Just thought I will put down my experience that I had this week, so that other's can learn from my mistakes.
Let me tell first, this was my 1st week in real money penny stock trading...
Monday: Fell in love with EYEG and ASTI, made a profit of $24
Tuesday: I was in love with EYEG and thought this is the stock which will make me a millionaire :(. Didn't let it go. Even people in this forum suggested to sell quickly. But kept it for the whole day.
Wednesday: Kept EYEG whole day, but it never came up. Suffered a loss of $153.00. For a beginner like me, it was a major set back.
Thursday: Started with a fresh mind, VHC was my new love. I entered at 7.22. Failure with EYEG was haunting me. So quickly came out at 7.19, with a loss 0f $5.10. Soon after I came out, it went $7.45. I was cursing myself for being impatient.
Friday: Not giving up, will start a new day with fresh plate, with no burden of previous losses.
Moral of the story: Stock trading is 60% science and 40% fate. I should listen to both....
Remember that the markets are bouncing right now, very choppy and still deciding where they want to go, i haven't even traded all week since there was no "amazing" trades that I came across, sometimes no trade is the best trade
^^^ amazing advice. Please do not hop into any trades, nor fall in love with them. For instance, on Wednesday for EYEG , you just kept the stock for whatevr reason hoping it would come up. please ride moves that are in play and ride the wave as Tim teaches. Surf the move and get in and out. focus. disciplined and patient. Goodluck
Thank you @Keldakel , @Patience_Trader , @TraderH , @DasBrain , @BowlesTrader5 , @ramster2k16 . Valuable feedback. Infact I used them today. Guess what ended the week with a profit of $80.00. VHC towards the end picked up, entered at 6.9 and exited at 7.35 :) Cheers!
Cheers my friend, I wish you the best!
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