Updated: May 31
Hey there! May is in the books! This past month has been an absolute blast, to say the least! Only 14 trades this month. Low since I took the last two weeks off from trading. I am back! Today’s post is not going to be very long, but there are a few things that I want to get off my mind. Let’s dive right in! June is right around the corner! BTW if anyone reads this June 4 is my 21st birthday!
Trading wise I did end up negative on the month, but that is fine. I am still testing out where I’m most comfortable. People always ask me, tell me the magic formula in the stock market. In reality, there is none. There is no magic formula, it’s just boring old habits. Now, what do I mean by that? Understand that you do not have to over complicate trading. Find what your best at, and exploit that area until you are ready to expand on different strategies. Some trades are better-going long than short and vice verses. This game is not an exact science as my Guru Timothy Sykes often says. It’s true! Finding your personality takes time, but most importantly failure. Almost every successful trader that I have met overcame adversity in their early stages of their trading career. The goal is too not let the losses take you out of the game, along with the right mindset. Most people ignore losses. That is a big mistake in my opinion. Losses are tuition on Wall Street. There exist for you to learn from so that you can learn what NOT to do next time! Now I’m not saying to ignore your winners, but treat them both as vital in your learning. Am I upset that I finished down this month? No! I mean it’s only a lousy $-396.71. That is not life-changing! What is more compelling is that my May PFE was- ( May PFE= $1,772 ). What does that mean? This is the maximum interim profit during the trade. Usually referred to as Maximum Favorable Excursion (MFE), and sometimes referred to as run up. There has been one common theme that I am seeing in my trades! I am not locking in gains! I am not paying myself into the washes! This past week alone, I left 300+ of profits on the table, because I was greedy! That is not how to trade! Aim small miss small! Small gains add up over time! I do feel more comfortable with Short Selling. Again focus on your personality! That does not mean that I don’t go long, as a Trader you need to be flexible! Another common theme is that I have been outside my risk level! My risk has been well respected this month, only two losses that got out of hand. I know what I did wrong, and I’ll learn from them. I do feel confident about going in June. So what is the game-plan for June? Respecting risk is a top priority. Of course, I will still be working at Black’s BBQ. No big deal, I just have to be flexible. I am going to be risking $120 on avg per trade. Focus on trades that are the most volatile. Going Long ideally OTC has been on fire along with listed stocks. Shorting I have been great at spotting Over-Extensions, but I do not intend to short on the first green day of the move unless their set-up is there. That’s it. Please make sure to Checkout the May recap in the Video Archives section, it’s finally up and running! One more note. I finally have a YouTube channel up and running. There I will be posting most of my live footage. Like the one below of a nice morning panic on $TLSS. See you soon!
Curiosity Trader ™ has been an absolute wonder so far. I know that nobody really knows who I am. One day they will. This website was built around the idea of networking with traders. Whether you are profitable or not we can each learn something from one another!
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