whoa. Well, I made $47 and spent $63 making it. I really missed out this morning. It seemed as though I just couldn't get filled. Maybe I wasn't trading to the best of my ability......but then again this is my 3rd week trading. Geez, out of all the past sessions, I've only been profitable on 1 day. I don't know what it is. It's like, something isn't coming together. I'm assuming that it's just inexperience. I was trained at my firm for one week and at that time I thought that the info really stuck with me. But as of right now, I feel like I don't know what I'm doing.
I guess practice makes perfect. The more I trade the more I'll benefit from the experience. It's tough though. There are times when I'm so sure of the trade that I bid for the stock, get filled, and then offer it out. While I'm waiting to get my offer filled, the stock will begin working against me. Then I'm forced to take a flat. Which of course costs money.
Sometimes, when I'm trying to get into a position, long or short, I get intimidated by the prints. I feel like I'm on the wrong side. For example, let's say that I was bidding LU at .60. There are 100k on the bid and 38k on the offer. Suddenly, the prints are hitting the bid in a sporatic frenzy. I'll drop my bid because I'll think that the stock will start to the other way. When in fact the stock doesn't do anything. Then I realize that I should have kept my bid, gotten filled, then offer it out to make the profit. But I end up wussying out and forfit the opportunity to make a successful trade.
I get intimidated because I'm afraid of taking a loss OR a flat. I really think that my timid trading attitude is hindering my trading. I wish I could trade like the guy who sits next to me. He's normally unintimidated, confident, and honestly makes it look easy. It's funny because, he started the same day I did, and knows less about the market than I do. In fact, I remember him asking what "long" and "short" meant. Go figure.
I guess practice makes perfect. The more I trade the more I'll benefit from the experience. It's tough though. There are times when I'm so sure of the trade that I bid for the stock, get filled, and then offer it out. While I'm waiting to get my offer filled, the stock will begin working against me. Then I'm forced to take a flat. Which of course costs money.
Sometimes, when I'm trying to get into a position, long or short, I get intimidated by the prints. I feel like I'm on the wrong side. For example, let's say that I was bidding LU at .60. There are 100k on the bid and 38k on the offer. Suddenly, the prints are hitting the bid in a sporatic frenzy. I'll drop my bid because I'll think that the stock will start to the other way. When in fact the stock doesn't do anything. Then I realize that I should have kept my bid, gotten filled, then offer it out to make the profit. But I end up wussying out and forfit the opportunity to make a successful trade.
I get intimidated because I'm afraid of taking a loss OR a flat. I really think that my timid trading attitude is hindering my trading. I wish I could trade like the guy who sits next to me. He's normally unintimidated, confident, and honestly makes it look easy. It's funny because, he started the same day I did, and knows less about the market than I do. In fact, I remember him asking what "long" and "short" meant. Go figure.