Hello! Can some one give me some advice about day trading?

Discussion in 'Professional Trading' started by Mononoke, May 5, 2010.

  1. Mononoke

    Mononoke

    Hello again,

    I've been at this for about 4 months now and I'd like to share my experience. As most people advised day trading didn't work too well for me. :mad:

    I lost about 20% of my capital and that was that so I gave up. Instead I decided to do alot of short term swing trades mostly 2-5 day swings, some times i would hold for a week or two but never more. did some intra day trades as well but those were more about the right circumstances conspiring than anything else. I also abandoned most of the technical analysis and used only candle sticks, a moving average and volume analysis. That and I do a lot of fundamental analysis. this has worked well for me. I had massive losses in may when I was day trading. In june I basically broke even. In both july & august have been getting consistent capital gain of around 25% excluding one particular trade where I got really really lucky. I have to say I am glad that i had a decent idea about money management from the onset This has really shielded me from taking massive losses.

    So thanks alot guys for the advice.

    P.S: I'm trying to develop a neural network to help me fine tune handling cyclical stocks. Any advice would be much appreciated
     
    #51     Sep 2, 2010