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I believe I mentioned in my last post that I've been studying the Foreign exchange market and if I didn't, I apologize. I have been studying with the suggestion of a friend. I've been learning all about TA, the basics like- pips and spreads, risk management, best currency pairs, strategies, etc and I have to say, ever since I started my online courses I've been consistently profiting in the stock market. So much that my account has grown to an amount that I've never seen before. I've traded stocks since 2018 so I have the experience of general trading and I believe that's what makes me understand FX trading more deeply. This particular stock above, I started with a small amount of my overall balance (which isn't shown) then I kept adding a little by little to average down until it hit bottom and then squeezed. It would've been nice to have added more to the position but my strategy is about slow and steady, not "risky get rich quick" moves. Once I reach my account goal of 25k, I won't have to worry about the PDT rule anymore and I can freely trade without any limitations. The PDT rule states you can only day trade 3 times every 5 business days. :( to get around that, I've been swing trading but swing trading goes against my current strategy so I try not to do it too often unless the stock is a blue chip. My strategy has been to not be greedy by opening a position with a very small percentage of my overall account balance and averaging down if need be. There is more to it but that's the general idea and since I've really focused on risk management instead of taking large risky positions, I've been consistently profiting. Not super big profit but definitely constant profit. However I want to protect the money I've already made so that's why I'm switching to the Foreign exchange market which is known to be less risky than stocks and crypto. I'm still learning though, so in the meantime, I'll continue to trade stocks. I think the greatest thing about learning trading is the freedom. The more my account grows the more time I can spend with my daughter! |
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