Help and guidance
I really didn't want to write this post but I feel like I need some guidance or some ideas as to where I am going wrong....
I've always been dabbled in trading over the years but never full-time and I believe you really need to fully invest yourself fully in something to be able to master it.
So about a year and bit ago I was let go of my job, which was a good opportunity for me to take time of work and really think about my next move. I took over a year out to focus on young family and just not do anything as I've always worked in my life. I still read and continued my learnings on the trading side a little but never full time.
This year at the start of May I started fully focusing on trading and spent countless hours trying to hone down on my strategy. My strategy is basically buy strong stocks in hot sector, which are consolidating and buy either on the pullback or breakout. In June I had great success but terrible in July. August was also great but I had reduced my size so much that no meaningful gains were made.
Now here is the issue... and things that I struggle with...
I am aiming for home runs all the time. I have had 5R returns turn on me and take me out consistently. Is that normal? What are people aiming for in terms of returns?
I struggle massively with picking 2-3 stocks on any given day, FOMO makes me pick up to 10 sometimes and I may not buy all of them but I try and enter as many as possible so I don't miss out as I've noted many times that the stocks I drop off my list are the ones that make massive moves!! How do people handle this aspect of trading?
I also for whatever reason find myself in stocks which are slow on the days I buy them even though the may have great setups and more than 2M average volume.. How do you make sure the stock you will pick will be big on volume on that day?
I am not giving up (just yet) because I know I've mastered at least my position sizing, risk and not getting emotional and moving my stops. My entries are okay but the biggest issue profits turning into losses and quite possibly reading the market wrong at times and then going the other way when I should be going with the market. Obviously it's easy to see afterwards.
It's also such a lonely job. I wish I had someone to talk to or discuss ideas with as that will be soo productive and useful. Bouncing ideas of like minded people. But I find no one wants to talk or meet it seems. Do people here meet or have groups they work in every now and then? In the Oxfordshire area especially? I'd be keen to know how people deal with this side of things.
Heck if there are people who want to meet, I will even buy you guys drinks and dinner haha