Day/Swing Trading
Day trading takes a lot more then one would oerignally expect. I have had MANY days where i sat there watching my account drain of money and I couldnt do anything to stop it because I had already used my 3 day trades in a five business day (week) period. The key to making money on the stock market doing these type of plays is to limit your losses, NOT maximize your gains. Dont get me wrong, Finding good risk to reward ratios is something I HIGHLY ADVISE! To day trade requires you to learn the technical analyst, overcome/control that feeling of FOMO, have a strict set of rules you follow (startegy), remove your emotional connection you have to your portfolio and the time and patience to perfect your skill.
Day trading is hard and there is no way to do it perfectly but holding tight stop losses and practicing tech analyst, the money is there for the taking.
I am not profitable yet but im working my way back up there now and i couldnt be happier for the experiance
You only fail when you give up!
$Bed Bath & Beyond Inc(BBBY.US$
$Marathon Digital(MARA.US$
$IVERIC bio(ISEE.US$
Day trading is hard and there is no way to do it perfectly but holding tight stop losses and practicing tech analyst, the money is there for the taking.
I am not profitable yet but im working my way back up there now and i couldnt be happier for the experiance
You only fail when you give up!
$Bed Bath & Beyond Inc(BBBY.US$
$Marathon Digital(MARA.US$
$IVERIC bio(ISEE.US$
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I love the market and everything about it. HARD WORK AND DISCIPLINE!
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fungui : eggsactly! this year has been difficult to navigate. I started two years ago and was good. Not so good this year. needed to change the strategy slightly keep learning and staying within strict boundaries. cheers to the journey being a success. You are not alone!
The BIZOP : I just switched to using MooMoo because it allowed me to trade starting at 4 am instead of 7 am like Td Ameritrade. But now that I'm using it more I LOVE how you can become part of a community! Twiiter is full of career pump and dump artists. Its nice to know I'm not alone. Thank you and I wish you the best! Its the joy of the journey not a destination.
We are all the makers of our own lives!
AcLongway : i believe its all up to you and how you evaluate stocks, are you researching the right data and are you not allowing yourself to abandon tech analysis news and sometime luck. say you did do research n u believe its all in line then when the markets begin you see immediately a downtrend u expected to catalyst so u panic and or put stop on the play and that burns one then immed following it rockets you buy in again u gonna set another stop u gonna take profit and pull ur 2nd day trade or let it go n wait to see if it holds. its all about patience. you could very well end up using all three abandoning ur confidence n hard work. just put more into it . follow a firm set of rules n always no matter what try to plan for next day.
The BIZOP : I've done it before, you are not wrong one bit. lately I've been working really hard on not allowing myself to act in panic. It was very hard at first but I have been doing much better in that aspect. Now I have to work on following my indicators and analyst for better entries, setting likely goals and sticking to them, and stop trying to be rich tomorrow so I can be rich later. Hahaha thank you for your response!
The BIZOP AcLongway: thank you!