This morning i made my first trade every and well lets just say i panicked. I started it all wrong but because my money was cleared i was all eager to start trading and that was the first mistake.
In an attempt to dip buy $EBIO around 1.35 I got so nervous I forgot to select LIMIT and when I placed my Market or it gave me the shares 1.41. Realizing this i instantly started to doing the "PLEASE GO UP PLEASE GO UP!!!" speech in side my head but it kept hanging around 1.41.
After calming down a bit i started to revert back to what Tim taught all of us in the DVDs is make a plane and stick with it. So that is what i did 1.37 was my lower limit and 1.45. understanding the Level 2 and how that work I watch it carefully and it felt like an eternity to get back up 1.41. So being so nervous and scared I just said forget it I'm getting out and sold my shares.
This resulted in a $19.99 lost due to commission fees but the lesson was great and I'm actually really proud of the trade because I actually understood what I did wrong and knew how to correct it. That is why I know I can make it through the trades and have a chance at being a "Tillionaire"!
Posted May 04, 16 9:43 PMbyMbouwser23
Received 3 Karmas
Oh the nerves!! Well, that said, you made your first trade. Congrats!! I still yet to make first trade. Thank you for sharing ... this does help a lot of us who will be crossing that threshold.
As Tim always says "hope is not a strategy", which is something I have to remind myself at times. You kept your losses small, and protected your account. Great job!
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