So I became a Challenge Student a few weeks ago and have been struggling to keep up with the action while the market is open and study as much as possible at other times. I have an insane amount of activity in my life right now, and I am stretched way too thin. Even so I have managed to put in 20 hrs a week of study and focused attention to the market or lessons or alerts. I have changed my routine into a morning routine after being a night owl for the last 30 years! I have another 2 months of this insanity before I see the end of the tunnel, so I think I need to revert to paper-trading until I can properly focus.
Case in point: This trade on HDVY! I made the trade following Tim Sykes on an alert, and not by doing my own research, (already bad!). Then I held overnight because I hoped (more bad!) the price would open higher the next day, and this is something Tim said might happen. The next morning I got greedy and didn't take a small loss when I should have (more bad). I then got sidetracked and life took over. By the time I got back to this, the following day (brutal!), I was down a ton! The only thing I did right was to keep the position size small, so this loss is actually not meaningful to my overall account.
So much to learn!!
As long as you learn from them, the mistakes are okay. Better to make the mistakes early with a small amount than later with a bigger size. Good luck and welcome to the challenge!
I appreciate the encouragement! Thanks
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