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!)
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.
I’ve been taking this amazing program, Mastering the Markets,
to learn how to trade the stock market,to learn what it’s about, to get to a point of understanding it.
I know how hard you work to earn a living. Slaving away from 9 to 5 barely getting ahead, and making someone else rich in the process. It sucks. If you’re here in NYC with me you are getting jammed into a train or bus during rush hour and getting way to close to other folks that are aromatic…
Consider giving up the commute… check out the Mastermind Traders website
, and see what you think. You don’t have to be a stock market wiz with a Bachelors of Finance to trade. Just regular guys and gals like you and I can do this. And best yet, you don’t even have to quite your day job! Well, just not yet…d
To find out more, attend this FREE webinar, Feb 4/16 @ 9pm EST