Cutting losses short should be subjective
- Thread starter lbradman
- Start date
Hi,
I am new at trading too, and I can identify with experimenting with where to put stops. I too have put them too close only to have my stock sold and rise again. So then I let some ride, thinking that I needed to be patient and wait a few days. But, if this market is headed down hill, I could be waiting a few years for the same stock to come back up hill.
It was easy to make money until last week.
And now I am using my Thinkorswim paper money (fake money) to test new ideas. I am also going to limit the number of real trades I make so that I have time to learn this new market without learning it in a panic.
I am new at trading too, and I can identify with experimenting with where to put stops. I too have put them too close only to have my stock sold and rise again. So then I let some ride, thinking that I needed to be patient and wait a few days. But, if this market is headed down hill, I could be waiting a few years for the same stock to come back up hill.
It was easy to make money until last week.
And now I am using my Thinkorswim paper money (fake money) to test new ideas. I am also going to limit the number of real trades I make so that I have time to learn this new market without learning it in a panic.