Trading size kill

yes, i think your way of doing it is much better, rather than killing my account, i think i'll stick to small size, thanks again

Quote from NasdaqPlayer:

used to trade 500 shares on a small account, got that account to almost 0 before trading 100 shares. now that im at 100 ive had 1 losing day out of the last 3 weeks. i plan on trading this low till i get 3 or 4 months of consistency, then up to 200 for a couple months. i expect in about 2 years(including drawdowns) i have the potential of trading 400 to 500 hundred share lots, consistantly profitable of course. But if im still at 300 in 2 years atleast im still in the game, learning and surviving.
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I too have been trading high priced stocks. As I am stl ltrying top work pout my method I only trade in 300 right now. Made $250 yesterday. lost $270 day before. I am up about $600 on the week.

Tut,tut, if you don't have a system/method why are you trading 1,000 lots if it gets you so emotional? I'll bet all you could see is those $2,000+ profit days and not the losses?

So go back and trade 200 lots until you can make consistent profits. It's not rocket science.
 
SCALE!!!!

as you increase size - you can't get a way with getting full fill lots (regarldess of what you trade).
Even if you trade WB, but you trade 100,000 shares per pop - you NEED TO SCALE.

Same with 1,000 shares on some 100$+ stocks.

Scale in, scale out.

but get confident frist on smaller size.
 
Quote from Anekdoten:

Size is earned.

Anek
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and it has nothing to do with acutally making money....although that will boost your confidence ( which in turn may get you into trouble )...it is earned after you can cope with a bigger lose. That is easier said than mastered.....peace out..rennick style
 
Anekdoten, can you possibly elaborate? Thanks.

Quote from Anekdoten:

Make an effort to enter in places that are "Lines in the sand", that way if you are wrong, the stop just won't be a loss but also informative.
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One thing I have done is take the amount of money I have over the PDT rule and use a percentage of that as my dollar risk amount, scaling my share size so that if my original stop is hit, I only lose that amount of money. As I grow my account I can increase my size fast or slow depending on how much money I am currently making. If I am losing money I keep using less size based on that percentage. This was the only solution I found about how to increase size in some real way. This way you also don't lose more money on some higher priced stock then you do on the same trade on a much lower priced stock.
 
I use hard rules written down in a business plan that cause me to do less as I lose more. Something like this: If I lose $500, I go to paper trading for the rest of the morning or afternoon. If I am down $1,000 I go to paper trading for the next day. If I have two loss days in one week I take away something I enjoy to remind myself of the seriousness of the issue, i.e. watching Mon Night Football. In short - develop a solid plan of rewards and punishments and stick with your plan. Treat this as a business, because it is.
 
There are really only two things that a trader can control.

1. Their share size.

2. Their attitude.

Everything else is chaos theory. When things start getting tough, focus on the things you CAN control.
 
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