Love that you're posting the chart. As they say, a picture is worth a thousand words and this gives a good idea of what you're doing. That long on MRNA at 0745 looks to have been the one that started eating away at your gains. I always find it a bitch to take a trade at pretty much the halfway point of the high and low. It can literally go either way, and the stops are always huge if you consider a test of the high or low is possible. Anyway, it was interesting how you're working the trades. Thanks for posting the chart.
8/20 -$1,177 For the week: +$1,977 Balance: $36,498 Was running on 2 hours of sleep. When I realized I should really pay more attention, I was down $1,300. MRNA all day. Today was a big disaster. I wouldn't have been surprised if I was down a lot more because nothing worked for me today. I called the directions correct but got the level of movements completely wrong. I would go to a big negative, swing it to break even and if I stayed in I woulda won big but I thought it would reverse again so I switch my positions, and go back into a bigger negative, than try to breakeven and on and on. MRNA's volume was really low compared to other days and I really feel like it was trying to fall yet someone was propping it up. I really felt like this was forced. Of course I could have traded better and go easier on my positions, yet man MRNA just moved weird today. Very disappointing finish to the week and also to my trading self. A problem I need to really fix if I want to become rich from daytrading.
8/23 +$2,822 Balance: $39,320 I have a weird sleeping schedule. I woke up late at night and just stayed awake until the market opens. I was checking out Natural Gas and it looked like an opportunity. Now I try not to trade anything overnight because 1. it is super hard to predict 2. I have a history of losing big. Yet it just seemed like a good opportunity so I went in. Made money. Went in and out multiple times and made money on all of them. I shoulda went big but i didn't because I was scared .. but the trades went so well both ways that I made almost $1600 before the markets even opened. This may seem a lot but if I went big, I think I could have made like $6000 because the trades were just going the way I expected. So compared to what I could have made, I don't think I made a lot. During the day, played around with MRNA. Scalping. I feel like it won't have any significant movement rest of today so just going to call it a day. Have some errands to do so will take care of those right now, eat some lunch, and get some sleep. 3 weeks in and finally making profit from the start of my journal. The $10K loss on the first week really hit me hard but I recovered from it and now I'm up $2,919. Yay!
UPDATE:: 8/23 +$3,056 Balance: $39,554 UPDATE:: Came back from doing errands. Thought I saw an opportunity and went in. I'm afraid it might reverse on me so I exited and now im going to sleep.
8/24 +$3,161 Balance: $42,715 MRNA is good stock to daytrade because it has a lot of volume and it fluctuates a lot each day. Played around with MRNA today. Trades went really well since start of day and I was just killing it. I was looking for a bounce play (near 7:45am) and misread the chart. Almost lost 1K of gains. I keep looking for the bounce play but it just isn't coming. If it doesn't go up, than the chart will go further down. I really feel like MRNA wants to go higher but someone is pushing it down. I enter to make money and start losing it, only to exit at almost breakeven; go in again and lose money, than exit at almost breakeven, so I'm just going to call it a day today. Either my luck ran out or I'm doing a bad job reading the chart or both.
You’re are doing good, I figured you would! I am not really sure why you wanted to try Futures when you are a great stock trader. How much risk you using on MRNA?
I switched to futures because i wanted unlimited daytrading and couldnt do that with stocks due to the PDT rule. As for risk, i go big if i feel confident on a trade and do small positions if im unsure. I often go all in. Thats why my daily winnings have been around 8% the last two days. Also why i occasionally have really big losing days.
Well, at least you followed your plan, albeit in a haphazard way. You tried to use futures to get your balance above 25K so you could avoid PDT. At least you were able to do it with stocks. Kudos. Now STAY AWAY FROM NG! (And DEFINITELY stay away from RB and HO. Those dogs are rabid and running wild. 1000-tick movements yesterday? Whew!) lol
Fine wisdom without paying someone $300 a month for a chat. Maybe Overnight might bill you later when you hit $300,000 in Dec!