Been awhile since I posted on my blog, so let the catch up begin.

May was not a good month not that financially I have had a good month trading at all but I measure success in terms of moving forward with my learning and skills in trading. This did not happen in May I felt completely out of tune with what the market was doing I couldn't place a trade that even remotely seemed like a good one. I felt I was out of my depth big time and it was time to maybe throw in the towel and call it a day..... A good attempt I said to myself but you failed and its not to be.

This thought did not stay with me long.......This is a fully teachable skill I told myself and I have just as much ability to learn new things as any other person successfully trading... So i needed Teachers..

Investors Underground is were my teachers lie in wait to help me though this learning curve i seemed to stall out on. 

As you can see from my Trading Stats i had a 11 trade losing streak and ended up having to refund my account to a reasonable level I could at least practice with.

After watching the new chat room and the countless alerts to which I followed a few that did not work out I reached out to Nate.

In Nate's response he did give me the best piece of advise I have so far received whilst trading. He told me to stop placing my stops in places where the stock is likely to go and that its healthy for it to go there. This may again seem obvious to some but I assure it wasn't to me at the time. What this did for me was multi layered.

1st- Helped me place stops in better places reducing the likely hood in me getting stopped out only to watch the trade turn round and go without me.

2nd- Helped me gain better entries because if my previous stop was a place it was healthy to go to I should use that area as my entry and wait for it to go as it likely was going to.

3rd- Even if the stock didn't do what I thought it made it possible for me to at least cover some of the costs in a wrong trade by taking a small profit and moving on.

This piece of advice has really made me view my trading differently and should I have joined Investors Underground earlier I really believe I would not have had that 11 trade losing streak.

So looking forward the plan is as follows.

Use IU wealth of experience and try to learn as much as possible I have a full year subscription so I am committed to getting this learning going again.

Concentrate on my entries and stop placement now I know what it is I should be doing.

Making sure I stick to my trade plan.

Try to achieve more than a 50% win ratio over the next two weeks.

Don't Break Rules

Don't trade to large my account cant handle it until I am consistently right.

 

That's all for now.

 

Trade safe, live to fight another day at all costs.

 

Alura.