OT @Veritas2000 Thank you V for popping in from time to time with some words of wisdom. I must say I do look forward to your calming influence, and I have also found your wisdom/thoughts on positions I haven't held insightful and a good learning opportunity.
As you know I've used the last week and a bit as a foray into Day Trading. I know Day Trading is hard and I've found it a bit frenetic TBH. I suppose it is never easy to learn a new craft, and it also does feel like a tricky time in the broader market in general.
I have learnt some things this last couple of weeks. A couple are here...
I have been “OK” with money management, but I would like to be better in this area for longevity. Perhaps I've been a bit "unlucky" a couple of times (MELs “plug and abandon” ann. springs to mind). I'm a firm believer that you make your own "luck" though, so I'll put this down to inexperience (i.e. holding overnight with a high expectation of a positive ann.; some helpful comments from @Elite_Trader re: REC spring to mind).
I need to be more proactive in identifying my own potential trades so I can be timely, have a plan and stick to it, and not feel like I’m chasing the market around. I assume decent Scanner setup, and keeping eyes on news as a catalyst for momentum is part of the puzzle here. I’ll have a look at @Ravgnome postings too, for some scanner setup ideas (thank you). Any advice would be greatly received.
While hoping not to sound too dejected, I think I need to take my learnings, spend time on my trading plan and in future exercise more discipline on sticking to it. Time for a bit of a regroup methinks, so I can return with renewed vigour! I might chime in from time to time to get your thoughts if you’re ok with that.
