Not much trading this week but Wednesday we finally snagged 2 nice trades and then today (Black Friday) we were stoked to snag another trading day.
Monday – lot’s of traveling, wanted to maybe snag a trade in the plane for fun but the wifi didn’t work (typical false advertising on these airlines)
Tuesday – trolling for tuna, we snagged a super nice one. I don’t have the picture here but check out my brother’s channel (South Florida Fishing Channel and Captain Dan’s channel (Florida Fishing Couple) Links in video description as well. The goal was to get a trade on the boat, we had solid wifi but I missed my entry by 1 cent. I was super cautious, super tired and had a few beers so probably better to leave that trade undone.
Wednesday we had a 7% morning day trading with 2 trades + a 3-hour drive from Key Largo to Vero.
Thursday – markets closed and biggg ole thanksgiving dinner.
Friday’s Trading Lessons Full Market Open Live Stream
- Aggressive market open limit order. First time making this mistake, I wanted the trade but usually, I’ll place a low limit order near MAJOR support and move it up as price action shows signs of a reversal. This time my limit order was executed in the first min without me being ready. This would have been a red to green pattern & winning trade.
- Poor account allocation due to funds transferring and Margin account not having Friday trades back due to Thanksgiving holiday. (This resulted in the looser trade being almost 3x as large as the winner trade, resulting in a small red day – could have been a green day)
- Didn’t check the limit order price which gave me an early entry. You can see right at 33:41 that I placed a limit order at 5.03 but then the trade went through at 5.43. In the order confirmation, I could have caught it but I didn’t notice it.
- I should have been checking for stocks breaking to the upside like $ASLN (which was on my watchlist) but somehow I missed it because I was too focused on my slow mover $WKHS.
Morning Panic / Red to Green reminders
Wait for whole numbers or .50 areas to crack and the sell-off to slow. That’s exactly what happened to $ASLN when we called the 4.95 reversal.