The sleeping schedule is something that I need to improve to ensure that I'm nailing the best morning entries.
But that said, I was super happy to see one of my top 3 picks on my watch list see 45% gains and settling at the EOD with 33% gains. I could have entered after the ticker had already reached 20% gains in the morning, but I didn't like the idea of chasing because I've been burned by that so many times.
Instead I continued to watch the chart and see how it played out. It was a great lesson and reassuring to see how the chart and the indicators reacted.
Here's a screenshot and some notes on what would have been the perfect trade:
Welcome to my blog. A lot has changed since I started this thing. I'm now trading live after about a year of paper trading and studying. Originally I had planned on starting part time and slowly growing my account but life has a funny way of changing your plans. I found myself at a crossroads of sorts and quickly realized that I was being given a once in a lifetime opportunity to pursue my goals. I took the leap and I'm not looking back. Follow me here and see the triumphs and the losses.
I tend to look for momentum trades that I can hold for anywhere from a few hours to a few days. I usually take positions of $5k to $10k in size to allow larger gains on smaller percentages (it's easier to hit a 1% to 5% gain vs a 10% to 20%+ gainer) and I like to use a trailing stop.
This blog is a way for me to log my progress and to aid me in learning, I hope that you find it useful. Financial freedom isn't given, it is earned. So plant the seeds of education and grow your pennies!