Today I had my first live trading win on $PTX! I went long 1,500/sh at .92 and sold at 1.00 for a $100 profit! Last week I made my first 2 live trades for a combined loss of $50 so not bad. Last weeks trades I was trying to buy breakouts which is something I've tried doing paper trading but failed. The reason why I did that was because I had seen so many plays pass by that had clear breakouts above resistance, however, the fact that I had seen too many plays pass by and I was getting a nice case of FOMA and I made mistakes because of it. It was a lesson well worth the $50 loss so i'm not complaining. Today's trade was a dip buy at support, which is the majority of my paper accounts wins. (I turned a $2000 paper account into $2800 in 2 months, throughout the next month I figured out that I was good at dip buying and turned that $2800 into over $8k All under the PDT) I'm finding that the only thing different with live trading is that it involves much more phycology, but my fundamentals are down good so I spent much of last week intentionally passing opportunities to get myself used to missing plays. So my biggest lesson I learned today is that I need to stick with what I'm good at. I dip bought with 1-5 risk/reward and was ready to cut losses as always, and was rewarded for my strict discipline and hard studying. Now I know not many will read this, but even though I only made $100 its just the beginning. With hard work and commitment you all can make much more than $100 per trade and gain financial freedom. Good luck in trading and God bless!
@FXTRADE You're welcome. And good luck with your live trading.
@OldMother Thanks mom :)
Congrats on transitioning to live trading! That's exciting. As you continue your journey, remember there are good trades, bad trades, winning trades, and losing trades. A good trade can lose money, and a bad trade can make money. Focus on making good trades regardless of whether they are winners or losers, and you'll succeed. Cheers!
@thederektaylor Thanks for the encouraging words. And I'm very confident I can succeed, but i'm always open to being wrong on a trade.
Join now or log in to leave a comment