Stop Limit is My Friend
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.
Learn to Trade: Master the Markets
Options Trading: TastyWorks ( $1 commission )
Stock Trading: RobinHood
(get 1 free share of stock for signing up without even funding!)
Crypto Coins, Blockchains and a Unified Planet
I am watching my world change in a new direction. The world banks grip on the planet monetary systems is being challenged and at the same time the possibility for unadulterated data has been presented.
At a time when information is faked more often than real, blockchain technology presents a way to keep data integrity not just in money transactions but in medical records, identification, and data storage.
Having a currency backed by nothing has been the norm for some time. Having a currency that can transcend and encompass all countries on the planet, now that gets my attention. To survive as a species, coming to a place where we no longer break out into groups, be they by nationality or ethnic origin, to fight each other would be ideal. Crypto coins and blockchain technology could be the icebreaker we need to move us in that direction and into a brighter future.
I will be adding the ability to accept payments in Crypto coins soon to my Travel with Evelyn site. In the mean time Coinbase is a good place to buy or sell crypto coins and you can use this Public Key (3CC9WoR42o4A9UrEXoq8BREPNxQY9RkYEB) to make payments in Bitcoin till the payment page is set up.
Crypto Coin Resources
Quotes & Resources: CryptoCompare.com
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.