Three weeks in and it now feels like I am treading water. Like I'm swimming as hard as I can fighting for my life just trying to keep my head above the water. A bunch of small idiotic losses over the course of a few days have now diminished my account size to about 3/4 of what it was at the start. I feel quite dumb that it took a $450 hit and $550 paid in commissions for me to open my eyes and realize that I might have overdone it a bit.

 

On another note, I've worked on my patience and entry timing this week. On $ATOS, five of the seven trades I took were profitable, and one of the main lessons I have learned from those trades is: Scalping with a thousand shares and 4-5 cents of range is fucking stupid.

 

I guess it's a good thing that I am able to find humour in my failures, and that for some reason it makes me feel better writing about them. Now, I started my journey with the understanding that the road to profitability would have a fe speed bumps, and I get why it is important to ease back on the gas and take them one at a time. The fastest route to a blown-up account is overtrading. 

 

Before I decided to give trading a real shot, I sized down my account to under 2 grand to protect myself. I think this decision will prove to be the right one in the long run, because I believe that if my account was bigger, I would inevitably risk more out of greed. It's just the way our brains are wired. So for now and until I find consistency, I will trade with a small account and I'll consider adding-on later.

 

Oh, and speaking of stupidity and greed, I am long on two swing positions:

1) $NCTY: 750 shares @ $0.93 avg (Bought the PR news in anticipation of the $1 key level test. I am giving this setup a chance using $0.81 as my risk.)

2) $DFFN: 1000 shares @ $0.71 avg (Close to the multi-day breakout level of $0.75ish and waiting for the intra-day chart to line up. I'm thinking this has a lot of up room but is also quite heavy overhead.)

 

This week is night shifts for me and it makes it a tad harder to get screen time. Hence the swing positions.

Have a good trading week guys and thanks for reading.