Alright,
Just a little about me first. I just started day trading a few days ago. I have been investing long term for a while now so I have a bit of knowledge about the stock market.
I have still everything to learn about day trading.
For the past few days I have lost about 50$ a day. Watching Tim video last night made me realize two things. I'm not ready yet and I'm trading to big.
I have about 1000$ to trade with right now. Lately I was making trades with around 300-400 $.
I decided to lower that to 100$ trades until I have a better understanding of what I'm doing.
Now let's talk about today.
8:30 am :
wake up, make a latte, and get ready for the day.
9:00 am :
I'm now online. I have the chatroom on my Laptop to the left, IQ edge in front, and CNBC up top.
9:15 am :
I'm looking at the chatroom and at the premarket movers. Here's what I'm thinking. The premarket is not interesting really. The only stock that attracts my eye is $IZEA. After looking it up on google news. This is a streaming company so they should be doing good. I can't really find any new news.
On the chatroom @michaelGoode shares good news from $CPSH and $AXLA. Both Covid-19 plays. I'll keep an eye on those.
9:20 am :
I have an open position on $RTTR. A bad trade I made yesterday that I couldn't close. this stock is really not going my way. Screw it I'm losing 20% but at least I learned my lesson and I don't want to lose more.
9:31 am : Buy $AXLA @ 6.79
I have my plans ready and the market is moving. I see a strong start for $AXLA. My plan is a small trade (100$). Aiming for a 30% gain. 3 to 1 risk ratio
I buy 14 shares $AXLA @ 6.79$.
Plan is stop loses @ 6.12$ and take gains @ 8.82$.
9:36 am : Sell $AXLA @ 6.15
It started going down almost right away. I'll have to look back at this trade. I don't really understand what I did wrong. Anyway lost 9 $ let's look for something better.
9:37 am : Buy $IZEA @ 0.5170
I've been looking at it since 9:15. Huge start to the day so I pull the trigger. The plan is the same, small trade (100$). Aiming for a 30% gain. 3 to 1 risk ratio
I buy 193 shares $IZEA @ 0,5170$.
Plan is stop loses @ 0.45$ and take gains @ 0.66$.
9:42 am : Sell $IZEA @0.62$
Nice I just made 20$. I may have sold a little early but this is so volatile I just want to secure my gains right now. We'll see how I did at the end of the day but so far I'm very happy.
10:50 am:
Second latte and time to go to work. I'll keep an eye on the market but I think that's all for me today.
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