It’s been awhile!
In the past few months, I’ve been lifting, options trading, taking on more responsibilities at work, and fishing more. Everything has been going well given the current state of our world and COVID-19. I’ve gotten back into options trading, which was something that i did HEAVILY back in March and April when the market dropped off. Since returning to the market, my top gainers have been $TSLA, $AMD, $AAPL, and $SRNE (although I’ve given up on biotech for the time being). Every day is a new day when it comes to day-trading, and it’s easy to get bogged down from the previous day’s losses. But as my friend told me back in freshman year of college:
“You gotta roll with the punches.”-my good friend (you know who you are) 😉
That’s true for almost everything you do in life. A good example, were my Face-to-Face Client Meetings down in Phoenix, Austin, and Tokyo, shit happens. Someone forgets a flash drive containing critical content, or a freaking typhoon floods the train tracks and forces your team to be both stuck in the airport AND be delayed a day. We had to find ways to complete our mission and remain level headed. Similarly, day-trading is like that. My routine is as follows:
- Wake up at 6AM to boot up my PC, ThinkOrSwim, and Discord. Hop on to my friend’s discord server to discuss the plays for the day.
- Grab a bottle of water and make my GFuel. Ensure phone is on cellular data and NOT wifi, and the wifi is spotty in my room.
- Market opens at 6:30 PST. Carefully watch my positions and sell if there’s any steep drop offs past -20%. Take profit when I can, but let the winners ride.
- Work begins at 8AM. Start work and check calendar for any upcoming meetings for the day. Continue to trade throughout the day until 1PM PST.
- Market closes at 1PM PST. In the final hour of the day (12PM to 1PM), carefully watch stocks rise during “power hour”. In r/WallStreetBets, Wednesdays are known as “WOO WEDNESDAYS”. The pump is real today (8/12/20). I’ve purchased and sold $TSLA 5 times so far and have taken serious profits off it. Stonks only go up.
- After-Hours trading begins at 1PM PST. Watch the market every now and then to see how my positions are doing.
It’s a stressful time to day-trade. You watch your positions swing really hard up and really hard down, or sometimes just sideways (the trend-line travels sideways or up and down in small increments). It’s a great way to make a lot of money quickly AND to lose a lot of money quickly. Either way, I really enjoy day trading. But that quote always stays in my head. Keep rolling with the punches. It’s going to get hard and you’re gonna feel real sad, but as long as you keep taking the hits and learning from them, you’re going to be much better than you were before you took those hits. The meditation part of this, is to take breaks when you can. For the past 3 days, I’ve been driving to my local lake to do some bass and bluegill fishing. Even if I don’t catch anything, I enjoy the time to relax and just enjoy nature. Nothing beats a day on the lake.
Good luck everyone! I hope all is well.