I Discovered the Reason I Lose Money Trading.

Tradex said:
Scalping the market all day is by far THE most stressful activity. The burnout rate in this business is brutal.

Let's be honest, we trade mainly because we want to make money without having to do any "work" (well, sort of), and scalping the market all day simply defeats that purpose.


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I've burnt out and took a year out 4 times so far and my trade sizes are small, imagine the Stress at $1000 per point on the YM when it's doing a 200pt move. Then throw in Coke to be able to focus for long enough.

I limit myself to about 2hours per day!
 
Turveyd said:
I limit myself to about 2 hours per day!
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To coke sniffing or scalping?
Just kidding. :p

All Joke aside I strongly suggest you swing trade for a while, Turveyd, you need to stay away from that $1000/point scalping nonsense, at least for a few months.

A little quiet music in the background while you trade won't hurt too:

 
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taowave said:
100 bucks to each member who read that from start to finish:)
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You owe me 100 bucks sir.

My problem is after reading it a couple of times, I couldn't find anything I could backtest, SIM because they are all philosophical and G & M, nothing specific I could sink my teeth into.

I hope @volpri can be a little more specific, like: Don't day trade right at opening bell, do buy when xxx happen, etc. In that regard @KCalhoun's is better. Whether I agree with him or not, at least I could test his hypothesis if I wanted to.
 
Tradex said:
To coke sniffing or scalping?
Just kidding. :p

All Joke aside I strongly suggest you swing trade for a while, Turveyd, you need to stay away from that $1000/point scalping nonsense, at least for a few months.

A little quiet music in the background while you trade won't hurt too:

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Scalping, Coke and Rave music blasted max volume unce unce unce all day every day!!!

$1000 LOL $10 scares the hell out of me, I hit $30 Friday briefly in a stupid moment never cost me $1500 which is a months wages for me.

Netflix in a little window to stop me getting bored, never jazz ever!!
 
murray t turtle said:
%%
LOL, Nobert ;
shorting is not as harmful as smoking/ even though short systems seldom if ever make what long systems do.
WATCH out for those little flesh eating fish in South America; they attack in schools + rip flesh bit by bit by bit/bloody mess they say.:caution::caution::caution::caution::caution::caution::caution::caution::caution:
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Heh, yeah, pyranhas ;D

Im not saying that it is as harmful, what i meant that it is as addictive (at least it was for me)

Im sure that if it's done right, it works well, but most newbies, will end up shorting great companies (because few lines/indicators, told to do so) and ends up busted.

Back to pyranhas, - atm im all about gold diggers, deep into woman psychology, got to look out for those. Not only that that kind of piranhas it will eat you, but will leave with empty bank account.
 
KCalhoun said:
Great points, agree. I also use automated trailing stops for daytrading with OTO orders, huge help.

Good luck!
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Do you know how they act after LUDP's? I know they completely evade regular stops since the ask price drops to 0.00 and errors out brokerage systems. Got screwed once. Learn my lesson not to use them on certain tickers. Never used a trailing stop before though.
 
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ironchef said:
You owe me 100 bucks sir.

My problem is after reading it a couple of times, I couldn't find anything I could backtest, SIM because they are all philosophical and G & M, nothing specific I could sink my teeth into.

I hope @volpri can be a little more specific, like: Don't day trade right at opening bell, do buy when xxx happen, etc. In that regard @KCalhoun's is better. Whether I agree with him or not, at least I could test his hypothesis if I wanted to.
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It was not meant to be setups to trade. Just general concepts and principles, not actionable specific trading setups. For the latter you will have look at my journal.
 
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