What an abusive day of trading :( I have to stop this mindset cause it is taking me to nowhere, should be in a trade for a longer time and actually let the money work for me, unfortunately I am doing the opposite, just trading more and more. From today on, I will only focus in one or two trades a day, and stay longer in them until they change trend cause I get faked out ALL the time.
@VanBonzel Vamos amigo!!!!
Believe or not, at this point I am going throughout a big fight trying to save my account, trading with 270$ and without BP is a challenge, and sometimes my broker is hiding me commissions here and there, so, it sucks, but I will eventually get up from this huge crash on my account and recover and go green again. So far I have been studying, trying to have better entries, preparing for a 5* trade, instead of taking 10 trades a day as I was doing before. This gives me a better understanding of the overall market, gives me an idea and a full control of what time am I trading, what patterns am I focusing on, so I am not picking every crap that is going up. A few things I have learned during these days is: - Go with the trend. - Don't add to a loser. - If you were red, get out once it get back green even if is break even. - Don't wait for more than 10%, especially in this market. - Be happy with whatever the market is giving you everyday. - Don't comment on anybody's trades while it is happening. - Don't follow anyone's picks. - By doing a full scan of the market (Not only the % gainers), you can see what the overall market is doing everyday. - Even if the market is falling, there is always a good play, you just have to be prepared. - ...
I bet I am the biggest overtrader in the freaking universe, 31 trades in a day :( That's just disappointing, be careful where your mind can take you. I have promised to my team mates that I will be reducing my trade size from now on. Please blame me for all of my trades today, will be posting them tonight. Lesson learned.
Shorted $MOSY but realized shorts were getting squeezed so I went long. Was absolutely right for going long bug I got faked out. 2 losses. Need to study more.