DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Hands Off who wrote (1258)	6/22/1999 5:01:00 PM
From: Michael Friesen	Read Replies (1) of 18137

Marshall, Most traders have this problem sooner or later. The shorter term you trade, often, the harder it gets to "pull the trigger." There is no formula for how to deal with this. My suggestions: 1) Often the root is a fear of taking losses. You need to have a trading plan that keeps your losses small. Only by taking losses will you get to the winning trades that make up for it all and then some. 2) In light of #1 - are you trading with true "risk capital" that you can afford to lose? If not - then get some first. If it is risk capital, then, assuming your plan uses good risk control, say: "I will follow my plan and trade aggressively when that is called for, until and unless my capital declines by X%" Decide what X is BEFORE you do anything else. 3) Don't feel like you have to be trading all the time just because you have real-time quotes. Your goal should initially be to make just a little bit of money each day, consistently. Don't worry about making a killing. Refine your trading plan to give you only a few positions each day (if that) to focus on. I'm still learning. Hope this helps, Michael Friesen (The Quant) intelligentspeculator.com

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