Daily Recap +$10,359 on 2 Momentum Stocks
Hey everyone! Today was my day of redemption!! Tuesday I closed the day red -$2815 (see my Red Day Recap video lesson here), and then yesterday I only made $29 on 2 trades before I decided the market wasn’t on my side and I called it a day. That left me down on the week and hoping we’d see some good opportunities either today or tomorrow. As much as I wanted to finish the week with $10k in profits, I can’t force trades. I have to let the market come to me. One of the first things you will learn as a trader is that you aren’t stronger than the market. The market is like sailing in the ocean. When the tides and currents are in your favor and you have a steady breeze you can do really well, but when things are looking to take a turn for the worst your best bet is to get out of the way. Finding shelter from the storm vs fighting through the rough days. This is a decision every sailor and every trader will have to make at some point. I used to fight through everyday but I realized that it’s actually far better for me to step away from a difficult market. It reduces my stress and prevents me from taking high risk positions. Today I saw 2 strong opportunities and I capitalized on them. I can step back out of the action until I see the next opportunity.