I remember starting my journey the end of February last year with the goal of being profitable as a day trader. Then a couple of weeks ago I had my first day with over $1000 in profits. Now 7 weeks into 2016 I am up $4700+ after a couple losses and I feel disappointed with profits of $1100 this week working 3 days.
I remember when I thought I just want to make a profit.
Now I feel like if I don’t make around $500 a day I’m not satisfied. Its interesting how perspective changes.
What I still need to be better at is cutting losers and not let them get away from me. I had some poor entries this week when I wasn’t a sniper waiting for the momentum to have already changed. Under water right now in 3 stocks $INCY, $TRIP and $RAX.
The best part of this week was chatting daily with my brother who is also excited about learning about day trading and in particular Tim Sykes’ methods. I loved starting off with Tim’s DVDs. Then I found Warrior Trading Chatroom and I love it. I tried it one day free and I thought if I make in one day what 3 months cost I will subscribe. I did and so I subscribed. What I like about this chatroom is you have Ross as a visual giving you audio and Mike and Ed in the chatroom too. You have 3 great guys with 3 great strategies. My second reason for the chatroom are the scanners they customized from Trade Ideas. I have used them to find reversal trades and scalps to add to my daily wins. I’m happy to say I’m testing Trade Ideas now and I love all the features that you can add to scans and to alerts. The AI Holly that runs scans all night to find setups for the next day. It is amazing software. The one issue I have is I feel I still need to understand all the parameters to create alerts that target the stocks I’m looking for to trade. There are plenty of chatrooms out there and teachers I think it is important to find one that has a fit with you. I like Ross Cameron a lot because I like the audio as he is doing his trades.
I had reminder today with my daughter home from daycare that I really should concentrate on her or trading but not both. I missed my close out opportunity for $TRIP.
As always Monday is a new day, a new week and new possibilities. As a stay at home mom I absolutely love my life day to day and thats what we live. Hard work and studying and adaptability will help you succeed.
This blog is for information purposes I am not a registered securities broker-dealer or an investment advisor. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund.