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 reason I didn't do even better last week was I rushed to short some tickers when they had strength, when they were going up and I was squeezed. But almost all of the stocks that I let run against me, eventually came down to be green by the end of the day. If I had waited on my entry, the week could have been an even better week.
Going forward:
I am still a hard-core short seller. I believe stocks eventually come down but now I know when not to short and I know how to give myself a small room (a defined risk) to get out when it is not working. I will try to catalogue my trades in this blog, and those who want to see my struggles, my journey, give me some ideas or just wanna tell me I suck, you are all welcome to comment here. I am starting with 1500 in equity. I am not going to try to pay off my school loans in one year but my goal is to be consistent and try to figure out a way to slowly scale up my trades and maybe eventually be able to draw some money from the markets.
Let's see.
Daniel
May 4, 2019
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 reason I didn't do even better last week was I rushed to short some tickers when they had strength, when they were going up and I was squeezed. But almost all of the stocks that I let run against me, eventually came down to be green by the end of the day. If I had waited on my entry, the week could have been an even better week.
Going forward:
I am still a hard-core short seller. I believe stocks eventually come down but now I know when not to short and I know how to give myself a small room (a defined risk) to get out when it is not working. I will try to catalogue my trades in this blog, and those who want to see my struggles, my journey, give me some ideas or just wanna tell me I suck, you are all welcome to comment here. I am starting with 1500 in equity. I am not going to try to pay off my school loans in one year but my goal is to be consistent and try to figure out a way to slowly scale up my trades and maybe eventually be able to draw some money from the markets.
Let's see.
Daniel
May 4, 2019
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