by Jane | Apr 13, 2016 | Uncategorized
I would say the hardest part about closing out the loss was accepting it. I had to accept it wasn’t going to rebound soon and I made a mistake. It’s the hard part of looking yourself in the mirror and being honest with yourself about it. Sure I could have easily said I had 1,000 shares, but that is not being transparent. It is refreshing to be completely honest with everyone about wins and losses.
In writing this post I want to answer both Ashley’s and Lam’s questions that they shot over to me. Lam’s question was how do you recover from a big loss and Ashley’s is about risk management.
Getting over this loss happened when I took the weekend to fully accept that I made a bad entry. I analyzed why it happened and I was not in the trading zone. I was distracted and made a bad entry. I should have cut it while up $400. I need to get better about taking the profit while ahead. I really had to swallow the tough pill that I let a loss get so bad. However I have learned not to live in the past. I can’t change what happened, but I can learn from it to improve my trades in the future. Day trading is about being present in the moment. If my mind is caught up in a past trade or overthinking or clouding my judgement it will be a bad trade. So my best recommendation is accept you can’t changed what happened in that trade. It is ok you are not perfect. Size smaller until you gain your confidence again. Lock profits quickly if you have to and try to stay green.
I feel like my big loss was a basic risk to reward novice mistake. I saw the stock dropping and I didn’t cut the loss. I saw the momentum was going down. To me I enjoy shorting a stock from the top or buying at the bottom. I did not wait for 3 greens( 1,2,5 min chart) to go long . My best example for risk reward was my entry today on INSY. I saw that it had hit a new 52 week low of 12.50 and it was at 12.96. The high of the day was 14.23. So to me there was .46 cents to the downside and the whole year to the upside. My target was preferable up to 14 if it could get up there, but I pay attention to price action and try to lock a profit before it drops. So I watched it go up to 13.47 and it was struggling. I thought it might tank the rest of the day. So I went ahead and locked my profits at 13.40. I have learned taking a profit is always better than a loss. The goal to grow your account is consistent wins. There are some wins better than others, however all help to grow your account.
A good entry is crucial in your trade being easy and stress free. When you chase the price action and enter in the middle it is really easy for momentum to shift and you end up under water. If you are stressed about your entry don’t let it go against you. For me I have found I tend to have bad entries around 1030 am so for me my goal is to either stay in a trade or try to sit on my hands.
My office is also my daughter’s playroom as well as our workout room, so I will try to get in a little home work out. Or go to get a snack, as I tend to forget to eat lately while trading. I become engrossed with price action. All part of my plan to get balance back in my life.
As always, I love hearing how I have helped you or if you have questions you would like answered. I was brand new to day trading not long ago and now I feel blessed to have stumbled across Tim Sykes’ page armed with the DVDs to help learn the basics.
If you have a bad day. Don’t let it cloud your judgement. If needed step away for a day or two. Digest and more forward.
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.
by Jane | Apr 9, 2016 | Uncategorized
Monday began the week with a new challenge of trading and teaching. Well the rest of the week has been a challenge too. I think this week in my closed positions after commissions I might be up around $300. It seems like a scratch week for me.
Wednesday morning at 2am my little one woke up with a fever of 101.9, so that meant a day of TLC and no daycare. Not only was my little snuggle bug home, but we also had repair construction going on from water damage that happened back in February. I thought I can still trade.
My mind this week has not been as devoted to trading as it should be and it showed with my poor entries. I have not been attentive to getting out of my trades and cutting losses quickly thinking they will rebound. I am still long $BABY, $HRB, $KORS and $BKE.
This week I feel like I let all my readers down without having a stellar week again, however I know I’m human. I make mistakes and I can only try to learn from them. It has been rough week.
Monday is a new beginning to the week and a new trading day. I will try to start fresh there. I have received some requests for questions to be answered in the blog and I will get to them.
I always appreciate the feedback and all the thank yous. Its easy to write when it has been a successful week. A week like this past one is harder to share.
