So I have been at it for 2 months. I try and try, yet no luck. I look at everyones blotters and I notice that the Net Amount of PnL is about 1-2 pennies for every share traded. Now I notice some people hit a few stocks most being about 15-20. Also, some people hit 5-10 pennies per share(RM & Nysekiller). So for the average shlep like myself the goal should be 1-2 pennies on alot of shares. What I don't understand and maybe someone that is profitable could explain this to me. Are you in and out of trades all day long (ie someone who swings 1000 shares a shot and does 300k total have 150 RT) or are you making a few trades with huge size? Just curious, I think this is the mental piece I am missing. I was trying it off charts and trying to average 10-20 pennies a share. Alot harder than it looks. I guess another way is are you hitting 5-10 stocks with positions in all of them and just managing alot at one time (average profit being 1-2 pennies a share) So words on this would be helpful. I am lost in the ocean, and I can't find anyone to point me in any direction. I don't like to do anything until I understand the math behind it. Just the way I am built. Thank you all. B
2 months...it takes time. patience grasshoper. Can you be a lawyer in 2 months? a doctor? a somellier? you see where i am going. If you really like the markets, and enjoy learning about them..you will get it. if you are trying to get rich quick..you wont get it. it doesnt work that way.
You have to do whatever is comfortable to YOU! Don't worry about what everyone else is doing. If your personality/strategy fits 5-10 cents then do that.