Ignore the futures. bull run today

Went long in the morning but scratched the trade. I'm positive for the day after joining the shorts that broke through 12-1pm lows.

With a name like noob, what can you expect?
 
You'll probably be ok. Every dip has been bought in this rally we've been having since beginning of October.

Quote from beachhouse:

Damn, I shouldn't have followed your advice.

Now what should I do?
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I've got a buddy right now buying FAS and he doesn't know a thing about trading. He pretends he does. Anyway he's up like 20k swing trading 3000 shares since Sept. He thinks he's the shinizzle right now. I looked at his trades. He's been buying after every dip. Market has been good to him and not downturning. We argue about methodology and stoploss. He doesn't have one. Thought a stoploss was above the buying price. lol. So he tells me "as long as I'm making money, what does it matter".
 
they always buy the dip . lol " hope " that is your plan
better off burning your money then use that bonehead approach to trading
 
Quote from lwlee:

I've got a buddy right now buying FAS and he doesn't know a thing about trading. He pretends he does. Anyway he's up like 20k swing trading 3000 shares since Sept. He thinks he's the shinizzle right now. I looked at his trades. He's been buying after every dip. Market has been good to him and not downturning. We argue about methodology and stoploss. He doesn't have one. Thought a stoploss was above the buying price. lol. So he tells me "as long as I'm making money, what does it matter".
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There's nothing uncommon about what your friend is doing. I've known more novice, beginning traders that put up tremendous runs WHILE the market trended upwards (or as the case may be they held out thru brief downturns). The problem is they will never stop until that 20k gain turns into 50k-100k in losses. It always ends the same way for the novice traders. Most just walk away, others might try to get back the "magic", but they usually don't since the psychological damage is too great.

It's why alot of firms will also hire people with no experience in the markets. They want that "empty tablet" so to speak and certainly don't want anybody with a bunch of mental baggage after going boom and bust a few times.
 
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