It has been 3 months after joining the challenge and I would like to summarize some of my learnings in pennystock trading so far:

1. Don't be greedy

- Many times losing money is because of greediness. You have won, but you want to win more. It is easy to fall into traps and make irrational decisions when too greedy. Stop chasing. Take the profit and move on. Strike only when there is good opportunity.

2. Patience

- Patience is the key. But also the right type of patience. Being overly patient can kill you. For example you are in a short position and the stock keeps on rising and breaks risk level. But you are super patient to wait for it to come back down and it never does.

- Be patient to WAIT FOR THE BEST ENTRANCE PRICE is the key to winning. A good entry price has much higher chance of winning. Many times I lose is due to poor entry price .e.g when the stock is already hod (chasing breakout, which turns out to be fakeout).

3. Stick to the rules

- Follow the trading plan, the one or two stocks that are set to trade for the day. Over trading and follow could profit but could also make you lose more, as you did not do the research and just following. A lot of times when you got the news something is already on trend, its almost reached the peak and then it will fall crazy. Stop chasing and cut loss quickly if it is not in the right direction.

4. Maintain habit

- I need to wake up earlier than usual each morning to research and plan for the stock trading. But sometimes I just woke up late and it did affect my performance. I need to be more consistent in doing that. Get ready at least 1 or 2 hrs before market opens, or else, rather not trade for the day.

5. Accept losses

- When you lose, you want to win back. Your confidence has declined and affect decision making, which in turn makes you lose more. Sometimes our brain needs the break to learn. Learn from the mistakes, review the trades. Bear in mind the mistakes I have made and never do it again. That's how to learn and improve. Strike again next time to win, but not blindly gamble to win back the losses immediately.