Tuesday, July 19, 2016

First Lessons

First lessons?

Cut loss and trailing stops at specific percentages and do not be greedy. If you already know that it is the resistance, sell before it goes down again. I've learned this the hard way. I held this certain stock and I already know that it was the resistance and have 25% gain, but was too greedy to sell at 25%, I wanted to sell at 35% gain, then it did not hold, and my gains went down to 5%. 

Now, back to basics, I'm back to reading books, watching webinars about basic MA, EMA, Fibonacci, Ichimoku and Harmonics. What have I learned? to do it one step at a time. You cannot learn it all at the same time.

Can I say that I am progressing? I can't.. Just like Jon Snow, I know nothing. I am guilty of FOMO and wanting to get revenge. Now I lost more. I still preserved some capital and for that I am thankful, although less, it can still work. Now I've exited all my positions, back to start. zero. nada.

For now that is all. I still need to remove my feelings when trading. Everything should be technical, do not get upset when you cut loss and do not be happy when you win. And it is not the case. I feel very down right now, and I am thankful to the blogs I'm reading, quoting this one from Celeste.. 

"Sometimes all we need is someone to believe in us when we don’t."

Will be reading about Ichimoku clouds and Harmonics. I will write again once I go back trading and when I come back, I will be more equipped.

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