Trading Weekly Updates

Weekly Account Update 9/14/20-9/18/20

Started With A Lucky Trade

I have to admit, I traded pretty terrible this week. I was saved by one trade in Nvidia (NVDA) in which I was lucky based on some buyout news. Now, I’m absolutely not complaining as I was up for the week but it was humbling as well. If I didn’t have one lucky trade, I would have been negative on almost 75% of my trades.

My lucky trade in NVDA

So what did I learn from this… Patience.

I realized that I wasn’t sticking to my game plan and always rushing into trades or out of trades instead of sticking to my game plan.

So this leads to how I ended the week on quadwitching day. I still didn’t follow my game plan even after I kept telling myself to be patient for a trade to line up. Instead I followed the experienced traders in the group without a real gameplan.

Now it may work out in my favor on Tesla (TSLA) and Nio (NIO) but the charts weren’t lining up for my indicators to buy in even thought the Technical Analysis didn’t look too bad. I also took a sympathy news play in Novavax (NVAX) without scaling in properly.

TSLA Trade Setup With Technical Analysis
Bought NVAX Too Early

My Focus For Next Week

So this week is all about learning patience and waiting for great trading setups and only getting into a trade once I have all the confirmations.

What I’m Holding Over The Weekend

Have a great week and remember to focus on creating those positive routines!

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convert411

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