Stock trader: I want to be a good trader - Day one

 Sept. 18, 2020

Introduction

It is not easy task to choose to be a good trader. I have to set alarm at 6:20 AM and get up early since market opens at 6:30 AM.  I like to work on my goal - be a good trader. 

Be a Good Trader 

It is tough for me to be a good trader. I have to work on a list of things to make improvements. 

Last six months I already work on stock investment by myself. I have to stay consistent, and do not feel frustrated with my own mistakes. 

My mistakes can be a few things in very simple format.

1. Do not get too excited. Stay calm all the time. 

2. Money management skills - Avoid big loss - this is tough part, it is like psychology problem. When big loss hits, I do not act enough to stop loss. I need to figure out how to stay alert. 

3. Understand passive investment and short term investment. 

I choose to be realistic, do not think about long term investment too much. Focus on short term, 1 to 3 months, and also build good habits as a trader. Trade often, and trade small positions. Learn to set stop loss, and also work on more trades. Even small positions, like a few shares, I need to take profit in time, and get back in when price drops. 

I also need to learn more business, trade more stocks in various business. I should learn quickly, read articles about business, try different tools, and come out some marketing ideas to motivate myself to continue. 

Move focus from gains to be more educated person. So that I can easy build a good role model in my life, and live happy life and also believe that as long as I can survive long term, do not lose my capital, I will find ways to make money, build wealth. 

Do not talk about 7 even, 2 loses, 1 win in stock investment. Try to be positive, and also work on business side. Vote on my opinion on market, and use small profit to show what is wrong or correct as an investor. 

Day one

My Ameritrade.com - Balance today - Sept. 18, 2020, gain less than $500

My TFSA account - Balance today - Sept. 19, 2020, loss $2000 dollars. 

Big mistake - Do not stop big loss, I need to work on my psychology problem. Take action quickly. Do not relax since I had near $5000 dollars gains on TFSA, and place a big bet and lose all of them. I panic, and sold all positions. 

Market is downward swing. It is hard to take risk to stay put. I can choose other opportunities to get back instead of waiting for those positions: SU.TO, IMO.TO, HSE.TO, CVE.TO.