Lately, I haven't been doing so well managing my own money in stocks. I've been studying every night and then noticing that I'm performing worse (maybe I'm overwhelmed but I'm not trying to make excuses). I've decided to discipline myself and only paper trade for at least a couple weeks until I start to see my strategy improve. This does take away from my goal of making 50% increase in my 3 broker accounts by the middle of August, but I think this is extremely necessary for me at this time. I'm noticing that I'm trading even more terrible with this bigger paper account, because I don't care as much when I lose money.
It's time to step back, reevaluate my strategy, and make better choices. I am still trading with close to the same amount of money per trade that I have been using in real life, so it's not so far off. But I am losing even more in that account.
Everyday, I am working towards getting through the complete Trader Checklist but it takes me roughly 3x the amount of time as the DVD length as I am constantly pausing and taking a bajillion notes along with taking screenshots of the charts so I can memorize them easier.
I hope everyone else is also able to know when it's time to step back for a bit to improve their strategy. Everyone is capable of success, it's just a matter of whether or not we allow ourselves what we want and work towards earning what we deserve.
I will get better and I will study Every. Single. Day. That's my commitment. What's yours?
Good luck trading!
-Ashley
I've been paper trading for a month or two now and I've noticed once I treat the paper money like my own money I take it seriously. I take red percentages as red percentages to my account. And so when they're green they feel so good. I've noticed my strategy has improved a lot also so paper trading is definitely the way to reevaluate your trading strategy, and with studying I've got no doubt you'll see a huge improvement in all aspects of your trading. Goodluck!!!
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