So I'm actually blogging this a day later. I did very well yesterday with gauging the top of $SPU and trying to stay comfortable in my trade. Though it was a small position, it gave me some confidence to stay in this crazy game. However, today... is another story. I went in today with a ready plan and TOO much confidence and I tried to create plays instead of waiting for the right setups. Because of this, I lost my small winnings from yesterday plus some. You'll see it when I upload it after it clears my brokers. So I guess my message is that even though you have a win one day keep your head in check. Don't force plays and don't fall into "FOMO (fear of missing out) mode. I will continue to study as I have since starting the challenge in Dec. of 2015 and learn.
Even though I'm not pleased with my progress, I have learned so very much from Tim and the rest of the Gurus that do the webinars since I've started. I was a true newbie and didn't even know how to work the platforms I was using to place trades! I know I've come a long way, but still have a much longer road ahead. I know that with perseverance and patients I will come away learning how to become a better trader.
So, if your new and feel like you suck right now, it's okay. For some, trading comes easier. But don't let that fool you. Some folks out there are NOT fully transparent and will boast about their $2k+ wins and not even peep a word about their losses. So the best thing to do is to not compare yourself to others, but to compare your best trades (no matter how big the $ amount is) to your worst trades and LEARN from them!!!
Cheers and happy trading!
Daisy
I am completely green & new. Great to hear frank comments from a new trader. Will enjoy watching your progress. I hope to start trading (small) after another 3 months of study. from
Hello! I liken trading to any sport since it is mostly a game of the mind and your ability to control your psyche. I've found that the days I don't keep my emotions in check are the days that I lose the most money and breaks the most common rule of cutting loses quickly. Welcome to the chatroom and if you have any basic question I don't have a problem answering them. I am by no means a guru, but I might be able to help you not make the same stupid mistakes. Happy trading!
Omg.Well siad. I'll have to keep the ego in check also. Tim said it well:"Don't rely on the alerts". My guess is that we'll get lazy and not do the work ourselves.I joined 7/5 and am still going through the material. I bought twer on a dip the day before and just let it ride because the profit was slowly rising, when it poped today. We got out early but I was happy to take the profit. Felt good. Had 1000 shares. Nice trade also Daisy.Thank you for the king kudos.
I'm trading on TD Waterhouse in Canada(Van.BC) but will transfer over to etrade when my account gets alittle bigger.
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