Hello,
Its been a rough couple of weeks. I started off last week with the flu, traded very little. I sold off my positions on KBLB for a small gain, as It didn't spike on day 2 or 3 after the initial spike. I wasn't prepared for the run-up this week as I took a small carpentry gig at the end of the week, that unfortunately held over into this week to pay rent. Hard earned cash reminds me why I am learning a new trade. I don't expect it to be easy, or free. I have realistic expectations, however I haven't given myself realistic study goals. So that is my mission stretch. To examine what my study patterns have been over the last month, and stretch them out from a 1 year timeline to a 3 year timeline. This also means that I will have to take around a weeks worth of carpentry work a month to pay my bills. I budgeted enough for one year of studying and trading as long as I could end the year in the black and up 15,000. I still maybe able to attain that goal, but I have been cognizant of my patterns and how my trading is going. I know more now than when I started, and I am encouraged by the trades I see my mentors and fellow traders making everyday. This week, I missed on 2 trades. both were good overnight setups that I had bought into strong closes. My trouble was selling into strength in the morning spike. I got greedy, didn't use the tactic of edging out of my position, and ended up missing the sells completely. One of them I took for a small loss instead of holding and hoping. The other one, I am seriously down on, but I am willing to give it a bit more time. Giving the one more time, was my original plan. The lesson there is, I should have taken a starter position into the close on its strong Green Day, and had it stayed green, continued to buy into the confirmation. now that it is solidly red, holding support, I am just underwater and waiting for the catalyst that should push it up. I kind of compare it to my KBLB trade, where I didn't wait long enough, and just wanted to get out as soon as it peaked its head above my initial purchase price. Consistency is ultimately my biggest challenge. I can have a good trade, then a bad one, then a good one. I have noticed that my losses are not as great as they once were. So that is a good thing. Also I am really getting into being under the PDT, learning the strategies that work well, and taking the time to study patterns, watch plays develop, and not being afraid to miss a trade. alright. Time to go sail to Horn Island and think of a different time the Walter Anderson lived.
Thanks for sharing 👍, I’m brand new and it’s helpful to hear from
other students
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