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.
by Jane | Apr 6, 2016 | Uncategorized
This week I began on cloud 9 from last weeks trades. Excited to teach a fellow friend the foundations from the ground up. I forget that the terms such as Level 1 and Level 2 are not known by everyone. If you don’t already know what I mean by Level 1 and Level 2 here it is for you. Level one is the basic price quote information that you can find on Google Finance or Yahoo Finance or any stock tracking app. It will show you current price and the % change for the day, The Bid price (what people want to pay ) the Ask price (what people want to sell for). Typically the Level 1 will show you the price that it closed previous day, and the high and low for the day as well as the last 52 weeks.
Level 2 will go one step deeper to show you the information above the Ticker, whether it up ticked or down ticked with red or green. I will show you the different Market Makers that receive the orders from the brokers and create the market price action. The order sizes and the times they were received. In dealing with a reversal play I look at the Level 2 in detail to see the strength on the buying or selling side. If there are 5 MM on Bid with 2000 shares and 1 MM on Ask side with 200 shares the price would likely go up with the buyers taking out or buying up the shares on the selling side. If at the bottom of a short sell off the short seller wants to cover so they might up their buying 2000 shares to the ask price and then eat up the 200 shares. Then it moves up to the next ask price. And there is a breakdown hopefully for you to understand Level 1 and 2 and a little price action.
I was in the midst of trying to explain this and I was watching BABY which had gapped down Monday morning. I played it well off the open with a nice $650 gain. Then I was up $400 and I didn’t close as I was still talking away. My lesson is to try to save teaching for after hours for now or don’t trade while teaching. Gotta learn somehow right. It is human nature to answer someone immediately and not ignore them to watch the charts. In reality, I have to watch the charts if I’m trading. I am still long BABY after my poor entry as I believe there is value to the stock and this 30% sell off from 39.60 down to 29.90s is exactly what I look for in my swing plays. This one gapped down 20% then lost another 10% and is almost at the 52 week lo. An entry around 30 is fairly safe to go long and swing as in my opinion is more likely to go up than continue down again. Once it hits the 52 week lo shorts cover and analyst and brokers start to recommend people buy the stock at the bargain price. The initial drop causes panic and it sells off then the smart people come in and follow the saying “Buy Low, Sell High”. It’s the classic phase people mention in buying stocks. It is a matter of finding those stocks and having a great entry. I am under water now, but I won’t panic as I believe in my strategy and will swing it.
That is pretty much my same reasoning with SWHC, HRB and ENDP. I closed out ENDP after it tested resistance of 27 about 3 times and it couldn’t break it. So rather than have it gap down on me at open I closed it out. With HRB my position size is smaller and it is up 20 cents from the new 52 week low, so I went ahead and held it overnight.
My biggest winning trade today Tuesday was SBOT, which I found after flipping over to Finviz.com to check out the market overview. Finviz offers a free view of the market and different sectors and the gainers and losers in those sectors. They also offer their own screener service if you want, but the home page is pretty awesome for being free. I’ve never tried their registered service or the Elite. However for someone starting out the Elite seems like it would be good at $24.95 a month.
I know with my friend yesterday she was talking about all the upfront fees with broker and level 2 and scanning services. It can be overwhelming so anytime that I can help with trying to find a quality service at an affordable beginners price I will try to pass it along for you.
Back to SBOT. I found it at that moment as one of the two oversolds stocks listed. The homepage is updated throughout the day. I looked back at the chart for the past month and it really did look oversold. I went in at 3.19 and I held it until I saw a big seller on the ask side with 8000 shares at 3.40. Rather than have a sell off happen I went ahead and took my 20 cent profit. Man was I wrong it went on up to to 3.80 before coming down to close at 3.73. I will watch this for tomorrow. In fact it might gap up at open. A good penny stock to watch.
As always I hope these help and if there is anything in particular that you would like me to write out in a blog post for everyone please let me know.
Even thought I have a bad entry I will not let it destroy my confidence in trading. I am human and learning from my lesson on Monday.
Don’t let a bad trade get you down, simply learn from it and how you can improve from the error. We are all human not computers.
