So if you read my blog from yesterday "How I build my stock market watchlist the night before." The stock I was looking at and analyzing was CLNT, it didn't have news on it but I said it would potentially get some news based on the post market spike, witch it did this morning as you can see in the news box on the top left corner in the picture. I was also thinking it would run, I didn't know how much but it ended up going from $4.11 to $6.99 a share in the first 40m of the market being opened that's 41%.
Identifying stocks with this potential is easy once you learn what to look for and have the tools needed to find them. Today I made about 5% on this stock because I just sold really early, I'm happy it was a win but I could have made a lot more. Trading is a performance based activity. When your in a trade emotions get in the way, and I think in ways you may not think of.
I feel like every day I'm a little bit different, at least with how I feel in general, some days i'm care free and can hold a few hundred shares of a stock this volatile without even almost looking at the chart, then other days I will be watching every tick on the 1m chart and I may only have 50 shares of that stock. Its incredibly difficult to approach the market the same way everyday, but consistency is the key to success in this game.
Another thing I don't think people understand about trading is that you have to develop good intuition and that can only be achieved with screen time, a good education can certainly shorten the process but there is no substitute to actually practicing everyday.
My advice to anyone new coming into trading is to take it really slow, don't go big too fast, learn everything, make every mistake while your account is small.. and hedge your day trading with some investments that you believe in, oh and don't trade your investments, if you think a company or crypto coin is going to be really big in 5 years then you shouldn't even worry about what it is doing today, this week or month, plan to not even touch it for that 5 years or longer, also when it comes to investing don't worry about getting in at the bottom, just get in if your that bullish about your investment, then in 5 years that high that you think its at today will actually look pretty low in the future.
good luck and thanks for reading.
