Solid morning of trading on $GEVO and $OHGI. I traded 4 names today and came out with profit on 2/4. So accuracy is a little low but I didn’t take any large losses. All trades today were relatively small stabs at setups looking for a bigger move. The lack of a bigger move is part of the market right now. We seem to be lacking follow through. This makes trading extremely difficult because the breakout points where I typically expect massive volume and a spike is just kind of a dud. The most important thing for me right now is to continue to remind myself that even though I’m falling a bit short of my daily profit targets, I’m still generating profits and pulling more out of the market than I’m giving back. This is a job that can be extremely humbling! One month I might make 25-30k and the next month only half that!
the learning continues
As with all traders, learning never stops. I am always learning new strategies and finding ways to improve my current strategies. Right now I am working on honing my ability to buy pullbacks with a tight stop because the extension bars have been harder to find. Those breakout spots result in less volume so instead I need to find earlier entries and sell at the breakout point instead of buying more shares. During stronger markets I use the breakout point as a place to double up and scalp the high of day break but right now that isn’t working very well. I remember this happening last year at this time so I think to a certain degree it’s seasonal. We are also inbetween big runners right now.