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.
by Jane | Apr 2, 2016 | Uncategorized
This is my profit chart you can see on Profitly as well as many great tools by Tim Sykes and other stock trading Gurus
Wow what an amazing week? I thought it was going well on Tuesday and I had my swing trade set up for PTLA overnight. Then I began my day and took my daughter to daycare and came back and opened my computer to work on our business investment Miss VVs Mystery and I just glanced at the stock. I saw that it was past my limit order price and sure enough I’d made $3500 by 9:55 in the morning on my so called day off from the market. I continued with business work and looked at around lunch time and saw that it had tanked and was primed for another long opportunity, so I went in again and made another nice profit.
Thursday was a rough day because my daughter was home from daycare sick and I was mentally really wanting to trade. I traded through breakfast with her while she was a captive audience in her high chair munching away and once it was time to put her down closed down my position on my PTLA short stock. While she was napping I scanned and went into some more trades. I completely forgot about PBYI on Thursday which was on my watchlist. I went long OPK and MOV and PTLA again. I let the work for me seeing my risk on the entry was low and watched from my phone while playing with my daughter. My entries on Thursday definitely could have been better but my daughter with her infectious smile had my attention. She gets into everything now at 20 months old. While she was napping in the afternoon I set up my swing trades overnight for PBYI, PTLA and MOV.
This morning I was way to conservative with my exit on PBYI and MOV. I have a hard time letting my winners develop. I see a pullback which I know is due to happen with the RSI going higher and then I let fear jump in and protect the profit and right after I close the position it goes up. For most of my trades today I found I had to use market orders because my limit orders were not getting filled. The size of my orders was too much and causing a price barrier. Rather than let it bounce I would play the spread and if selling wait until the bid price reached a price I was happy with and execute there. Honestly today was my biggest day with profits before commissions were just shy of $10k. It’s on days like these that I really have to pinch myself to see if these numbers are real. My husband is still in denial phase that it is happening. The week before commissions was $27K.
If you have been following my trades you can see that I tend to gravitate to stocks that have been largely oversold. When I began my paper trading I started trend following at the same time. I would write down data and compile it on excel spreadsheets and I found my strategy. So I tend to look for Gappers in both up and down directions from the night before and that morning.
I look at the charts back 2 days, 5 days, 15 days , 1 month, 3 months and 6 months. The key to have and amazing week like this past one is definitely entry point and risk liability. If it looks like a good entry I will load up on shares.
Prior to going on maternity leave, I was working as a part-time customer service agent for a major airline for an annual salary of roughly $14K CAD. It blows my mind that I made almost double that in a week.
I have come along way in 14 months and you can too. I posed a question on Twitter if you would pay for alerts and the response was 75% yes. It will come but for now I want to give back and help people that are in the same place I was 14 months ago.
I just listened to Tim Grittani’s Q&A on Digital Stock Summit and it is very true that in the beginning it is important to find a good mentor who can help you learn the basics and then you can blossom into a trader with your own niche. So learn from others now while it seems like an overwhelming mass of information. Take it one step at a time. I’m making what seems to be ridiculous profits now, but I know I can still learn. Will I necessarily change my strategy…. I don’t think I will for now, but I can improve on it.
One of the hardest things I found in the beginning was accepting a loss. It is humbling when you first lose $500, or even $50. Especially if it is hard earned money. It is a punch to the ego. Don’t be negative about it. Instead turn it into a positive and figure out what went wrong. The psychological aspect really got to me in the beginning and that is why I turned to paper trading. It will build you confidence so that when you are ready to use that real money you know more how the stocks act and will be less likely to loose your initial account funds. Instead you will be more likely to grow them.
I have had a couple people reach out and ask me questions through DM on Twitter and I really enjoy helping them and seeing their growth. It is inspiring to see people take on the challenge. Way to go! keep up your hard work and don’t get discouraged.
Have an amazing weekend and enjoy your time with family and friends. Money can’t buy that.
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.
by Jane | Mar 30, 2016 | Uncategorized
This month is not over yet, but I have had 3 days with more than $4k in profits. I find the importance to having successful winning trades is timing and confidence. I was off with timing today but still did incredibly. Yesterday however was not the same.
