1 month ago I wrote this blog post: My biggest loss but I feel great.
On that day, I executed my 4th ever trade, after studying > 2 years. That trade turned out to be a loser, my biggest loss so far. But at that moment I felt great. Why?
Because I was learning so much. Every trade I executed so far has been a real experience. I want to talk about my biggest win so far, but let me tell you this: I was down overall before this trade, but I still felt great. The money I lost was not a problem. I'm only looking to learn as much as possible with a small account.
2 years ago, my goal was to learn as much as possible. 6 months ago, my goal was to open an account and execute my first trade. That brings me to today. My goal for now is to prove to myself that I can be consistently profitable, and I feel like yesterday was a big step towards that goal.
I made my watchlist, as usual (which I post on my twitter account). I started tracking the stocks near the market open, and saw GEVO. It was not on my watchlist, but I saw the massive spike. It was a low priced stock, which I like, and after scanning the news I saw that the upside was pretty big. (I never expected it to do what it is doing at this very moment...) After the opening of the market, the stock had made a HOD at $0.58. I saw it dipping towards $0.50, and I anticipated support. After I saw the 0.50 upport hold briefly I bought 1000 shares at $0.50. I set my hard stop loss order at $0.45, so I felt very confident about my risk level. All I could lose was $50.
The stock started to dip towards $0.46 and I was expecting to be stopped out of this stock. If that would have happened, I would have been okay with it at that moment, cause it would have been a well executioned trade. Luckily, the stock bounced and my stop loss never got executed.
I felt confident holding the stock all day as the price action was very nice, the chart was beautiful and people slowly started to get in on the action. The company would release another PR later that day, so I pretty much knew this would test the HOD again. And boy, that's what it did.
It was so amazing to see it take down the HOD. It crushed through resistance and found its way to newer highs. Near the market close, I sold my position at $0,64, for a $129 gain after commissions. I knew I could have hold overnight, but I was with my girlfriend and am always at work during market open, and most importantly, I just wanted the fucking profits lol. I imagined this stock would tank overnight for whatever reason, and I did not want to get greedy. I exited for a 28% win. Fuck yeah. I said to myself recently, if I could get a 10% winner, that would be amazing. This 28% means alot to me. It felt thrilling to watch the stock crush through resistance.
This profit got me in the green numbers again, which is awesome.
Skip forward to today: GEVO touched 1.85 premarket. Holy siht. I never expected this to get this high. Should I have held overnight? Maybe. Do I feel bad about taking profits? Not at all! I'm so fucking happy with this profit lol.
This could have been a >$1300 win for me (350%) if I had held overnight and sold premarket, and who knows where this might end up? This might try to break $2.00 today. But earning $129 on a $500 investment is something I could only dream of 2 years, 6 months and 2 months ago. So I don't think about the what if's, I think about my educational progress and my great percentage win!
For now, if I can continue to land profitable trades, I might one day want to increase my account value. But at the moment, I'm just going to continue learning and trying to execute profitable trades.
You can follow me on twitter, where I post all my watchlists and trades. If you are also a beginner trying to learn as much as possible, or interested in my progress, feel free to have a look and start some discussions.
Trade safe and good luck today!
But great job sticking to th plan, I'm slowly trying to train myself
@stockBuddy Yes today I fucked up big time lol, still up overall on GEVO, but I had to take my biggest loss so far. Will do a blog post about it tomorrow... I think I made every mistake in the books here... But it still does not bother me that much, it's all for the same purpose: to learn.
NICE!
@timothysykes Thanks. Much appreciated!
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