I will keep this short, if anyone cares to read the diatribe of a losing fish trader.
I plan everyday using a a scanner, looking at indicators like past performance, volume, market cap, price/pattern etc, and sometimes Tim's SSS. I evaluate which stocks have the best odds and chose where I would enter the next day. However most of my stocks fail miserably, even when most of my watch list is from Tim's (because I don't want to stray from a strategy with an edge to trading something with likely no edge).
So what do I do now most of my stocks have failed, from Tim or otherwise? I jump on the bandwagon with moving active stocks and chose a low risk entry point from there. Difference is I haven't researched and planned these and I have to make a call within seconds and by then I no longer have the price I wanted since it moves too fast. So I don't trade at all. The next day I repeat this cycle and lose by timing it all wrong then I stop trading and refresh then lose again if I even trade at all.
Dilemma: I want to give trading more of a chance since I've never been a quitter its not my nature. But I don't want to keep losing my money trying.
@IceMan14 I mean drawing trendlines. I'm kind in a crazy cycle that I need to break out of. My problem is hesitating on good setups when I lose. Then not trading for a while because I'm scared then I have the itch to trade, so fomo trade, lose then the cycle repeats. So now I know exactly what my problem is I can correct it. You have to be mindful and self aware before during and after a trade
@IceMan14 And don't be so hard on yourself. You've only made 15 trades, just think of it as market tuition and try not to make the same mistakes again. I've made 200 trades and I'm not giving up
I agree its funny when I take a step back. I could satirise the emotional cycle of trading. Speaking of flags, any opinion on GALE for a buy if it double bottoms? I don't want to buy it at 2.43
@IceMan14 I'm not good with buying double bottoms. I used to do it and lost a lot of money. Prefer to dip buy on stocks up an uptrend not downtrend. The only time I'll buy something on the backside is when it's a really low float and it's dropped a lot which means it could bounce or a panic dip buy on OTC stocks. I wouldn't touch $GALE but it's up to you and what you're comfortable with.
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