i started from dollar stocks like DPW and other cheapies trying to move slowly to more expensive stocks that are not as shady and unpredictable as DPW. so i try to buy 1000 shares each time because its easier for be to follow my gains and losses or predict what they would be... i wasted alot of time in nokia. consistently buying and selling at the wrong times. eventually made another 1000 bucks in nokia then it dippedright after i thought it would go up after the good news about it. but it dipped instead. so i was back to 3200 bought tesla before battery day and it dipped again instead of going up like i expected.. now holding waiting for it to bounce back and just found all these message boards and started reading stuff here im reading the intelligent investor by Ben graham but it feels very outdated. also reading the Insider buy - superstocks by Jesse Stine. it seems legit and i feel like it applies more to current market filled with noobs like me where everyone is buying and selling based on gut feeling. i dont have any actual trader that i can watch so i have been reading online and watching youtube videos from zip trader and Rayner teo. so between the old books, the youtube trading gods,and questionable newer trading books im not really sure where legit information is anymore. and what i should learn or what strategy to use with a small cash account as a beginer
i mean considering that im predicting the markets completely backwards but with great consistency i feel like im seeing something right just reacting to it wrong and cant figure out what it is lol
I guess you mean I mean considering that I am predicting the markets completely based on past data. Its prediction is with great consistency. I feel like I am seeing something right just reacting to it. If it is wrong, I can't figure it out & lol.
Seriously, you just need to figure out what feels like the most uncomfortable trade to take and do it.
It is very hard to pinpoint what you are doing wrong, but I would expect position size according to your portfolio has something to do with it. Not that you are reaching any limit, but that you are somewhat nervous when you are placing your orders. You feel like you have to get it right, and you wait until you are really sure (as in when the trend has been ongoing for a while). That is when it reverses. So my advise would be to place a lot smaller orders, so that you are comfortable with making mistakes. That will make you a lot less tense, and most likely a lot more rational.
You probably don't have a strategy, don't have an edge and you are just randomly punting trades based on what you feel/think is going to happen. Atleast this is what i was doing when i started. I was randomly buying or selling because i thought something was going to happen. This is not trading. This is gambling...