I am now getting a sense of my trading style and rhythm.  After two months of immersing myself in the Challenge material, watching and learning from Tim Sykes and other successful traders, I am now starting to easily recognize trading patterns and figure out a strategy that works for me.

I am an early morning riser, so early morning trading suits me best.  I can do my best work before 11 am, so I need to ensure that my prep work is done before 4 am, which means that my wake-up time is 3 am.  I believe that my best pattern to trade is morning gappers.  I will pursue this for the next 30 days, until I have mastered the entry and exit strategies.

I have noticed that unless I have done the preparatory work and am confident in my trade plan, I tend to "chicken out" and exit too early, or become overly confident and exit too late.

So my goal is to "cut losses quickly," and make sure that I have a solid risk management plan in place.

I also realize that I can manage only one to two trades at a time.  So my goal is to do max 3 - 4 trades per day.   My trades are usually short-term, less than 10 minutes. The goal is to easily identify the best setups that will yield the highest returns.

So:

1. No trading shares that are below a dollar unless they have demonstrated significant momentum in the prior 2 days.

2. No trading of stocks that have no catalysts

3. Keep the number of trades to less than 5 per day

4. Focus on refining the gapper trading strategy utilizing pattern recognition and optimizing my execution

5. Study, Study, Study.