Another day trader bites the dust

Discussion in 'Trading' started by teewoods, Oct 4, 2020.

  1. smallfil

    smallfil


    For new traders, they recommend 1% of capital which is $4,500 per trade. Place a hard stop loss after entry too. Most times, you do not lose 2% (total loss), maybe, 0.5% or 1% tops. So, even after several losses, you are still A-Okay with most of your capital intact.
     
    #11     Oct 4, 2020
  2. Turveyd

    Turveyd

    18months, seen people lose 100K in weeks, bright future, just got to build his margin only money via Mini's back to the 550K won't take long.

    $200 losses, scare the crap out of me and get me all emotional, so not surprises if trading with that kinda $$$'s.

    Operation funded and it's not my money or real money just numbers on the screen I think, to take the pressure off, he should try LeeLoo much less rules than TopStep.
     
    #12     Oct 4, 2020
    athlonmank8 and Grantx like this.
  3. Millionaire

    Millionaire

    LeeLoo??

    How many of these types of tryout Firms are there :confused:

    I suppose competition is good.
     
    #13     Oct 4, 2020
  4. maxinger

    maxinger

    It doesn't mean swing traders have a higher chance of success.
    The success rate for swing traders could be around 10%.
     
    #14     Oct 4, 2020
    TrailerParkTed likes this.
  5. NotKnown

    NotKnown

    What was he day trading?
     
    #15     Oct 4, 2020
  6. This is easier said then done.

     
    #16     Oct 4, 2020
  7. speedo

    speedo

    ET lol
     
    #17     Oct 4, 2020
  8. Millionaire

    Millionaire

    It is easy if automated.

    Just code your Algo to bet small initially and then ramp up quickly as profits are made.
    Tell it to cut back when losing, especially when near the initial account starting value.
     
    #18     Oct 4, 2020
    dennis86, zdreg, guru and 1 other person like this.
  9. Day trading is dancing with the devil. The big money is made in the sitting.
     
    #19     Oct 4, 2020
    FWBGBS and Millionaire like this.
  10. speedo

    speedo

    OP, I would discourage your friend from practicing dentistry as well even though you've taught him to brush for an entire two minutes.
     
    #20     Oct 4, 2020
    SimpleMeLike, dvrkbxy, d08 and 3 others like this.