Earlier this year I was looking at different stocks to day trade and I did pretty good. My good winners were Cruise lines (CCL,NCLH,RCL), Credit cards (DFS,AXP,MA,V) and restaurants.

For someone who is very new to day trading, I did a ton of mistakes but I also did a ton of good gains. 90% of my plays in March and April were just pure luck. I had no idea what I was getting into just like everyone else. No wait..I’ll say all my trades were dumb luck and FOMO YOLO.

Again I do not give any financial advice and this is not a recommendation to a buy or sell stocks. This is purely for educational and entertainment purpose. 

I ended up putting a good % of my portfolio in TSLA. More than what a “smart” trader would do but I’m at a point where I know where to plan my exits etc.

This happened accidental as I did not even want to touch Tesla at all since it is not a cheap stock.

All my friends thought I was crazy

I don’t think I was crazy because I know a GOOD amount of people having 100% over their portfolio in really risky penny stocks. I’m still managing my risk and if I lose all my gains I don’t care. I played the stock game just to make a few hundred bucks a month. I never wanted to become a day trader at all.

Below are my 4 entry points. The first 2 was very bad and the 2nd batch was just a day trade.

More than 80% of my TSLA shares are in $842.15 and $828.45.

1st and 2nd entry below – DO NOT DO THIS

So this is a HUGE rookie mistake. If I took the time to read the chart I would have not entered there at all but I got caught up in the moment. However in my mind, I wouldn’t have worried so much because Tesla’s drop to around $750 was still within my risk tolerance. This was my stop loss, even if it went down to $725 I would still be OK as I’d still have good gains from the stock market rally.

The 2nd time I was getting tired of Tesla so I told myself I’d buy the shares again so I can average down but……

NEVER AVERAGE DOWN.

Again look what happened when I did that? The stock dropped once again. So now I’m down double the size I should have. This is why you never EVER do this. I learned it this time and got so lucky. I was still betting on Battery day and told myself I would hold it until after battery day which was supposed to be in June. Figured the stock will probably hit $1,000 and I’ll just make my exit.

Then….Space X happens

The Space X Launch has nothing to do with the stock but since my new best friend Elon Musk runs the shop, this also was a good catalyst. Once this popped over $900 I felt like I was in the clear and if it dropped again I’d just hit the stop loss and lose NOTHING.

After that launch, this crazy stock just kept rallying. This is where I decided to keep this stock for

…One Year for tax purpose.

I decided to day trade and went in at $1277.48 and $1341.99. These shares will not do much as it’s a small position vs what I have under $900.  I ended up holding because I realized there was a lot of MOMO behind it. I will probably get rid of these ones after battery day or if stocks tank.

These ones also have a stop loss on them.

So…TESLA earnings will be this coming week 7/22 and we’ll see what happens. Again if this drops and loses all it’s gains I’m perfectly fine as this is not my only income.

I’m just playing this game and if I never went in the stock market this year, I would not be blessed with my gains.

I will update this post within the week and let’s see what happens…..