Intraday tactics and mistakes

Discussion in 'Trading' started by Kloto, Jul 3, 2010.

  1. Kloto


    Hello everyone,

    I've come to this forum to search for your advice, guys. I live in Russia and I am quite a new trader, I've been trading sinse New Year. At the moment I am trying to work with an index future and I trade inside the day. I should say I have major troubles with trading and I cant understand what I am doing wrong, what my mistakes are. I lost my account almost completely, so now I have kind of a last chance to change something in my trading style in order to make the account grow. An issue which I still can't solve is placing stop-loss and the necessity to use take profit. Otherwise, the question when I need exit position manually. I tried different combinations, but all seems to be wrong if you look at my account condition. I'm now searching anything related to intraday strategies and mistakes to understand what I am doing wrong. At first I tried manual scalping, but the price almost always hit the stops, people told me that now scalping is a privilege of automated trading systems and that it is hard for a human to success in this sphere now. Then I switched to intraday, but the situation remains similar - the price hits stop more often then it goes in a planned direction. Anyway, if you guys can give me any advice or share your experience, this would be highly appreciated. Thanks in advance.