I will quickly cover my first 5 trades. Unfortunately at that point I had not planned on screencasting my trades, so I don’t have videos for these trades.
Trade #1 – Ninja0n3 vs $BDR
This was officially my first trade ever. It turned out to be a loss.
The mistake: I bought Long based on chat hype while having no information in regards to the stock itself. I didn’t listen to my gut and ignored the clearly irregular unpredictable chart pattern before me. I stuck to my 5% loss rule and got out.
Trade #2 – Ninja0n3 vs $MOBI
This would have been a win if I had not entered the stock so late. I was expecting it to break out at $8.50, but it didn’t.
The mistake: Took a position too late, didn’t pay attention to the chart.
Trade #3 – Ninja0n3 vs $HPJ
This is officially my first profitable trade. I bought based on Tim Alert. I didn’t anticipate the resistance at $6.05-$6.10 and the price dumped as it was the clear peak. Could have made a bit more. But no regrets.
Trade #4 – Ninja0n3 vs $JRJC
This is my most significant loss to date, which reached my 5% loss rule. I entered this position way too late and I didn’t see the whole picture.
The mistake: Entered the position too late. I seem to be good at entering when the stock peaks…
Trade #5 – Ninja0n3 vs $DGLY round1
This loss could have been a $200 gain, but I didn’t stick to my 5% rule and exited way too soon. Had I not done that, the price would have gone back up and I would have taken in quite the profit. Too bad. Next.
The mistake: didn’t stick to my #1 Rule and didn’t wait.
Conclusion of the First 5 Trades
This first week trading with real money has been quite a learning experience, it has also shown me that I lack in experience in terms of quickly recognizing the patterns and reacting to the situations.
- Don’t trade on chat hype, trade on research and expected behavior
- Stick to the 5% rule
- Learn patience
- Keep calm