Yesterday I sat down and uploaded my trades from 2018 and 2019. I did well in 2019 mostly on sub penny stocks. One thing that I have noticed this year versus last year is that my winning percentage was lower last year. Adding in those two years brought my average down from over 70% to 64.5%. I have opened up another account with Etrade. So now I am using TDA and Etrade.
Opening up the second account has put me under PDT minimum. Which I traded below that mark for all of 2019 and 2018. I have been locked from my account before due to the PDT rule and I am currently unable to make any round trips on Etrade until mid-May. This has made me have to rethink my strategy.
I am currently not buying anything that I am afraid to hold overnight in that account. I do have round trips available in my TDA account, but I am watching them close and trying to be conservative in there use.
Two strategies that I am using this year that I didn't use last year is the ability to short stocks and the use of options for higher priced stocks. I trade smaller amounts per trade this year and take smaller profits. Hopefully smaller losses too.
I have better scanners and social media this year. Although I still haven't delved into the world of Twitter. I mostly scan for big movers during premarket and after hours trading as well as %gainers and losers to find trades. If I can't find the meat of the move either long or short, I stay out.
Self-reflection is the most crucial component of one's life, in my opinion. However, after reading these essays - https://graduateway.com/essay-examples/self-reflection/ , I was surprised to see how many individuals are like myself. I used to believe that I was unique.
Join now or log in to leave a comment