Day trading questions

Discussion in 'Trading' started by cashmoney69, Sep 7, 2007.

  1. It's been a week now, maybe not enough to measure success,

    but I'm a litte lost as to why I've lost money 5 of the 6 days I've

    been "In business".

    Some of the things I always do:

    1. Set stops (Usually .25 to .60)

    2. Look for good set ups

    3. Sit on the sidelines most the time

    4. I never "over trade". I lose x amt of money and stop

    5. I tend to trade the same stocks on a daily basis ( RIMM, TNH, GS, AAPL, GRMN, SNDK, VLO, OIH, ICE)

    ... yet I'm still losing.

    I guess my questions are:

    1. What are some of the things I might be doing wrong that many traders over look?

    2. Are my stops too loose for day trades?

    3. Should I trade more to take advantage of the days action?
  2. mde2004


    bottom line, you are a losing trader. You have no edge and should stop before you blow out punk ha. :p
  3. Hows your paper trading going asshole?
  4. mde2004


    Up over 20% this month in my trading account, real money asshole.
  5. Get off my thread and go do your chores.
  6. Cash,

    What is your typical share size?
  7. JK124


    Just put him on your ignore list. I did it the first time I read one of his posts. And please!!! Stop quoting his threads (the only way I see his posts) I feel dumber every time I read anything he writes.....
  8. your stops seem a bit tight to me for someone who 'sits on the sidelines' returns have skyrocketed since I have supplimented day trading with options swing trading.

    consider using multiple techniques and stategies to hedge your risk.
  9. In looking at your post again, I would suggest laying off stocks like aapl sndk and rimm-- you need to refine your strategy before trading stocks like that-- especially if you're putting on a .25 or 60. stop.

    Pick some slower moving stocks and cut down on your share size till you develop your strategy better.

    Hope that helps.
  10. ggoyal


    trading a stock like aapl or baidu with a .25 or even .60 stop is always going to make you lose money.

    obviously these stocks have a high dollar amount so they fluctuate 4-5 dollars everyday. if a stock is trending up or down aapl or bidu or wtv high priced stokc it is will fluctuate 3-4 dollars. it rarely goes up or down in a straight line( hence stop ineffective).

    so my advice to you, when u see a strong trend, dont put a stop of .25 or .60. u have to be little more of a risk taker if u see a trend. just let it ride for a little. check up on it every 30 minutes or so. now a .25 would be a good stop on a 4 dollar stock, but on a 125 dollar stock thats .2%. you will always get stopped out. even .60 u will.

    if you have been losing money for this long( from ur no. of posts) try to trade some stocks in the range of 4-25 dollars. also, when intraday, dont just look at the day's trend, also look at the past 4-5days. if the trend supports it, go for it, but after making some u must get out.

    even if i had 500,000 dollars to trade with, i would barely look at aapl or bidu. i like stocks better with prices of 4-25 dollars.

    but this is me, im not the best.
    #10     Sep 7, 2007