I had been paper trading for a while and was averaging about $300 a day with a $1000 account, but now i'm really in it and I'm getting eaten alive but I just don't understand why... I cut losses quickly when the stock doesn't go my way, I short into major resistance and keep getting blown away.. When I go long, it typically will rise a few cents and tank out from under me and it's hard to really get out immediatly becuase I'm using suretrader's shitty active web platform but I'm using think or swim for charting. I just don't get what I'm doing wrong or know how to fix it. I'm only trading around 250 shares at a time. Thanks. @anyoneatall
Make sure you dont cut losses straight out of that gate as soon as the stock doesnt go your way. Sometimes they have tendencies to bounce back, so make sure youre not pulling the trigger too quick when you sell. Try to start with only a few trades a week and make sure you really do your research. Typically the best times to are premarket/post market or beginning of the day.
up $400 on RPRX- thanks guys for all ur tips
Funny i was kind of feeling the same thing in my mind!! but first thing is if you need to have a working strategy and an EDGE which you need to know and backtest!! and this video which really put things into perspective ! watch the whole thing and take notes!! https://www.youtube.com/watch?v=GhKJ9P3agRc#t=12
I am a total noob trader and I only trade on average1-3day cycle. What are you using for strategy? From your trades the "Cut losses quickly" mantra may be destroying you. I personally rarely cut losses because I buy stuff on sale and then I buy it MORE onsale.(my main strat). There is a volitility in price and I think your stops or cutting is too tight to take into account this "rubberbanding" as I lkie to call it.
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