Hello Again
Been a long time since I posted a blog post
I started out in February 2017 as a Challenge student and immediatly posted 5000 $ in my trading account - before I knew nothing about buying, selling or in general anything about stocks or the market.
I watched a couple of movies and just had to get my feet wet and jumped into the market - clearly this was a HUGE mistake and i ended up blowing up my first account in just a couple of weeks.
Started watching all of the DVDs and webinars and using alot of the time studying while spending way too much time looking at the market and the stocks Im in.
I guess around 20 k of my total loss is because of my lack of knowledge - I don't know how many finances and reverse split I've come accross but lost alot of money just not knowing what will happen or how this would influence the stock.
I decided to show all of my losses even though they are massive - this is my savings and really starts to annoy me the size of the losses but either way I think it's important to be transparent as Im gonna turn this around.
I started really hard studying as I soon figured out that there was no way I was gonna manage this without studying my ass off.
After loosing for 9 Months straight i actually had a green month in November where I profited 1744 $ after commisions. I had over 2 weeks - almost 40 trades in a row and over 4500 $ in profits on the run. I stuck to the rules and just nailed everything at the same time as I really went in deep on the DVDS.
I really thought I had turned it around and felt really comfortable.
Then - 2 trades as I followed alerts really fucked it up and my main problem - cutting losses quickly came back again making me take losses on over 8000 $ in Desember and lost all of my
2017 was clearly as you see on my chart a bad bad bad year for me.
I manage 2 companies with 10 employees and I don't have any spare time at all - but still manage to study atleast 2 hours aday along with watching the market for 4-5 hours on top of working 12-15 hours at my paid job - I sleep 4 or max 5 hours each night to get as much study time as possible - clearly not ideal but that is the way it has to be and in the end it will be worth it!
My other problem is also that at the market open is the same time we deliver our work back to our customers - this is a huge problem for me as I can't watch the plays closely enough and I have taken so many losses because of this.
Ive done all things wrong - Ive used leverage and refused to cut losses and I end up chasing the stocks \ bagholding for a long period of time and im just so sick of that.
And the dumbest thing is that I KNOW what im doing is wrong and I see the patterns - I see the reversal and either way I just can't seem to cut my losses.
In Nov I finished all of the DVDS and feel that I now have a good understanding for the market and Ive started watching and taking notes on all of the old video lessons - I want to get all the knowledge I can to be prepared when the play comes to me.
For the last few months as my knowledge clearly has gotten better I feel that im clearly on the correct path - I spend all my freetime and nights and even the workday watching movies and taking notes. I try to give answers to everybody that is asking in the chat and really help out others as much as I can and I think this is real important in the great community we have here.
I could have done all of this mistakes with only 1\10 of my loss if I had taking smaller positions - but this is the way I am. I either go in big or I don't do it at all and this has been the way I have done things my whole life - I clearly see that this isn't the way to go in the stock market and I have really learned my lesson the hard way!
As
Im going to the Market Mystery now in January where I finally am going to meet the man himself Timothy Sykes and im really looking forward to this as this will be a huge experience for me.
Don't reply on this post if youre gonna address the losses and lack of dicipline - I think about this 24\7 - what I could have done with this money etc - I can't do anything with the money I have lost now - all I can do is remember them as really expensive lessons and I know that I don't want to have more of it!
Im showing this to all of you to let you see what happens when you clearly don't listen to the rules and try to go big with leverage etc - the losses can be massive!
Now Im prepared and have studyed my ass off and I have tried everything that doesn't work and thats an important lesson too!
2018 is going to be my year. No more leverage! No more not cutting losses! No more bullshit! Ive used almost all of my savings and time on this and I will turn this around!
Watch me turn this around! Because I will be a profitable trader!
@JKelly I do alot of swing trading but im not especially good at that - but havnt read about IT much either so theres something i will definitiy look more into. Im good at buying panics And dips - so my strategy
@JKelly is that right now - thanks for your reply:)
@vmunz Ty very much - You too!
@StevieW The Swing plays are easier to spot for me. I do ok with day trades with an account over 3k, but on small accounts I need the swing plays to make real money. Just made a great play again. Was gone for awhile do to health reasons and now trade lightly till get my accounts back up
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