My first time trading with a real account. Due to the PDT rule I ended up breaking rules and losing all of my profits that were 20%+ each.
Valuable lessons learned/notes from my experience:
- If in overnight trade, sell on the first red candle in the morning
- NO distractions during plays
- Think in percentages, never pay attention to the dollar amounts
- Remember, 10% wins add up, don't get greedy
- Cut losses quickly once your goal has been reached
- Get out once you're reached goals and at first signs of the asks getting stronger than the bids on Level2
- Start every play FRESH, don't think about how much you made or lost already, today the P/L was averaging out my positions (entries) which threw me off. I should of let the early position (where I missed the bottom) off my mind and just focused on % gained/taking profits based off the new entree.
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