Achieve Weekly P/L Global Top 20% - Positive Return Challenge Review #6

Finally, I managed to achieve the Weekly P/L global top 20%. It also implied that I clinched all the 6 Learn, Trade and Win achievements - Leaderboard, Prophet, Consistent Gainer, Master of Guesses, Market Explorer and New Challenger.

As I'm new to swing trading, the above achievement is hard to come by. Although the reward earned is small - only USD 1.6, the learning experience is invaluable. Below is a review of my experience:

1) You need to identify a suitable stock. I seek advice and choose a value stock.

2) You need data to help you predict the trending direction of the day.

3) You need to know the time to enter and exit in a volatile market.

4) In other words, you need to define your trading goal and stick to it - small gradual gain in P/L weekly.

Challenges:

Lacking data to forecast the trending direction and to decide a suitable time to exit are my 2 main challenges in this Papertrade Competition. I think lack of experience in selecting a suitable stock was the main reason for my negative yield in the 2nd week. I also didn't expect $Tesla (TSLA.US)$ to surge (+21%) after the Q3 earnings. Learning from others on swing trade in the chat group helps but you need to find someone who is willing to share.

Link to previous review:
How to earn >500 guessing points Positive Return Challenge Review #5