Today is the first day of the rest of my life!
I traded small to get used to the clicking and buttons and the order fills and the what-nots of it all. I was trained on this system back in September for two weeks. I’m familiar but not comfortable yet… first day and all.I’m trading with the new, full blown, big buying power account – $80,000 for trading with a 75% profit split and low, low, low commissions… just as low as my old broker with plus, plus, plus… I’ll get to all the plus(s) later.
First trade was $ROKU with 100 shares at —- looking for $0.50 cents. Got it with Arick’s help and fibs. They are amazing when you set them correctly!
I’m green and a little surprised, I might say. I seldom believe anything in this day trading business is easy. I’m not saying this trade was easy by any means. I will say I had better clarity on the play and call itself.
AJ’s notes were specific with a call to short the gap fill before going long.
With my new platform I have the opportunity for shorting stocks. This is something that I have absolutely no experience doing but from what I have studied it is just the same as going long – wait for the setup. I’ll play shorts with news mostly.
As I write this post at 3pm San Antonio time, I am listening to one of Arick’s recorded classes… there’s really no down time in this business.
My daily goal is to continuously develop my own strategy. The three trades I took today I don’t believe I had an “edge” so-to-speak. I was confident the trades had a solid risk vs. reward with room to the upside since I went long on all trades.
Next up $MARK for a loss. I was late and chased from AJ’s short gap fill, bottom curl long call. I should have had $MARK up on my main screen since I was excited to see it in the pre-market notes but I was fumbling a bit with my monitor setup… I need to figure out a better way to see more on my monitor setups.
$MARK was a $29 loss from $9.56 with 100 shares. Should have had this ticker at $8.50 from AJ’s notes. Still learning here so I’m not disappointed because I set my stop loss so I knew my risk and was willing to take it.
Make a note here on $MARK… this stock has not held it’s highs as strongly as other blockchain/bitcoin plays. It maybe trying to find it’s base but certainly not a runner. This morning’s news was based on a firm taking a $10 million stake at $12… I don’t see how that is possible but that’s what was posted in chat, not in the notes.
After taking this loss I was befuddled with myself. I do have a high expectation for myself with success in this business and every red trade pisses me off… I’m not sure if that’s a good thing or bad thing yet.
Of course I had $LFIN popping on Trade Idea’s scanners and while I have scanners, Awesome Calls chat and a chart on one monitor, I had my other charts on my other monitor. I have two 32 inch monitors and my laptop. I’m adding a small 24 inch monitor tomorrow.
At this point, I knew there was really no stopping $LFIN. I looked and started to message Spartan on what he saw but he was obviously inundated with the same questions… so he posted the next level up with a $60 target. I got in at $57.40 and sold right at $60 in 49 seconds – biggest trade with the smallest size in my experience so far.
I was completely spent from just 30 minutes and 3 seconds of total trading so I shut everything down at that point!
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