i started trading stocks in 99 and knew NOTHING. always long for a couple yrs. so u know what happened. lost more than i should have,but i still tried. finally i thought i was on to something and won a little. kept trading what i thought instead of what i was seeing and lost again. i tried some things i read in a few books still no good. so after a two yr. break i started trading again 4 weeks ago. using just simple support and resistance,i've been patient waiting for my trades and have been right most of the time. cutting my losses quick,sometimes too quick. my problem is that i get out too soon. i make a few bucks and sit there and watch the trade keep going my way alot more. i know its an emotional thing,but i thought some of u might have some insight. at this point i'm just trading around 700 shares a trade. i trade the same 3 or 4 stocks all the time.so if u guys have anything to help please lets here it...thanks ..dave
You said it ... it is an emotional thing. Learn to control your emotions ... start smaller ... trade only one stock instead of 3 or 4. Exits are just as important as entries. Good Trading
weld I did a few videos on you tube that may help http://www.youtube.com/user/TradePilotPro I am going to be doing more this weekend is there anything you would like me talk about or do you need setups let me know Thanks, Joe Baker
It heped me to think this way... Targets are no different than stops; you exit when the trend reaches that point. There is nothing to regret if you have followed your plan. Good trading!
i guess i should clarify, i only trade one stock at a time. there are 3 or 4 i watch for set ups. i wish i could trade 3 or 4 at a time! its sad because i have traded the bet i ever have. just no profits yet. i am happy about my patience and discipline though. i have a real job,but i don't work all yr. trading is a great passion of mine. so far like i said i am pleased with myself,but this exit thing is starting to get frustrating. i know it sounds stupid to say i'm pleased without profits,but if u would have seen the results before. not pretty,u know revenge trades,getting in wrong and out wrong and just sitting there whining instead of watching and waiting for the right time.thanks for ur replies.
datamerc i know what u mean. i can see the next level of resistance or support, but when the price reverses a little i seem to bail too easily. the first tier of traders or scalpers to get out i go with them. most of the time so far i should have stayed for more.theres something in the price action or volume i'm missing. maybe i'm just over reacting big time. thanks again.
use the 34 ema as a support level 3 min or 5 min works well stocks and futures indexes retrace to that level and can get a good bounce off that level
That was messed up man. He is seeking help...that link you posted is like telling a 5 year old that Drain-O is Kool Aid.