One lesson that has really resonated with me lately is the power of starting small. One of the bad habits I am working on breaking is starting too large of size prior to actual confirmation. Stocks with tremendous range do not actually require large size to produce large gains and I find I keep myself in trades when the size is smaller. Funny how that works?! Staying disciplined with this new strategy is proving itself within my winners and I am looking forward to seeing what this does to my win/loss ratio and subsequent size of winners relative to my losers.
Well, disappointing that it has been nearly a month since my last post! New goal to check in at least twice a week with my thoughts (putting it on my calendar so it happens!)
One important piece of improving my trading has been recognizing where and when my winners occur. I have had significant success in tickers that have consolidated after a morning run and are just slowly edging higher above VWAP in the afternoon session.
What an unreal last week and first month as a full time trader:
One of the many great things about earnings season are the possibility of shockers in a sector that causes a bit of a ripple effect. Last night LULU came out and greatly disappointed, resulting in a crushing drop overnight:
While in the IU chat room today, a biotech stock started going wild. Nate’s comment to the action made me shove away from my computer and just watch the action. The stock ripped up a buck and promptly stuffed for $2. Nate’s simple comment was “..yikes. No edge there”.
Closed out the week with an incredible 25% gain, largely due to the following plays:
Shew, what a week! Actually, what a last FEW weeks it has been for me: Regardless of how long you have been trading, it is always a learning process about the markets (and most importantly) understanding yourself as a trader. Here is where I am standing MTD:
S&P performance MTD: up 1.32%
My performance MTD: up 16%