Gambling Pure and Simple

Thanks for the input neutrosphere.
I took taday off and going to take
monday off as well. Do more research and testing, I will post my stats since starting a month ago later this weekend, I also will list the stocks that i am watching and possibly trade, the list is close to 100 now that I follow everyday. I thought this was a good time with how wacky the markets have been to step back observe, test and research.
Have a great weekend all, I will be busy:D
 
First day back trading after doing numerous hours of research on my system and stats.
1 trade today
Net profit $494.50
I am coming back slow till I get all my info analyzed.
A good day:)
 
Quote from wannabehftrader:

thx for the advice lar.

... I do go on roller coaster rides with emotion, but i love it, wouldnt want to do anything else:)
More...


That sounds like a problem , more congruent with the excitement of gambling.


Amateur gamblers do it for the excitement, professionals do it for the money.
 
Hey Hans yes that is one of my problems, but since stepping away from the market for 4 days and looking at this rationally I would say I am more hungry again to trade and win, losses are not acceptable unless i follow my plan to the book. Yes I have an addictive personality but I will not less this interfere with my work and love for trading.
 
My advise:

Trade smaller size until you get consistent (16000 shares with that account size is suicidal). Slowly build your size over time. One bad move can blow your entire grubstake. That is to much to risk on any given trade.

Also try to make your winning trades larger than you losing trades with a minimum risk reward ratio of 1 to 2 or 3. (ie you are risking one dollar to make 2 or 3) Base hits win more baseball games than home runs............ and they are alot easier to do.



Good Luck.:cool:
 
hey midas.
That is what i am doing now. I had 1 trade today 300 shares bought at 16.61 and sold at 17.40.
So yes i have sized down big time and only taking top rated trades instead of trading just to trade.
 
Quote from wannabehftrader:

hey midas.
That is what i am doing now. I had 1 trade today 300 shares bought at 16.61 and sold at 17.40.
So yes i have sized down big time and only taking top rated trades instead of trading just to trade.
More...

That's pretty efficient! Nice.
 
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