There are two possible colors of your portfolio in the market, either you have the red or the green one. Most would definitely go for green but fails because of impatience. To make money in the market you also need to equip yourself with "patience".
That was me 4 years ago with a bloody port (above image), which you as an aspiring trader must not undergo such experience if you manage to read some of my posts and be able to do some basic money management then perhaps you can do better.
I mentioned some bad habits regarding overtrading but sometimes you can break some rules only if you know what you are doing.
You don't need to time the market, you just need to get a good position with the aid of your chart, but before you get a green portfolio there is a twist and that is to absorb some losses at first and let the market do the job as you smoothly ride the trend.
Sample Portfolio:
As of October 21, 2020 started to position myself for some selected stocks as I want to grab as much as I can as there are many opportunities from the market based from what I saw.
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Follow through October 22, 2020 so far so good as the market is on my side with my stock picks or I would rather say I am on the right side of the market.
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Fast forward on how my stock picks managed as of October 31, 2020
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Follow through as of November 3, 2020
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November 9, 2020 update
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November 16, 2020 update
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November 21, 2020 update
➤disposed one stock will try to re-enter again as the big picture is not yet attractive as of the moment
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How I pulled this off ? Try to look at a higher time frame and search for the strong support it created and check with your daily if there is consolidation taking place then set your order within that range.
It takes some patience to get rewarded and not worry too much on the price fluctuations as long as you are targeting stocks that are about to make some reversals or with strong momentum.
To give you an idea on the first stock with 15.12% on October 21, 2020 is ACEN, go ahead and check it out from chart where I have started to make a purchase and later started to sell in tranches and got another stock in replacement.
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Check this out to help you position yourself early before the breakout.
Happy hunt on your stock picks.
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