Maybe I'm hard headed or maybe i just like the competition. I'm pretty sure its the latter of the two. Its a huge challenge to be a short seller in what is (was) a very very strong BULL market. But I just felt like, going long in a 10+ year bull market was just like having FOMO when you see an over priced supernova and try to chase it.
Now, the best thing that could happen to me was really just sitting back and taking STUDYING seriously. Instead of just listening to webinars and video lessons, I have truly forced myself to pay attention and comprehend everything. NOT only that but instead of trading I have forced myself to read books. Amazon has been my best friend this year and more of my money has gone to them then it has in losing it by being stubborn in market. I know TIM says rule #1 is cost loses quickly, I really think and believe now RULE #1 is study yo ass OFF!!
Today, March 9,2020 was a crazy morning. This was my first time seeing the ENTIRE market get halted. And of course my first instinct was look for stocks to short ASAP. Its crazy because I instantly saw how my mindset has changed. SO instead of rushing in to join all the panic, i sat back and watched to see how every other trader reacted to the news. I've seen many winners and many losers, but the great part about it is, as i sat back and watched, and waited one of my key patterns showed itself to me. It literally formed right in front of my face. Not only that but many of my top mentors were and still are watching/ trading the stock. By all means yes, shorting is a scary strategy right now, but it is has a lot of pros to it, once your careful and patient (and of course cut losses quickly).
I am studying going long. But for now, shorting just comes to me easily. Still practicing my timing, my executions, and my risk/reward. SO no huge positions yet, and yes still a bad overall profit chart, but as long as i take it one trade at a time and keep mastering my craft, i know ill become the Millionaire i know i am. Trust the process.
I love how you think dude. Wish I would have played the short side of the whole economy because of this coronavirus and the fact that it affected the whole economy so negatively. I don't have a margin account now so I tried to play the bullish side of some of these Corona stocks. They still got shorted out. Shorted and sold, shorted and sold. Buying stocks feels like putting dollar bills into a paper shredder anymore. Good job DSavage
@JBMcMiniMeMcMunstercheese i appreciate it bro....yea going long for me just never worked.. i always seemed to get in at the wrong time, either right at the top or during boring sideways price action that eventually dropped. Lol then when i started shorting, I was risking way too big of positions. I feel like its starting to come full circle now. And believe me I know the feeling of not having a margin account for a while, i just took the time to save my money and study my ass off until i could
Shorting comes to me easy also! You just have to go with your trading strengths are and mines is shorting pops in the market and pumps
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