Hello there, this is KKG, one of the teams challenge the student.

This is my first post, and I am not very good at English, so correct me if I have any grammar mistake :)

 

A little background, I am a native Chinese. Right now I live in San Francisco, and my main accounts are Etrade and IB (only use for premarket scanner). And I am a student at the University of San Francisco :)

I join the challenge in this July and start trading ever since. There were many lessons that I learn from all my losses and gains. The first and most common mistake I made was emotion trading. So I just want to share my experience here (Since no one in my real life would understand, LOL )

 

When I first start trading, I was buying at the exact top, and selling at the exact bottom. 

In order for me to buy/sell a trade was I need to be "Convince". I was in the "reaction mode".

" Oh, here is a big uptick, let me get in."

"Oh, here is the break out, let me get in."

Every time, I found myself being very sensitive to the price action. "The fear of missing out."

 

And I believe that is how those 90% of trader trade, and I was one of them.

I believe it is very common to be in the "reaction mode", and so it lead me to think how the other 10% would have traded? So, I did some research. :)

 

Many successful businesses began when no one was "convince" that it was a good business. Usually happen in restaurants, when people found that making yogurt was a successful business, people wants to get in as well. 

I think that is the same thing in the market. Many people end up losing money because they are waiting for the "evidence". That is what they called "Chasing". 

I believe we should have the entrepreneurial thinking, which are not to follow other people's trade, and not to listen to other people's thinking (The chatroom).

Stay in the "initiate mode", not the "reaction mode"!

 

 

Yup, that's one story I want to share today. Welcome for discussion.

I study Entrepreneurship throughout my high school and first year in college. Now I am a Finance major.

I was kinda amazed by how the "the 90% thing" was so common in different business field, and the number is the same.

 

Yes. Yes. I am a nobody, at the end of the day I just want you to think about, are you in the "reaction mode" when you are making a trade? :)

Thank You, for reading my first blog.