If you talk to any trader who has been profitable in this game for long periods of time, they can't stress enough the importance of only having one or two solid setups until you are comfortable in expanding your horizon. if you come into the markets looking to trade anything that runs, chances are you are going to lose all of your money. Not only that but when those one or two trade set ups come around i'm scared to have confidence because i keep taking losses on random stocks which is affecting my ability to identify the best of plays with most profit potential.

a perfect example of this was $PACB today.. straight off my WL today was the 4th day of an overextended run up, looking to be a great short set up on the break of green to red. i ended up trying to short the front side of this move on the first pull back. i didn't let my entry form and ended up taking a small loss.

Then i tried to short again when it made a lower high, but ended up stopping out for a very small loss. this wasn't that bad because atleast i wasn't chasing , but i still wasn't waiting for the PROPER setup... Finally towards 10:30 i got my green to red move which was by far the best of the 3 trades because i waited for my set up, but i was much more protective and scared because of my previous two losses. i ended up only selling for a 10 cent win(i'm still happy its a win!) but since i didn't have good confidence i left 35 cents on the table...

moral of the story, don't trade random bullshit just to trade. wait for solid plays that you study and recognize, then attack like a sniper with confidence.. you will certainly make  more money because less truly is more in this industry