Do pro traders still feel that way? When I got stopped out at the low, I am so mad and sad.

[Sekiyo]

wrbtrader

LMAO.
The guy front row that applauds.

 

[SunTrader]

I am still of the conviction that newbs are so much better off swing trading very very very small size. So small that you can have on a position for days and it does not cause you anxiety or distraction.

When you get it going you can lever up. And you are not at the mercy of the bots and spoofers and gamers and algos.

Agree.

3, 4, 5 year olds aren't embarrassed to ride their first bicycle with training wheels on but that doesn't translate to most adults when they take on trading.

Although I wasn't thinking of that analogy when I jumped in, I did start swing trading (so green didn't know that was what it was called) with 100 shares a pop.

Few years later found out about the eMini (was green to that for a while too, if only in both cases that was in the profitable sense lol).

But one thing I did know as a newb was that I needed to put in my time and take it slow - especially if I wanted to last.

 

[smallfil]

I know its a noob question, but when I got stopped out at the low, I am so mad and sad. Do pro traders still feel that way? Now I have bad habits when I got stopped out and price dont fall I go back in immediately, or I chase a much higher price. And when I am wrong again, I got so frustrated.

How do you traders feel when you got stopped at the low, how you control your emotion and do tend to go back in?


Thanks!!

If you have proper risk management rules, risking only 2% per trade, this trade would only be one of many that you will place in a given year. No biggie. Now, there is no rule that prevents you from re-entering this stock assuming it is on a pullback but, the trend, longer term is still up. So, you re-enter at lower prices and buy more shares as a result? Is that a bad deal? You got stopped out, lost a small amount. Re-entered, got in at a cheaper prices, bought more shares of that stock. Assuming it works, this time out, you have more than an even chance of wiping out that tiny loss and making more monies. If you are going to trade, you have to remove emotion. Remember, you will lose monies trading so, man up and take the small loss.

 

[bone]

But one thing I did know as a newb was that I needed to put in my time and take it slow - especially if I wanted to last.

Yep. I was told by one of my mentors when I started out in the Bond Pit that my goal was to just survive. Only when I learned to survive could I then learn to make money at it. And he was right.