My First Paper Trade + Video Analysis · Day Trading for Beginners

My First Paper Trade + Video Analysis

I put on my first paper trade and wanted to share the analysis with the group. I have outlined the analysis in a video you can watch here in the Trading Strategy Course under The Great Mattsby section. I will link the video to this post as well.

In the video I explain the analysis behind the trade. I entered PLTR at 36.84 and exited at $40.35 a few days later.

A couple considerations about this trade:

This is not a day trading strategy as mentioned previously. However understanding market symmetry seems like a great skill to acquire and that is what this strategy entails.
I am a beginner, therefore this is NOT going to be great analysis. I'm still very much learning how to use various indicators and tools for this strategy. My analysis could certainly be wrong and not precise.
I exited the trade without clear indications that the stock was not going to continue to go higher. With this strategy selling at resistance is important, however I may have exited too early.
This is not financial advice.

I would encourage you to take action and actually make some paper trades if you haven't. Making trades like this and trying to explain the analysis and thoughts behind the trade has been very helpful in my overall understanding. You obviously don't need to post videos to the group about your trades (you can if you wish), however you might find sharing / discussing your trades to be helpful.

It's so easy to watch other people analyze and trade stocks. They make it look so easy. But like anything you need to practice and fail to get better. So would encourage you to start making some paper trades and share them with the group if you wish.

* I hope to create a module specifically about Gann Theory in the near future and will add it to the Technical Analysis Course*

12 comments