Some trading advice for new guys

[GoldDigger]

Just some random thoughts that have helped me and I have mentioned them before.
Never buy pre market or after market: 90% of the time you will take a big hit.
Try to not buy the open and wait for a stock to base and give you a set up. Of course some stocks just rocket at the open but most times they pull back ESPECIALLY on gap ups that suck traders in thinking they will miss the huge move.
Stay away from low volume stocks ; let’s say under 1.5 million shares per day.

One thing I do that most traders don’t agree with is this:
If I make a very large 1 day profit I always take the next day off.
If I take a big 1 day loss, I also take the next day off. Why? You tend to revenge trade and try to recoup the previous days loss.Never good.
As to the big gain, tend to try and repeat the previous gain and you usually give back a lot doing that. It just works for me.

I disagree with just about all of this.

There is money to be made in the pre and post markets.

I trade during those times and your percentage of losses
is exaggerated, unless a person does not know what they
are doing or choosing random stocks.

Some stocks tank after the open and some do not. That
is why you must look at the stock's pattern from the past
to determine what it is likely to do now.

There are certain times of the day when people buy and
sell, and those times are generally predictable. News is
not predictable but events like dividends and splits are.

Many low-volume stocks perform consistently well.

As to taking days off, you should be able to do that when
you want, but every trading day is a brand new day, why
dwell on what happened yesterday by sulking about it
a whole other day, when you could be doing something
productive, like making more money.

Everyone doesn't tend to revenge trade, that is only a
thing if you don't limit your losses, cannot control your
"feelings" or whatever is going on with you.

You seem to be putting limits on your trading for no
reason, but you should do whatever works for you.

Finally, I believe that men and women are completely
different when it comes to trading. From what I can
tell, you guys are way too emotional, especially with
anger, which should not be a part of trading at all.

 

[SunTrader]

Never touch a third rail, never jump out of a plane without a parachute, never tug on Superman's cape ... but most of all I never listen to anyone who tells someone else to never do this in trading. Trading doesn't do never, always, will, has to, gotta, or wimpy hope it does.