What a week of trading. So much fun and learned a lot. I also appreciate everyone that tunes into the live stream or just watches the playback of the watch list and morning day trade live streams. It’s not just good fun to have you but also shows me you are serious about improving your trading and growing your accounts. Those are the types of people I want to be around.
Reviewing my past trades of this week I’ve definitely realized that I was profitable for almost all of my trades at one point. So is my stop loss too aggressive or am I just not taking profits quick enough?
I actually don’t think I’m doing anything wrong. My biggest hurdle seems to be the fact that I’m limited by the amount I can trade and that messes my trading psychology up. Since I only have 3-day trades per account per 5 business days due to the PTD rules.
(That’s why I have 2 accounts and now just opened a 3rd at the “new” Webull Broker.) I also learned that cash accounts are not under the PTD rule. I’ll talk about that in Monday’s video so make sure to subscribe and click the bell icon so you won’t miss it!
I’ve been really playing it too conservative during the market open and then try to squeeze a last-minute trade-in where the bounce is weak and then closing out the position when the vol fades and price consolidates.
Late day aggression is not good and I usually end up with a slow mover/bounce that fakes me out. I need to have my 1-3 picks ready and memorized, get a tad bit more aggressive in that first 15 min after that the market usually finds it’s placed and starts waddling into a direction as volume dies off.
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Until next time,
Stay safe and make some awesome trades!