January 12, 2013
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Trading Update: 1/7 – 1/11
Started trading this week for the new year- hoping to move onward and upward from last year.
Market movement was pretty slow this week – taking a break from the last couple of weeks of hyper Fiscal Cliff Washington drama that sent the market gyrating up and down.
One of my goals this year is to be patient and wait for high probability trades, so that was my focus most of the week as I practiced restraint and just watched/analyzed market movement.
The market had a lot of choppiness this week with an occasional mini surge to run through stop loss orders. That made it better for shorter term trading rather than swing trading. By focusing on the movement this week though, I realize that there’s a good amount of profit potential if one can successfully navigate the choppy nature of the market.
Unfortunately I still need some more practice in this area of short term trading, as I thought I saw some trading opportunities, but still wound up jumping the gun at times.
I did manage some good trades as well – but they basically paid for the mistakes.
The net result of trades set a new record:
This ranks as my lowest positive weekly return. Whoop whoop!
Well, at least it kicks off the year to a positive start!
Comments (3)
the number of variables – including human ones – is pretty overwhelming to think about, but I guess you just need to set limits as to which ones are important to pay attention to when investing.
I played stock market games in school when I was in middle and high school. I sucked pretty hard. It’s been a while since then though, and I’m also done with raging hormones and having a perpetually clouded-mind.
I want to get into a career that has something to do with money/accounting/budgeting, something like that. I’m sure I’ll have to take a look into the stock market world again.
@consignedhearts111 - You basically have to start out in a wide field of options and variables, then try to define a set of constraints to reduce the complexity and see if any correlation can be determined to aide in market timing. It actually does feel more on the overwhelming side in the beginning.
Yeah, the market is mostly counter intuitive- it behaves differently than what we’d naturally would expect with the day to day rules we live by. Very few people pick up the market easily….and I certainly wasn’t in that select group either, haha.
At least now they have excellent trading simulators that are identical to a real account where you can practice and learn more about trading without risking any real dinero.
i will put it in my bucket list of things to learn/try. training mode first, of course.
i’m sure it’s like starting a new job you’re way too underqualified for. dive in, learn as you go, make mistakes and figure it out asap. tips from pros may work too. it must take some getting used to for sure.