This journey over the past six months in the challenge plus a few more on Silver has been the most enjoyable journey I've ever encountered. It's been emotionally up and down but I've loved all of it.

I recently took a $480 loss in one day - my biggest ever - but some genuine good has come out of it.

Here are some very important lessons I took away which I feel will definitely get me back to trading consistently green trades like I was before.

1.) Trade only 3 or 4 set ups which you're comfortable with.

2.) Never ever switch your style to someone else's style of trading because they've spent years perfecting it - you can't just copy another style.

3.) Track set ups that feel good to you and work for you.

4.) Never ever EVER, try and chase back losses.

5.) Don't take average sets ups - they're a total distractions from the good set ups and the good set ups are ALWAYS just around the corner.

6.) Multi Day breakouts are BY FAR the most profitable strategy for longs - especially if you catch the actual breakout

7.) Intra Day breakouts after the stock has broken out or on the second day of the breakout are much less reliable. Be weary of stuffs. Expect the ascending triangle pattern to stuff some of the time roughly 50% according to my data so get out quick unless the breakout is rocketing up.

8.) IF your making green trade after green trade don't EVER Completely change your strategy like I did. You're asking to lose big time. Just make small tweaks.

9.) Track every trade on an excel and even the graphs and definitely on profit.ly even if its using an unknown alias - it makes a huge huge difference.

10.) NEVER EVER EVER Chase alerts - it leads to over-crowded trades and the volume affects the pattern and makes it now eligible to be considered anymore.

 

Hasta Luego.