Taking at least half a year off stock trading. Am finding crypto-currency easy by comparison to stock trading; so thought process is that I should just pursue the easier avenue. If I was as good at crypto trading, as I am at stock trading I would be absolutely crushing it. So that's the goal.
To be honest it's probably well overdue - as have been noting that trend for a while now.
I enjoy stock trading, and have developed domain expertise in it - so I will likely return at some point in the future. For the last 9 months or so I have had my best trading yet. Net PnL definitely doesn't reflect how well I've been trading. But for now, while crypto is easy I should be pushing it there; and it has more friendly hours for a NZ resident.
Good idea to think about the conditions that I will return to stock trading:
(1) Crypto market dries up.
(2) Stock market crashes 2008 style. I should excel in an environment like that. This will also help allocate a longer term portfolio, which is something I want to do in a crash.
(3) Another possibility is that I return to stock trading as a "swing trader". Idea being that I made it in crypto and just looking for another avenue.
Finally wanted to note some things about my process that I will likely forget:
(1) warriortrading.com a great contrarian indicator for low floats. Have had some amazing shorts by shorting the blatant pumps there.
(2) For stocks in play, stocktwits trending list is great.
(3) stocktraders.net great free website with a chat-room full of quality and/or learning traders.
Finally I am well aware that the same psych problems likely end up showing up in crypto. So will continue to work on them of course.
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