So .... tonight , Trading from Australia each night. Over here the market in the USA begins for me at 11.30pm running till 6am. I also work part time and its hard to maintain work , home duties and trade all night into sunrise only to sleep 4 hours and begin my days routine. I came into this with the wrong approach. The more I sit here night after night after night.... I realise my approach is wrong. I was learning to trade with my goal being to making money. BUT.... I realise I'm actually not here to make money. I'm here to learn how to trade. I see no point in rushing off half assed making losses because I don't have the skill sets. Easy to think I do, put a trade in, based on the minimal skills I have and expect I'm going to win each time. I did some very early awsum trades when I begun a few weeks ago, but I realise now they were based on nothing and just flukes. So I came here tonight to learn something, my goal was to better analyses the stocks, do more research, put more work into qualifying a trade, then buy small and forget about making money. I executed 4 trades, two paid off ( $1.00 each ) and two hang in the balance still. So I pegged two and I'm not exactly right on two. Better than last few days, now Ive pulled my giant head in and got some perspective. Ill remain like this now, small trail runs, a buck here a buck there ( literally) win or lose till I get the patterns down pat, understand what tools I need to give me the edge, learn the skills. If that takes 9 - 12 months or more, so be it. Can I do that for a year or even longer? I do not know, its a tuff routine. But I am not that rich I can gamble given I don't have the full picture as to whats going on. I will probably go back to paper trading to test my skills as I learn more. Why use real money when learning, its nuts! I'm not here to make money, I'm here to learn how to trade. Its the best approach I can make, and fairest chance I can give to myself.

So I thought dip buying on good news counts. I guess it does count but its not always going to make a big difference in every trade. I dip bought ADIL today given it had a little good news in sales results. it sold 10,000 COVID antibody rapid test kits. Its a key they say to preventing breakout of the virus and a critical thing to containment in the USA. Anyhow I was right and I was wrong on the play. I got in toward the dip, 2.39 and the dip continued...and continued.... all the way down to 2.12 and i pulled the plug. Down $88 dollars. BUT the thing went back up to $2.53. I cut losses fast, but the stock was low already when I bought it, I should have realised it probably wasn't going to totally barrel and it would eventually bounce. So at this stage Ive decided to go into experimental mode, testing. Im going to buy small plays, 100 or 200 shares on small price action along with the other criteria, good news, dip buys after morning panics etc and see how that goes for a while.

My First ever Dip Buy today - BUT im such a Clutz. I miss read the share price. I bought in at 0.0209 and sold @ 0.0235. My mistake I miss read it as $2.09 to be the buy in price. I made $1 hahaha !!!! But much more importantly I just saw the value and perfect set up for a dip buy and completed it successfully even if i made a buck .

History; SUNW. Ive been trading okish last couple of weeks. I stuck to my plan, trade small, cut losses fast, I was neither ahead or behind. BUT Ive only taken seriously small positions, a few hundred shares or less each trade, so I couldn't get into much trouble. Feeling more confident I upped the antics tonight. I also needed to better learn my IB Trader software given last week I became confused on my longs and shorts and kinda messed up what I was trading, long or short in or out. I EVEN accidentally shorted 1600 shares of something in error, luckily with no loss. The Plan: Tonight I wanted to focus on using the IB software with confidence in shorts, to know when I was selling to buy and buying to sell without getting confused. To understand my summery displays in the software and to execute without error and to identify a decent play. I had been watching SUNW last couple of weeks. It starts out high, ends low or tanks as a rule ( bar a supernova over one day last week) Plus it has bad news right now. Its also tanking somewhat now from breaking out last week. So that became the target for my IB software learning in order to execute a short and make a buck. I got in just as planned , Good! I saw a small profit begin, I waited for 2 or so mins and my profit went from Green P&L to Red P&L, suddenly I was at a loss of $79 Soooo fast, I covered, cut my loss FAST. I was happy with my execution, it went like clock work with no errors unlike last week using IB software. I knew exactly where I was and executed as planned, then to get out FAST and use the software with confidence, no errors or fluffing about. The Mistake; I then decided to chase the $79 dollar loss. That then turned into $350 loss. The Lesson; The thing I can now re-enforce is don't chase a trade trying to recover a loss. It REALLY re-enforces that finding quality trades is KEY, but to rush off with no plan just to chase a loss is futile. Reason ; Its not a plan! and if the stock didn't do what I expected then its the wrong play, it may not be a quality trade ( and wasn't for my plan to short) chasing something with no plan, or an abandoned plan or a bad plan trying to get back a loss = stupidity. Its like chasing a ghost and all that you get is Haunted!!. Emotionally; I also now know how it feels to be short squeezed, a little breathless !!! Not good. Loss of confidence, loss of self-worth, loss of security. If I was a stock today, id be tanking. Summery; Chasing a stock is like a bad relationship. If someone your interested in gives you the flick, better to walk off , chasing after someone who doesn't want you only makes it worse , in every way imaginable. Not to mention the emotional stress! Stick to your plan, don't break your strategy for the wrong reasons! If you break your strategy do it for the right reasons. When I lost on the short and it begun spiking, I should have bought the breakout OR walked away, not keep shorting because I was emotionally compromised. I lost all objectivity. Its a mind trap. Be more like a first responder, arrive at a horror smash, don't panic, step back assess the disaster ! STOP and re-evaluate the play! Unclear; What I don't get is why SUNW is spiking on its current bad news....

I'm not making the connection between studying patterns ( to remember ) and how those are applied now in real time. Surely these things r unique like a finger print offering up soooo many variables. I reckon a lot of Sykes staff would not be staff if if it is doable, why aren't they doing it... logically, having great access, would be even easier right? Just my thoughts...not a bad thing to observe .. it just seems logical. I also think back in the day when Sykes was trading he was in a full Bull market ! PLUS I suspect, hugggge volume! I notice Penny Stocks each day have dwindling volume, like a dripping tap... But I still have an open mind, not knocking the system, just evaluating. Would love some lessons on how to execute , what to watch for and best setup on broker software. All the strategies in the world wont matter if you cant set up and execute a trade on your broker software. My broker tells me use market price to get in and out of trades and Michael Goode say don't... Yet using market price executes fast where as bid and ask price tend to hang about for a while. and you miss the price action.. My profit would be up more, and losses down, if not for this execution dilemma. I know there are some tweaks to know, what are they ? * shrugs* Would love some lessons on best approach. I contacted Support about that, I mean surrrrrrrrely you would think our illustrious teach would cover all bases, execution being included ? But Support says nope ! So its like getting half a lesson. But , so far Ive held my own, Sykes has taught me what to watch for, when to get out and when to buy ( in basic) which has helped me remain even on my trades, no loss no profit give or take a few K either side, nothing changes. Could be worse, a lot worse! My thought for today. Cheers for now

@Deuss just became a fully transparent trader today!

I just covered my SDRL PUT SPREAD for a $192.73 gain and it was commission Free!