Just a few days ago I made a post about how I was switching a swing trading. Unfortunately what I found is that I was losing sleep and checking things after hours and all through the night. I have been swing trading for a few weeks and didn’t realize how much I was stressing myself out from when the market closed until it opened the next day. today I did some daytrading and made some money and I’m flat at the close. It’s a super big relief I don’t even care what’s happening after hours no need to look.
Are you doing this swing trading day trading for a living?? Back in the day there was no overnight trading so I guess for some it was a bit more easy...I still think it's great that now thousands of stocks can be traded at any time from Monday to Friday.
no I have a remote sales position. Unfortunate because I work out of my house and can trade during the day while I’m doing my other work. Maybe someday I will be full-time. There’s been a couple of times in the last five years when trading was my soul source of income
I read psychology of trading things every single day. This is 100% a mental game. OK maybe 98% but you got my point
Isn’t the goal to find out why a few losers can wipe the month’s or even the year’s gains? I use to play chess tournaments, tennis, video games competitions and my greatest enemy was myself. I always thought I failed at the psychological part.
Anyway .... swing trading - you spend sleepless nights because the sky keeps on falling down day trading - you have to concentrate intensely & continuously for a few hours everyday no trading - perhaps no stress? You have to try various types of trading for at least a decade before you can decide which is least stressful.
Dude, you're all over the place. I'd stop for a bit and re-assess. The problem with daytrading is that you'll lose some money chasing something and then sit on your hands and miss some setups. You cannot afford to take days off, long breaks, etc., and many of your issues are going to close at the H/L and continue to trend into the next session. You're going to go flat EOD and buy the gap the following day? Reduce your daytrading size by half and turn them into swings provided the setup carries into the close. Use options as a hedging vehicle. Long shares -> rally -> buy cheap puts which converts the trade into a synthetic long call at much edge. The puts will be "cheap" bc you're marked up on the shares. You don't need to know anything about vol.
Why the stress? What are you afraid of? Are you engaging in any of the top mistakes that lead to trader failures?
It’s just my nature. I’m gonna check on these positions overnight. And check on the futures and foreign markets and so far to try to get an idea where the positions are gonna open the next day. I’m not saying daytrading doesn’t have it issues and it certainly does but at least I can have some peace at night