I made $545 on $TPTW today and I now see the beauty of the mindset of a retired trader. This move was such a gimmie and the easiest money I have ever made. I am going to be much more picky from now on, even if it means trading a lot less. I need to be so much better than I currently am, and I can get better without trading as much as I have. This trade made me wonder how big I could have gone. The volume was insane with $TPTW, and that was reminiscent of its previous spikes when it ran for multiple days, and went supernova. The conviction I had was the highest I have had to date, and I was right. It made me wonder how big I could have gone in this position and still been executed as easily. Many other trades I have made I knew immediately that I would not be able to get in and out as easily if I was in a bigger position, which made it seem like a waste of time in the moment, even if it was a 20% profit!! If a position I am in is not scalable, what is the point of being in it? I have been seeing myself as a boat as a trader. If there is no volume, there is no trade. Volume can be compared to water in the analogy of a boat in trading. The boat is not going anywhere without water, and the price of a ticker can be spiking into the stratosphere but without volume, there is no play.
Now, I am a very small boat right now, almost like a child's sail boat in the bay. The gurus around me are much larger ships out on the open water because their position sizes are so much larger, and they need much more volume in order to successfully sail their ships through these trades. Getting in and out of a position is as important as any other factor.
God help me.
Join now or log in to leave a comment