It happened to me...BBOOOOO

Discussion in 'Trading' started by fastwanabe, Apr 25, 2009.

  1. After trading for 1 week with margin I screw myself.
     
  2. Not real smart
     
  3. you should probably post an image that doesn't have your email address on it.
     
  4. At least you admitted YOU screwed YOURSELF.

    And I'd re-post that pic without your e-mail addy on it.
     
  5. dirkd

    dirkd

    one thing i learned is never trade with margin. If your correct you don't need margin if your wrong you wipe out your account. Learn to live to trade another day. Take small losses. Go for singles, not doubles or triples or homeruns. 1 baby step at a time, and never, never trade with margin.
     
  6. You need a bigger cushion to trade individual equities. All the 25,000 rule is going to do is cause you to lose the account.

    Try futures instead with proper money management.
     
  7. How does one do a screen shot of something like that and block out personal info?
     
  8. paint...you can brush out what you don't want to show before downloading
     
  9. telozo

    telozo

    You cannot daytrade in a cash account.
     
  10. Ok, you got a taste of the other side and you didn't die.

    I'd suggest you cease all trading for at least six months and get a technique down pat.

    Find something besides cheap momo stocks to trade,something with good volume.
    Overlap trades are a good start and try different time frames.

    Scottrade will reinstate your margin privileges if you acknowledge in writing that you understand the implications of PDT and you promise to adhere to your limitations. Until then don't free ride.

    Eventually you'd be better served with another broker with good fills and lower margins. Meanwhile use ST's data feed.

    Seriously, get a handle on a method. You're trading on emotion.

    Good luck.
     
    #10     Apr 25, 2009