Try this... Take the normal stocks that you would be swing trading and then day trade them with a bias in the direction of your swing trade. You might also want to try putting on a swing trade size position and then trading around it, this will also let you 'short' without an uptick (assuming your swing is long), just take off some of your position
i like that idea. i like trading a stock in a trend too. i think thats the bet way to go. also breakout highs are good. anything that has a trend
I trade a lot of KLAC... so you're the one whose contributing all that money to my accounts... ?!! ((just kidding)) Well... I agree with your frustration. I think anyone trading for 14 weeks ought to be close to success by now... and making money hand over fist. Maybe 38 weeks is golden; but ask those fib guys, they got it figured out better. seriously... bonne chance in all your endeavors in the markets! And I have one suggestion for you............... Plastics!!!! No seriously, slow down and learn some 'patience'!!!!! The market is always open. No need to push things. Whenever I push too hard... trade too much... I underperform. ICe
Of course the only responsible for my loses is me. $1500 is not a lot of money, the pain comes from the fact that it will be match more if I don't do something about it Agras
And also believe it or not most if not all of the $1500 went for commissions and data feed. Does not make any difference lost money is lost money Agras
A general remark: using tight stop, large stop whatever is like saying using salt or sugar for a meal recipe yes they are usefull ingredients but they don't constitute the core of the recipe : the core is the framework Second remark: if you are accustomed to another scale you don't have the same referential and there is something that is well known lower scale has often an opposite trend to the larger one especially at opening . See example here: for last friday the overall trend was bullish but the opening was bearish http://www.elitetrader.com/vb/attachment.php?s=&postid=427217 (the global bullish trend was also expected as I warned at least of a potential bullish reversal the previous day see "Now Bullish Inverted structure on scale 3" http://www.elitetrader.com/vb/showthread.php?s=&threadid=27783&perpage=6&pagenumber=10).
When I make 20 trades a day, I lose money. When I make 5 trades a day, I make money. I am a scalper. I wait for the best set ups. I think of it in terms of time. 8-9:40 one trade 9:40-11 two trades 11-2 no trades 2-3;30 one trade 3:30-4:15 one trade I look at 4 vehicles. I suggest NYSE stocks to day trade as they move slower if you trade stocks. GE is good. DIA is good as well as YM for beginners. Try to pick one good trade in each time frame. Become an expert in ONE stock. Move it into 4 at the most. And do yourself a favor. Swing trade what you do best. Papertrade your day trades until you are profitable. I lost 90k before I turned it around. That is a major emotional roadblock to get over. Don't start with a big loss like that. :eek: