The final week. I made some trades this week to close this off and i made around 675.98. I will do this blog post to go over my success and my failures. My biggest success by far was learning this knowledge that i would have never thought to learn and this can benefit me in the future. My biggest regret by far was not putting in more time into this. Even though i came out making profit i could have made a lot more if i took this more seriously and gave it a lot more time. Some weekends i could not give time but i definitive could have given more time during the week after school. But i have decided i will restart my account and try again to get used to day trading before i put real money into it which i plan to do but i do not know when i will do that. One last thing i learned about strategies is there is no one fits all and the best strategy is the one that fits you best.
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I had a really good trading week which comes just in the nick of time because of how close it is to this thing coming to the end. I made around 986.76 dollars. I did a little bit of all the trading strategies which i will probably stop doing and just stick to the EMA and bollinger band one which is not an official strategy to my knowledge but it is one that i enjoy using the most.m I wont be really using the MACD anymore unless i see the perfect opportunity on it because i am not the biggest fan of it.
I learned about the 3 different types of ways you can make money but i will only really cover the 2 main ways. The most well known is buying. Buying is when you buy the crypto/stock at a certain price and hope it will go up and if it does you then sell it to make a profit. Shorting is when you sell stock/crypto that you don't own then hope it goes down so when you buy it back you get it for cheaper then you sold it for. The last one is consolidating which is when you gamble the price will stay in a selected price range.
This week i did not learn any new trading strategies but chose to spend my time primarily trading. I had a decent week making 317.63 dollars. I went back to a more basic type of trading which is a combination of the 200 day EMA along with the bollinger bands and when the price bounces off the 200 day EMA you either short it or buy and when it skyrockets past the bollinger band you sell. i did make a few bad trades but i learned from my past mistakes and i chose to take a few day break.
I learned about the MACD trading strategy. This indicator uses several moving averages to discover trends in the market. The MACD indicator is okay by itself but if you combine this withe the 200 day EMA you have a really good trading strategy. I did try this trade a few times but the main issue i found with it is finding the right stock or crypto to trade with it. Most trading strategies especially this one requires specific markets to apply this in which can take time. This is not a bad strategy and will probably use in the future.
This was a very unsuccessful week because i lost around 257.34. I just had a really poor week which happens along side with the fact that the first trade i made i lost 73.25 and the next trades i wanted to break at least even which is just really stupid because you never trade off a lost like that which i knew but i failed to listen to my own advice which cost me to much money.
This was a not a good week for me because i was very busy this week and i did try a few longer trades but none of these trades worked out for me. I watched a few videos on what each type of candle stick and there relation to the ones next to it which i hope will come in handy in the following weeks along with the fact that candle stick sizes can predict if the market will reverse or not.
This is the week in which i decided to learn the William fractals indicator strategy. This strategy uses William fractals and a 200 day EMA to calculate when to buy and sell. I tried this out for 7 different trades and each of these trades i either broke even or lost money except for one which i made like 12 dollars. My issue with these is the fact that they come so late that the trend you are trading for has normally passed and it probably has turned into a sideways market. The only solution i have found to this problem is if i tried trading days and not the minute or hour time frame i normally trade in. I will not use this trading strategy again.
This was a very successful week in terms of making money. I made around 974.74 dollars. I did a lot more trades this week but in combination with this week i made a lot of losses. I combined the fact i needed to make the money back but not letting my emotions get the best of me. This allowed me to not have to take days off while not making stupid trading decisions. I am starting to realize my greatest regret which is not giving more time to this and doing more trades.
Week 3 was successful because i made 586.78 dollars. Due to the fact of xc and my lacrosse practice my ability to trade much was greatly diminished and my ability to learn had greatly diminshed. I set a down trade early in the week that allowed me to make 767.89 dollars. i made some really bad trades later during the week which caused me to lose that 200 dollars and i only learned 1 onther trading style which i was not a big fan of.
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AuthorHi, I'm a high school senior that wants to learn how to trade efficiently. ArchivesCategories |