Well it’s been an interesting start to Monday morning, also being the final day of November 2015! Where on earth has the time gone?! Time waits for nobody!

Any way the fantastic news is my brokerage account is live, and is now ready to commence trading with real money! Holy cow! It’s only taken about four weeks to get that sorted!!

It has been a learning curve though and it has also been good for me to be waiting to trade with real money, as it has focused me to concentrate on making consistently good trades, as opposed to rushing in and trading as quickly as possible!

With the 4 paper trades that I made last week it has put me in a much better and more confident position to trade with real money. I can’t say it enough, but you MUST learn to trade consistently well with a set of rules, and profitability will happen naturally. Paper trading is an excellent place to start.

~Learn to trade consistently well with a set of rules and profitability will happen naturally~

So Here’s What Happened Today

Well I was prepared and ready to paper trade before the market open today and I had 6 penny stocks on my list to watch, waiting for action and possible breakouts on any of them. I did not realise that my real money had been transferred into my brokerage account until mid-day, and that’s ok because I was in no rush to trade.

It does not matter if I’m right or wrong on my picks or thesis, but I like to document my findings and methods that work for me as a way to improve and look back at how things have progressed.

So here’s proof that I was on the right track again today!

I’m not sharing proof of what I thought or said in order to show off, but I merely want to prove that it is no coincidence that I had my eye on this stock at the right time.

I particularly spotted $HART on Friday 27th with a steady bit of movement occurring, but with no real decent amounts of volume that day there was no trade to place.

However it was by analysing it a little closer that got my attention, as I noticed there’s a good news release on it that is going to happen on Tuesday(tomorrow).

So with the “Anticipation” of a possible reaction to this news release, I was eager to keep my eye on it.

It is Timothy Sykes that I have learnt how to do this from and I continue to learn more and more every single day.

So here’s what happened to $HART today:

Although I had my watch list ready and prepared ahead of time, none of my picks made much movement in the way that I had prepared that they could, at least not right away.

Due to little action occurring on my picks, I took my eye off the ball and focused on $AVXL and $WGBS as these were the two stocks that had the most pre-market movement with volume increasing.

Unfortunately once the market opened neither of these two stocks did that much, and there was no way of entering a trade on either of them as my rules and strategy did not synchronise to make a quality trade at all.

Having taken my focus off my main picks of the day, I had completely forgotten about $HART so I could not get as good a read on it once I returned to check on it.

Once I returned to check on $HART it was just at the $2.40 area just after the morning dip. I was eagerly watching the chart of candles and my level 2 screen, but I noticed that there was not overly all that much volume happening and the price action was relatively  weak.

It was also due to the fact that the initial price increase before it dipped was relatively weak, so this was giving me signals of an overall weak demand for it.

I also got distracted by seeing a comment in the profitly chat room, with one person saying not to chase it just as it broke past the $2.50 area which put me off a little also!

It is ok though as this simply put my belief in my mind that with what I thought was right also; that this movement was weak!

When $HART broke out at $2.50 with solid volume, it rocketed to $3 very quickly and $3.10 soon after, but then it started to dip and went as low as $2.77 and found support at $2.80.

I possibly should have dip bought at $2.80, but with initially missing the earlier opportunity I was already lacking conviction on this stock overall and simply didn’t like what I saw and basically chickened out of placing a trade on the second dip buy!

I believe that you MUST accept missing trades, as you are NOT always going to be right and chasing them to try and catch what you missed is destined for disaster with the emotional effect of defeat!

~You MUST accept Missed Trades & Losses, but Learn form them as much as you can~

If you look at my previous post with my fourth paper trade explained on $RPRX, you can see the difference in volume and the degree of strength that there is before the potential dip buy compared to that of today’s missed trade with $HART.

All in all the market was rather Bearish today and not that many opportunities for me to trade on long positions, but learning from what has happened to $HART today has given me even more knowledge on what to look for in order to place quality trades.

So Here’s What I’ve Learnt Today

• Accept that you will miss trades
• Accept that you won’t always be right
• Stay FOCUSED on your own trades/picks
• Trade with conviction
• If in doubt, DO NOT TRADE IT!

Ok so although there was no trades placed today, I learnt just as much by understanding what happened and where I went wrong, as well as what I need to improve on.

With my brokerage account active and my real money in position, I am now ready to commence trading penny stocks for real profitability with consistently good trades…… This is what I’ve been working hard for and training day and night to do, so it’s now time to put my training to the test and launch this space ship to places that most people think are impossible to get to!……