First off, I wanna say this is literally the best community out there. You guys are so supportive in chat and never wish on someones downfall and most communities are NEVER like that. Alright, so I started the challenge back in June. DID NOT place a single trade till December. I had so much FOMO cz of the crazy volatility but truthfully I wouldn't have known what to do with it anyway. Anyway, December rolls around and I put in 500 into TD Ameritrade and so far I've made around 1.3k in profit. I was very selective (which I was forced to be cz of PDT). I missed all of TSNP, CELZ and more. What I have realized is.. PLAY TO YOUR STRENGTHS. Don't follow alerts. I dont dip buy panics on multiday runners once they're breaking down and being shorted like Tim does. Yes, that works really well for him (obviously) but it might not work for you or me. Secondly, I know this is said so much but the reason I'm not negative is because I cut losses so quickly. I only have two losses and the first loss I didn't cut as quick as I should've but I did my second loss and that saved me from so much damage. Third, Price Action is everything.. Sometimes I don't even read the news, the patterns stay true regardless. Play the damn patterns don't buy into the fluffy PR's.
Things that you should rewatch countless times: Mark Croock Webbys, Framework Part Deux (A MUST), and then Trading Tickers. I'm NOT a short biased trader but it is so important to understand the mentality of shorts in this game and thats a huge reason you need to watch Trading Tickers multiple times.
Have a great New Year you guys.
Posted Dec 31, 20 8:00 PMbyPanicatthedisco
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What size account re you using? I'm just getting started and im trying to get a feel for how much I should get in with?
@jsnckrmn888 $500
Awesome read man. And so very true! Sounds like you are very well prepared and put in alot of time studying. Congrats and have fun!
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