It's hard to believe it's been over 3 months since I joined the Millionaire Challenge, and I am over 25% finished with my first year! I spent the first two months studying for the most part. I started trading for real in June and made $314 that month in profits. July was rocky, as I had a big loss on $WKHS at the beginning of the month. Luckily I learned some lessons, and I have just earned back enough money for my account to be in the green again.
I had a lot of emotional turmoil this month. I am still waiting to get called back to work. I spent a good chunk of time playing around with my budget, and I decided not to look for another job. I have some money saved so that I can focus on trading until at least December. Longer if I can manage to become profitable and somewhat consistent in that short time. I know it will be a challenge, and there will be pain, but I am up for it. Frankly the idea appeals to me. I don't really want to go back to work!
My mom is fighting cancer, and her chemo stopped working. I have been driving to my parents' house, which is 450 miles away, to help them get their house ready for sale and to help them pack. They are moving to Las Vegas so that they can be near my family and have better access to doctors and treatments for my mom. I have been trying to get in as much studying as I can, but it's really hard.
My husband has been concerned about my trading. He is really nervous that I'm not going to be able to pull it off. I don't think he really believes in it yet. I have reassured him that I am more than capable of pulling this feat off. I need to go for my one shot. This time of turmoil is perfect for big changes. So much loss, fear, and paranoia, it almost feels like I have nothing to lose at this point!
I have been much more comfortable trading, and I can recognize most of the patterns now. Many times I find a set up, but instead of trading it, I watch it play out to make sure I was right. I feel FOMO, but I squelch the feeling, even when my trade plays out like I predicted. This exercise is giving me more confidence to pull the trigger when I am nervous about getting into a trade.
Finally, my options trading is going very well. I am really interested in this part of the market, and I want to dedicate more time to studying the intricacies in trading them. I have been a lot more comfortable initiating these trades, and the majority of my trades this month are from options. I think I like these trades better because they are slower and it's easier for me to plan them.
@DipQueen Thanks! I am here for you too, if you need it. We should all stick together!
Wishing you and your family well! You certainly have a lot on your plate. I am loving options and just recent I found this on YouTube https://www.youtube.com/watch?v=7PM4rNDr4oI it is an almost 3 hour video but it is outstanding! That and Mark Croock's options bootcamp that should be in the webinar section is a great start.
@gil_fl Thanks! I watched the Bootcamp twice, and there is an earlier webbie he did in 2016 that I watched too. I am in Mark Croock's Evolved Trader service as well. The alerts are great, but I want to learn different strategies, so I bought an options book on Amazon to learn more. I'll definitely check out the link to that video you posted too.
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