Day 1

Hello,

My first day trading was yesterday, Feb 1, 2021.  The crazy thing was that I did absolutely NO trading.  I sat in amazement as I watched all the tickers and the volatility of the market.  It was honestly breathtaking.  

I suppose however, I should actually start with how I got started.  

Investors Underground

It started with Investors Underground.  One of my mentors has always talked very highly of this service.  They have training material, chat rooms, scans, the whole 9 yards.  Of course, I barely understand what I am looking at, but it seems impressive at any rate.   I signed up just in time to receive the Sunday night weekly scan.  Excited as I could be at this point, I got on and watched the 50 min video of Nathan Michaud talking about the upcoming week.  I really didn't understand too much of it but it really gave me a lot of hope.

Next: TD Ameritrade Account

 I needed to set up my TD Ameritrade account.  I got on signed up, set up my account, and added my bank account so I could transfer money in and out.  Honestly, the money part was WAY too easy to do.  I assume this is their way of keeping the line open so you can add cash fast if you need to.  There is a deep fear for me in that concept, but I can only risk what I choose.  As long as I have the self-control I should be fine.

Next: Think or Swim

I downloaded Think or Swim platform which is what I have heard others use. To be fair I did try to paper trade once before with the platform, but it has been a while and it is quite different in my opinion from real trading.  Afterward, I went to youtube and watched several videos on how to set up the platform. I wanted to see what other people did and the way they worked. 

Trading Day 1:

This brings me to day one of trading.  I got on a 7:50cst AM and watched the pre-market broadcast on IU, and added a bunch of stocks to my watchlist, grabbed another cup of coffee, and got ready.  I heard that opening bell and all the tickers just seemed to come alive.  I hesitated... I didn't know what to do.  I had real money that I earned that now I could use to trade and try and make more money, but that realization that I could lose it all hit me for real.  I think it's a healthy fear, but one nonetheless.

Midday, after watching the chats with all the jargon and the tickers, I decided that I probably should go through the training materials on the group's website before getting into any positions. 

All that to say, I didn't move into any positions in the market on Day 1. But wow did it seem like a long day and my head was spinning at the end. 

A lot to learn, and it feels like a short time to learn it.

TNTrader

Comments

Post a Comment

Popular posts from this blog

Ups and Downs

Image
 Hey all, Wildly enough, it's been a bit of a tough week.  To be honest, I am surprised it is Wednesday. Monday was interesting.  I was watching a ticker OCGN.  Pre-market, that bad boy was nothing really too special in my opinion, but right before open it hit VWAP and hung out there for a few min and then started to rise.  You can see this in the 5 min chart below.  But the calls in the chat room were talking about it going either way.  Basically, the play was to wait a few minutes to see what it was going to do and trade either an up or down strategy based on the direction it moved.  As you can see from the chart, it moved up, folks played it long, then short, then long again, and made a killing...  Me, I missed it because I wasn't sure yet. So I decided to paper trade that ticker.  Knowing what it was going to do, I would go to paper money, and trade on a 20 min delay.  I could work on my entries and exits on a moving stock. Prac...
Read more

A Trying Day

Image
Today was not the best day for trading so far.   I have always heard that there are two types of traders, the kind that comes to the market with a plan and executes according to plan,  and the kind that puts money in and hopes for the best. Today I was the latter.  I should have known better than to trade the way I did, but yet I did it anyway.  In a nutshell, I chased a ticker long today and it dropped quickly as soon as I entered and it never rebounded.  The ticker was TYME.  I entered around 9am at 4.92 (near the High Of Day) a share and within literally 30 seconds it had dropped 50 cents a share.  Because it didn't go the way I anticipated I exited with the hope that I could catch it again on the way up.  But it never went up again.  TYME closed at 3.53.  To be honest I was a little upset with myself and couldn't really think straight so I didn't enter another position all day.  Now you might look at this and think of cours...
Read more

The Every Day Blog

 Well, obviously every day is not going to be the case as I have already blown that commitment.  Here is how things have gone over the past couple of days... They haven't.  I have been watching the market, doing research and doing my training materials from Investors Underground, but I haven't really pulled the trigger on anything else yet. I learned more or less what swing trading is, looked into OTC stocks (penny stock), and learned in more detail the ABCD pattern. Unfortunately, I think there is something wrong with my TDAmeritrade account and I need to call support and get it all straightened out.  I honestly dread support calls because it is usually hours on the phone to get a question answered and there are multiple transitional phone calls etc...  I did watch several stocks and look more in-depth for the ABCD pattern and got some more tips from my mentors about VWAP (Volume weighted average price) and the idea to start studying how a stock reacts as it te...
Read more