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Amateur Trader's Diary - Getting Ready for the Trading Week by geekgirl

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· @geekgirl ·
$15.78
Amateur Trader's Diary - Getting Ready for the Trading Week
As I am trying to gain more knowledge about how markets work, reading the charts, and trading, I also would like build a habit of documenting the journey. This is something I have not considered in the past. Without proper record keeping when it comes to stocks I watch and trades I make, I am not able to fully evaluate the mistakes I am or will be making. So, one of the rules I decided to follow is to only participate in trading if I continue documenting the progress. Of course, that doesn't mean I would post on a public blockchain everything I document. But tools like LeoFinance help to share the journey, learn from others, and keep records for future reference. 

For the following week I would like to again watch stock picks by StockDweebs who shares 10 stock picks every Sunday. In addition to that I went through my stocks watch list and picked some that I would consider to trade. The list ended up being long. Which is good, because it will give me a better idea where I am failing to read the charts. At the same time I wouldn't be able to trade all of them. Maybe I won't trade any of them. It will depend how things go on Monday.

Below is the chart of the Stocks I will be watching. First 10 are picks by StockDweebs. Out of those ten picks I only like last three and would probably consider going long. I came up with 20 more stock picks from my watchlist. Most taking a long position, and only one going short. This is interesting to me, because last week I was mainly considering short positions. 

![trading2.png](https://images.hive.blog/DQmS99Ph3FqEDkUz3goX74ESgmSxniQFvi8GZuz6AjjVXie/trading2.png)

I am not planning to trade stocks. What I am planning to trade is stock options. Especially for short positions, I would most definitely have to go with stock options. Robinhood does not have stock shorting available. Moreover, I want to learn more how options work. To start, I will just consider only buying call or put options. Not ready for any complex options strategies yet. But they do seem interesting.

As I was writing this post, I received couple of notifications that Bitcoin price went down and that Dow futures plunged pre-market. It will be interesting how things play out in the morning when markets open. I won't be trading at the opening but will watch for the right time and right opportunities if they are presented. 

This is the plan for the week. Let's see how it goes. I am ok to stay in sidelines and watch and learn. I won't be rushing into trades. Three more rules I am will following: only trade if direction is clear, don't follow emotions like greed or fear, cut losses as soon as market tells me I was incorrect.

Stocks to watch this week: $WFC, $SAVE, $CCL, $TWTR, $DVAX, $SQ, $SDC, $FLR, $COTY, $GE, $ACB, $CBRL, $AVGO, $CMD, $EVRI, $GPS, $MTN, $RH, $PENN, $TRIP, $YELP, $HAL, $APT

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@geekgirl ·
#posh https://twitter.com/geekjen/status/1272436842248302593?s=20

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@josediccus ·
$0.31
Well I also got the notification in the price drop as well. I don't consider myself as a professional I'm only working hard to eliminate things like fear and greed I think it's one of the reasons why people making emotional mistakes. Cheers and hope it turns out well.
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@geekgirl ·
$0.02
Yes, it seems like fear and greed get in the way even when you have good trading ideas. I am reading this book called ***Trading For a Living*** by Alexander Elder. It focuses on psychology of trading, trading tactics, and money management. Really easy to read and offers good tips how to avoid fear and greed when trading. Thank you.

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@josediccus ·
$0.14
>I am reading this book called Trading For a Living by Alexander Elder. It focuses on psychology of trading, trading tactics, and money management.

That's definitely going to be a solid read, I haven't read any books on trading, but wow imagine trading for a living, too many emotions will get in the way and that's why I think this book is going to be really good, I'll check it out.
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