I find most of my losing trades in the morning come from opening a trade before the morning panic trades have figured out a trend. Yesterday would have been better if I had waited to open my ACAD trade at the bottom of the morning selloff and rode the spike up to 25. Instead I was in a losing trade and didn’t give it time to work for me and locked in a loss. Patience on Entry is important.
With ARIA I found the stock on the bounce scanner with Trade Ideas and it looked like the RSI and the timing of the trade would cause it to have a pre-lunch cover as I like to call it. I see that on Mondays many times that isn’t always true. I try to figure out the psychological state of other traders when making my decisions. I made the mistake of adding and averaging down on my entry price and the stock never bounced. Even if I had swung this trade through today it never hit my initial entry of 6.21. I ate the loss instead and moved forward today with a clear head. More than 75% of the trades found on the bounce play alert tend to be winners and this was one of the 25% losers.
With PTLA my biggest stock I’m playing this week I saw the big selloff on Thursday and knew I would put it on watch for my long plays. Sometimes I can’t get shares to short so I try to be patient for long entries. This stock has had a great deal of liquidity to get in and out of easily. I had a great long trade Monday and added again end of day looking for a gain at open today. It did climb but I thought it would stall around 19.40 so I took my profit on a pullback. I locked a good gain, but I could have been patient to let my two limit orders execute and more than double my profit. Cant be overly greedy. Taking a gain is a gain and not a loss. I sold all my long position around 19.37 and then looked to short. I did not time my entry correctly and only had a minimal profit. I had a good long entry again 19.55 and sold it when I thought it would not cross 20. It did cross 20 but happy with my gains again and I put in a limit buy order while changing our winter tires of the cars. It executed and then I added again at 19.59. Since I plan on taking Wednesday off I will set a limit that I think will likely execute.
Monday I took my profits from GIII swing trade that ended up strong on Friday and continued the momentum. I was conservative in taking my profit just below 46 since it went all the way up to 46.69 in the am upward momentum. Looking at it today I could have even held all the way up to 47. Live and learn. I have found a winning strategy for myself and will stick to it for now.
My trades for today include the P long where again I didnt wait until the reversal happened after open. I began my position too soon.
In writing these trade reviews it really helps me to see my issues. A great trade begins with a great entry, otherwise you can be fighting the action more than you anticipate. It also allows me to study the timing in the market of how other traders act. Whether it is the robot computers making trades that are timed or real people I see the trends.
I have had a bunch of fellow traders responding about how these blogs are helping. I’m so happy to hear that I can help others in starting to day trade as it is an ocean of information. Best thing I can say is take it one day at a time and try to study and gain a grasp. Once you feel you understand, paper trade until consistent.
Just like running a marathon you don’t wake up tomorrow and run it you need to train to prevent injuries and have the mental ability to finish. The same is true with trading you need to add to your knowledge each day and it will compound and become easier. The psychological aspect in the begin can be very tough especially when you feel you can’t make a winning trade. Study to ensure you don’t end up there.
I love hearing from you and how I can help. To each person that says I inspire them, you guys inspire me to write these blogs to help with your feedback. Thank you and know you can do it too. When you have a passion you make time!
I love my job now and I look forward to sitting down to trade each day. You can love you life too. Your days of your life are what you do and who you associate with in you time awake. If you aren’t happy, make steps to change that and do it today.
If you are brand new I recommend Tim Sykes How to Make Millions DVD. The proceeds go to charity so you are able to help others while educating yourself.
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.
by Jane | Mar 25, 2016 | Blog Post
I’m excited about next weeks Digital Stock Summit March 28-April 1. Even though I’m doing well there is always value in learning from others. There were 18 different speakers. It was free during the week above, if you are interested in these valuable videos then you can buy lifetime access to all the videos for $149. And a special discount code SJT50 for 50% off. Amazing deal $75 for 18 hours of expert advice.
Check out the site. When you invest in education you never lose.
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.
by Jane | Mar 25, 2016 | Blog Post
When you are trading and you have great entries it is really hard not to have a good day. I had 100% track record today with 5 winning trades. I did not overtrade and was patient with my entries and exits.
