this calendar week i've been listening to the audiobook "the power of positive thinking" by Norman Peale (1992) and is a best selling title. having got this title due to its popularity as a must read - and needing a fresh perspective on thoughts and feelings in the present moment - i dived in.
also today was $tsla earnings which i held $44k position in going into earnings, just opened last week. the market and $tsla stock sentiment all week, and today, has been negative in price action and in the press. i was down $1k this morning. i thought i may close the position, join the majority in selling on this red week/day, end the loses, and take the lesson-learned.
instead, i applied the "power of positive thinking" book to today's trade. to my surprise the book has some religious and manifestion based ideas. below is how i applied these to help me keep conviction and faith in myself and my trade choice. these include:
prayer
thanking god for his current gifts not coming from a place of lack
example: thank you god for making it possible for me to live my dreams, spend time with my family, see my cousins, and to be of service to you.
leading with faith & pure intentions
fear today showed as:
the stock
has been on its largest losing streak in a hot minute, going red every day since i opened the stock last week and is relatively flat for the last 52 weeks.
my position was down about $1k net loss at some point today
broad market sell off today
"Nasdaq posts worst day since early September as tech slides"
"October 23 was a rough day for the markets"
insecurity about my choice to do trading as my main source of income
solution:
i knew god had me because my intentions are pure - i want to spend time with my family and loved ones, enriching our family unit, supporting generations my senior and to come
visualization
i visualized myself with my earnings flying to visit my cousin for her marathon. i visualized myself happy and supporting and nurturing my family and loved ones.
results
thank you god for an 8+% gain on this tesla position i entered last tuesday at breakfast
net profit is $3,700 as of 10/23 (see snapshot below) (update 10/24 - closed profit $6K per final snap below)
my lesson here is that i trusted god, myself, and my trade choice - over fear.
update 10/24/2024: position now fully closed for a $6,100 profit. also, i closed a loss of $75 on a short call day trade (open/close today). now, visualization come to life: time to focus on my family & friends. have a great weekend.
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