I used to live for weekends, I loved weekends. I hated going to work or to classes during the week, even when I worked in the financial district of New York City. At my desk I would dream of a lifestyle in which I felt rich, wealthy and full of a life that I mastered. These days, I hate the weekends, because I now have the vehicle that can provide the lifestyle I dreamed of and weekends only slow the momentum down a bit, they are like yellow lights.
0 Comments
Something that has been extremely helpful for me is analyzing both my trades after the market closes and also trades that I did not take that others may have profited from. This is helpful because I can become aware of what caused me to miss trades, patterns or buy signals that may have been right in front of my face. Repetition is the key to mastery. In seeing these patterns over and over again, my hope is that we may acknowledge them in real time and become better traders as a result. In the pursuit of such mastery, here is my review on LBUY, a stock that broke out when the market opened on 09/29 and what could have been done more efficiently on that day.
I didn't trade today, I was traveling. However, that gave me the chance to analyze the market again. My findings I believe are useful for a beginner small account trader. The main thing that separates us from gamblers is patterns and strategy. Being able to see a particular pattern on a chart and to use it strategically is the difference maker for us. Take a look at a strategy that I've found to be consistently profitable, as safe as the market gets and as simple, in regards to recognition of patterns, as one can hope.
Can we have another good day in the market with stocks that rise more than 200% like JAGX did yesterday? I don't know. Let's hope so and find out. In the meantime, here are the stocks that I have on close watch today.
The market is heating up, that is definitely true! Small cap stocks are on the rise now that the summer is over. Here is a quick review/recap on the day.
The tempo of the market is changing, it seems that bullish stocks are returning just in time for the end of summer and the beginning of the holiday season. This is a good time to take advantage of stocks making huge moves. Here is the watchlist for September 25th, 2018...
Click the title or "Read More" to review the stock picks I have on close watch for September 24th, 2019.
When you understand trading, a video like this just makes so much sense. It speaks to your soul. "All mountains have peaks and lows... all waves have ebbs and flows. And our goal is to ride the momentum, to recognize the signs of familiar patterns, to execute a smooth analyzed process, to build wealth along the journey." - Israel S. Dudley A detailed plan of a few beginner strategies that I am analyzing for use in trading. Click "Read More" to review!
Morning Recap: September 18th, 2018 Today's trading session lessons remain mostly the same. LESS TRADES, LESS TRADES, LESS TRADES. Warren Buffett once said, "It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you'll do things differently." In a sense, I am proud of this morning's trading session because I implemented a new strategy and it worked very well. However, let me also tell you about the challenges. Morning Recap: September 17, 2018 Today was a big learning day. I made an interesting mistake this morning. I spent the weekend preparing for this morning's market open, I created a watch list, analyzed the charts for each stock, created entry and exit points, I did everything that was necessary, I should have just followed my strategy. However, when Monday rolled around here's what I decided to do instead. For most of my life I have dreamed about financial freedom, about the possibility of living freely without worrying about a 9 to 5 job or bills. I dream about driving that 2019 Mustang around and actually owning it. I dream about living in that condo in New York or Los Angeles. I dream about being financially well enough to help the people I love the most and give back to others who have graciously given to me.
I am a fortunate young man. I am talented and skilled in many areas. However, financial freedom is the area where I crave the most skill right now. The challenge however, has been finding a craft that provides the opportunity to become financially free. Day Trading is one path to that goal and it is the path that I am choosing to document, commit to and succeed in. On this page I will record my progress. The goal is to turn $500/$1,000 into $50,000 within less than 2-3 months. Of course, people will say I am crazy. However, people have done it before. The key to making that dream a reality is skill. Tony Robbins once said "you can take all the money in the world away from the rich and it won't be long before it will be back in their hands." What he meant by this is it's not the money that should be of concern, the money simply follows the person with the skill to obtain money. My goal is to obtain the skills. I have spent the last couple of months learning from successful day traders who have committed to and succeeded in this very challenge. I have studied them intensely. I am ready to take on the challenge. Here is Day 1. |
Categories
All
"The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.”
Ed Seykota “It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.” Warren Buffett “Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” Marty Schwartz Archives |