Just a quick update on my progress. I do these mostly for myself. I am constantly analyzing my spreadsheets and stats, trying to see if I'm progressing, standing still or heading in the wrong direction. And it's been fun looking back on my posts now and seeing my progress. This was another good week, I profited over $4,700+ and made one big mistake where I got greedy and could have locked in $5,500 on $NHLD but I wanted more, thinking there would be a press release overnight and it never happened. I should have taken the $5k+ as that would have been a 50% gain and my biggest win ever by at least two times.
I really have to listen to EVERYTHING Tim says to do, like taking profits at 10% - 20% or sometimes 30% - 50% but never going for 100% - 200%. I've been in this bad place lately where I see all these stocks running multi hundreds of percents and I either hesitated getting in or I got out too quickly and missed out on 100%+ gains and it's made me hungry for a home run. I want to get a 100% or 200% win on $10k - $20k and that is straight up just being stupid. Taking singles is what has gotten me to this point and taking singles is what will take me to a million and beyond.
Here is my current profit graph:
I've now profited over $25,000 since my turnaround in the last 8 weeks:
Maybe even more impressive is I've made almost $20,000 in just the last 30 days:
A few more interesting stats I noticed this week is the power of exponential growth available in this little niche of the market that we trade. At my low point my account was just under $8,000. In the first four weeks of my turnaround I profited $7,998. That was a 100% gain on my account in one months time:
At that point my account was now around $16,000. In the next four weeks I profited $17,037. Another 100%+ gain in one months time.
Can this continue? Will I make $32,000 over the next four weeks? Probably not, and I'm certainly not going to set some goal to try and attain that. But my previous 8 weeks experience does tell me that, at the very least, it is possible. When I was losing for so long, I thought it would be great to be able to just profit $500 per month. That would be a decent amount of money that could have a small but noticeable impact on my finances. Now over the last 5 weeks I've been averaging about $4,400 per WEEK.
I let my big loss on $CBDS, due to bad news, scare me out of continuing to size up as my account grows. This week I will focus on that again. Looking for perfect setups and going full size on them. Taking fewer, but higher odds plays. And keep hitting singles. Always remember it's a marathon, not a sprint. No one trade will make me rich...