Good Day Everyone,

   As a Novice Penny Stock Trader this is my first blog post.  I was going to originally focus on the trade of AMMA.  However, I believe CLSN is more relevant due to it being fresh for the week and the devastating effect it has had on my trading psychology.

The Title of this BLOG: Make GOOD Habits by Following Your [Own] Rules is self explanatory.  We have been taught by Tim Sykes that the #1 Rule is Cut Losses Quickly.  I would agree.  It is just that until something horrible happens for the most part that is when I learn why I must follow my rules.  You know the old saying, "A hard head makes a soft behind."  And of lately the markets have been whooping my behind. 

I admit that I am freestyle writing this blog.  I will just touch on a few of My Rules that I have broken that of course led to me breaking more rules and thus loosing on trades.

Rules: 1)Do Not talk on the phone while trading..[As a newbie it is too distracting]   2)Do Not Trade on Wednesday..[I have had some of worst losses on Wed, also gives me a break for PDT Rule]   3)Only Trade 9:30a - 12:00pm or 3:15pm - 4pm  4)Only trade stocks with solid indicators.  5)Be HUMBLE   6)Do Not Get Greedy

So in short when I traded CLSN Pre-Market on Wed., Oct 4, 2017 I broke all these rules.  I have more rules...these are the ones I broke.  I was cocky and greedy over the previous days' wins.  I had made the most in one day ever ~$491.  I had gained on CLSN the day before and decided to grab another $50 or so before the market open[trading in a way I had never before while talking on my cell]. Tim posted a wonderful Video Lesson about how CLSN was over-extended!  I was busy breaking My Rules so I didn't see it until the next day.

 

I recognize I am a novice at day trading Penny Stocks.  I refer to myself as a Student Day-Trader of Penny Stocks.  This helps me keep myself in a humble place.  With every trade, gain or loss I realize I have so much more to learn.  Wed's trade of CLSN rocked my "Newbie World".. LOL!  I had an emotional episode all day....and realized Friday I was not yet ready to trade..hence the LINU loss... I am going to stop here. This Journey of being a Student Day-Trader of Penny Stocks is just in its beginnings for me.  I am learning so much about myself and having to examine why I have taken certain actions in trading. To all the Newbie, Student Traders the RULES you create for SUCCESS are Your Own; based on Your Personality, Desires and Goals. I end with this bit of advice.........

"Make GOOD Habits" by having the Discipline to #1) Follow Your [OWN] Rules!

 

Thank you for taking the time to read this blog.

Success to everyone in trading!