Sigh, more i learn bout the stock market (OTC).. The less love i have for Capitalism.. anyways, i gotta make sure i don't lose focus and the main goal here is education/profits..
Mentor#1: Timothy Sykes "TimSykes"
Mentor#2: Tim Grittani "kroyrunner"
http://tradetheticker.blogspot.jp/
Mentor#3: Nathan Michaud "InvestorsLive"
Gregg Sciabica "lx21"
Bao "Modernrock"
http://tradelikerock.blogspot.jp/
Derriick Leon
http://derricktrades.blogspot.jp/
#NasdaqCowboy
Burned out pretty good since july 13-14ish... sheesh i did have a surgery on the 16th but even then i was alrdy burnt out prior to the surgery. Being physically/mentally fit is a must when stock trading, I can't stress that enough and will make it a priority in being in tiptop shape from now on.. Been slowly remotivated and hitting up webinars/lessons/blogs to get some progress in.
I've been seeing different trade styles / strategies the more i get to know top profitable traders. I am slowly taking bits of pieces that i like from them and slowly creating my own personal style of trading. They all have similarities with one another and the one's i'm really gonna take to heart is.
1) Have a thesis prior to the trade
2) Cut losses quick if it's not going your way
3) Trade the ticker (Tim Grittani/Nathan Michaud slowly veering of T.Sykes style)
4) Patience is key; Aim small, miss small; More is less, less is more; It's okay not to trade
From Derrick Leon's Blog:
Element 1) Patience
Lately it's been about patience and having the right entries, shorts or longs, take your pick. I've found myself ignoring the first 5-10min of the stock market open. If I don't see anything I like, I sit on cash all day. We don't need to trade every blipping day. Be patient, and wait for the right move. Over trading is a bitch so stop doing it in this choppy market. Forcing in this market does not help, the right trades will always come along, just have to wait for it.
Element 2) More is Less, Less is More
Above I talked about patience and knowing when to hit it or quit it lol, but in all honestly knowing when to size in the right trade can be very profitable
I've found myself sticking to 1-3 stocks a day and I wont shy away from that. It has improved my winning average and has improved my profits. More focus = better trading. Sometimes to let a stock workout we need not focus on it, but this market is nuts. A lot of traders out there scalp many different stocks, I've reduced my scalping. I now look for the bigger picture moves.
This doesn't mean go all in and hope for the best. Means trade the size your comfortable with and be patience and respect your stop losses
