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Hopes and prayers as a trading technique

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Today was an interesting trading day. We went through the daily gapper list at the Bear and Bull Traders room with Carlos and Norm (https://bearbulltraders.com), and my eyes were set on WSM that gapped 12.33% and was trading at around 57.95 with a previous day closing price of 51.59. My thought process: the stock has gapped up huge, and I figured whoever bought the stock premarket will sell at the open and I was ready for a quick scalp trade to the downside. What I did: About 2 minutes after the market opened, I shorted 300 shares at 58.02. It was a good one, and the price went down to 57.05, and I covered half of my position at 57.29 with about 100 bucks of profit. Then it started to go up... and I was frozen like a deer in a headlight. My plan was a quick scalp on the short side, take a quick profit and let it run if it has to and re-short when it finds the top. Did I do that? No. I left 150 shares short, and it went above my entry price. I was red now, and while it was still goi
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Cataloging my trades on a blog...

Last week I had the opportunity to trade alongside many people who participated in the BearBull Challenge (https://bearbulltraders.com), a trading chatroom service that I am a life-time member of. Those who participated in the challenge were given 25,000 in equity (paper money of course), and we were allowed to trade on a DAS platform and the game was on. I wasn't number one, but for once I grew the account from 25K to about 30K in one week. What did I learn? I learned that I don't know much about trading, this after 2 years and some months of trading. But I also learned that patience is the key to trading. I am a short biased trader that can't go long even if my life depends on it. I have a pessimistic mind set and believe everything will eventually come crashing down. I am mostly right, but I suck at the timing to enter a trade. I learned that if i can wait a little longer to give the ticker a chance to exhaust itself, I can get a better entry and go in with size. The
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January 2019 Report

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I don't have much to say except I still consider myself a day trader, and I am doing everything I can to learn to trade and become consistently profitable. Before I start, I want to give a shout out to Joshua (@jscherniack) who is responsible for most of the green days I have. He is a member of the group I am following and learning from. Yes... I joined IU again, and I am there to stay. This month, I joined back the Investors Underground community (after taking off for some time). As I promised, I am here to report on my progress. This definitely isn't and shouldn't be seen a review of the group. After all, a mentor can only teach you all the tricks they have in the box, but it is up to you to listen and do it. Any failure or drawback in your activities shouldn't be seen as the mentor's failure. This month started well. First day in IU and another chatroom (that I am life time member of - Bear Bull Traders), I was listening and watching the gurus at their best
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My Experience with Investors Underground (IU) in the first 4 months.

I am not a new trader and have been trying this for the last two years and few months. I have nothing to show for it now, but I keep trying and I am sure I will eventually get it. As we speak, I am down by a lot (net) but it will change. I am sure. No doubt. I have joined different chatrooms in the last two years with varying degrees of 'loss' or 'failure'. NO one to blame but myself. I was a member at Investors Underground for about 4 months, and while I was fascinated by the people in the room, their willingness to help out when you reach out, I still couldn't get any success that I can speak of. The problem with IU - it is mostly me. I focused so much on what Nate comments on from the moment I join the chat in the morning. I tried to look at the charts of every ticker he mentions, and I lost focus. I kept opening and closing, and I didn't understand his language much - not new people friendly. But after the 4 months, I took a break and went back to see so
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Daniel (Hagereseb) here. You might be wondering what business I have blogging? Honestly, you are right. But I am doing this more for me than anyone else. It helps me to get grounded, and helps me say what I want to do out loud so that when it comes to the point where I don't know how to proceed, I remember what I said here and try to be true to myself. I am also inspired by Dante  http://dgtrading101.blogspot.com and he has been an inspiration to me since I discovered his blog. If I were you I would stop and go ahead and check out Dante's blog first. Especially if you are into trading. This blog isn't about anything but also will be about everything. It will mostly focus on my journey in the trading world (stock trading). It will document my feelings after a trade, the trials, the frustrations and hopefully the light that I still hope to see in the end, the light that seems to be as far as the night star flickering light years away. My only hope is, I have seen peopl
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