We made it through September! So many questions.. Were you profitable? Did you learn anything new? Did you test? How about refine your strategy? Did anything “click”? Many questions about this month arise.
Well, first off. I decided to some time dedicated to studying. I glanced at the markets occasionally and traded late as I should have watched instead. When I watched, I should’ve traded. It was “that kind” of month. Luckily, since studying, I have been able to recognize better patterns. The only problem, these patterns do not come about every day, but when they do, excitement bursts out of control!!!! What happens next, I ruin some breakouts by hesitating, then when I see Tim’s alert that he bought the breakout, I felt proud that I am learning how to navigate the percent gainers and read the technicals of the chart patterns. So what did I do? I began to chase until executed. What happened because of that? I bought the tops. I broke the very rules that my guru and his students preach…. DO NOT FOLLOW TRADE ALERTS. I even thought of this as I was buying them… Is it still considered following trade alerts if I found the stock before I knew Tim was trading it? I would say YES! It affected my trading as a result of reading the alert instead of being confident in my new knowledge. Luckily, with these mistakes, I now have confidence in what setups to look for and that his teachings have been working when the right setup arises.
So how did my month turn out? Well, I am still paper trading. I ended up RED for the month of September. I made mistakes and that cost me. The trades that I did profit, weren’t worth more than $25.00. I am thankful for these experiences as it has shown me my weaknesses and my strengths.
I will be focusing on first green days with strong volume especially going into the closing market as I will be under the patterns day trader rule; I want to track if they lead to morning spikes the next day. This way I can properly plan real strategies when I become a trader with actual money.
I will be focusing on what I am learning from John Papa or Sublime Trades on Youtube. I like his take of reading the “lightning bolts”. Perhaps that would be great in aiding in my understanding of breakouts.
That leads me to my third patterns. Technical breakouts. I am focusing on this simple pattern as it allows me to clearly define my risk vs. reward and my entry and exit points.
My goals for this month is to stay disciplined and confident. I plan on applying these strategies for the month of October and review how well I am doing. Also, I will be studying continuously to improve and refine these amazing and simple strategies. Tim always says stick to simple, reliable, and only a few patterns. And THAT is exactly what I am trying to do.
Thank You all for reading my blog. I apologize this one is so short. I haven’t done much this month besides make a few mistakes and study. I wish you all the best of luck this month of October. Remember, if you are having any kind of trouble or uncertainty, you can Always paper trade on StocksToTrade. Test, Test, Test, Refine, Refine, Refine, Optimize, Optimize, Optimize!!!!!! See you next week!
I want to provide a small disclaimer:
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 2 month and a few days with paper trading on StocksToTrade. I am up +$1300 for the month of June 27th – September. 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.
Hello there, My Name is Tessa Lamping and
thanks again for reading my blog!