Seeking opinion from experienced traders

Discussion in 'Trading' started by Chikot, Mar 9, 2010.

  1. Chikot


    Hello Guys!

    I am a newbie in stocks trading. Started trading with prop firm slightly more than a month ago.
    I have seen some progress but I see that I have problem to reach more consistent results. when i have winning days it is in $5-6 range. when i lose I lose $15-20.
    I have not lost that much. $45 in last 7 days but I feel like I can do more but still as soon as I reach $5-6 and I continue trading I start losing.
    What i noticed is that in most cases I have more winning trades but pick 1-2 ticks most of the time when they go for more pips but I do take 3-4 ticks stop losses and often up to 6-7 ticks. looks like the math is not working for me to get to my goal of $10 daily consistently.
    Also, I noticed that losses start after 11:30.

    I would be grateful to hear opinions of those who made it.
    I am scalping.

    Thank you
  2. You are under-capitalised unless you meant $45 grand, and not 45 dollars.
  3. 1) You're "trading scared" if you're taking small profits.
    2) You're "trading stubborn" if you're taking larger losses.
    3) You may be tired after 11:30 and should stop trading for the rest of the day.
    4) Work on developing a way to expand your time horizon in order for winning trades to get bigger. :cool:
  4. gaj


    1130 - 200 or so is a deadish zone. breakouts don't work as much, stocks which have run a lot often revert back in, and there's more consolidation during that timeframe.

    lower your size and wait for better setups during that time.