Argh! 2 day losing streak to start my Da-Trading career...

Discussion in 'Professional Trading' started by BostonKiller, Sep 25, 2008.

  1. it's a bit like me. I paprer traded for 3 weeks and results were superb then when I went in with real $$'s I lost. I was chasing cents and my stops were too tight.

    so I went back to the drawing board and now have a method that only trades 1 or 2 a day and the results are great. Often I make $1+ on 500 shares. So it's ok for now. Making money and very low stress.

    I found scalping to be far too quick and exciting for me. And it lost me money and made my broker rich.

    Go back to paper trading and correct it. Then trade so small it doesn't matter. I found once I put real money in my heart started pounding and I was counting $$$'s all the time...weird.. Then I cut right back so worse case it didn't matter. Now I am fine.

    Good luck.
     
    #21     Sep 26, 2008
  2. OK, here goes:

    AMT: I have lost because I used a Trailing Stop of 1.5% and it knocked me out. I did not have the guts to re-enter.

    CMCSA: I was so bent on using my 'pricing entry' system that I ignored RSI

    DIS, ARO, MYGN: same as CMCSA

    PL: Actually it was also the same as DIS, ARO, MYGN and CMCSA - just made a typo: I entered at 33.25, not 32.25. Quiet the difference.

    My problem here (among many others) is that I can't read Stochastic indicator. I read your trading blog and I seem to recall that you also took a little time mastering it.

    Domo :)
     
    #22     Sep 26, 2008
  3. What does 2 days results have to do with the rest of your career?
     
    #23     Sep 26, 2008
  4. Oh, nothing. However, it's was just a little discouraging to start right (1 good day) and than have 11(!) losers in a row, without realizing my stupidity. So, as I said I needed to ventilate and get back to the drawing board.

    I haven't traded today. I am back-testing right now and it seems like it wouldn't have worked today either. Time to reinvent myself :)
     
    #24     Sep 26, 2008
  5. NoDoji

    NoDoji



    It's not something you can master, because it's used in tandem with other factors (support/resistance, market and sector trends, volume, etc.). But I've found it to be a great help with entries and exits.
     
    #25     Sep 26, 2008
  6. You will bleed ur acct dry.
     
    #26     Sep 26, 2008
  7. 11 losers in a row seems kind of harsh, how are you doing now?
     
    #27     Sep 26, 2008
  8. kxvid

    kxvid

    You should post your calls so we can do the opposite.:D
     
    #28     Sep 27, 2008
  9. I took a break Friday and will paper-trade couple of days next week. See what happens.

    THank you again to those who replied! I will keep posting.
     
    #29     Sep 28, 2008
  10. You started with the left foot: daytrading.

    Start with longer time frames, which have a higher probability of success.
     
    #30     Sep 28, 2008