LODE popping in premarket, saw the double bottom and lower high but didn't enter. Hit 11ish before tanking at the open. Taking a step back in the next week or two to study before jumping back in.
I learned today that there is an amount of risk involved. You must lose in order to win. Sounds weird but I am coming around to accepting that point. Entering a trade, there must be a set loss one is willing to take vs the win one can possibly achieve. A stock will invariably pull back at multiple points but the strong ones will come back. Pullbacks are normal, it's just the pullback that one is comfortable taking before stopping out on a loss or holding on for a possible uptrend. This blog entry might seem like nonsense but it makes more sense to me as time goes on.
I hope that I figure things out before I give up trading, this has been a real struggle. Wish I was 30 years younger.
Study on people. It's the only way to win.
@trader1701 I'm right there with you trader1701. Not part of this young crowd either (60) . but alot of them seem to have caught on. Keep studying as I am trying to do, I'm sure it'll come around eventually if we stay positive and do the work. I'm retired now and have nothing but time on my hands. It's kinda like a hobby but I want to do it right and have some overall wins.. Keep it up and Good luck.
Thanks for the words. It's a marathon not a sprint. Just keep chugging along.
Right on!
yes fully accept the risk of losing worst case before i take the trade. losing is part of the game.
Join now or log in to leave a comment