For those that trade, much like morning people, you might think that they are crazy. Why might you ask? Well because traders look forward to Mondays! Mondays bring forth a new week and new opportunity for investments. As the market gets ready to open you sip on your first cup of coffee, perform some last minute technical analysis, and get ready to try and profit upon the day.
One thing I tend to struggle with as a new trader is to remain calm when the market opens. In the morning especially on Monday’s a lot of stocks tend to spike and you want to buy in at the right time, but you also don’t want to jump in too early just to have the stock sell off before the morning even starts. I guess it helps looking at different gadgets within scanning platforms to see where the bid, ask, and selling prices are. I think that helps a lot, but still, I think it is just that excitement that we all have to battle with. We have to remain patient. We have to remain disciplined. I guess that is all apart of it. It’s apart of the fun!
This morning I’m going to be going over my watchlist. I still have about an hour and a half before market open. I’m going to try and see if I can come up with some new ticker symbols to follow, and maybe come across some potential opportunity for the week ahead. Within the Robinhood platform I have at least one day trade available so I’m going to try and be patient. I seem to be very drawn to day trading for one because its challenging, and two, because I like the feeling of locking in a profit that I can sleep on. Swing trading is somewhat challenging I think because it requires more patience and a different form of technical analysis. Like I said I’m very new to trading. I will continue to learn from my online mentor as well as continue to do my own due diligence in the form of reading and self educating. For all those going into the market this morning I wish you good luck. For beginners like myself, be patient and keep learning. Much like anything else it is a never ending process. Then again, that is how life should be. Forever, a learner! Good luck, and happy Monday!