Hi everybody, Thursday 07/09 i traded with Iraj.
First a few words about my self.
I am not a profitable trader and have, over time developed some serious psychological issues which seem to have taken over my trading, in the worst way. After 3 years of losing and jumping from one method to another without giving any of them a chance,
I was on the brink of giving it up, even though I just knew I was sooooooooo close.
Anyway to get to the point, Iraj has kindly offered to help me out, hold my hand while I trade if you like, help me get back on track. And I thought maybe I could post some things I pick up along the way with the intention that others may find it of value.
Thursday 09 Sept we traded the morning only.
The trend bias was for obvious reasons down and our main trade was shorting JOYG (a Strategy 2 play). As Iraj pointed out the strongest stocks will fall the fastest meaning that JOYG had run up over 12 bucks in 4 days and people are only too willing to take there profits.
Our entry was not the best and it ran against us for what would have been a stop for me but the mkt was still weak (that was our analysis) so we let it run, the mkt turned down and JOYG dropped like a stone. We also closed it out early (due to only being able to trade a few hours) but we had done enough for me to make my target for the morning.
I was using small shares but made 200 bucks.
Lessons I learnt today was (using Iraj´s style of trading)
• That I shouldn’t be in too much of a hurry to close my position if I have the correct stock and mkt direction is correct.
• If im not sure of mkt direction use smaller share lots until im sure, then take the trade with normal size if it’s a winner it will easily make up for any small losses.
That’s it for today im sure some or all of this is elementary to the pros around even to some of the beginners but it cant hurt to repeat it now and again.
I will keep posting if people are interested, and answer any questions I can, (not too technical though) I have a full time job and 2 small children so I can only say I will do my best. Oh and please excuse my writing again im doing my best.
Regards
PS. Apologies for not posting earlier but I had to work and there I don’t have much excess to a PC with internet and I work looooooong hours when I am there which gives me more time to trade on my free days.
First a few words about my self.
I am not a profitable trader and have, over time developed some serious psychological issues which seem to have taken over my trading, in the worst way. After 3 years of losing and jumping from one method to another without giving any of them a chance,
I was on the brink of giving it up, even though I just knew I was sooooooooo close.
Anyway to get to the point, Iraj has kindly offered to help me out, hold my hand while I trade if you like, help me get back on track. And I thought maybe I could post some things I pick up along the way with the intention that others may find it of value.
Thursday 09 Sept we traded the morning only.
The trend bias was for obvious reasons down and our main trade was shorting JOYG (a Strategy 2 play). As Iraj pointed out the strongest stocks will fall the fastest meaning that JOYG had run up over 12 bucks in 4 days and people are only too willing to take there profits.
Our entry was not the best and it ran against us for what would have been a stop for me but the mkt was still weak (that was our analysis) so we let it run, the mkt turned down and JOYG dropped like a stone. We also closed it out early (due to only being able to trade a few hours) but we had done enough for me to make my target for the morning.
I was using small shares but made 200 bucks.
Lessons I learnt today was (using Iraj´s style of trading)
• That I shouldn’t be in too much of a hurry to close my position if I have the correct stock and mkt direction is correct.
• If im not sure of mkt direction use smaller share lots until im sure, then take the trade with normal size if it’s a winner it will easily make up for any small losses.
That’s it for today im sure some or all of this is elementary to the pros around even to some of the beginners but it cant hurt to repeat it now and again.
I will keep posting if people are interested, and answer any questions I can, (not too technical though) I have a full time job and 2 small children so I can only say I will do my best. Oh and please excuse my writing again im doing my best.
Regards
PS. Apologies for not posting earlier but I had to work and there I don’t have much excess to a PC with internet and I work looooooong hours when I am there which gives me more time to trade on my free days.
