Very sad day...

[zdreg]

Wow... What a crazy day. I was green nearly 3500 dollars on my account... And I chased 3 stocks and held one of the stock thru earning.. . Guess what? My account from +3500 to - 900 dollars. I liquidate the bad earning stock right after hour. Regret... Regret... Regret... Should have..... Would have.... Should have sold before closing bells.....what a crazy day. All my moves were wrong... As soon as I entered a trade, it dropped and I got stopped out. When I shorted a stock, it went up....
Feeling sad and emotional now..... Very discouraged.

where is your exit plan?

 

[SimpleMeLike]

All my moves were wrong... As soon as I entered a trade, it dropped and I got stopped out. When I shorted a stock, it went up....
Feeling sad and emotional now..... Very discouraged.

Hello Tradesuperstocks,

Everyone on the forum and every trader has experienced this before. This is called learning and consider it paying tuition. For example, nurses and engineers make mistakes as well. If the trade was not apart of your plan, then there is nothing to be mad about. However, if it the trades was outside of plan, then I can understand the emotional distraught.

Keep your head and keep on working. It will get better. I have MADE these same mistakes.

 

[Money Trust]

Last piece of advice: DO NOT DAY TRADE. Always hold on for few days/weeks. Take a small position, hope for a trend. Cut loser, let winners run. Move on to the next trade.

The thing I've learned about day trading is that the potential to make money on a daily basis is very luring. It's possible but it's the most taxing endeavor that you'll ever engage in. IMO, there's more room for error if you hold for a longer time frame.

 

[SimpleMeLike]

The thing I've learned about day trading is that the potential to make money on a daily basis is very luring. It's possible but it's the most taxing endeavor that you'll ever engage in. IMO, there's more room for error if you hold for a longer time frame.

Good comment.

I believe starting out day trading is not so bad if you are technical analysis type trader because you get more charting experience. Starring at the chart all day, gives good experiences and good ideas.

 

[Money Trust]

Good comment.

I believe starting out day trading is not so bad if you are technical analysis type trader because you get more charting experience. Starring at the chart all day, gives good experiences and good ideas.

That's how I really learned to read charts....by day trading and watching markets move all day. There's no better charting education than that. It's that experience which helps to call the major trends on bigger time frames.

 

[lawrence-lugar]

That's how I really learned to read charts....by day trading and watching markets move all day.
There's no better charting education than that.

It's that experience which helps to call the major trends on bigger time frames.

It's not just simply looking at charts; you have to slighty understand the reasoning or rationale behind it.

And understand that trading is Part Art, Part Science -- Each new day is a unique ratio between the two.
It truly takes a skilled trader to succeed the shorter the time frame

While in investing for the long haul, you're almost Guaranteed that the SPY/DOW/SPX will Never go down.

 

[SimpleMeLike]

That's how I really learned to read charts....by day trading and watching markets move all day. There's no better charting education than that. It's that experience which helps to call the major trends on bigger time frames.

Correct that is what I do.

But I regret not putting some time in indicators, may RSI or MACD or EMA. I simply look at price action candles only and support and resistance.

I would like to use an indicator to get a better simple approach for price direction.

 

[Overnight]

Wow... What a crazy day. I was green nearly 3500 dollars on my account... And I chased 3 stocks and held one of the stock thru earning.. . Guess what? My account from +3500 to - 900 dollars...

I lost that same amount today, so you're not alone. It happens. Always overcapitalize, because the smaller the account, the bigger the sting will be on a loss.

 

[pinabetal]

Correct that is what I do.

But I regret not putting some time in indicators, may RSI or MACD or EMA. I simply look at price action candles only and support and resistance.

I would like to use an indicator to get a better simple approach for price direction.

What was your rationale for only using candles in conjunction with support/resistance?

 

[SoesWasBetter]

was it that garbage DRYS? pure gambling ,and a better short