Here we're with my 4th trading week, actually the worst one as I was able to collect 6 losses on 8 trades and the remaining 2 were at breakeven, not bad I would say as a learning week :)
After my biggest loss ever $520 -14% I decided to trade with smaller sizes until I get better so it's easier to follow my trading plan and I can concentrate myself on trading the market and not the profit. That's one of my main issues I just found out today reading the trading psychology book "The daily trading coach". So long story short I have to keep out my emotions when trading without introduce worries over profitability.
I decided to analyze also my 2 breakeven trades in order to remember the mistakes I made trading them as I was supposed to make profits.
Besides all my losses, last week I struggled entering in trades and I missed at least 3 opportunities that would have ended with good profits, all those stocks that I was trying to buy in dips were very volatile and the price action was kind of crazy so when I was finally able to put my order the price was already going up and I couldn't get executed, that's something I need to improve practicing with small sizes until I get better.
Since I was collecting a remarkable number of losses, in order to clean up my mind I decided to avoid trading on Friday and I took a day off and I can say that it was a good decision.
I finally went back to study old webinars, I found very useful the following one by Tim Lento about basic technical analysis http://livesttre.am/1jxTn
KISS & CVC!



Does Tim predict RXMD a pump n dump? How does he feel Monday will be for RXMD?
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