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Gladiator4444

Registered: Aug 2003
Posts: 12

08-06-03 11:56 PM

Hi everyone, I am a new member on this site...and i find it to be very helpful.....

I've been daytrading for a few months now...and I find it very difficult to keep my losing days small compare to my winning days...I think I am having problem knowing when to stop and when to push more....at this point I don't know how to solve this problem......ANY HELPFUL ADVISE WILL BE GREATLY APPRECIATED

thanx,

Gladiator

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EMini-Player

Registered: Jan 2003
Posts: 2406

08-07-03 12:10 AM

Post a few of your real trades from today or yesterday. That'll give a good idea on what you're doing wrong.

-FastTrader

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Gladiator4444

Registered: Aug 2003
Posts: 12

08-07-03 12:38 AM

here are the trades I took today:

sort EXPE @70.49-----covered @69.82(500shares)

long EBAY @102.23----covered @101.80(800shares)

long WMT @55.29----covered @55.17(800shares)

short EXPE @70.34---covered @70.79(500shares)

long MER @51.45-----covered @51.12(1000shares)

short MER @51.42-----covered @51.21(500shares)

$555+$170comm=-$725

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EMini-Player

Registered: Jan 2003
Posts: 2406

08-07-03 12:49 AM

It'd be great if you could include the time for the trades as well. That way I can check out the chart for the mentioned stocks.

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Gladiator4444

Registered: Aug 2003
Posts: 12

08-07-03 12:54 AM

Fast Trader, do you think stock selection is more important then risk management (size of the position, time of the day to initiate position...holding time).....I will post time very shortly

Thanx

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EMini-Player

Registered: Jan 2003
Posts: 2406

08-07-03 01:03 AM

I think Risk Management is more important.

The only filter I use for trading stocks is volume. As long as it trades over 1 MM shares a day, I will trade it. I could care less what stock it is, as long as it meets the volume requirement. I also like to trade stocks over $20, since they tend to move more. Most of the stocks I trade are in the $40-60 area.

-FastTrader

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