April 2019

 

So April was a great month. It was also a red month, but that does not define my progress. For the first 3 weeks, i was very similar to how i was in March, only 3 trades, First one being a big loss, a stupid loss, a chase. 15% loss, it was my second biggest %loss ever and my biggest $amount ever $-149.85. Now i wont really get into much detail with it, not to hide it but because i feel that it was a repeat lesson that i am dealing with and it was simply fomo plus thinking about money, not the bigger picture of what i was doing. I also had a real good trade on $RNN for 10% gain, it was pure strategy and Preparation working together, sadly I let my emotions get the best of me and i sold way earlier than i had meant to in the beginning thus leaving and extra 15% on the table in just a few more minutes. As i watched it go up immidiately after selling my position i was like damn, i knew it was gonna go higher, and i did, but when i knew i was up 10% i sold, not bc i was told by the chart or price action to sell. I am working on that. My other trade was also strategy but when i saw the strategy wasn’t working i simply sold for a scratch or tiny gain($5.33). Now those first few weeks aren’t what made the month great, sure i appreciated that one 10% gain, but what really changed things were the things i’ve been doing away from trading. I recently came across Jake Ducey ( jakeducey.com I HIGHLY recommend checking him out) With what i’ve been learning from him about how the mind works and how we are in control, it has allowed me to suppress my fear of losing money, now not completely, but a lot. This has helped me trade more. So from April 23rd to the end of the month, I traded 6 times. Thats twice as much as i traded in the first 3 weeks. Now granted 3 of those 6 were losses while two of my wins were scratches. I did have a 11% gain. And all these trades were with real small position sizes, it helped me ease into trading more. Just like earlier in the month, My 11% gain was strategy and preparation but it lacked patience, with my entry (premarket) i couldve made 40% just in premarket and or almost 74% if i nailed it sold perfectly after the market open. Now i dont expect me do get those %gains, but my thesis for my trade definetly expected much more than a 11% gain, but i promise seeing me make good gains expecting more than watching it go more, is definetly helping my patience. So really want i’m working on now, is patience and ignoring the bullshit that i know i shouldnt be touching. I am rather well at cutting losses, tho the first day of the month (my 15% loss) i did mess up, but that is not the norm that is the exception. It’s hard to explain why this month was so good, when the statistics dont seem that good. But its beyond the execution of the trades i took, it is my mentality that has really leveled up. Even with losses i felt like i was nailing these trades, and i kinda was. My executions weren’t nearly as on point as my thesis for multiple trades, that i took and that i didn’t. Its the behind the scenes that is really great.  I know that I’m more consistently profitable than my profitly chart decribes, it’s just catching up to my mind. Now i know i might sound ridiculous but i dont care, yall will see. I really love how this is going. Overall for April i am happy, and honestly surprised that i ended down $52.90 but thats alright. I just need to stick to what i know, trust my gut and pull the trigger, and not be afraid to use some size. And of course, stay true to Rule #1 Cut Losses Quickly.

 

 

Now i debated adding this since this is for May not April but fuck it, It is May 2nd. So yeah i was a little late on doing this Report, but i’ve been keeping myself busy. Anyways, So far this month of May I’ve already traded 3 times (as many trades as my first 22days of April). Now all of them were today actually. TWO of them were STUPID chases on $ABIO because yesterday as it started to spiked, i wanted to buy, but i literally had to leave to bring my Mimi (grandma) to a doctor appointment within 10minutes of that time. So i watched it spike a little while debating forcing a quick trade in, i ended up just leaving and was gone for most of the day, running around with my Mimi. I kept checking in out $ABIO and was watching it go crazy, matching my expectations and much more. So this morning I woke up and saw it up some, and i fell asleep (yesterday there was some family issues that kept me up til 2am which is wayyy later than i normally go to sleep) and so i wake back up with my computer on my lap and check $ABIO again and its kinda chopping around but showing volatility and holding 11, for awhile i was scared to buy because they could’ve done a offering ( i did not check SEC filings so it’s not like i knew they needed it or anything, it was just a fear, a rational one tho imo). Anyways so what made me really believe that this could run big was the fact that premarket it was down a couple dollars a share and managed to surge back thru r/g and go up another couple dollars, i have seen this multiple times before and ik its squeeze material plus i saw in chat that huddie was long and he thought it was going to 20 (nice call) this wasn’t my reason for buying but it was extra conviction. So right at 8:35 i say fuck it, i’m gonna buy 50 shares here at 11.4, so keeping it small, my goal was to make multiple dollars a share. As i’m making the order it spiked up to like 11.70 and i was scared to chase it because if it pulled back to 11 ik i would’ve most likely sold, even tho in hindsight thats only a $35ish dollar loss which is not bad to me. Yet i looked at it like damn i was bout to buy, then it just went crazy, up in the 12s which i was like fuck that and off it went to 19ish in less than 13minutes, after seeing that i was kinda annoyed that i didnt get in not even 30seconds prior to when i tried. That led to a stupid chase in the 17s, The only good thing is that i cut that loss quick to prevent me losing multiple dollars a share, one minute later it spiked back to the 19s, thus a laugh in my face. At first i was really happy i took the loss and was like yeah Jake thats what u get for chasing. Then i was like, this could keep going, and so stupidly i bought again in the 18s, almost immidately cutting the loss, for like 60cents a share, decent sized loss, but i still cut it quick, it was just so volatile. After that i was down $115 which is a real big amount for me to be down. Smart enough i stayed away from it, i realized it was a shiny coin in a very dangerous spot and it simply wasn’t worth my money. I had tried focusing on the money i could make and not the bigger picture. Luckily i stopped myself there. Then i switched my focus to $NSPR which was told to be a sympathy to $ABIO, it also had a low float yet it wasnt as small, but very close, and it didnt have news, which i definetly wouldve preferred but since it had volume and the price action was familiar along with a couple other factors, when I saw it spike big pm then open and spike a little then pull back and consolidate for a few minutes right above $6 then start perking up, i bought, and very quickly i started to get rewarded, i talked to myself and made myself be patient. And it went up a decent lil bit and i got out for a 10% gain. I just realized it was my second biggest $gain to date ($129, which made up for my two stupid losses and some), right after $OCX which coincidentally reminded me of this trade, the way the two of them played out and where and why i bought them were very similar.

So if yall wanna take anything away from this, i see it could be these things.

Stick to what you know and ignore the shiny nickels if you know its stupid or beyond your arsenary.

Cut losses quickly, one good trade can wipe out multiple small losses if you manage them right.
Be patient when you have strong conviction.

Yes my sell on $NSPR was early, but it had no news, i couldn’t be as patient with it, that just wasn’t smart

Take the Meat of the Move

 

And look into Jake Ducey and help yourself IMMENSELY

comment and let me know what you think and if/how this helped you :)