What a wild ride 2014 has been. From my account explosion in the October plunge followed by the relentless siphoning of the biggest rally in 100 years that almost wiped me out. They have not all been victories but in TWTR,NFLX,TSLA, PLUG,KNDI,CNET,HDY,GTAT,AVP,YELP,GPRO, etc.. I have made some brilliant calls!
I have learned much: Primarily what I have learned is that to succeed in this game you must be patient and disciplined. Even if you end up being correct, things take much longer to play out in the market than you anticipate. When the game is in play you never know what is going to happen, therefore proper risk management is imperative. It's one thing to be right, it's another to actually make money on your thesis. I lost money in both KNDI & GTAT because they pulled short squeezes, freaked me out, I lost my composure, got scared and covered near the top. Had I been patient and stuck to my guns I would have profited immensely on both of them. Hell, GTAT ended up announcing bankruptcy out of the blue one day and wiped over $1B in capital!
I have had great mental victories. I received so much hate for my GPRO thesis that just being around certain people became emotionally draining. However, with GPRO I stuck to my guns the entire time, never flinching and ended up destroying my advisaries in the most satisfying victory of my trading career to date! Jesse Livermore knew that to be successful you must believe in your capabilities to the fullest. Never take a tip from someone else, never take a trade that is not your own. If you are not absolutely confident, you will manage the trade wrong and are likely to take a loss where there could be a win. Trust and believe in yourself and your capabilities always!
There are good people out there. To be successful, you must surround yourself with dedicated and passionate people who love what they do. I started my trading career going at it alone. Along the way I have encountered various people of all types and have learned something from all of them. Be a good person and strive to constantly make new friends and connections. Ignore the trolls and align yourself with people who will take your game to the next level.
Believe in yourself and your thesis but don't ever let greed overtake you. When you are making money all you want to do is make more. However, I have let many profitable positions slip into losses by not banking what profits I had and greeding for more. 'Do not go past the mark you aimed for, in victory learn when to stop.'
From the depths of the November lows, I have increased my account over 70% in a month. This is only the beginning. I learn more about the markets, myself, strategy, and making money every day. I have no doubt that in time I will grow my account immensely and make my fortune through these markets. Every day is a new day and a new opportunity. The world is yours, conquer it!
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