Day trading questions

[cashmoney69]

It's been a week now, maybe not enough to measure success,

but I'm a litte lost as to why I've lost money 5 of the 6 days I've

been "In business".

Some of the things I always do:

1. Set stops (Usually .25 to .60)

2. Look for good set ups

3. Sit on the sidelines most the time

4. I never "over trade". I lose x amt of money and stop

5. I tend to trade the same stocks on a daily basis ( RIMM, TNH, GS, AAPL, GRMN, SNDK, VLO, OIH, ICE)

... yet I'm still losing.

I guess my questions are:

1. What are some of the things I might be doing wrong that many traders over look?

2. Are my stops too loose for day trades?

3. Should I trade more to take advantage of the days action?

 

[mde2004]

bottom line, you are a losing trader. You have no edge and should stop before you blow out punk ha.

 

[cashmoney69]

Quote from mde2004:

bottom line, you are a losing trader. You have no edge and should stop before you blow out punk ha.

Hows your paper trading going asshole?

 

[mde2004]

Up over 20% this month in my trading account, real money asshole.

 

[cashmoney69]

Get off my thread and go do your chores.

 

[stockerup]

Cash,

What is your typical share size?

 

[JK124]

Quote from cashmoney69:

Hows your paper trading going asshole?

Just put him on your ignore list. I did it the first time I read one of his posts. And please!!! Stop quoting his threads (the only way I see his posts) I feel dumber every time I read anything he writes.....

 

[reno4nook]

your stops seem a bit tight to me for someone who 'sits on the sidelines'

fwiw...my returns have skyrocketed since I have supplimented day trading with options swing trading.

consider using multiple techniques and stategies to hedge your risk.

 

[stockerup]

In looking at your post again, I would suggest laying off stocks like aapl sndk and rimm-- you need to refine your strategy before trading stocks like that-- especially if you're putting on a .25 or 60. stop.

Pick some slower moving stocks and cut down on your share size till you develop your strategy better.

Hope that helps.

 

[ggoyal]

trading a stock like aapl or baidu with a .25 or even .60 stop is always going to make you lose money.

obviously these stocks have a high dollar amount so they fluctuate 4-5 dollars everyday. if a stock is trending up or down aapl or bidu or wtv high priced stokc it is will fluctuate 3-4 dollars. it rarely goes up or down in a straight line( hence stop ineffective).

so my advice to you, when u see a strong trend, dont put a stop of .25 or .60. u have to be little more of a risk taker if u see a trend. just let it ride for a little. check up on it every 30 minutes or so. now a .25 would be a good stop on a 4 dollar stock, but on a 125 dollar stock thats .2%. you will always get stopped out. even .60 u will.

if you have been losing money for this long( from ur no. of posts) try to trade some stocks in the range of 4-25 dollars. also, when intraday, dont just look at the day's trend, also look at the past 4-5days. if the trend supports it, go for it, but after making some u must get out.

even if i had 500,000 dollars to trade with, i would barely look at aapl or bidu. i like stocks better with prices of 4-25 dollars.

but this is me, im not the best.