Time for another update.

 

The past month i haven't been trading as much not because i am refusing to, but because i have less time to trade these days as work in my other job picks up.

I have managed to make some significant changes to how i trade, what i trade, and when i trade, implementing some simple rules to help me remain disciplined. 

Having the overall cost of my trading reduced should have helped me boost my profit margin and reduced the damage to my account when i lose. This did happen however there was also an unforeseen side effect to my new found cheaper trading- My brain told me because its cheaper i can trade more and that i did. i posted one of my worst days straight after and placed more trades in one day then i ever traded before. I needed to rethink my attitude and quickly.

When i started i thought that concentrating on one area or one style of trading meant trading Nasdaqs long... and that would be my niche. I now know that there literally is thousand ways to trade the markets and what i thought was niche was very very wrong and way too broad. I had found myself over the past 6 months trading all sorts of stuff, long/short/small cap/large cap/only trading after the first hour to name a few things, i tried a lot more approaches to my trading but haven't really traded anything i felt more in tune with or even a slightly increased level of understanding what drives the price action. Until two weeks ago.

So what am i doing now then?

I am concentrating on one area of trading .... Gap Downs at market open and the stocks over $10 Nothing else. I will focus all my energy on this play and try to master it, this will be my niche. I feel the price action makes a lot of sense, even when it goes against me i can understand why and usually find a piece of information i missed as to why i got it wrong. i will be looking to take advantage of the selling with in the first 90 minutes and be done. No more hunting for plays all day if its not on my screen before market open i am not trading it no need to behave that way. 

I will be trading very small for the foreseeable as my account has reduced by 2k over six months. i dont think that is too bad actually. I have spoken to many traders and only losing 2K in 6 months is pretty good going.

Cheaper Trading.

Trading Less.

Found My Niche.

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More Hard Work.

More Ups & Downs.

Still Dont Recommend This To Anyone.

If anyone has any questions just reach out and i will try my best to answer them.

To financial freedom that awaits down this path.