i agree with FasterPussycat. you lost $70,000.00 and you are on a message board looking for help. you need a miracle. sincerely, hope this is a joke.
if this is true, you're a perfect example of why daytrading has a bad reputation with the media. you have no idea what your doing and you are trading 3,000 - 7,000 shares. you weren't daytrading, you were gambling.
ok mentos, you're right, it's easy for me to sit here and "rip on you" or say negative things. So I'll make an effort to help. The best education that can't be beat anywhere, is pure market experience. With that being said, your goal shouldn't be to make the most money in a given day/week, or even be profitable. It should be this: to stay in the game and make 5 solid disciplined trades. Staying in the game...!!! You need to stay in the game long enough for market experience to connect with all the stuff in books... then, when that doesn't work, get a personal mentor...or do the personal mentor thing first...i mean personal reading emails is one thing but a live mentor is 100 times better... toodle-do
iiphos: This is not a joke and I do not understand how some members see this as a joke. This was day trading on the basis of book knowledge, news and other factors, granted there was no technical (chart) reading involved. (mistake) If one wants to start daytrading and start to acquire knowledge, you will see there is a jungle out there and one has to find the way out and that is all I am looking for. Thanks
Motas, Here is my two cents: 1) take your size down to 100 shares; 2) quit reading about multiple styles and focus on the style that brought you your profitable trades; 3) change brokers, I would say Terra Nova, not IB, you need some support; 4) think of it as tuition.
Motas: I am no expert trader but look at www.traderslibrary.com for books. Best way to select books is look thro forums here and in books section also on this board. Also look at amazon.com for reviews about what other people think - take reviews of editors, writers etc.. with a pinch of salt. Also ask for suggestions to good books here on forums. Read some proper books on trading. On no account act on suggestions in the books. At the same time listen to market news, read forums here extensively. But that doesnt mean act on views and/or suggestions. Paper trade for a while. Trading is about using your common sense, not about what you read in a book or in some forum or thro listening to the radio/tv. When you think you are ready to trade, follow the excellent suggestions that nitro suggests above. Everyone please add/correct to my post. Regards, Splat