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Showing content with the highest reputation on 02/12/2019 in all areas

  1. 1 point
    It’s all about psychology. there is a Macro Psychology angle and a Micro one when in a trade we are focused on Micro. Honor stops, take profits early and often. Don’t over trade, don’t revenge trade etc. walk away when we hit max loss. Very difficult right?, but now think of the macro angle. Being green on a day regardless how small, having more winning days than losers. Accepting managed losing days as cost of business. Even if you make 6% a month you compound and double your money in a year. Think of the Macro angle. If at the end of the week. You only made 1.5% so you are on target. How good would you feel?, on the other hand, if you screw up on micro level regularily, how does that make you feel? When executing on micro keep macro in mind and you should be fine. Focus on that feeling at the end of the week.
  2. 1 point
    I have been there. Some more advice. Put in a plan. Start with simm but have a plan to go live let’s say in 6 months. Start small - 50, 100 shares. The main thing is psychology. Are you overtrading, revenge trading, fomo? Uploading your trades to a platform like tradervu is priceless. Review and find errors. Work on one fix at a time. Is it entries?, honoring stops?, scaled exits? One thing you master in simm at a time. Figure out what setups are working and which ones are not start taking your a setups and go bigger in size eventually. Figure out what time of day, what type of stock. Essentially where your edge is . Finally don’t set a time limit or $$$ target. Give yourself time. It took me a year before I even reached some semblance of consistency and I am still working at it. Y a year I mean one strategy like Andrews trades not jumping around crypto, forex futures etc. finally have fun. You have to love this whole Thing, else it won’t click.
  3. 1 point
    Hi Mike, Good to read that you did the same. With us probably thousands and thousands others :-). Thanks for your advices. It makes me think about which way to go! Happily I have two more months before I plan to go live. How are your trades going now, compared with before? With jumping in and out I usually end up a bit in the green, but the commissions eat me up haha
  4. 1 point
    Nas' Just saw this post. I checked the prices on the three stocks you mentioned Nov 13, and it would have been a nice win if even shares were applied to all three. BBBY+1.31, NTLA-4.82, BECN+6.63. (according to finviz this morning) 312 bucks on a 5963 investment given 100 shares on each stock. Better than 5% as of today! (I think my math is correct). I really liked your strategy on these. Do you think you would have held the swing that long? I've held a lot longer on trades and done a lot worse. lol! Great post! Regards, Stuart
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