Hey Steemians,
Hope everyone is having a great day.
Today, I had an epiphany due to a small loss from day trading.
It wasn't a big loss at all, but it made me realize that I have been stuck in this "breakeven" phase of day trading for a while now, and I need to figure out how to get out of it and finally get to the "profitable" phase.
I have always believed in setting rules for yourself as a day trader, but I never executed on them consistently.
Here are my 3 rules for the next 3 weeks:
Rule #1: Only trade Cup & Handle pattern
Rule #2: Only enter long after seeing consolidation
Rule #3: No long entries from 8am-10:30am PST
I will follow these rules for the next 3 weeks and evaluate my performance.
If I feel like they are not beneficial to me, then I will adjust them, but only after 3 weeks of absolute adherence.
Aside from trading, I also believe setting rules in other areas of life can be extremely beneficial as well.
If you have been struggling with weight loss for a period of time, then maybe setting a rule to walk 10,000 steps a day for a month can be a great start to achieving that goal.
Same concept can be applied to any goal you would like to achieve. Set rules/ guidelines for yourself to follow and adjust them as you go.
Let me know what rules you set for yourself.
Get more upvotes by joining Steemfollower!
Earn more SBD by selling upvotes to Smartsteem!
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by allenaxie from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.