Monday and Tuesday I realized my plan needed more tweaking. Trading the open until 7:30 (and some p/m), is my optimal time of day. The bulk of my winning trades came on tickers I had actually prepared for - physically writing out the specs on cap/float/volume/short%/catalyst/entry-exit points/ etc.
Yesterday, after losing almost $10 on CHK, revenge traded other tickers to try to get green on the day. That revenge trading lost me MORE money. Don't follow that lead...
Fast forward to today.
Traded the plan today and made ~$25.72 on ~$150 before the $10.65 PIXI loss.
That's 17% and $15.07 on the button. (Also my cue to GTFO the market for the day. Goals hit.)
Today was much better, but I still cut the head off my gains with the PIXI trade. [Greed was responsible for this. My greed (hope, inexperience) has been VERY subtle while I'm trading. Those soft spoken rationalizations that "it'll keep going", "it has enough volume", "it's not overextended" - even though I've done the research and drawn the sup/res lines, will also take me off my plan if I'm not careful.
**trading up smaller accounts can make even these soft-spoken reasons feel VERY intense in the moment. FOMO factors into this too - "I could have had more" "I can just hop into this plan and make a little more" are motivations I have to watch out for. Stay adaptable, but stick to the plan. The Tim Alerts and desire to get big money will still be there tomorrow. Get Gains Goal and Go!**
Now I just have to have the patience to wait until tomorrow to do it all again. 0_0 (emoji eyes)
Thanks for checking out my journey. This type of accountability and posting my thoughts surrounding my trades is extremely helpful for me too. Slow start to the week, but back on track. More to come.
We've all been there with the forcing, but we all learn!
I'm a newbie to the program here. I have to adapt to the "just get the meat of the trade" mentality vs trying to predict absolute lows and highs. This has been one of the major eye openers as I start this journey. Stay strong and let's collectively try not to re-invent the wheel.
@NHOptimist Sounds good man. Let's do it. How long have you been trading?
I have tried on and off for maybe 10 years. Some successes but the pot craze tore me up and I needed a new direction. I am spending quite a bit of time with the initial DVDs in the SuperNova series. Lots to focus on but when I get my hooks into something; I’ll be all in. Once I get my trading accounts over to Etrade, I’ll post a beginning balance and try to get my trades posted. Playing with stock screeners to give me some stocks and patterns to study
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