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thx 4 the like

Here is something to think about: sometimes a perfectly good trade loses because the trader panics and gets out at the first sign of correction, or has his stop too close the "opposite" to his trade might just be to have a stop farther out

Trading under-capitalized is like going into a knife fight with a banana. Better to have traded and lost than never to have traded at all. If you are a beginner and you blow up your account, you just paid the price of admission for the first time. Now you can either get more money and try...

Why stop at one year? Keep making 10,000% per year! Year 1: $1000 into $100,000 Year 2: $100,000 into $10,000,000 Year 3: $10,000,000 into $1,000,000,000 Year 4: $1,000,000,000 into $100,000,000,000 Year 5: $100,000,000,000 into $10,000,000,000,000 Year 6: $10,000,000,000,000 into...

all joking aside, i just got out, and it hurts.... will hurt even more if i got out at bottom of the day, but looks very, very bearish

It takes some guts to make a prediction. If the guy is right he gets a little credit, if he is wrong, he is lynched. I am very appreciative that autodidact took the risk to start this thread, and I hope there will be a lot more of these types of threads. Multiple heads are better than one. But...

I am long for a bounce. Somebody here predicted SPX bounce at 1880. Who was that?

got out of my SOXL, close to breakeven...looks like dead cat bounce so far

Added more SOXL. I don't do well riding out pull backs. Might liquidate most or all position tomorrow or Thursday and then look for another entry. Edit: yuck, might get out today, too. Hopefully will just close gap and bounce.

War is good for the economy....bad for everything else. A world war would send that line on the chart up. 'Course a lot of ships might sink too.

I started scaling into SOXL about 20 minutes before close. Will add on tomorrow if today's high of 20.50 is breached.

Hi, dratsum, Vidalgo expanded and he makes perfect sense to me now. When I first read his response it sounded like trading platitudes: "I might go long, I might do short, all depends." For a day trader that is so very true. Yeah, I suppose there are valid reasons for every market condition...

Fair enough, V, u explained yourself well. Thanks.

yeah, Vindago, hedge yourself in every way possible: "depending on everything else happening that moment, and how traders are responding to it"...that way no matter what happens, you seem to be right.

Revenue $1.62M Net Income $-22.08M Are you saying this company is profitable? NO. Could be a good trade, but this company loses money like a busted dam.

Manage risk on every trade (up to 3% for swings). Maybe add on when it moves in your favor. Let stop loss hit when it moves against you.

I agree with you, Autodidact. So many people going short now. Their panic covering can fuel a great rally.

I will be looking for a white candle daily close on SPX to start scaling into SOXL (will feel more confident if it is breached to upside the next day). Might go long a tiny bit with some kind of intra-day bottom on Monday, such as a 2-hour hammer that gets breached to the upside.

don't bet the farm!

Friends and family members will say that traders LOSE their money, that it is just GAMBLING, negative stuff like that (and perhaps with some painful truth?). It is no wonder so much negativity shrouds trading. 91% of traders are losers; the goal is to get into the 9% club. As a newbie the...