May 6 - Rookie Trader Journal 2021 - HOTH

  1 hour before the market opens...

How's my purchasing power today?
  • I can buy 3 stocks.
What's SwaggyStocks saying about Wallstreetbets ticker sentiment?
Any stocks in my Yahoo Finance watchlist to buy? 
  • None immediately. 
  • Set dip-to-support Yahoo Finance alerts.
  • Buy HOTH at $1.40? Done.



 Any tips from TraderTV Live?
  • Buy on dip from late April to early May 2021.
  • Wow, they are right. 


Question to self: How to track medical biotech stocks, meme stocks, and penny stocks?



Market opens...

Which stock in hand can I sell?
  • ADVM. Bought $4. Stop $3.47. Target $4.5. 
  • MDNA. Bought $3.60. Stop $3.49. Target $3.81.
  • METX. Bought $1.60. Stop $1.53. Target $1.90.


Crypto

See you tomorrow. 

~ Rookie Trader 

PS: I would like to thank the following...


What did I learn?
  • "Sell in May and go away" is an investment adage warning investors to divest their stock holdings in May and wait to reinvest in November. From 1950 to around 2013, the Dow Jones Industrial Average posted lower returns during the May to October period, compared with the November to April period. ~ https://www.investopedia.com/terms/s/sell-in-may-and-go-away.asp
  • Since 1950, September has been the worst month of the year for stocks on average. And when August is a particularly strong month, September is an especially bad month for stocks.~ https://markets.businessinsider.com/news/stocks/stock-market-outlook-september-worst-month-year-lpl-strategy-buy-2020-8-1029549498
  • Supertrend strategy doesn't work after an uptrend. 
  • New strategy. Fibonacci Pivot Point Resistance and Support.
  • Queue GTD for every buys and sell. 
  • 10% strategy is not efficient. 5% profit is faster to reach. Hence Change to >$100 target strategy instead. 
  • Buy quickly once I identify a stock to buy.
  • Missed SEAC spike 3 times within a week. Dropped to negative immediately after the spike. Lesson - Queue up to sell using GTD. Forget about using alerts.
  • Premarket moves are irrelevant and distracting. Stop tracking them. 
  • Buying at the market close is not a good idea. Too many premature supertrend false alarms. Stop trading the closing hour. 
  • Sell immediately if price spikes on news.
  • Missed the NFT STOCKS!!!!! Pay attention next time follow the trend.
  • Follow most-watched stocks on yahoo finance coz they are more volatile. 
  • I missed many buy signals in the travel industry. So please Monitor all related big movers every day.  
  • Remove emotion from the equation.
  • Sell. Don't hold. Don't be greedy. 
  • Sell when the target is hit. Don't hold. 
  • I need a cut-loss strategy.
  • If I don't sell, I will have no capital to buy. 
  • Stop thinking that I should have held the stock that rose 100% times up after selling. Remember SEAC. Locking the profits at hand is better than risking the opposite direction. 


















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