No FOMO | $500 Account Challenge Day 16

UA is up 3% today, but don't worry, we're not feeling the FOMO! Our pre-planned stop out from Friday protected our capital, and let's face it, the market could have just as easily gone the other way. This is a great reminder that sticking to the plan, even when emotions run high, is key in trading. We exited to manage risk, and now we're focused on finding new opportunities that fit our strategy!

June 20, 2024
Meta Matt

Day 1 : Building a Watchlist and explaining the strategy
Day 2 : $PLTR Trade Idea 
Day 3: Buying $HOOD
Day 4: Up 5% on $HOOD
Day 5: Entered $UA Trade
Day 6: Trading In Puerto Rico
Day 7: Introducing Beacon
Day 8: S&P 500 Record Highs
Day 9: Robinhood Makes Moves Into Crypto
Day 10: Roaring Kitty Meows
Day 11: $GME Trade Idea
Day 12: $NIO Trade Entry
Day 13: Taking Profits In $HOOD
Day 14: Stopping Out Of $UA
Day 15: Stopping Out Of Everything

No FOMO

This is the journal entry for the trading day of 6/17

Let's talk about the ⁠$UA trade. While it's up 3% today (we stopped out Friday), there's no need for FOMO! We exited on Friday according to our pre-determined plan to manage risk. Remember, predicting the future is impossible. Exiting protected our capital, and there could have easily been bad news today causing a drop instead. Trading is a discipline. Sticking to our plan, even when emotions run high, is crucial. By following a sound strategy and focusing on the process, we make informed decisions, not impulsive ones. The good news is, we're constantly searching for new trading opportunities that align with our strategy!!

Wins Outweigh The Losses

So we stopped out of 3 plays for losses, and we had 1 play go for profit. However because of our Risk Management strategies we are still profitable!

You don't need a 100% win rate to be profitable!!

As you can see we are still profitable, we also have earned $1.84 from Webull throughout this challenge via interest for keeping our Cash on the app.

Interested In Having Jay As A Trading Coach So That He Can Teach You The Strategy He Uses To Find These Setups? Click Here!!



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PennyBois

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