It is important to be able to find the right stocks in play. With a stock that has the volume and momentum the trades become easy. On Monday or Tuesday I discovered the Trade Ideas Free Trading Chatroom.
This chat room is great for two great reasons. You get to see live action of Trade Ideas for Free, which I feel is amazing scanning software and you also get to be a part of chatroom which is really nice for newbie traders.
I know what it is like in the beginning when you don’t know what broker to use, what charting software and are overwhelmed. This chatroom is nice because Barrie the moderator is great at explaining what you see on the screen share. Also for someone just starting out this isn’t going to eat into your trading budget with a cost of Free.
Today I traded 5 stocks which I all found through Trade Ideas. I like to play bottom bounces and reversals and the software is amazing at finding these plays.
WDC had a big selloff yesterday and going into the long weekend I expected the shorts to want to cover to avoid the short borrow fees. It acted in the way I expected 100%
I set my limit for my sell at a reasonable point around the whole dollar mark of 48. I would watch it in between my ass kicking by my trainer and happened to catch it the moment it spiked above 48.
With NRG I saw it come up on the scanner and consolidate down around 12.35. I knew that an entry at 12.38 was not going to be bad as it was 3 cents of the low of the day. NRG had only come down 50 cents off open so I did’t want to get greedy and looked for the first point of resistance over the half dollar mark to set my limit. My sale executed while on the road to the gym.
With GIII I opened this swing trade on Tuesday expect the gap to be filled somewhat by the end of close today. It had a very strong finish and I believe there is more to be filled so I held 50% of my position through the weekend looking for a spike at open on Monday to start the week with a cushion.
PTLA I thought would have a bigger finish to the day with such selling today. In at 12.35 and out at 12.44. It did go up to 20.65 and I saw the resistance but I didn’t exit. A poor exit on this one but still in the green. I will watch PTLA for Monday.
I am long GIII 44.67, and STRP from 27.47 and will watch PTLA as well. Sunday night I will check to see if anything else interests me, but I will probably decided on Monday morning.
You can see with the right entries and patience and for me letting my winners work without me there. It is possible to have a great day. A good entry is crucial. Knowing where you stand in the price action for the day and what your risk to your entry is will help you to stay green.
As always study hard and do the work and the results will happen. I began with a $6K loss in my first months. Now I am making $2,500+ in one day.
You can do it as well. I do really like Tim Sykes giving back and I’m very thankful to have found his tools to learn. That is why I highly recommend his How to Make Millions DVD which is roughly 35 hours and a great starting point.
The best part is the proceeds from the sale of the DVD go to charity in which he give back to people that need it. When I get to the Million Dollar Mark I want to give back as well to a charity for children.
Until then I will give small to other people that I know appreciate the help. Today I made $1300 with my trainer and treated him to some training tools.
He was talking about them during our session, not knowing they would be gifted to him for his good heart and compassion in training others.
I believe in helping others and it won’t necessarily come back from them but you will get it back in other ways. So if I can help in training others to be self sufficient I am happy to do so now. Who knows maybe one day I will set up a real teaching program. For now all my blogs are also helping me to review my trades and grow in trading as well.
Have an amazing holiday weekend!! I love hearing about other’s journeys it is touching to learn other’s stories.
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.
by Jane | Mar 23, 2016 | Blog Post, Uncategorized
A good trade is a combination of multiple items and timing is very important. After the absolutely amazing trading week last week I felt like I should be able to find some amazing trades.
Well the result was overtrading both days. In overtrading you can stack up wins, but you also stack up commissions.
Todays frustration was with VRX seeing the evolution of the rise all day and My poor entries and exits on GIII. VRX. I had a good entry both times, however the second time I could have let it develop more for a better gain.
On GIII my timing was all off. I started my short and it continued to rise. So I added and I added and then when I say I was in the green I tried to be patient to let the trade develop when I really should have taken the gain.
I see the reversal happening right in front of my eyes and then boom in one minute it moved 54 cents and my gain was washed away. I then took the time to no longer fight the trend and go long.
