Whats gappin' traders!

 

What a tough few months for me where I had to grind and grind and see little growth in my small Tradezero account because it fell under $500, meaning it becomes a cash account and can only trade with the few hundred bucks I had in it. 

It has been a blessing in disguise however because it forced me to become more disciplined. I still have to be ever mindful of my risk management & I am not going to size up too much yet. The only time I will size up and take a 3k or 4k position is if I have real conviction , for example on my AMC long from $5.10 after hours on 26/1 and which I closed out in the $18s average the next day.

I had been primarily short biased until my October screw up and since then I had no choice but improve my long game. Its been a blessing in disguise. Yesterday I was able to long the break of $6 on CATB and then short the backside of the move for a few hundred bucks in total.

I think its very helpful to be able to go long and short and be at a good level of competence in both. I may never have built confidence going long had I not been forced to.

Also, this is a crazy hot market with huge opportunities, so I'm not going to get carried away. Trading is very stressful activity, and I'm just hoping to continue slow and steady for the next month which will be my 12th month trading with real funds. I am 2 years into my journey in total. I've been studying very hard and things starting to pay off, especially last week providing some good opportunities but it's early days. I am also looking for ways to spend less time at my desk and find ways to de-stress!  I didn't choose this lifestyle to feel stressed out all the time and overworked, but I know in the early days to make the most progress you just have to slog it out and I trust it becomes easier over time.

Best of luck and always remember Rule #1

Cormac