Starting Off a New Week: Realistic Expectations
As I recap my day trading from last week, I must admit that I’m currently feeling a touch less optimistic. The last couple of weeks haven’t been fantastic. We’ve seen a pattern of slow weeks, leaving traders, myself included, decidedly cautious. The sense of urgency, that fear of missing out, just isn’t present in the market right now. Reduced volatility presents distinct challenges, whether you’re holding a long or a short position. With a lack of volatility comes a scarcity of liquidity—there aren’t many ways to play. It’s vital to recognize these market cycles rather than trade recklessly during these cooler periods.
Reflections on Monday Morning: Reading the Market
Here on Monday morning, glancing over my scanners, there’s a stock up noticeably, yet it has shown only brief activity—a common theme lately. It’s a reminder that patience truly is a virtue in trading. Consistency is key for me; I aim to be green each week and month. However, I understand that it won’t be green every day. As I wade into the third week, I’m treading water. My plan is to build on a profitable cushion gradually, starting off the week gently and amping up my risk as warranted.
Adjusting Strategies: A Game Plan for Growth
Mid-week often marks the pinnacle of my trading success, followed by a slow wind down approaching Friday. While penny stocks have had their moment, their momentum has cooled somewhat. For now, my strategy waits to see if a specific stock or sector catches fire. I stay conservative in my approach because I trade with the goal of income—even trading within a retirement account, this retains my focus. Last week tested me with a significant loss, reminding me that maintaining a careful strategy is crucial for my confidence and overall success.
Hotkeys & Hefty Decisions: Learning from Losses
Sometimes, rapid execution via hotkeys can backfire—it certainly did for me last week. A rapid entry followed by a misguided effort to average down led to a substantial loss. It was a stark reminder that careful entry and not overextending are essential. While I’ve managed to recover financially from that hit, emotionally, it’s left its mark. I’ll need several good trading days to wash away the sting and reestablish my usual confidence.
As we head into the rest of the week, I’m reminded of an essential trader’s motto: trade the market you’re in, not the one you wish for. I’ll be applying this adage, remaining vigilant for good opportunities and staying true to my trading principles.