New Journal

0309-0311

After getting chopped around on Wed/Thu finally got some trades working today. Really thought the loss on 9th would be greater. Got saved by a couple of good trades.

Got a 35+ runner today. Making fewer mistakes and sticking to the plan.

None of the swing trades working. Anything held overnight gets stopped out

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0331
The losses continue after the break. Lost $700 in March, after being up almost $2000 first 10 days. Almost all the losses due to swing trading. Will keep learning and refining the process -

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A few lessons learnt over the last year -
  • I just cannot make much day trading. Just when I think a pattern is working, it stops working. There are successful day traders, just not me
  • Hindsight is 20/20, but I have noticed more often than not if you buy a valid pattern at the upper right side of a chart (has to be making new highs) and short at at the lower right side (has to be making new lows), its possible to get runners that can make up for many losses and more
  • When they breakout, you don't need much of a stop. They take off and never look back.
  • For me to be successful at swing trading I need to learn to hold on for as long as I can before they start breaking. This is the key for me.
  • I do a lot of bad trades, but also get into some super movers. If I can just learn to hold
  • Lot of traders have trouble taking a loss. Luckily for me I never hesitate when a stop loss is hit
 
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