New Trader trades
- Thread starter wolfen
- Start date
Just a few thoughts on this trade. I held this stock for four trading days. That was not my intent, but I did allow for it in entering the trade. I learned a lot from this trade, emotions do play into decision making, even if only small sums are involved.
I stuck to my plan in this trade, to see if my 'system' would work mainly, and I learned that a lot more trades will be needed to prove/disprove my methods.
Still considering the use of stops, this trade demonstrated to some point that stops in most cases would have got me out with losses. Still considering them, and again, many other trades will be needed to resolve this in my mind.
I stuck to my plan in this trade, to see if my 'system' would work mainly, and I learned that a lot more trades will be needed to prove/disprove my methods.
Still considering the use of stops, this trade demonstrated to some point that stops in most cases would have got me out with losses. Still considering them, and again, many other trades will be needed to resolve this in my mind.
You are trading way too big for someone without a solid plan.
Maybe make your trades for the first month all $1000. worth of stock. If profitable, increase to $2000, etc. etc. until you get to a certain % of your trading stake/per trade. (Numbers like 1%-3% are thrown around.) But even if you have a zillion dollars to start out, show a monthly profit on the books first... or you expose that zillion to uneccesary risk.