Here's an info page that one of the guys on these boards put together from his own experiece.http://www.pricepatterns.com/
LU, MOT, ORCL, TLAB, WCOM, XOXO, CSCO, etc. man every one is a dog.maybe try to buy stocks that earn money would help.
<i>Electronic Day Trading --- David S. Nassar Rules of the Trade -- David S. Nassar</i> Yet another satisfied customer
70k in a month? either you are a millionaire who doesn't care about money, or you are delusional. You must have been making serious bucks to lose 70k in a couple of weeks. Some of that psychology will be with you for years... ...fortunately I don't believe you...I'd think the last thing anyone would do after losing 70k would come on to a posting site and say, umm....jee whiz, I lost 70k in a month, can someone help me? toodles,
"Wondering if this is just some big joke going on here.... ...after all, this is EliteTrader." Was thinking the same thing myself. Maybe TraderX has suddenly went bearish on us.
If your for real then a standard piece of advice is "Never risk more than 1% to 2% of your portfolio on any one position.". For a beginner it should be way less, maybe 1/2%. For a $100k account 1/2% risk would be 200 shares x $2.50/share or 500 shares x $1.00/share, and this would be Maximum. 7000 shares x $10/share is "unwise".