Quote from estrader:
You cannot trade on emotion. I remember the mistakes that I made on one of my first trades. I bought thougtlessly before the stock dipped, and as it dipped I panicked and sold out. It later came back up and over what I bought it for. Remember stocks go up and down; you cannot always get in at the day's low; what ever price you buy for, there is a chance it can go even lower, so just wait till it bounces to a profit for you. Dont buy if your intuition tells you not to. Smashing others is not a strategy, because the market is too big for one day trader to influence it, you will only smash yourself. Judge your perofrmance by how you achieve your own trading goals. If making 500k a year is your goal, it is pretty pathetic. Suppose you get there and then what? 5M? Money is not the goal, it is the means to financial freedom. My goal is to live comfortably and never to work for anyone ever. Do you want to kill yourself chasing numbers?
I agree that when you lose it feels harder than when you make a profit, but then it is you most of the time who is to blame. I believe if you set realistic goals you should be able to achieve them most of the time.
This is just my personal opinion, so dont take it close to the heart.
