I went from $7,000 to $52,000
- Thread starter skillz20
- Start date
its obvious how he lost his money. he was probably playing market leaders(at the time) and held too long and maybe averaged down. probably stocks like AAPL.RIMM,bulk shippers ect... his problem was not obeying the rules of stop loss.he simply held on to losing trades and married the stocks and probably averaged down.
You need to wake up from your fantasy and stop being such a f**king clown. There are good people everywhere. It is far better to point to the only way where losses end. The inexperienced trying to advise the inexperienced helps no one. I have repeatedly pointed out the approach needed to win in daytrading in previous posts.
I have some advice. Look at DerekD's above post and install it in your mind. Do it before you experience it. I had to experience it before it went in my mind. But now you have the LUXURY to put it in your mind a head of time.
In the beginning, if I had used stops instead of being a stubborn idiot, I would have been fine.
Now I'm doing great, but I had to learn the hard way.
Wow.. Some of you guys are brutal. Its not prob though. Champion, I've read some of your posts and you make some good points on day trading success. I think toronto and DerekD are dead on with the importance of stop loss and common sense money management. You know guys, I'm not here to claim that I am great at this stuff. Obviously I screwed up. I havent been trading long so last year was a combination of luck and a little trend riding. If you look at the stocks I mentioned earlier you can see how my portfolio almost dissapeared in about a month. I was a little over aggressive with the intention of turning 50K into 100K. I have heard people tell me over and over again, "Pay attention to the broader market and do not fall in love with a stock" well, I didnt listen and got chewed up..
highprobabilitytrader? how much did that guy stary with?
