Week 26 | 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 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.
Key Takeaways | 6.22.2021 | Tuesday
- Establish explicit rules for protecting paper gains.
- Identify trading style & goal before entering trade.
- Develop greater tolerance for drawdowns. Eliminate Peewee Paper-hands trading.
- Get more out of your winners.
Key Takeaways | 6.23.2021 | Wednesday
- Develop greater tolerance for Fluctuations.
- Trust your levels. Play in between Levels. Respect Candle Close rules at levels.
- Give trades time to work out. Exercise patience & resolve. Employ Onyx stone.
- Must follow your game plan on EXITS as well as ENTRIES.
- Eliminate Peewee Paper-hands trading. Employ Onyx stone.