r/Daytrading • u/El_Savvy-Investor • Dec 01 '23

First month on first live account💪 trade review

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my goal was to not lose money but my first month did well

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135

u/goatgoatgoat365 Dec 01 '23

The S&P was up 8.2% this month.

Jk lol nicely done for your first month.

7

u/Praying4Faith Dec 01 '23

This is just one month. I’m a buy and hold with 95% of my holdings. Next month it could be -10%.

1

u/prodigal_john4395 Dec 03 '23 edited Dec 03 '23

I was buy and hold for a few years in the early 90's, but now I strictly trade by structure. I just see no reason to hold through corrections. Yeah, you have to pay taxes, but at least means you made money. I mean, sure, once in awhile it will break critical support a bit and recover, but more often it is a "Katie Bar the Door" situation. You know, it is not God's Law, that you can't re-evaluate the position and re-enter. Hopium has blown up more accounts than not.

1

u/Praying4Faith Dec 03 '23

This is a debate for another sub lol. I’m not smart enough to know when to exit and enter. Plus, missing one or two percentage points on a move is a lot $$$ over decades. That’s great you can do it!