I have officially quit my landfill job, and the weight is off my shoulders. Now I have accumulated a new weight to carry and its time for me to prove my worth to myself. This week has been a great trading/learning experience for me, I entered my trades very well (in my opinion) but I need to work on my exiting. the few trades that I lost on were day trades that you could say I more or less chased...and lost. That brought me back to the drawing board and I thought it better to buy into stocks that I expect to be higher in the next few days to week. and that strategy began to work wonderfully. my profits were the highest I had ever seen them...but again my exit was timed incorrectly and even though I didn't lose money, I definitely didn't take what was there for me to take. If I would have sold when the voice in y head said so, I would have profited enough money to have made a 120% increase on my account this month alone. But I decided to wait one more day for the "BIG" PR to come out and then the price dropped...so I had to get out as I watched most of profits go away. But next week is a different story, next week there are no distractions. I have reevaluated my strategy and this time when Im up 85% in two days I exit the trade. THERE IS NO PLACE FOR HOPE OR WISHFULL THINKING IN THIS MARKET. I am however extremely grateful I was able to learn this lesson without taking loss.
well recently ive been trying to balance running heavy equipment and trading on my phone at the same time, which is how i busted a window out of the compactor my last week lol. Ive been focusing on marijuana stock thats where ive had my best results. I hold from a few days to 2 weeks, I started with 1k and i dont want stagnent money. I invest in a stock that i believe will be higher by the end of the week its alot less stress that way (for me anyways). For example i bought MOSY @ .237 and watche
Don't listen to any negativity man. Just others imposing their own fears on people with actual balls. I'm in the same boat and it's not been easy but guess what? I'm studying my ass off all I can because this is what I want to do and I want to do it well. Respect brother.
How about using a trailing stop loss to allow your winners to run more?
I could give that a shot as well, ive never used the trailing stop before ill expirement with it .
Join now or log in to leave a comment