning to write a blog post so I need to get on that.
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@YangLuo I played ATRS on the FDA news. If this ticker can break the 2.50 resistance what are your thoughts on it?
I didn't think the news was that good initially, but it seems to be reacting well. Bullish momentum right now, but not sure how much farther it can go. Float is too high to really squeeze and there are bagholders overhead that will likely sell into a breakout attempt. Mainly I think there will be better stocks to play.
Can you explain “float too high to squeeze” and how you see “bagholders overhead that will likely sell”. I appreciate your response! Thanks
The lower the float, the more explosive / volatile the move can be. Most people who bought this stock earlier in the year are underwater, and psychologically will be inclined to sell into strength to minimize losses or break even.
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Hi Bob, can you explain what you mean by a 5 wave pattern? Thanks! By the way, you've been killing it ever since upping your position sizes. Keep it up!
The 5 wave pattern is the Elliot Wave Theory
CONN is working its way up
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@Turbobob Love your watchlists can you make you a video showing us how you make your watchlist and find plays? Thank you so much for your content! :)
thanks Bob,
Nice bob
Thanks Bob
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It only represents a guide to follow. You take the reported short interest and divide that by the 100 day average volume. The resulting number is the number of days it would take if only shorts were covering and they all covered. A number less than 5 probably doesn't have much effect. 5 - 10 and a good catalyst and it probably adds momentum to the trade. Over 10 and a catalyst, let the fireworks begin,,,
Good morning, Bob. CRBP just announced an offering at 7 dollars a share. Do you think that will have any downward pressure on this stock? Thanks very much!
Thanks Bob, I'm still learning and your explanations are awesome!
Nick - Generally it does.
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Great video - Can you give any advice on locating good stocks to trade to someone that right now can't afford a high monthly subscription to a service such as STT?
Finviz.com is very good. Even Yahoo finance. I also use the scanners that come with my trading platform at Sure Trader and Interactive Brokers
Thanks Bob
Thanks Bob
Thank you for sharing your experience. I will remember all of them to avoid that as Tim says ''don't get cocky'' ''go for singles'' ''cut it early'' and the hundreds of others that echo in my head. Do we ever really ''get it?'' Thanks again..
Great post man, couldn't have said it better myself. Exactly what I went through for awhile. So long as you stay in the game though you're on track. Thanks for sharing man and hope to see you in the chatroom more often.
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