So I have been at it for 2 months. I try and try, yet no luck. I look at everyones blotters and I notice that the Net Amount of PnL is about 1-2 pennies for every share traded. Now I notice some people hit a few stocks most being about 15-20. Also, some people hit 5-10 pennies per share(RM & Nysekiller).
So for the average shlep like myself the goal should be 1-2 pennies on alot of shares. What I don't understand and maybe someone that is profitable could explain this to me.
Are you in and out of trades all day long (ie someone who swings 1000 shares a shot and does 300k total have 150 RT) or are you making a few trades with huge size? Just curious, I think this is the mental piece I am missing. I was trying it off charts and trying to average 10-20 pennies a share. Alot harder than it looks. I guess another way is are you hitting 5-10 stocks with positions in all of them and just managing alot at one time (average profit being 1-2 pennies a share)
So words on this would be helpful. I am lost in the ocean, and I can't find anyone to point me in any direction. I don't like to do anything until I understand the math behind it. Just the way I am built. Thank you all.
B
So for the average shlep like myself the goal should be 1-2 pennies on alot of shares. What I don't understand and maybe someone that is profitable could explain this to me.
Are you in and out of trades all day long (ie someone who swings 1000 shares a shot and does 300k total have 150 RT) or are you making a few trades with huge size? Just curious, I think this is the mental piece I am missing. I was trying it off charts and trying to average 10-20 pennies a share. Alot harder than it looks. I guess another way is are you hitting 5-10 stocks with positions in all of them and just managing alot at one time (average profit being 1-2 pennies a share)
So words on this would be helpful. I am lost in the ocean, and I can't find anyone to point me in any direction. I don't like to do anything until I understand the math behind it. Just the way I am built. Thank you all.
B