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If you are losing/not making money, look into the mirror and ask yourself how you are doing with these 3Ms. Thank you Detrader9.

Great Post!

ToKyoGhetto and Detrader9

The key is to eliminate psychology all together. Hard to do but can be done. The edge is that you have to trade emotion free, and eliminate the psychological effect from your entry/exit decisions. The problem with 98% of the losing traders by far, is overtrading (trading too large relative to...

In your P/L, you have very large negative pass-through everyday and you also talked about joining the trend. How do you do that without placing market orders?

TapeFighter: when you are fighting the tape, all you can do is to eat like a bird. You will be fine as long as you defecate like a bird. Just make sure you don't average down and dump like an elephant. There is another way to trade is to try to drink like a whale once in a while, hence...

Look through the 3D glasses made of "SPY" may help to see the image. They don't call it "SPY" for nothing. :cool:

Eats like a bird, eats like a bird. “Trade for living” ET member. Good points though, and your intention is well understood. Maybe we can reserve POP later for the true “gambler.

You may have to dig it out of the rubbish bin a few years from now if you want to transform yourself from a "profitable trader" to a "great trader". :p

:confused: :eek: :p

One of the most important and most useful statements of the entire thread. If you are a struggling intraday stock trader, please take this to heart, this may change thing for you forever. RN, you are a true gentleman.

NY, sorry if I get on your nerves. I only have traded for a year and I am here to learn, nothing to sell. But for sure I will not buy anything, since everything you need, let it be "not real trader" scalping or "real trader" (like you?) swinging and BLASH SHABL, are all in the open, and...

Please look into the "man in the Mirror" and see who has lost respect. Hey, I am just a newbie starts to see the obvious, which you may very well realize by now.

NY, how about instead of barking around the trees, you start a diary like Mr. Don Miller and show us the high road to: BLASH and SHABL?

Please go through Mr. Don Miller's diary. You will be get the ideas of what is obvious and what is not about day trading for sure: http://donmillerjournal.blogspot.com/

See #4 sir: Let us first consider the qualities essential to the equipment of the speculator. We name them: Self-reliance, judgment, courage, prudence, pliability. 1. Self-Reliance. A man must think for him-self, must follow his own convictions. George MacDonald says: "A man cannot have...

Rule 1 - In a losing game such as trading, we shall start against the majority and assume we are wrong until proven correct! (We do not assume we are correct until proven wrong.) Positions established must be reduced and removed until or unless the market proves the position correct! (We allow...

To be a great speculator long term, it is all in here, written more than 100 years ago by Dickson G Watts. http://www.stockvision.org/books/Dickson_G_Watts-Speculation_as_a_Fine_Art-EN.pdf

You are 100% correct. The reason 98% of day traders fail? It is so simple that it is stupid: 1. The odds for average day trader are much much worse than blackjack, consider this: You trade 200 share lot, average stock price: $20, commission $2.00/RT, spread 0.02. You hope to catch 0.20...