Lately I have focused on Tim's "process" of stock trading. You know what it pays to follow the process from beginning to end. At the beginning of the day I check for Highest gaining stocks and look at the stocks I watched or played the day before. I have a small account so I have to look for stocks under $5. I go through the process and make a decision. This morning I got the alert from Tim about him buying $LIQT and right away checked it out. Didn't buy I went through the process and checked where it was at on the chart before taking any action. Well of course it was near .80 so I didn't chase but watched and waited for a sign of entry. While that was happening I saw that $RHE was also just starting to run. Did the same thing but still missed an entry. No trades for me. Iv'e had several days like this lately without any trades. You know what I'm actually happy because everything made sense. I felt confident I was doing everything right and if I would have entered any of these trades they would have failed. When I trade I'm not doing it for making money I'm going through the "process". I know that when I time it right, then I'll make the money instead of losing any.
Yeah I've noticed that as well. At least this week and last, it seems that most of the plays are done and over with by 10:00am. For me personally, I haven't had that click yet were I learn how to catch stocks as soon as they spike or just before. I've been entering on the breakout of a pullback or from resistance. But in either case most of the 20,30, or 40% run is done and i'm left with 5 or 10% or it turns out to be a fakeout breakout.
Like Tim says be patient. If I were to do it over I would understand everything your studying and watch the stocks and don't trade until you can see trades happen with success.
That's good advice. For me it's hard to be patient with anything but I'll work on it.
Same here I've had to force myself to be patient because thats how this game is.
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