- Have faith in your analysis and let your trades work out within it. Trust your levels.
- Break even is better than loss. Protect Profits.
- Make explicit to the minute game plans.
- Develop greater tolerance for fluctuations
- Get more out of your winners.
- Establish explicit rules to protect paper gains. Consider combining EMAs as well as levels for stop out points.
- Identify & embrace trading style & Time Horizon before entering trades.
- Eliminate Peewee Paper-hands trading. Employ Onyx stone.
- Systemize trade review time horizon break downs (Daily to Weekly, Weekly to Monthly, Monthly to Yearly.)
- Finish Game plans earlier
Overview: Being as thorough, systematic, procedural as possible is paramount, and doing so in all stages of a trade from game plan, to entry, to exit, to review. This is the path forward. Must develop a stronger stomach for fluctuations, I can take some of the burden off having to have titanium balls to just following, procedurally, the outlines I already made before hand based on my proven technical analysis. Have faith in my technical analysis. I may not be a master just yet, but time and again on reviewing price action after the fact, my analysis has been spot on. The bulk of the takeaways for this month boil down to just systemizing all stages of a trade, then execute procedurally, because all possible out comes & reactions to these defined outcomes will have been outlined & planned for.
Key Takeaways | Week 23 | 2021
- Break even is better than loss.
- Systemize time horizon review.
- Finish Game plans earlier
Overview: This week saw the creation of the daily/weekly/monthly activity logs & key takeaway journals. Distilled clear overview of monthly progress & built framework to have daily posts build into weekly and then build into monthly.
Key Takeaways | Week 24 | 2021
- Trust your levels.
- Make explicit to the minute game plans.
- Protect 50% profits always.
Overview: This was the first week I was able to have a trading day in which I’d thoroughly prepared for using the near final version of my Game plan tool & felt ready for. I had to be up at 3:40 to do so but I felt ready. I will get faster as I get more comfortable. Some obstacles to consider are how to scan a large number of stocks & pick the best out of the bunch to do more in depth charting as time is limited. Also, still not having total faith in my levels, even though they have proven to be accurate, spot on even. Confidence will come with more proof of capacity, but in the meantime, I need to follow up thoroughly with predicted game plans to see just how well my levels played out across all issues charted & refine my charting accordingly.
Key Takeaways | Week 26 | 2021
- Have faith in your analysis and let your trades work out within it.
- Develop greater tolerance for fluctuations
- Get more out of your winners.
- Establish explicit rules to protect paper gains. Consider combining EMAs as well as levels for stop out points.
- Identify & embrace trading style & Time Horizon before entering trades.
- Eliminate Peewee Paper-hands trading. Employ Onyx stone.
Overview: Main key takeaway really is to just have faith in your analysis and let your trades work out within it. This will allow you to get more out of your winners, to tolerate fluctuations, & let trades work themselves out, which are the bulk of the takeaways from this week. The means to reaching this end of having faith in your analysis can vary. Sometimes it’s just holding on, in which case you should employ holding the onyx stone if you can’t keep your trigger happy finger from exiting. I have empathy for myself and my hesitance to let trades work out. I’m still building a cushion and all things considered, I’m still relatively new to trading stocks other than Apple, I’ve had only 7 days of experience doing so, only 2 of which were done well with thorough game plans & prior analysis. Continue on this path.