Though I have not traded with my own money yet, I find myself to be correct about the price action of at least 2 or three of the stocks on my watchlist everyday. The only drawback is my timing is off. I will get into a trade and then wind up cutting my losses quickly. Then, later on in the day the stock will wind up doing exactly what I thought it would do. I know this is just a minor roadblock because at least I know I am on the right track. If I can get my timing down and stick to my risk/reward setup that I have in place for all my plays, then I am confident that I can consistently profit and grow my tiny $1000 account.
Goals for my small account:
1) grow my account to $2000-2500 so I can trade on margin and start short selling.
2) grow my account to $10,000 so I can open an IB account
3) reach the $25,000 milestone to eliminate the PDT rule that currently applies to me.
4) Learn from every single trade along the way
5) maintain reasonable position sizes as they relate to the size of my account
6) Learn about myself and who I really am and how my mind works and how I can take these things I learn and apply them to trading so I can keep evolving along my journey.
Good luck on the goals man! Stay focused and you will reach them. What broker are you using now
@LeanTrades sogotrade
Join now or log in to leave a comment