It seems like each week my profits are becoming better and better. This week I had my biggest winning day twice. First It happened on Monday with $4500 in profits. Roughly $1000 on Tuesday and Thursday. My most exciting part of the week was finding ENDP on the scanner setting up for my new favorite reversal setup. Both SCOR and ENDP were down roughly 30% hitting 52 week lows and rebounding. I was lucky enough to enter $ENDP on Thursday with an average of 28.24 which was 80 cents off the bottom of 27.45. I knew that it was oversold and was going to rebound. I had a limit set for open on Friday morning spike at 31.24. I thought it would improve throughout the day with all the shorts that sold off during the week and so I only sold half at open. In hind sight, I know that when I hold overnight for a gap up sell 100% at open don’t wait. I ended up adding on the lows and closed my final position at 29.73 for my newest biggest day of $4700 including my short on LXU which looked way over extended up from $6 in two weeks.
This week has been an absolute blessing and seems almost unreal. I remember the days last year I was dreaming of these sorts of wins. I was frustrated with poor entries at the time, sizing too big and not understanding the price action of the stocks. In time it has become clear through practice and finding a winning strategy for me. I started with Timothy Sykes and I have taken the knowledge from him and created a strategy that works for me.
Honestly each time I hit a new milestone like a $4500 day and then a $4700 day and a $11,700 week I have to pinch myself. This is my new reality it seems to have all clicked. It can for you too with the work. Every trader is different just like every athlete has their own stride. With the right training it can and will happen. I have run 4 marathons and have the mental will power to persevere. In studying stocks there is a large emotional hurdle to tackle when you have losses or you make a mistake.
In the beginning I would get scared and let fear cause me to exit a trade at the biggest loss point ever and then it seemed like it would rebound. I studied these mistakes and now I love the reversal. I figured out my weakness and turned it into my best strength. When something goes wrong turn it into a positive. Figure it out and learn from it.
Have an amazing weekend! Be strong and continue each day with a fresh positive mind and you will 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.