bronks, think about it when you kiss her it's the same thing as kissing axle .. ;-}
MM/SP knows Day Traders????????
- Thread starter Motas
- Start date
if you lose 70K, you can lose another 70K too. :-/
If you lost 50% of you initial capital, you must keep in mind that you need 100% on the remaining just to break even.
If you started with 100k and lost 70k you now need 333% to just break even.
Not the easiest thing to do, staring with a significant damage both in capital and possibly in mental attitude/mindset.
Good Luck
Josh
If you started with 100k and lost 70k you now need 333% to just break even.
Not the easiest thing to do, staring with a significant damage both in capital and possibly in mental attitude/mindset.
Good Luck
Josh
Originally posted by Motas
I have been doing daytrade for the last 6 months (not a long time compared to some of you) & lost about 70K plus my portfolio.
I feel your pain X 4. Starting it over by reading the classic 'how to make in stocks' by William O'Neill, read it until you know it by heart. Using this new found knowledge to build you very own screener, there are many tool to help you; screeners from http://stocktables.com/ or http://www.investors.com/store/toolsMain.asp or TC2000 just to name a few, keep tracking your picks until they start to "show you the money" before investing with your hard cold cash again. This process should put you back on the right track after a year or two. Also see http://elitetrader.com/vb/showthread.php?s=&postid=53025#post53025 good luck.
ps. I know this sound boring like h&ll but if anybody had more exciting way to do it let me know.
Originally posted by Motas
You are on the dot PussyCat:
I had 7000 sh of JNPR @20.00 & loved them enough to hold on to them until few day ago and sold them at 11.90.
But today I had my chance to buy back the same sh. The stock fell to 11.95 after a stiff resistance and I bought my 7000 sh back
ALLRIGHT, JUST A MINUTE HERE. Did you say you sold JNPR for a
loss a few days ago and bought them again this soon? Isn't
this going to be a wash sale? If so, then you will not be able to
claim a loss on your schedule D for the 70K. Big mistake #2...
Am I right or wrong?
FIRST: Thank all of you for the post on this thread, whether Motas is for real or not. I've had my own losses Motas but I am now on the learning curve towards profitability in no small amount due to all of you who take the time to share and help here. Thank you!
SECOND: "The Disciplined Trader" has really made a difference in my trading and I will add it to the list of ideas posted here.
"As a trader it is more important to know that you will always follow your rules than it is to make money, because whatever money you make, you will inevitably lose back to the market if you can't follow your rules"
-Mark Douglas, from "The Disciplined Trader"
SECOND: "The Disciplined Trader" has really made a difference in my trading and I will add it to the list of ideas posted here.
"As a trader it is more important to know that you will always follow your rules than it is to make money, because whatever money you make, you will inevitably lose back to the market if you can't follow your rules"
-Mark Douglas, from "The Disciplined Trader"
i posted this in another thread, but maybe it would be applicable to you. if you really want to be a trader maybe you should try getting a job at one of the following firms where they teach you to trade with their money.
http://www.firstnewyorksecurities.com/fnys/index.cfm
http://www.hrld.com/
http://www.schonfeldsecurities.com/
http://www.firstnewyorksecurities.com/fnys/index.cfm
http://www.hrld.com/
http://www.schonfeldsecurities.com/