Sept. 10, 2020
Introduction
As a beginner, I have to force myself to learn. I already lost all my six months earning over $6,000 dollars. I need to learn stop big loss. Never allow $400 dollars losses on my TFSA account in a day. Today I had over $3800 dollars loss.
Stop loss - a beginner has to be humble
I have to document this problem, and remind myself never make this mistake again. I lost IMO.TO one day near $882.61 dollars.
It is a bear market right now. I have to take risk, do not worry about missing out. Save my original capital. If I like to make money, I have to make it short, less than a few hours, take a full day off to watch the market.
I need to build a simple habit to stop loss. If there is over $100 dollar loss, then I have to quit the market.
If I like to learn day trading or short term trading, I have to avoid big loss like today. It only takes me less than 5 minutes to set loss. I should not worry about missing rebound or something else.
I am a beginner. Do not set position too big. I should only allow myself to play with gains. Less than $6000 dollars.
Actionable Items
Never allow myself to lose more than $500 dollars on my TFSA account in a day. I need to set trail stop limit. I swear to obey the rule. Time: 10:29 PM, 9/10/2020.
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