How are all of you? Did you make the best of your weekend and study like crazy? Good! I just realized with this blog that you may not be experiencing everything provided if you are using the mobile version. Make sure to click the Web Version and check out my profit chart, how to follow me on social media, links for profit.ly , and other goodies!
Plans for 2020
I know a lot of people have been asking me when I will be going live. Well, I have opened up an E*Trade cash account. It is currently funded with $2k and I will be adding another $500 in a couple months before I begin live trading. I plan on trading with the $500 and using the $2k as a savings basically. I do not plan on trading with that base $2k but rather keeping it as a safety net. StocksToTrade is my platform and I’m using their special feature for broker integration. I will not be shorting so a margin account is unnecessary and I do NOT use leverage. Nor will I ever use Leverage. Never risk more money than you are willing to lose.
For all of you following my journey, I thank you. I look forward to comparing the accuracy of paper trading with StocksToTrade versus trading with the broker integration in future blogs. As of now the patterns I will be trading are First Green Days, Morning Spikes, Morning Panic Dip Buys, and Breakouts. These are my bread and butter patterns and you can see all of my trades if you follow me on Profit.ly. Make sure to leave me comments about your favorite patterns!
(An American Hedgefund by Timothy Sykes, Dark Photos are My Trades on StocksToTrade)
Some have asked me about videos, watchlists, and if I post current positions on Profit.ly. More than likely, I won’t be doing videos unless it’s near market close. It is very tricky with my kiddo as I am paying attention to him and am not always able to dedicate my full attention to recording. Also, I have to research into how to even make videos for Youtube or Profit.ly as I don’t have a microphone other than what is built into my laptop. That might come way down the line after I have crossed $100k. We will see so make sure to keep updated on my journey as this may change! As for watchlists, I don’t see why I can’t post my watchlists in the morning. I will have to try this and it will need to be improved upon as I gain more experience doing that as well. I will post my Live Account watchlists in the morning. This watchlist will include stocks I am watching from the previous night, how I want them to perform and this will also include the stocks I am watching premarket the morning of the watchlist being uploaded and my plans for each stock. I will do my best to stay consistent. Forgive me if some days are missing as it depends on my wifi and my kid. Lastly, I will post current positions on Profit.ly for stocks that I am holding over night. On Profit.ly there is the option to post open trades that I will test out and see how it works. You’ll have to give me some leeway as I am going to be trying new things to track this Live Account. Make sure to find me on Profit.ly under Tessa Lamping!
Tips and Tricks
For Valentine’s Day my mom bought me An American Hedgefund by Timothy Sykes. I highly recommend every trader read this book. You can find it on Amazon. Included in this book is how Tim became successful as a Penny Stock trader before he graduated college, became a hedgefund, and the lessons he has learned over the years. Behind this book is a bunch of charts I have taken screen shots of using StocksToTrade and I have printed out. The white images are from Google. I like to compare a lot of charts and create my own poster boards to study and track patterns, when to buy, sell, hold, etc. This continues to be a very helpful tool I use when trading. You can find a lot of my favorite patterns on Google Images. This could be a helpful tool for you as well if you are trying to understand First Green Days, Morning Panic Dip Buys, Candlestick Charting, Breakouts, etc.
My schedule is based on Eastern Standard Time as much as I possibly can. My Typical Day is as follows:
- 5:30am (I live on the West Coast) equals 8:30am EST – Wake Up. Search Social Media for roughly 10-15 minutes as I am turning on StocksToTrade and my eyes are watering and trying to stay awake.
- 5:40am = 8:40am EST – Check my scans/top % gainers/ new high of days for potential morning panic stocks/breakouts/morning spikes to combine with my market close watchlist from day before (I do this continuously throughout the day but I like to have an idea of my stock plans no later than 6:15am = 9:15am EST)
- 5:50am = 8:50am EST – Check Profiding for Tim’s Stream. Did he post a new video (I try to watch them without waking my kid up but sometimes I end up watching these in the afternoon) I also check out his watchlist to see if I have stocks that match and if I have formed a similar plan. This allows me to feel like I am on the right track when studying patterns and charts.
- 6am = 9am EST – If I am holding a stock overnight I have my sell typed in and ready to confirm for market open. I want to lock in profits or cut losses quickly.
- 6:10am to 6:28am = 9:10am to 9:28am EST – I am double checking my horizontal lines to show potential breakouts, support, resistance levels and possibly typing in my orders to prepare for market open if the stocks reach my planned entrance points.
- 6:30am = 9:30am EST – I am focused on my stock from the night before to make sure I exit. Then I am watching the tabs to see if my other stocks are performing as planned. I focus on those until about 8:30am = 11:30am EST.
- 8:30am = 11:30am EST – my kid is typically waking up (if I am lucky he slept in that long) and I make sure to get him up and going.
- Sometimes 10am but usually 11:45am = 1pm EST but usually 2:45pm EST – I start scanning for my market close stocks until 1pm or 4pm EST for the stock I plan on holding overnight. I like to take photos of the stocks I have traded that day in order to post them to Profit.ly so I don’t forget.
- 12:30 or 3:45pm EST – I like to take my overnight positions if I can find a dip into a strong close on my favorite First Green Days. Otherwise, I keep my tabs open on stocks I am watching and then tomorrow repeats.
- During the time I am spending time with my kid during market open I have video lessons playing in the background or I study during naptime which varies and usually lasts about 2 hours.
- After market close I like to take my kid out of the house for a couple hours then we come back for some food and a nap where I study again before I have class in the evening or I miss class and I work evenings.
- 9pm or Midnight EST – I try to go to bed. I play video lessons until I fall asleep.
- Weekends are about the same if I can but instead of market hours I spend time with my grandparents and get homework/term projects/ midterms/ and finals completed in between studying stocks and helping my grandparents with their projects.
- Studying is a 24/7 thing for me as I am always talking stocks or reading something on my phone/book.
Make sure to stay safe since January is over and I believe that may include the “January Affect”. Always remember that CASH IS A POSITION! If you need to work on discipline, then watch your favorite stocks for the week, create your plans, and just watch how they perform. Track your stats and gain a structure to your over trading. Trends change and you must learn to adapt in order to stay in this game of You vs. You.
Sorry for such a short post. I did this during class. Hopefully this has helped you understand my routine and how I am constantly studying and trying to adapt to my surroundings. Thank you all for following me on my journey and make sure to follow me on Twitter, Instagram, and type your email into my subscription box so you get alerted when I come out with new blog posts! Leave me a comment on how you study, your favorite patterns, and how you manage to fit studying into your life! I look forward to reading your comments. Thanks again for following my journey and I look forward to documenting it even better!
I am in NO way a professional nor do I claim to be. I do not manage anyone’s money nor do I want you to follow my trades. My posts are solely for entertainment purposes and for myself to become more transparent on my trading journey. I use these posts to track my own progress. I do NOT recommend you try my strategy or jump into trading without a verified guru/teacher. I am an untrained trader who has been practicing for a few months and a few days with paper trading on StocksToTrade. I am up $7000+ since the month of June 27th, 2019. By the time you read this I may or may not have traded the stocks I post about. I will not guarantee you will profit from trading as 90% of traders lose. To become consistently profitable is not a typical result. I am in NO way responsible or liable for your decisions or actions as a trader. I, again, am not professional so there will be grammar and spelling errors. Just because I suggest something does not mean your results will be the same as mine if you try. My suggestions are what I am doing, have tried, and what may have or may have not worked for me. Also, make sure not to invest with anything you are not willing to lose, Cheers!