Newbies
I am new this week to trading on moomoo. I started with the plan of buying a penny stock or two that were bound for glory, sit back and cash out the end of the week. Turns out, that's not how this trading thing works. at all. I'm down 20% as of today and I have ten stocks of varying quantities with prices from $0.11 to $30.00 (as of today) which wasn't the plan.
I got caught up in the comments almost every time I began my DD to make a buy. Eventually I'd make a decision which made me feel like I was standing on a metronome, swinging back and forth with every rise and fall of every purchase and the taters in the comments were in control of how fast I was going.
It gets worse. I started to follow stocks that I'd sell too soon - or buy at a peak and not sell (because of the previous burn still stinging) and be stranded. Watching a stock drop is not fun when it's the third or fourth time it happens. in a single trading day.
All that said, I'm obviously learning the hard way - realizing it's not a pinball machine. Trading is more like a slow dance to great music. Learning basic steps first, then learning variations on those steps, then turning on the music with all that knowledge. Everything flows and, at the end of a day of trading, I'm ending up better off than when I started. When I take a breath and realize it's only been a week, two things happen to me. I am beyond excited to do this again next week (without the unreal expectation that any trade I make will make millions) and, I finally understand why people use the phrase, "Let's dance".
I also want to thank the entire moomoo community of traders who understand that when information and experiences are shared, everyone does better overall. C'mon Monday, LET'S DANCE!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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The eyes are blind to what the mind can not see.
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MooMamaLlama : Ok, so THAT is exactly how I felt when I started, and still do quite often! stranding yourself is definitely a thing....cant let go of those losses if there's a chance it will bounce, taking profit on all the winners too early...then buying back in too late and ending up on a peak again..stranded. Oh yes I know that feeling well! Every Sunday night I get a little excited for the week ahead, and every Saturday morning I can breathe a little, knowing that I have time to go over whatever mistakes or gains I made and adjust of needed. Patience is something I thought I had, but Mr Market likes to test that often!! Very well put
d scott aldrichOP MooMamaLlama: Thanks. I have made myself a reminder that let's me know not to sell anything first thing in the morning. It's not much however, every little bit helps!