Some recap of my month or so of learning. Well, it's frustrating mostly. Many mistakes of every kind - large positions, chasing and forcing trades, not seeing paterns, a few of not cutting losses quick as well (I'm not bad at it though - never had a problem when I need to admit I was wrong. Few 3-5 hundred losses is due to huge positions on a fast moves).
But! I knew it was coming before I have started. I knew I'll need an account allowing me to learn a bit. Thanks to Tim - he'd advised me it - to get PS-Silver and a bigger account instead of Tim's challenge and a small account. Even though I have some sad days accepting my poor results, I still see a room for learning and improving.
First of all - my current goal is to survive while learning and not to blow my account up. Thare is two ways - scared trading and right position sizes. I'm perfectly fine on a first one - I'm scared as much as I can be. But the second one is kind of tricky. I couldn't get a big position, because I'll get a nice loss on a spread alone, and I couldn't get a very small position due to 10-20$ comission (depending on execution), which I need to overcome. That leads to a very picky trading and very cautious calculation of potential profit.
Another, much more trickier issue is a proper setups. On a Tim's videos it all looks easy - it have spiked, it will drop, it will bounce - everyone is happy and profiting on a way up and down. Reality isnt that simple. Most of the time I see a double bottom when the price have gone too far, and I'm not sure if it would be chasing already or not. Same with breakouts and other signals. I can find support and resistance everywhere and it will mess my risk/reward calculation. Plus I'm messing my entries and exits on fast moves, and I do not lock my profit due to greed A LOT, ending with loss instead.
BUT! All of this doesnt look like inevitable and unmanagable risks. I have to find my solution to it yet (my trades prove it), but I'm working on it separetely and combined. Tim's daily lessons helps a lot, as well as chatroom (not for "buy this, buy that" picks, but for ideas).
p.s. One thing I constantly disagree on with Tim is his motto - "we all can win, we all here against market, I dont want anyone to lose" )) Well, may be it's true for all his students, or even all of the chatroom, or may be even some wider society. But when you profiting buying something, there must be someone loosing at selling it to you. I'm gifting someone with my 1,5k$ at the moment, being a 95% of traders that loose )) And I have a plan to leave this generous but sad majority at some point ))
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