Hey everyone-
I’ve been dabbling in equities for the past 3 months, just kind of buying/selling based off knowledge about the company, gut feeling that the stock would do well, etc. No tech analysis, no sentimental analysis, just using some very basic fundamental analysis to guide my decisions.
Well yesterday(5/29/20) was the first day I hit the trading floor with the full intent of doing straight day trading based of my newly acquired knowledge and sticking to my day trading rules/plan. (I guess I’m also a swing trader as well… I have a full time job, this is my hobby)
I was successful! There was down-time, poor decisions were made, intense periods where second by second I checking multiple equities. It was exhilarating (it really hit the fan the last 20 minutes of the trading day for me)!
After closing ~ half of my positions near close, I took a step back and realized that there is so much more that I need to learn. I made a few blunders due because I am not proficent enough in my trading platform (thinkorswim). If I had bought/sold equities in lots rather than buying/selling all of an equity like a binary option, I would have mitigated some of my losses and made some more cash on my sells. I hadn’t even considered doing this until half-way through the day when I saw how advantageous it could be.
I really thought I was well prepared, I quickly learned that there is so much more I need to learn and skills I need to acquire as I go down this journey. I’m going to use this weekend to review some technical analysis, and improve my trading plan. Maybe I’ll do better next time? Who knows?
I beat the market averages quite handily. Just thinking about it makes me smile. But, I know there is more out there to learn and utilize, I am only on the cusp of understanding how to trade.
Thanks for reading this! Just needed to put some of my thoughts out there.
TL;DR - Floated a swing trade to sniff out a whipsaw, driving positive earning by utilizing double switch cross backs loosely based on Fibonacci reenactments, hashed in with VIX volatility
