When I first started writing Stock Market Made Simple, and Foundations of Stock and Options blogs, my understanding of the stock market was passing at best. I had been around Tradesmart University off and on for years but failed to do any actual trading. I knew all the terms and keywords surrounding the stock market, but that was as deep as my comprehension of the topic went.
Then I started writing these blogs, and the great thing about writing is you have to write what you know because if you don’t know or understand the topic at hand, then your writing will come across as hollow and devoid of any real substance. So, I made sure I fully understood the topic at hand before my fingers even touched the keyboard. This meant I attended live Foundations classes with Josh teaching. I watched the same class recording three or even four times as I searched for what impacted me the most in each session, and I put those thoughts out there for all of you to read.
By the time I finished Foundations of Stocks and Options level 1, I had written seven blog posts covering the following topics: Breaking Down a Stock Chart, Support and Resistance a Framework for Trading, Buying Long and Selling Short, Trend Lines, Moving Averages, Introduction to Stock Options, and The Anatomy of Options.
At the same time, I started using TradingView for virtual trading. If you have yet to open a virtual account, I highly recommend you set one up here, as you have nothing to lose and a world of experience to gain. My focus with virtual trading was learning to open a trade, close a trade, set stops on my trades, and plan my exits. If I made profits along the way, that was great, but gaining experience was the primary driver.
Also, it should be noted; I had one trading strategy while doing this. I watched to see which way the stock was trending first thing in the morning and if it ticked twice or three times in one direction regardless of up or down, I set a trade in that direction. I dubbed it the ‘ride the tide’ trading and which benefited from the recent volatility in the market. Granted, that is a simplistic strategy, to say the least, but again, it is virtual money, and all I wanted to do was learn to trade and keep as many of my trades as possible in the green.
It should be noted, Josh has a few ethos statements that he uses to define the company culture at Tradesmart, and one of them is rigorous authenticity. This means we are authentic and truthful with our students about our successes and our failures. To that end, I am posting every trade I made while writing the FOSO Level 1 blogs. Most of them are small gains, but they what they truly represent is, even with the limited knowledge I have from only taking Foundations of Stocks and Options Level 1 classes, it is proof you can make money in the market place if you take the time look, watch, and listen.
Join us next week, where we drive into the next chapter of the Foundations of Stocks and Options with a look at class 1 of FOSO level 2. Thank you!