Received 2 Karmas
PocketPAT
PocketPAT Dec 21, 19 8:09 AM

@therealmcdougal saw this late. That's awesome. Once you start refining, it's becomes an endless journey. I too look at my old trade charts like "smh" lol. I'm doing great, but it's been pretty flat since April 2019 (started using real money). If I could go back to January, I would have skipped paper trading and just used super small positions (like $100). Paper trading was worth it (and super emotional, no matter what people say), but I'm glad I only did it for three months, because it's

PocketPAT
PocketPAT Dec 21, 19 8:11 AM

just different with real money. I've been fighting to secure a solid and consistent strategy ever since and I've seemed to get there this month. Just chugging right along and planning for 2020.

therealmcdougal
therealmcdougal Dec 23, 19 12:12 AM

That’s good advice man, thx for that. I think I’ll paper trade until the end of the year and then switch to real $ and take super small positions like you said. Merry Christmas and a prosperous New Year to you and your family. Keep at it, you’re doing great (cuz you haven’t blown up!)

farrelco
farrelco Apr 05, 9:21 PM

Hey guys get in touch if you wanna have trading chats! I made my first trade with real money on March 16th so I think am around same stage of journey as you guys

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therealmcdougal

Paper traded TTCM this morning. Plan: Bought 500,000 shares on the dip at support level around .014, with plans to cut losses if price went below .0135, goal was to make 10% at .0153 Outcome: Sold all shares at .0163 for total paper profit of $1,250! Great outcome however to be honest I should have been paying more attention and sold on the first spike at .01575 around noon, but had to leave the market for a few hours to take care of some other stuff. Ideally stop loss would have covered my risk but still not a good idea if trading real money, so in a sense I got a little lucky there was a second spike when I returned to trade.

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PocketPAT

F*** IT!!! Just booked my trip to Orlando!!! First class baby!!! Hype for the conference =) =) =)

therealmcdougal
1
therealmcdougal Jul 24, 19 6:52 PM

Sweet have fun! Wish I could go but literally at the hospital now with my wife waiting for our baby girl to come into this world! I’ll definitely do my best to be there next year

PocketPAT
PocketPAT Jul 25, 19 8:47 AM

@therealmcdougal ahhhh man, wish you could come too! There's definitely next year and it'll be even better then! Congrats on the baby girl man! That's what's most important.

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PocketPAT

Things are so much clearer now that I've made this past weeks changes. My biggest problem was that my "scratch/break even losses" were too big ($150, $175). That told me that I was using too much size. Bringing my full-size down to $3,000 has been allowing me to easily keep losses under $50 this past week. I've also changed StocksToTrade around to make Level 2 three times bigger and STILL fill the screen completely with the chart, by hiding the watchlist after premarket is over. This way, I can focus only on the price-action without distraction. The third huge improvement to strategy is not looking for doubles or triples, but singles. My profit goal now for trades is $400-$800. $400 for a single, $800 for a double, $1200 for a triple; but willing to take anything below $400 without holding when the trade doesn't work.

therealmcdougal
1
therealmcdougal Jul 24, 19 6:49 PM

Sounds like you’re learning to tweak your setups and adapt to changing conditions, nice explanation here that will certainly help me, keep on rockin in the free world man!

PocketPAT
PocketPAT Jul 25, 19 8:49 AM

@therealmcdougal hell yeah, the tweaking will never end lol. My constant goal is to keep losses as small as possible until the strategy is tweaked enough to start seeing consistent profits.

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PocketPAT

Feels like I should be expecting the normal week to include: 1-2 solid profits ($1k+), 1-2 scratches (small win/loss) and 1-2 days where we don't trade at all. Judging from the past two months, that seems to be the growing trend of potential; with an expected average of $1.5k-2k in profits per week. Friday was the closest I've ever been to the typical $1,000+ profit play that's on the table every day. I expect to get closer this week, maybe even having one or two in the books.

therealmcdougal
therealmcdougal Jul 15, 19 9:55 PM

@PocketPAT and taking notes, getting on webinars when I can, and learning as much as possible from Tim and other guru's trades and video lessons.

therealmcdougal
therealmcdougal Jul 15, 19 9:57 PM

@PocketPat honestly I wouldn't worry too much about not having past experience either. In some ways my (although limited) experience has helped me because I'm familiar with many things, but Tim's approach is much different than what I've done. Also I've developed some bad habits (i.e. not cutting losses quickly, buying at the wrong time, not selling quickly enough, not studying news, hype, SEC filings, being meticulous). So at least you're starting off on the right foot with good discipline and

therealmcdougal
therealmcdougal Jul 15, 19 9:57 PM

@PocketPAT good habits.... we should probably DM on here, apparently the wall posts have a character limit...

PocketPAT
1
PocketPAT Jul 16, 19 3:57 AM

@therealmcdougal awesome man, my shorting strategy is similar. I'm looking to build my account going long first, while studying the shorting strategy for when it's a bit safer in the future. lol They aren't lying about that "Read SEC Filings" DVD by Michael Goode. It WILL put you to sleep. That's the only DVD I didn't make it through and a couple of others that I didn't have access to. I'll respond to your DM.

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