Grinding it out, day after day

Quote from lescor:

I'm not going to write a book on how I trade, or make this a question and answer thread. [/i].
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I'm as guilty as anyone when it comes to asking way too many questions on threads like this.

But you have already given tons of info. Thanks for your contributions to the board.
 
I agree with you Now is Now. I'm new to this thread. I've been following the markets day trading on and off for the past 8 years with 2008 being my worst year. Broke one of my rules twice back then, "Do not hold a loser over night" and it took me out of the game. Took me 14 months to recover and going back in one last and final time this year.

I do enjoy the Q&As on this thread so I don't mind. However, I do feel it is getting out of hand how basic some of these are. Lescor, I appreciate you keeping up and putting down your answers. Kudos to you! I recommend some people just read a few day trading books if you're looking for trading styles. My view is that it's all about trading psychology. If you have a plan but let your emotions get in the way (like I did) and don't follow the plan, you're not going to make money.

Anyways, I'm within a couple of weeks of funding my account. This forum is excellent, exactly what I'm looking for and is keeping me motivated that getting back into trading one last time is going to be a good decision. My wife is hesitant on this but since I said it's one final time and that I revamped my trading plan completely, she's there to support me. I can't ask for anything more.

Thanks again Lescor for keeping on with this thread. When people start asking the same questions and not taking the time to read previous threads, feel free to type "I already answered this" to save your fingers. Just curious, what are your top 3-5 books you recommend everyone to read? I'm looking for ones that relate to Day Trading but if other books helped motivate you and got you to where you are today, I'd be interested to add them to my library. Cheers!
 
This thread is becoming a big joke. Some of the questions here require someone just to do a bit of homework/research. Not being a bunch of cheerleaders eehh Lescor if its half moon do you trade !!!!! Please

The OP should continue his thread and maybe post some updates on P&L/trades to see if he walks the talk.
 
Anyone who is registered after Jan 2007 should use that little search button in the corner and search for lescor's posts. Start from the beginning and read them all. It will be better then any book you can read about starting to trade and developing into a successful trader. It will help you immensely and probably give you some good ideas.
 
Quote from LivingTheDream:

Just curious, what are your top 3-5 books you recommend everyone to read? I'm looking for ones that relate to Day Trading but if other books helped motivate you and got you to where you are today, I'd be interested to add them to my library. Cheers!
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Trade Your Way to Financial Freedom by Van Tharp and Trading In the Zone by Michael Douglas are the two I recommend. Anything daytrading specific is likely to be out of date by the time it's published. I haven't read a trading book in about seven years so I don't know what's good that might have come out recently.
 
Hey lescor,

Do you ever average down on losers? If you do average down on losers, then overall do you think averaging down helps or hurts your results?

Have you noticed any decrease in profits since high frequency traders (i.e., auto-penniers) have started to become more dominant in the market?

Good luck next week.
 
Quote from sprstpd:

Hey lescor,

Do you ever average down on losers? If you do average down on losers, then overall do you think averaging down helps or hurts your results?

Have you noticed any decrease in profits since high frequency traders (i.e., auto-penniers) have started to become more dominant in the market?

Good luck next week.
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He already said:

Do you add to losers ? How about to winners ?
1. sometimes, but not that often. 2. rarely
 
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