2nd week in challenge.

- Committed to daily watching of lessons for 1-3 hrs per day; so far have watched 1x: PennyStocking 1, Pennystocking Deux, PennyStocking Framework. There is a lot of course material!

- Advise from Jack Kellog: watch 2-3 webinars a day. I am at a min doing 1 and trying to do more.

- Took notes on each of the courses and getting familiar with 7 step framework; webinars have at least 2-3 key jewels

- Jack K: 15m candles look for hammer candle to advise on direction; confirm on all time ranges for confirmation of resistance

- Jack K (criteria for Long / swing trade):

    - History of gapping up

    - Multi day runner

    - Large relative volume

7 step framework:

- Look at daily charts to identify pattern

- Tech analysis to identify resistance / support lines

- Look at 'stage' of chart to determine where to enter / exit; continue to review old webinars that discuss and review the charts

Watchlisting:

- I have to add more details into the trades I take

- ArtofWar provided excellent feedback and good advice on the approach to take re: adding detail; will listen and continue to improve that

Trades (penny stock):

- Taken were done w/ a bit less anxiety.

- I have determined that for pennystocks that I should watch and trade just a couple of setups.

- Realized that dip-buy and breakouts are two of the key LONG patterns I should work on striving to be consistent on. Will work on this over the next 4 weeks and work to be consistent. I missed several on Friday which were CING and GOVX. I reviewed the charts today.

Trades (QQQ Options):

- Trading put / call on QQQ that are within 30 of the strike price for 30 day expiration

- Charted some consistent patterns last week; did ok, working to be consistent on this

 

1st Short Trade!

- Absolutely did not know what i was doing.

- Made $2.10 profit on a very small short

- Filling at bid is interesting

- Must do controlled experiments on good entries to get comfortable with this

- Will just lightly experiment with very very small lots so that I can learn; will add this to repertoire after gaining comfort w/ dip buys and breakouts

 

Goal for next week: dip buy and breakout consistency; charting, prep, watchlist