Tired of losing money every trading day

[tomkat22]

You need to stand down,go back on sim,or whatever. You obviously have no edge. Find patterns in price movement that repeat frequently enough to justify placing a bet.

 

[BlueWaterSailor]

you cant be a consistent loser because that means the opposite trade would make you a consistent winner which is highly unlikely.

That's a common misconception. Which is odd, because a one-second thought experiment would tell you that. There's an infinite number of ways to do something wrong, and usually only one (or just a few) ways to do it right. So, "reversing" a bad approach is almost certain to result in another bad approach.

 

[hilmy83]

What are ways I can find consistent stocks that will actually make me money? No matter what I do I always loose not gain.

I'd say take your stops away and work from there. I think you can see more clearly not having to worry about your entry relative to your risk in the short term. Find out if your directional bias is correct first.

 

[easymon1]

What are ways I can find consistent stocks that will actually make me money?

Let's start with a list of some example stocks that you can find in hindsight that would have made you money over the period of time that you like to deal with? That could be over the last year, or the last quarter, or the last week, or today, or this afternoon. You gotta give us something to work with here, lol.

 

[jnbadger]

You need to think about strategy without being tied to trading the same stocks day after day. ARBE was great for a few scalps today. I had never heard of it before today and I still have no idea what they do, I don't know what the news was, and I don't care.

 

[easymon1]

You need to think about strategy without being tied to trading the same stocks day after day. ARBE was great for a few scalps today. I had never heard of it before today and I still have no idea what they do, I don't know what the news was, and I don't care.

How did you find that stock?
After you found it what are you willing to tell us about your strategy having to do with
What triggers a buy or a sell to open?
What triggers an exit?

 

[jnbadger]

How did you find that stock?
After you found it what are you willing to tell us about your strategy having to do with
What triggers a buy or a sell to open?
What triggers an exit?

I use Trade Ideas for a scanner. I look for very tight short term consolidations in stocks that are trading much higher than normal volume. My win rate over the last few years is less than 50%, but extremely tight risk management while having a systematic way of getting out of winners gives me a positive expectancy. That's as far as I'll go when it comes to strategy.

 

[Cabin111]

Are you listening to the wrong people??

Stop day trading and start investing (holding long term quality)...

 

[easymon1]

Are you listening to the wrong people??

Stop day trading and start investing (holding long term quality)...

Did he say he was day trading? Still waiting to hear if he wants to hold for a lifetime, a decade, a year or an afternoon, lol. EliteInvestors may be the place he oughta be, not EliteTrader.

 

[GoldDigger]

What are ways I can find consistent stocks that will actually make me money? No matter what I do I always loose not gain.

How long have you been trading, because it takes
a while to learn. They say it can take up to two years
to know what you are doing and that's just for simple
day trades.

How are you finding your stocks? Are you using any
screeners or scanners. Your broker should have one
that you can use.

Trading is not easy, you need to be persistent, keep
learning, keep trying until you get it.

What are you having the most trouble with?