Wild 2020 Ride ( My Story)
Hello all. I have been off the grid for quite some time just when I announed I would be more active so I guess I owe this review to my followers more than myself. It has truly been a mile-high rollercoaster ride. I hope you enjoy and take something positive from it. This is my story.
I have been studying the market as a teen for years but never had enough to start. I started trading on December 2, 2019 with $3k from a student loan while studying a Dental Medicine Doctorate. By the start of 2020 I had $1.4k in profit and just then I got struck by my first offering, in ONTX, -50% in a matter of seconds. That wiped out all my profits and a big chunk of initial investment. I took it hard but studied and until this day I have not been caught in an offering again.
As I gained experience I started to notice my specialty was price action. I could watch charts while eating and studying like if it’s a movie and so I later found myself being able to predict short term momentum by identifying patterns unconsciously. I combined this with other indicators and previous lessons and became infallible. I went for 21 trading days without a single negative trade, making between 4-10 trades a day, all green. By August 2020 I had turned 3k into 18k and had a second account that went from 2k to 9k. I decided to join the funds to overpass the PDT rule. Oh boy, the freedom! That’s when things started to escalate.
Addicted as I was, I started to trade during clinical exams even and because I felt my success rate was so high I started to get into scalping options on large market cap stocks. I was making trades I thought were impossible. I went on to make $4k trades and $10k a week as a full time doctorate student. It was surreal.
Though all it takes is one sharp shift in momentum to start a spiral. One day, dear TSLA dropped 100 points in the first 5 minutes of the market open and guess who was playing calls. I got out with -$12k in just a few minutes and although I was still up huge from my initial investment, the pain was unbearable. The feeling of just being so wrong after such a streak almost the whole year... I kept going for more with a hunger of recovering what was lost even as I knew it wasn’t a healthy mindset but I just couldn’t get over that loss so quick that I could trade the next day unemotionally. I went on to lose more trades for the next 2 weeks to the point I thought my winnings were just luck. At the moment I doubted myself I just knew I had to get out and reset. I took all my funds, put them on cryptocurrencies and left them there earning interests so I could focus on my studies.
My assesment or conclusion during that time were two things. One, I was emotional, you couldn’t imagine how much, and noone can think as rationally and un wishfully as when emotions aren’t interfering. Why I got emotional in the first place is very clear now, I was playing with a lot more than I was willing to lose in a single trade. Two, I went beyond my experience. My strategy and expertice had been with small caps and although I had a great start on large caps, it just isn’t the same. Price action differs and other trader’s mentality isn’t as predictible on such big floats.
Just last week, on December 28th, I started trading again to prove if my 2020 trading career was skill or just luck. Account went up 8.5% on the week, we shall see what the rest of 2021 will bring.
This is the growth chart of one of the accounts, the other account for some reason doesn’t display a corresponding chart. (Arrow represents the point I withdrew all funds)
I have been studying the market as a teen for years but never had enough to start. I started trading on December 2, 2019 with $3k from a student loan while studying a Dental Medicine Doctorate. By the start of 2020 I had $1.4k in profit and just then I got struck by my first offering, in ONTX, -50% in a matter of seconds. That wiped out all my profits and a big chunk of initial investment. I took it hard but studied and until this day I have not been caught in an offering again.
As I gained experience I started to notice my specialty was price action. I could watch charts while eating and studying like if it’s a movie and so I later found myself being able to predict short term momentum by identifying patterns unconsciously. I combined this with other indicators and previous lessons and became infallible. I went for 21 trading days without a single negative trade, making between 4-10 trades a day, all green. By August 2020 I had turned 3k into 18k and had a second account that went from 2k to 9k. I decided to join the funds to overpass the PDT rule. Oh boy, the freedom! That’s when things started to escalate.
Addicted as I was, I started to trade during clinical exams even and because I felt my success rate was so high I started to get into scalping options on large market cap stocks. I was making trades I thought were impossible. I went on to make $4k trades and $10k a week as a full time doctorate student. It was surreal.
Though all it takes is one sharp shift in momentum to start a spiral. One day, dear TSLA dropped 100 points in the first 5 minutes of the market open and guess who was playing calls. I got out with -$12k in just a few minutes and although I was still up huge from my initial investment, the pain was unbearable. The feeling of just being so wrong after such a streak almost the whole year... I kept going for more with a hunger of recovering what was lost even as I knew it wasn’t a healthy mindset but I just couldn’t get over that loss so quick that I could trade the next day unemotionally. I went on to lose more trades for the next 2 weeks to the point I thought my winnings were just luck. At the moment I doubted myself I just knew I had to get out and reset. I took all my funds, put them on cryptocurrencies and left them there earning interests so I could focus on my studies.
My assesment or conclusion during that time were two things. One, I was emotional, you couldn’t imagine how much, and noone can think as rationally and un wishfully as when emotions aren’t interfering. Why I got emotional in the first place is very clear now, I was playing with a lot more than I was willing to lose in a single trade. Two, I went beyond my experience. My strategy and expertice had been with small caps and although I had a great start on large caps, it just isn’t the same. Price action differs and other trader’s mentality isn’t as predictible on such big floats.
Just last week, on December 28th, I started trading again to prove if my 2020 trading career was skill or just luck. Account went up 8.5% on the week, we shall see what the rest of 2021 will bring.
This is the growth chart of one of the accounts, the other account for some reason doesn’t display a corresponding chart. (Arrow represents the point I withdrew all funds)
Happy new year and may 2021 bring health and wealth to all.
Great work, great follows: @Treydon Gui @Clownarado
Great work, great follows: @Treydon Gui @Clownarado
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Daytrader under continuously evolving trading plan of low Cap stocks.
I share some of my trades, stock picks, and TA.
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treydongui : hey way to lay it all out there. it's pretty much the form that Moomoo asked for. I didn't know if you're still around or not sorry I missed you when I was tagging friends from the past year. please be a bigger part of the community again and make sure I don't miss you around man. have a great 2021 and I look forward to hearing your insights while crushing the markets. the real question will be after the blockchain rush what happens then
Clownarado : This is an excellent story. I've often wondered if a simple thing like noticing trends would begin to develop as a talent rather than a skill one must work at.
Certainly appreciate you sharing this experience with us.
FirstStrike Veteran : Thanks. you got to be mindful of the emotional trades. We all have done it, and it's the hardest thing to stop over you start. good luck, it seems you have a great talent.
ConchTrader : Nice story!! Thank you for sharing your experiences and knowledge with everyone. I’ve made some emotional moves and I think we all need to reset when we think we are infallible at times. Good luck in 2021 !!!!
SpadeOP treydongui: Hey, I’ll definitely try my best to be more active, I really enjoy bein part of the community. As for blockchain, there may be a lot of hype now but even if it fades out I believe blockchain is here to stay and take over in time. Have a great 2021, wish you the best
SpadeOP FirstStrike Veteran: Thank you sir. I’ll keep at it
SpadeOP Clownarado: Never thought of it as a talent, interesting view. Thanks, I really appreciate your reply
SpadeOP ConchTrader: Yes! Just as cars produce heat to run, an overheated engine can explode. I guess it happes to us traders aswell and it’s not rare we need to cool off in order to run some more. Good luck aswell on this new year!
Gregory Cox : great sounds like living it. ups downs.
the coins did I miss how that went.
TSLA2800 : I have a Pfizer that's $39.00 so low now I don't know what to do? If you want to sell it and lose a lot, please give me some suggestions, thank you!
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