I love day trading! I am that last minute person that loves the thrill.
I have finally gotten to the point where I can see the candlestick patterns and I guess there is some level of intuition about the direction of the trade. I can see the trade will be good in the direction chosen. I find I hesitate getting in. As in driving, hesitation can be deadly. Once I am in the trade…. well getting out is another emotional swing.
Some where in my brain is this thought that “its just retracement” but often, it really is a new direction. and I should have been out.
I am using TastyWorks for my live trades these days along with the OptionsHouse platform on Etrade. I am still learning the TastyWorks desktop platform so most of my research is done on the OptionsHouse platform. I love the low commission and fees, but there are just too many buttons to press to get into and out of day trades fast.
On OptionsHouse I can use OCO orders but TastyWorks does not have these. It does however have a Stop Limit order that is different than on other platforms. I can select my stop trigger and set a limit order for my stop exit! I have been testing using this as a manual trailing stop, adjusting it up as the trade moves. This has in fact worked quite well for me. I have not been able to get out fast enough on a direction change so this acts like a safety netting for me to keep profits.
Four years ago none of this would have made any sense to me. I had no knowledge of the stock market, options or what was involved in trading. The Master The Markets course I took back then has turned out to be a really good investment. As Dani Johnson pointed out, investing in my self, in my personal development, always pays back.
Now, if the S&P 500 would pick some direction. Its been in a channeling flag pattern for months. Lets see if it stays above the 100 MA this time.
After a year of studying the options trading and paper trading for the last 6 months. I am finding that like so many others things I have gotten into, me not following directions is a real problem.
There was a time when I could indeed follow directions exactly as given. Somewhere along the way I stopped doing that. Improvising, adjusting and modifying became the new way to do things. For some things this is great, like modifying recipes to make then vegetarian or vegan. But for business and mentorship relationships this has become a real problem.
I am acting like I know better when I am in fact the amateur. I came fro training and instead I am making the rules.
Almost all of my failed real money trades fall into the category of behavior. So do my previous home business attempts where I was joining an already existing business.
I need to get out of my way.
I know how to do that, I do it all the the time for successful healing sessions, channeling and meditations.
But when it comes to money I seem to be unable to follow the rules.
In grades school, many decades ago, My best friend Anna was given stock in a company as a birthday gift from her parents. She proudly showed us the stock certificate.
Wow, how cool is that! she can own a piece of a company?
This year, some 40 years later, has been the year to learn the market, to buy stock and trade options.
My parents never did any of these things, there was no on in my family to teach me these things. Mom showed me how to use the mattress to save money, LOL. Other than just knowing the words I had no idea what it was all really about.
I want to thank Peak Potentials for offering the course “Master the Markets” and Carl Johnson for being such an awesome teacher! A teacher I could understand and follow when I was coming from total zero knowledge of the subject.
It’s been like learning a foreign language. I have a friend who would ask me questions. Earlier this year I did not yet feel comfortable with the language. I would let him talk and I would do most of the listening. Then, just a few days ago over New Years Eve dinner, I found I felt confident and willing to talk about what I knew and what I did. It felt really awesome.
Now, I am learning to the manage the emotional part of the game. I can read the candle sticks and the indicators and use the stock screener. But paper and real money are two different games emotionally.
The goal is intraday trading. It’s so exciting! but right now I suck at it.
Turns out I really love Options Trading. I can spend the whole day at it. Like software engineering, where I just wanted to do “one more compile”, I am very happily addicted to trading.
Its a really good place to be, when what you love to do, can earn you some money. I got the love part down, now for some money.
Do what you love… the money will follow
I used to have a black thumb. I could kill any plant. Many of my mom’s plants where a victim of this black thumb.
Then in the late 1990’s I signed up to be a Garden Guide at the Brooklyn Botanic Garden and was required to take 6 months of training that were equivalent to college level botany.For me that really helped. It also reconnected me to an event in my childhood.
We were in class learning about soil and how to not call it dirt. I got my hands in it, and remembered being a little girl in 1st grade planting in the schools garden program and how I loved it. I loved the feel of the soil and the smell of the soil.
I laughed as I remembered the high school test to determine what we would be happiest doing. My test results said I should work on a farm! I had been outraged at the test results. I wanted to major in Math, in geometry. I wanted to map the world and every object in it. But yeah, soil, felt so, so good.
I loved numbers, I loved soil and I was about to learn to love plants. There was a scene in the movie POWDER , (I own it on laser disc), where the trees in the entire forest are described as being one single plant, living and breathing. That scene stayed with me. The connectedness of life astounded me. It was a reminder of how things really are that has been forgotten.
But I’m a city gal! born and raised in Manhattan. Central Park was my only source of green. And then I went to Convocation in 1993 and visited Lake Shrine and Mother Center and Encinitas. I came back every single year for 14 years in a row. The trips got longer from 1 week to 3 weeks at a time. La Joya was a treat on one of the years as was Hidden Valley in Escondido.
The Coastal Vacations Travel membership, which I got so I could work from home, had been appealing because being out in nature, traveling out of NYC was indeed what I wanted to do. I had gone to Puerto Rico a few times by then and I loved it there. My mom had been spending the entire winter there, only returning to NYC in the spring. What a great way to live!
But I am still in NYC, and I have no outdoor garden space. But I do love soil and plants and I have a love affair with seeds.
I eat it, I like it , I plant it.
Yeah that is pretty much how I have been. My window sill is a testament to that.
The Avocado, Mango, Date Palm, Lemon, Lychee, Clementine were all started from seed. And yes I know it will be 5 plus years to get fruit, but I would have had fruit already if the ones from 2009 had not died in the frost in the Poconos.
Lenny makes compost, and I plant seeds. It’s a great combination.