Congratulations, you'r cured! Now close the account and find a fulfilling hobby, trading is not a good hobby
Well, keep practicing your method until you are confident it really works in various market conditions. Then start risking a little bit of real money with your method. Or keep practicing with paper. Or find out how to back test it. I have a feeling you don't really have an edge. What are your chart patterns? Study James Chen and Vince Vora on Youtube for some edges. Using a steep 20 ema for pull backs that get a candle continuation pattern is a simple edge that works pretty well. Trend lines: when the price bounces, you have an edge; when the price breaks through, you wait for some retest and you have an edge. There are lots of edges. What is yours, really? Also, if your stop loss is always too close, it will get hit over and over. Edit: oh, sorry, I guess 1-2 chart pattern is the edge you mean....okay, sorry, that certainly could work. You might need kinda big stops with that.
Basically, you're day trading stocks and that's a huge detriment. You should be trading futures so you can be leveraged when right. --Still get out with a small loss when wrong
^ That's right kid, instead of a wimpy 9mm to the temple, do it like a man, both barrels of a 12 gauge shotgun up your pallet
I've done testing on this for a long time, usually by the time it falls through my stop loss it's over. I have some odd philosophies about price action but I really think they work. I have never been so accurate with paper trading after I adopted this strategy and I'm always getting a better price. It's really support and resistance too. I sometimes use vwap but I don't really need it, indicators are lagging and have never done anything for me. Isn't there such a thing as just knowing how to trade? Good internet is an edge. I've saved hundreds of charts of past trades and I'm very accurate. I just don't want to lose anymore of my dads money. To me there is nothing wrong with my strategy, I've seen multiple entries and I wait for the perfect time to enter with very limited risk, It often comes down to not wanting to risk extra cents on the spread alone though with real money. That's why I'm really considering using half size. especially in a fast moving market like today. I think in times like this its the easiest and best time to grow an account though. Another thing to mention, it's seriously about getting positive to me. After I make the first 150 dollars 10 dollars is nothing to make 60. It's really just psychological.
When you say 1-2 patterns, you mean that particular set up, right? With those you need to grab profits fast, it pays a 1 to 1 risk ratio. Is that the one?
It's a particular setup and i've looked back on previous charts and it's always worked. and no, I'm looking to at least make 2/1 if not 10/1. It also can be leveraged because your risk % is usually very low. But my main question out of this is if there is really a problem trading 50 shares or something, will it go through on a small cap stock? will the exchange even recognize 50 shares, I used to be with suretrader and they didn't allow orders of less than 100 shares on stocks under 20. Of course I still make mistakes with my orders sometimes, sometimes I get scared and don't want to take a loss even though I check the chart in 5 minutes and I had an excellent entry.
It might be worth looking into semi-automating whatever it is you are doing...Just resting limit order with a contingent stop loss and a scaled exit...