Get Focused! +$2,493 Day Trading $SKLN
It’s only Tuesday but I’m already up over $8,000.00 this week in 4 hours of day trading. I traded 2hrs yesterday and 2hrs today. In total I’ve taken 9 trades and had 100% accuracy. It’s a good thing I’m making some good money here on Monday and Tuesday because due to Thanksgiving, the market is closed Thursday and will be only a half day on Friday. That means this week I really have to make the most of the good opportunities!!
Through the month of November I’ve been maintaining the same rules I put in place in June. Only trade A quality setups, and take 2x regular size on those trades. That means my share size has been higher, and on winning trades, I’ve made a lot of money. Unfortunately, on the losers, I’ve also given back a lot of profit. Both October and November have been the slowest months for me since the spring. I’m not sure why, maybe the elections were a factor, or maybe there has just been less good news releases.
Regardless of the reason, I’ve found myself taking a lot of trades based on the Beginners Momentum Day Trading Strategy and finding great moves, but not enough follow through. That has meant on several trades I’ve been up $2k, but didn’t take profit, and ended up stopping out nearly breakeven. If you do that 4-5 times in a row, you’ve quickly given up $10k in profits. As we come closer to the end of the month I am being more aggressive to take profits when I have it since I have been able to build a substantial profit cushion in the last 3 weeks.