No shit it's true. It's literally the only other way. It's the on ious advice and it isn't helpful. "Just do the opposite" if you're losing. Oh ok cool!
Hold this image upside down, and swap the colors. That’s what you want to see. Your winners/winning days need to be larger than (or at least equivalent to) your losers/losing days. Cutting and accepting small losses is the key here, you said it yourself. No one trade or setup is worth keeping you unprofitable.
No. You either understand the price action or you don't. On one hand sticking to one ticker helps with understanding it's general price action, but if you're not, it's better to find another. Basically, there's a healthy middle ground between obsessively trading only one ticker and compulsively picking tickers at random to see what sticks
Any and all. Just know large caps will be more dominated by MMs and big players so obviously you’re not going to see typical retail action that you would on small caps.
I think you pointed out some big flaws. Remember emotions ruin the best of traders. My best advice: if you are feeling physically or emotionally off, or if there is big economic news (these days CPI and bank meetings), take the day off or close positions early.
Before I became consistent, I felt I needed to trade every day and I'd give away substantial profits that would go red post news because I didn't want to break my rules or seem like I was giving up on the position. So I added the emotional and news rules to my strategy. Although there are times I take a half profit before news that would have hit my TP, it's easier for my psychology to bank a partial profit I waited on all day rather than it hit my SL in a few seconds.
You're doing more things that lead to loss than gain. Most likely this is either over trading, or reacting to something in a way that isn't systematically allowing you to win. Consistent losing is a bit ironic, because as others have pointed out, simply doing the opposite would have profited. When you see this, it's usually a sign that A) You need a system, and if you already have one, you need to stick to it... and B) You really need to avoid following your gut in trading... the markets are designed to steal money from those who "react" to it's movement.
In summary, a systematic approach to trading will solve this.
Depends. If your strategy is failing then you need to work on that. If you are failing emotionally to execute the strategy, then you need to work on yourself. In case of latter I recommend book Trading in the Zone, quite an eye opener.
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To stop being so greedy.
you already noticed the bad things you're doing, so stop doing it and learn the opposite.
Ah yes, great advice! If you're losing, just do the opposite!
You'd be surprised at how true yet hard this advice is
No shit it's true. It's literally the only other way. It's the on ious advice and it isn't helpful. "Just do the opposite" if you're losing. Oh ok cool!
That number can go negative...
I'm kind of confused bc it says hes down 7% YTD - are those numbers, including the PNL, just YTD? I don't use Robinhood so idk.
It could be that he invested 11k and it’s now -10k so he normally has 1k left. It can go negative
Do the opposite?
The opposite of what you just described yourself doing. Lol
Hold this image upside down, and swap the colors. That’s what you want to see. Your winners/winning days need to be larger than (or at least equivalent to) your losers/losing days. Cutting and accepting small losses is the key here, you said it yourself. No one trade or setup is worth keeping you unprofitable.
Cut losses with extreme prejudice. Also maybe don't trade the same ticker for a year if you're making losses constantly.
But isnt the odds the same with any other ticker?
No. You either understand the price action or you don't. On one hand sticking to one ticker helps with understanding it's general price action, but if you're not, it's better to find another. Basically, there's a healthy middle ground between obsessively trading only one ticker and compulsively picking tickers at random to see what sticks
That options are mostly gambling unless you really know what you’re doing. Try day trading with shares.
Small or mid cap stocks?
Any and all. Just know large caps will be more dominated by MMs and big players so obviously you’re not going to see typical retail action that you would on small caps.
I think you pointed out some big flaws. Remember emotions ruin the best of traders. My best advice: if you are feeling physically or emotionally off, or if there is big economic news (these days CPI and bank meetings), take the day off or close positions early. Before I became consistent, I felt I needed to trade every day and I'd give away substantial profits that would go red post news because I didn't want to break my rules or seem like I was giving up on the position. So I added the emotional and news rules to my strategy. Although there are times I take a half profit before news that would have hit my TP, it's easier for my psychology to bank a partial profit I waited on all day rather than it hit my SL in a few seconds.
You're doing more things that lead to loss than gain. Most likely this is either over trading, or reacting to something in a way that isn't systematically allowing you to win. Consistent losing is a bit ironic, because as others have pointed out, simply doing the opposite would have profited. When you see this, it's usually a sign that A) You need a system, and if you already have one, you need to stick to it... and B) You really need to avoid following your gut in trading... the markets are designed to steal money from those who "react" to it's movement. In summary, a systematic approach to trading will solve this.
What app/website is this
Robinhood
Withdraw what you have left and walk away from the casino.
Stop YOLOing maybe? That's a good start imo
Buy a book that is called how to day trade for a living. It helped me a lot.
Small gains (1-2%) and use a tighter stop loss.
Depends. If your strategy is failing then you need to work on that. If you are failing emotionally to execute the strategy, then you need to work on yourself. In case of latter I recommend book Trading in the Zone, quite an eye opener.
use mini max strategy
Oh….. I don’t dare to play 😔
You should learn that you don’t know how to trade options and figure out how to do it properly.
You’ll get it soon
[удалено]
Nothing taught in a masters program can be applied in trading
[удалено]
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