Sunday, May 3, 2009

Holding Myself Accountable

This is the start of what I hope to be an entertaining and interesting blog. I will be going over most of my trades in detail not only so I can see where I messed up, but so others may offer some helpful insight and/or constructive criticism.

I will also be talking about complaining and rambling about what it is like to trade stocks while having to wake up at the ass crack of dawn.



I started trading stocks when my dad told me of the potential returns that the market can give at any time. I was immediately sucked in, and dreaming of getting rich quick playing the stock market. I wish someone would've slapped some sense into me then, it would've saved me a lot of time and money. Shortly after my dad introduced me to the stock market I opened an account with Tradeking with $5000. At first I made a few hundred lucky dollars by buying stocks like GE, GOOG, BIDU, etc. That's when it all went down hill...

I lost about $500 in 2 days in another one of my pure speculative buys of SIRI when they were in talks of a merge with XM. That is when my aimless buying of big name companies stopped, and I found Timothy Sykes. With the help of Timothy Sykes, and after I switched to Thinkorswim, I was finally getting the hang of it, or so I thought. I made a few more lucky dollars, but every time I got into a trade I was petrified. I would have sweaty palms, sweaty feat, and an uncontrollable heart rate. This caused me to leave profits on the table, and not obey my mental stops. This brought my account down to the $4000 level.

Then I found my way to the Investors Underground chat, where I am constantly learning from Muddy, Laura, Tortexal, Investors Live, and everyone else's alerts and input in chat. I am a much better trader now than I was when I started, but I still have a lot to learn.

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