Hello all, Ive been paper trading and watching every video of Tim's for about a month and a half. With some good success paper trading I finally developed enough confidence to pull the trigger and put my account to use.
I narrow my watchlist down to two or three stocks each morning because I work full-time in construction and its hard to watch several stocks on a worksite. So this morning I narrowed my watchlist down to SPEX and TROV. At 8am TROV had a press release annoucing a contract win so I made the decision to buy pre market (after just listening to a video saying don't buy premarket, idiot right?) at 1.37 up from 1.20 in the matter of minutes and I lost while SPEX skyrocketed but I didn't even think to look at their chart until almost noon. Go figure right?
In the end I cut losses quickly and managed to only lose about $15. I liked the chart so I decided to buy back into TROV at a third of the position size I had this morning and am going to hold overnight. Overall what a great day of learning. If anyone has feedback I am all ears, thanks guys!
Great replies guys thank you for it..learning process for sure, watching videos as I type this. If I become successful as a trader and construction worker ill be sure to let you know haha but I am sure thats far down the road. Best of luck to each of you.
Welcome HighTyde and thanks for sharing your experience! I am also new to day trading and have crammed as much TSykes learning as one would think possible over the last month. My 1st trade was on 6/16. I took a very small position on WKHS, held over the weekend, added to my position on a Monday dip, sold all shares later in the day and ended with a decent 1st profit.
My 2nd trade was DCTH which I purchased during market hours but watched like a hawk during post-market and pre-market hours. I ended up selling during pre-market hours with a nice profit as well. My big take home was to be sure to have a strong enough position moving forward to exit quickly and still have a profit after broker fees, especially after market fees which are a bit higher than market hour fees.
I use ETrader and the difference is about $4. Sorry to be so long winded but I am very excited for you and the rest of us newbies. There is so much potential with patience and discipline. I’m grateful to Tim for sharing and empowering us on this journey. The very best of luck to you my friend!!
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