risk management for day trading

G

Gladiator4444

Hi everyone, I am a new member on this site...and i find it to be very helpful.....

I've been daytrading for a few months now...and I find it very difficult to keep my losing days small compare to my winning days...I think I am having problem knowing when to stop and when to push more....at this point I don't know how to solve this problem......ANY HELPFUL ADVISE WILL BE GREATLY APPRECIATED

thanx,

Gladiator
 
here are the trades I took today:

sort EXPE @70.49-----covered @69.82(500shares)

long EBAY @102.23----covered @101.80(800shares)

long WMT @55.29----covered @55.17(800shares)

short EXPE @70.34---covered @70.79(500shares)

long MER @51.45-----covered @51.12(1000shares)

short MER @51.42-----covered @51.21(500shares)

$555+$170comm=-$725
 
Fast Trader, do you think stock selection is more important then risk management (size of the position, time of the day to initiate position...holding time).....I will post time very shortly

Thanx
 
I think Risk Management is more important.

The only filter I use for trading stocks is volume. As long as it trades over 1 MM shares a day, I will trade it. I could care less what stock it is, as long as it meets the volume requirement. I also like to trade stocks over $20, since they tend to move more. Most of the stocks I trade are in the $40-60 area.

-FastTrader
 
sort EXPE @70.49(9:46)-----covered @69.82(10:02)(500shares)

long EBAY @102.23(9:47)----covered @101.80(10:00)(800shares)

long WMT @55.29(9:36)----covered @55.17(10:03)(800shares)

short EXPE @70.34(11:28)---covered @70.79(11:47)(500shares)

long MER @51.45(9:36)-----covered @51.12(10:08)(1000shares)

short MER @51.42(10:47)-----covered @51.21(11:46)(500shares)
 
I thinK for sure paying that commish daily is silly.Here is my solution find some commish thats reasonable.You could save thousand per yr right away.This may at least allow u to stay in the game longer.
 
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