Hello Mr Morgan
Just looking at your entries and exits and then comparing them to your charts I can see some mistakes in your trading and psychology. The good thing is that your are starting with stocks so your losses will be minimal as long as your position is not too large. Now I have never been one to criticize without offering a solution.
1. One solution is to slow down. Slow your trading down with maybe some swing trading which in turn will slow down your mind. This will also minimize your commissions as well. With 12.95 each way you will need to make 26.00 on each trade before you start winning whether you are right about the trade or not. That is hard to do trading small lots in a day trading setting but not so much with a 2-5 day swing trade.
2. Study some more: I am attaching a link that has some free videos with good sound strategies that are easy to set up. Using his main strategy (the bow tie) and looking at your chart you will notice very quickly where your mistakes have been in your entry / exit. The videos are made from Dave Landry and he offers a free newsletter service with his morning Market in a Minute video. Every day for free. I would also suggest reading any of his books. Here is the link: http://www.tigersharktrading.com/ar...-Trends-with-the-Bow-Ties-Strategy/Page1.html
I wish you all the best and hope that you will continue studying. And in case it comes up I am not involved with Dave Landry in any way. I just think his simple strategies might help. I also like Larry Connors, Kevin Haggerty and Charles Kirk, to name a few other great swing traders.
Take care and good trading,
Gary
Just looking at your entries and exits and then comparing them to your charts I can see some mistakes in your trading and psychology. The good thing is that your are starting with stocks so your losses will be minimal as long as your position is not too large. Now I have never been one to criticize without offering a solution.
1. One solution is to slow down. Slow your trading down with maybe some swing trading which in turn will slow down your mind. This will also minimize your commissions as well. With 12.95 each way you will need to make 26.00 on each trade before you start winning whether you are right about the trade or not. That is hard to do trading small lots in a day trading setting but not so much with a 2-5 day swing trade.
2. Study some more: I am attaching a link that has some free videos with good sound strategies that are easy to set up. Using his main strategy (the bow tie) and looking at your chart you will notice very quickly where your mistakes have been in your entry / exit. The videos are made from Dave Landry and he offers a free newsletter service with his morning Market in a Minute video. Every day for free. I would also suggest reading any of his books. Here is the link: http://www.tigersharktrading.com/ar...-Trends-with-the-Bow-Ties-Strategy/Page1.html
I wish you all the best and hope that you will continue studying. And in case it comes up I am not involved with Dave Landry in any way. I just think his simple strategies might help. I also like Larry Connors, Kevin Haggerty and Charles Kirk, to name a few other great swing traders.
Take care and good trading,
Gary
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