30th Full day of trading. Never traded more than 100 shares today. 1530 shares total volume. There is potential with trading smaller size on bigger movers. Today was just about making my own trades. For the most part was able to avoid: The news Facebook A new distracting scanner ET (sorry) All four I have identified as having a negative effect during the day. All four can have their place off hours. By eliminating these, I was more at peace today.
31st Full day of trading. Wasn't 100% proficient on the four points above but a heavy reduction at least. Keeping TSLA on watch tomorrow. This week and next, earnings reports. Let's see some volatility in some stocks. Meanwhile, redesigning my trading strategy.
Time for an ET hiatus. (cue the 'he's never coming back' chant) ET is a great benefit as a resource. Any downsides, I'm sure you can come up with on your own. Anticipated random return date: July 21st. (Year withheld) Love and peace, Very random dude on the internet.
As promised. Today is July 21st. Since April, my strategy has changed tremendously. I do overnights and some options activity. This market is weird though...in a good way. As for ET, maybe I can do weekend updates. A recap of the week.
Back on the weekend. Not the kind of week I wanted to have. Definitely was a character building one. Got a 3rd monitor (32" Samsung curved) and I think I'll keep it to that many for now. I have a forth just there doing nothing because it's too much head rotation to look that far over. I would need some monitor stacking. I'll leave that for 2021. Am liking the setup...even though I could use a few extra monitors for charts...but risk overwhelm. I have Trade Ideas but have not been able to configure it how I would like. I may just cancel it. Been in discussion with a different platform provider. I will look to set up a small account with them to test it out. Would likely keep 2 accounts going. It's a heat wave here and I find it challenging to do much in the heat. I've picked up a second fan to help. Onto quality setups for next week. Trading the process.
Could you post a picture of how the monitor setup looks like? What size are the other 2 monitors? How many charts do you fit onto a 32"? Because i am looking for a new monitor. 4 charts are fine on 24" and even 21". But i want to have 6 charts on the same monitor, and i am not sure to get a 27"/28" or a 32".
Sure, I'll grab a pic and post. All 3 monitors are the same. Samsung 32" curved. I love them. I don't have any one fully dedicated to charts, they are kind of scattered. Something I can work on. That is where extra monitors stacked could come in handy. Dedicated to charts of stocks that are of interest but not on the forefront.
Last week of the month. It was a roller coaster. In the end it worked out but not the type of week I would prefer. Plenty of observations, notes and learning this week. I'll take that over gains. It was a solid month despite 9 negative days. That to me is too many red days. It should be closer to the 2-3 red days. Clearly the green days were better than the red days. On red days, the goal is simply to trade correctly and try to minimize the severity of the loss. I made a LOT of changes during the month, from my set-up to services that I use. At one point, I got overwhelmed and had to cut everything back. Now I feel in a better place. I will test out a new platform which should provide lower fees, and that can help tremendously over the long term. August will be to finalize some services and more testing on strategies under development. It will be a lot of work, but I enjoy the process.
Looks like I missed a week of updates. Busy with the day job and trying to juggle trading has been, to be blunt - exhausting. Still making progress on a regular basis. Starting doing swings in a tax-free savings account (Canada). I like the idea a lot. Watch the market go into freefall mode now. More than anything I need to protect my energy levels. Trading tired = poor decisions = pointless losses. It's extremely easy for someone to blowup their account. Having awareness of one's own emotions, mental states, physical states, surroundings, level of focus, all are super important. That's probably 85% of trading. Most talk about some fantastic indicators. I am planning on leaving my day job in Q1 of 2021. The problem is that this market is not normal. It is very hard to extrapolate into the future. My fear, of course, would be a market shift into dead, low volatility for extended periods. I'll collect more data over the next couple months.
Rough week, barely scratched green. Really due to one horrendous day. Too big, too loose, adding to position, all contributed to the losses. This week I will get back to my style of trading. I was also jumping on trades that clearly were not my own and not within my zone of preference. I was also focused on the PNL too much. Get back to checking just at the end of the day...or perhaps try going all Sept without checking. I think I will do that. The idea is to fully focus on the process, as the numbers are pretty irrelevant. Will be changing brokers soon. I foresee it taking until 2021 before I have everything set up how I would like, system-wise, services, etc. It's a continual work in progress.