Back To Swing Trading | $500 Account Challenge Days 74-131

Day 1: 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
Day 16: No FOMO
Day 17: 6 New Trade Ideas
Day 18: Entering $ACB Trade
Day 19: DXY Says To Stay Out Of The Market
Day 20: "Shoulda, Coulda Woulda"
Day 21: $CCL Hits Target 1
Day 22: Trading Psychology Book Club Week 1
Day 23: $NKE Earnings Play
Day 24: Adding Day Trades To Our Watchlist
Day 25: Learning From Our Mistakes
Day 26: How Our 4H Candle Strategy Works
Day 27: Why I Am Bullish On $TKO
Day 28: Celebrity MemeCoins
Day 29: Stocks Near Our Entry 
Day 30: TheStrat
Day 31: Coaching Program Season 2
Day 32: $SWBI's Funky Chart & $TKO Entry
Day 33: Month 1 Portfolio Review
Day 34: The Importance of a Coach
Day 35: $NKE Trade Entry
Day 36: Positive Trading Mindsets
Day 37: Time To Go Cash Heavy?
Day 38-48: Traders Paradise Conference In Florida
Day 49: TraderSync Overview Of My Trades
Day 50: Day Trading $UBER
Day 51: Learning A Valuable Lesson About Day Trading
Day 52: Going To A $TKO (WWE) Event
Day 53: Practicing Support/Resistance
Day 54: Going Over The Past Trades
Days 55-59: Day Trading Roller Coaster
Days 60-63: Day Trader Loses $50K Story
Days 64-68: Adding Dividends Into The Mix
Days 69-73: Overcoming FOMO

Bonus: Using TraderSync To Track My Trades For This Account

-Looking For A Trading Coach?

-Check out the list of our Social Media Trade Ideas!!!

Back To Swing Trading

So we have had 57 trading days since the last $500 Account Follow Along Blog Entry. In our last entry, I was only holding $TKO at $104.45, and was day trading $HOOD and $UBER options contracts. As you might remember, I had a couple close calls with the day trading (see day 51), where an over-allocated contract almost destroyed the whole portfolio. Those first two close calls were strike 1 and 2, and on 9/20 we had strike 3 (see the pic below).

When someone feels threatened, they enter fight or flight mode. For me, losses aren’t threats because I look upon them as lessons. Those who let losses become threats turn to fight or flight mode after a loss, and this leads to irrational behavior or trades, or quitting. Luckily this loss isn’t everything and can’t break me, because trading isn’t everything to me. I make sure to balance my life portfolio, just like we diversify our trading portfolios. Luckily I have other things going on like an amazing fiancée, hobbies I love, and of course all of you and my mission to help people via my work here at Pennybois.

Broaden & Build Strategy

According to the Broaden and Build Strategy, one big reason we get caught up in P/L, is because we don’t have enough other positive things going on in our lives at the moment of the trade. We here at Pennybois talk all the time about diversification of assets. For example having some money in crypto, some in bonds, maybe some in dividends, some in stocks, some maybe invested in your house, etc. The idea is to be diversified so that if one asset or investment goes down, it doesn’t ruin you because you diversified into the others. Just like with stock sectors. Most investors will diversify, instead of going all in on one sector like healthcare, they will diversify into different sectors, so that if healthcare stocks all go down due to some news, the investors whole portfolio doesn’t go down with it. Well in the same sense; it’s important to ask ourselves… How balanced is my life portfolio? I’m talking about hobbies, relationships, work life, social life, spiritual life or physical health for some. Diversifying your emotional capital is so important, for when trading or a few trades don’t go well. If I lose money from a trade, it’s just one piece of my life. Of course I still want to learn a lesson from it, but because I have diversification with my emotional capital. I have hobbies, a fiancée, family, friends, and a job that I love trying my best to help people. I feel like my personal emotional capital is diversified into many different things outside of just trading. Trading doesn’t define me, so missing out on a trade can’t define me. I’m able to let the loss or missing out be a lesson and not consume me. If we put all of our energy and focus into trading, we lose that perspective, the bigger picture perspective. If we focus only on trading and P/L, we could become vulnerable to emotions. Trading is important, but it’s not all important. We care about Learning P/L, not just Portfolio P/L And we have a P/L based on our life activities and emotions capital. We diversify our energy spend in life, just like we do with stock sectors.

A Lucky Break

I took a month break from trading this account, only holding my $TKO position. In October in a random turn of events I got $120ish worth of free stocks from a Webull Promotion. I ended up selling all of the free stocks.

$TKO's Drop

$TKO dropped from the $130 range to the $115 range after the news dropped that they were buying IMG, PBR and On Location. Click here for our blog on the whole story.

Now even though all the charts were showing bearish signals, to the point where two of our staff members put out Trade Ideas that had $TKO going as low as sub-$100, I still decided to hold my share and keep my bullish stance on $TKO. I was looking beyond the charts, instead looking into the company and the news. You can read our blog on it by clicking here. Most investors saw this as a bad move, however knowing Ari Emanuel (CEO) I trusted his decision. As you can see $TKO recovered nicely, and is now at the $138 range.

Social Media Trade Ideas

I started Swing Trading and Tracking our Trade Ideas that our Coaches put out using our Social Media Channels. You can click here to find the full list!! I also post all my trades in our $500 Account Follow Along Channel in our Free Discord in detail.