Received 127 Karmas
Getting better this week. It's all mental errors. I made some good trades this week, but then gave back some profits on impulse trades and chases. But it was a green week. So the moto for next week is control control control! It's all about not chasing every stock that flashes a green candle right now.
Received 1 Karma
So...Another bad day to end a bad week. What happened: 1) Over trading. WAY too much trading. My main problem is that I was chasing around every stock that was moving because I didn't want to get left out of another $5/share runner. This basically led to me getting into a lot of stuff late. 2) Too big of positions. Again...just wanting my account to double in a week. Not really...but still. What this lead to was panicking out of position as soon as they went down even a little, or covering so fast it was basically a scalp. I was in stocks long that actually went up 1, 2, even 3 dollars or more, but I either got shook out on 1 red candle or panicked and sold for 20-30 cents. What I need to do going forward is drastically reduce my position sizes so I can give the trades room to breath without panicking and focus on trading better set ups and not trying to tag along on runners that are already way up.
Today was atrocious. Just....so much over trading and chasing. My problem right now is I feel like I have to try to jump on everything that's moving instead of picking solid plays. Hopefully tomorrow will bring more discipline.
Day 1 as a challenge student. Let's see what happens!
Received 6 Karmas
skatingjoe87 Aug 12, 17 7:57 AM
@HiloTheGreat I did see your other comment but, didn't get to it in time. Yes I am living in Germany but, am a US citizen and have an American address I use for trading. My current broker is Etrade but, am looking at IB at a later date
thefaction Nov 30, 17 12:14 PM
Great work man. Thanks for sharing. It's always inspirational to hear about the evolution of people who are getting it.
1
thefaction Nov 30, 17 12:15 PM
Since you're in the challenge is there something you can point to where you thought you started to get it? Whether it be a strategy, one of the video lessons, or a mind set switch. What do you think happened that made it start to click for you?
skatingjoe87 Dec 18, 17 11:48 PM
@thefaction sorry it took so long to respond. havent been on here much. I still don't feel like I've "gotten it" I just take it day by day and continue to learn and study. The best prepration is to always be researching and learning. A mindset switch was the biggest for me. The second I started thinking more postively about my trading and studying is when I really started to make a monumental improvement.
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@thefaction just became a fully transparent trader today!
Thank you for the video lesson Huddie. Great explanation of the framework
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Thanks Huddie Got watch this again
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