I bought MU on weakness and scalped over 2 points in 10 minutes. I also scalped BLNK for .51 cents. I am done for the day and wont give back any of my gains. I can easily say i made 5k.. Thats would not be sincere. I made $1420. Keep in mind I have other income and dont need to rely on trading, hence I can trade without desparation.
I hope, for your sake, that you’re a trust fund kid if this was your best day in months. How are you going to travel to DC for another rally on 14 hundo?
I agree. That is why when I make a decent profit, I walk away for the day. It’s very easy to over trade and give away all your gains. Trust me, it has happened. Live and learn. Also, I dont normally make trades like today often, my normal daily profits are 300-500. Sometimes less, but thats an average. I do take losses as well but I keep them at a minimum, i am not profitable everyday. Most days I am though. Trading is a hobby and I do it for my retirement fund. I have another business. I am very good at identifying set ups using technicals. Does it work all the time, of course not. I bail when I have to and dont rely on hope.
Great job Tarzan, very happy for you Having another source of income dose take off the major emotional load while trading and having the greed to keep making more money to meet the financial needs, This often results in revenge trading and gambling behavior where you often end up giving back your profits to the market great discipline and i hope you continue to have such great days
Glad that you had a great day. Just know that when you get to the point that you don't feel the need to post about your day you will have become an an even better trader.
I can actually write a book on revenge trading. It usually happens after a big loss and big losses are always avoidable unless a stock is halted in which case you are stuck. Always keep losses small and always have a game plan.. why are you buying a certain stock? where is your sell point?
%% Most likely true; exceptions, include, but not limited to introverted moods. Other exceptions include, but not limited to, stuff like profitable Dow day trader, that posted many of his trades in a public journal. ''DONT you ever look @ the price of oil, an elite asked the profitable Dow daytrader ??'' NO, he noted , ''Dow is correlated to it self'' LOL True. Monthly measures[industry standard.....] mean more than a days profit or loss.
I hear the "Hound" charges less than a hundo - GunShine State to D.C. as long as you can deal with the aroma coming from the door at the rear and the hyped-up skills of the driver. But hey it beats breathing in pepper and bear spray and getting butt bumped for a 1/2 hour.