Technically I made around $2700.00 so, close enough! Everything has been upside down in the market this week so far. I still tread bottoms looking for bounces or recovery-type pops after morning panics. I only take starter positions, with the understanding that I have PLENTY of capital and buying power to avg that mf down if I have to but, if your pick is good enough, you're looking north. MOST important of all, I am patient. Some days, I just sit and watch and pretty much study charts looking for patterns or trends. Familiarity is also key. Like anything else, you become familiar with not only a stock, but also it's performance. You KNOW where the lows and new highs are. I learned two new (but embarrassingly old) techniques this week as well. I mean wow! The learning doesn't stop.
I can't stress enough how effective cutting your losses can be!
I also can't stress enough the importance of sizing your positions correctly. You be surprised at how solid some of the basics are.
Can share pics of gains or I'll post them later.
Cajun
I know I say "average down" a lot. That's NOT a good habit. Ultimately, if you don't have momentum (play), you got nothin'
I'll say this too: I know it looks all cool when you hit some wins, but remember - there's a lot of STRESS that you don't see. There's a lot of waiting and watching that you don't see. Even MISTAKES that you don't see. I'm talking about dumb mistakes. That's actually what I should blog about. lol That's what's important. The lesson.
Great job bro! It's great to see people getting a grasp of this whole thing! I can feel I'm getting better! I've focused on not chasing and waiting for familiar patterns and breakouts across resistance and I can't express how much it's helped!!!!
appreciate you. The less stressful you can make your trades, the better. I know that's easier said than done, but chasing stocks is not only dangerous but VERY stressful lol. We've all been there. And maybe still do it sometimes LOL geez.
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