Trading is a perfect example of being in the moment and not hoping or living in the past. I was watching GIII and eating lunch with my husband. I saw it come to 15 cents from my exit target and a moment where I was hoping and not trading the action.
I was distracted by conversation and didn’t sell with a nice gain. I then left for the gym and saw it retest up by 46 but it did not cross it again. Then it had an afternoon fade.
I added one more time when it seemed like it had bottomed at 44.50 and then it collapsed down to 43.80. I feel this week I’m off with my timing and need to be a sniper on entries and exits.
I am finding the stocks with the movement and just not executing them correctly. I am still profiting, but I have room for improvement.
At the time of writing this GIII has moved up in after hours trading to 45 and should have a nice spike up at open for shorts covering. I anticipate it will hit 47 before the closing bell on Thursday. Don’t forget a shortened trading week with Good Friday.
My take away from the first two days of the week is be patient for the right stocks. Be a sniper on entries. The right stocks will perform. I feel like with GIII I almost had the deer in headlights watching it hit my targets twice and I did not execute. It’s ok something to work on and get better. Once I do I will be well on my way to making my cool Million ok first my $100K.
I hope you were successful yesterday and today and if not analyze what went wrong to try to correct it. My areas to improve are not to overtrade and wait for ideal setups with indicators on all three charts 1,2,5 min charts when entering a reversal trade. Then allowing the trade to work for me and when I see resistance or support don’t fight it take the profit.
I’ll be back on Thursday and hopefully will open my account tomorrow to see my GIII limit orders executed for a nice profit on my day off from the market.
Don’t forget you can alway check out Trade Ideas Trading Room for free during trading hours and they are allowing you a full free trial Wed and Thurs. Check it out!
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.
by Jane | Mar 19, 2016 | Blog Post
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.
by Jane | Mar 15, 2016 | Blog Post
Today began with pure utter frustration and me yelling profanities at my computer. I am usually a calm and even tempered person but don’t mess with my internet connection to trade.
I logged on at 9:15 after dropping my daughter off at daycare to pull up equityfeed only to have the router drop my laptop connection. I was ready to punch my screen! I spent 45 minutes last night trying to figure out the problem so there would be no issues with trading.
I even called Apple Care. Once my husband heard me cursing he came into my office and hugged me and reminded me about the hotspot capability on my phone.
So I set up a temporary solution to tether to my phone, while my husband went out to buy our new amazing d-link ac 3200. By the time he came back I was proud to tell him of my success to be my most profitable day yet.
I have the chart of SCOR posted as it was my swing trade that I exhibited great patience. I entered last Monday at 28.26 after a huge selloff. I should have been a bit more patient to enter near the low of year and week of 26.20. I knew that the news of the delay of the reporting of their financials and a sell off of 30% was an overreaction.
I think this comes from my value investing days where I saw this negative news as a catalyst, however the value of the stock would bring it back to close the gap. Once the news of the selloff slipped away and some positive press behind it my target of 29.45 would easily be hit.
My husband would ask me daily about the stock ever since I asked him to watch it when I took the day off last Tuesday.
We discussed last night about my sell target and I took my partial profit at 29.45. I had another target set to 30.49 and then as I saw it break 30 I let the emotions get to me. I saw the profit and I wanted to lock it in. As soon as I sold at 30.10 it continued to climb hitting 30.50.
I then saw an opportunity to short and sold at 30.40 and in a fat finger error I closed my short at 30.21. After that gap down it contined to climb up to high of day 30.89.
Once again I need to work on letting my winners develop and not cut too soon. I am so thankful I made $4300 and learned how to anticipate these moves. I ended up going long again at 30.74 3:55 looking for a gap up and further climb to the stock.
Today was my best day yet with $4558. I am so thankful I took the time to work hard and learn. I
t is crazy to know that I basically made my husbands one month take home pay (converted to CAD) in one day. I was honestly in shock when I was sitting down eating lunch with my husband. My adrenaline was coursing through my veins and I couldn’t believe this has become my reality.
You can make it happen too with hard work!
Study hard have the right tools and change your life starting today! It just takes small steps daily to make your dream come true no matter what you dream for yourself.
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.
