linuxtrader
Guest
It might be instructive to tell the members how much trading capital you were using. Using low capital leaves very little room for mistakes. A few bad decisions can cripple you and essentially put you out of business.
Giving up is hard to do......
- Thread starter bobcathy1
- Start date
It might be instructive to tell the members how much trading capital you were using. Using low capital leaves very little room for mistakes. A few bad decisions can cripple you and essentially put you out of business.
Quote from bobcathy1:
I had decided to give up day trading a month ago.
Along comes another guru who helps me a little than disappears. Today I am in the same place. Quitting day trading.
I think some people just don't get it no matter how hard they try. And I have tried so many things and read 100 books on the subject, dozens of tapes and millions of postings.
I read that all the great traders eventually lose all their money. I would rather stink in that case!
I have to go back to work or I have to sell my boat. So now is a good time to chuck in the towel. It was a fun 4 years.....:eek:
Appreciate your honesty bobcathy. Have read many of your posts and was taken aback to learn things weren't going well . Kind of a wake up call to us aspiring traders of the difficulty involved in this undertaking . Good luck in your future endeavors.
Quote from bobcathy1:
I had decided to give up day trading a month ago.
Along comes another guru who helps me a little than disappears. Today I am in the same place. Quitting day trading.
I think some people just don't get it no matter how hard they try. And I have tried so many things and read 100 books on the subject, dozens of tapes and millions of postings.
I read that all the great traders eventually lose all their money. I would rather stink in that case!
I have to go back to work or I have to sell my boat. So now is a good time to chuck in the towel. It was a fun 4 years.....:eek:
Why trade futures? With futures you only have one chance. With stocks you have multiple chances when you open three, four, five positions. Some stocks will go up and others will flop over. Those that flop over you cut immediately. When the market is goung up establish multiple positions as quickly as you can without picking weak stocks. It's as simple as that. No scientific indicators are going to help you. It's all common sence. Cast a big net (multiple positions) when the fish are running and haul in. The fish are not running today, except for a few short top plays. Check the news and you'll see why.
Tomorrow is another trading day.
I prefer to trade futures over stocks anyday. Decimilization has really made stock trading significantly more difficult.
My advice to Cathy is to NEVER give up. If you find yourself losing money consistently you should stop trading for a while and attempt to get at the root of the problem. When you trade, you need to focus not on the money at stake but rather on market conditions; i would imagine that many people worry too much about the money that is at stake and therefore make bad decisions. Every trader has to pay a tuition fee; how big that fee is depends upon how quickly he/she learns from his/her mistakes.
You may lose many fortunes in your lifetime; just try to learn from each mistake and never make the same mistake twice. there's my 2 cents. hope it helps in some way.
My advice to Cathy is to NEVER give up. If you find yourself losing money consistently you should stop trading for a while and attempt to get at the root of the problem. When you trade, you need to focus not on the money at stake but rather on market conditions; i would imagine that many people worry too much about the money that is at stake and therefore make bad decisions. Every trader has to pay a tuition fee; how big that fee is depends upon how quickly he/she learns from his/her mistakes.
You may lose many fortunes in your lifetime; just try to learn from each mistake and never make the same mistake twice. there's my 2 cents. hope it helps in some way.
sounds like you might want to automate the process then. But that opens up a whole other can of worms i suppose