Daytrading Psychology Message Board

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Strategies & Market Trends : Daytrading Psychology

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To: the Chief who wrote (18)	12/1/2000 5:48:03 PM
From: rocklobster	Read Replies (1) of 104

that point about "some of my best days I lost money" was brilliant.. this month i have traded BRCM three times.. the first two times I got stopped out for a five point loss each time.. but the stock dropped 55 points afterwards so even though I lost money, I only lost 10 points when it could have been 55 so those were very good trades. unfortunately, I went on to trade it a third time without a stop. bought at 110 watched it fall to 85.. almost sold at that point but am still in it today with a close at 105. even though I am still only down 5 points right now.. this is a very stupid trade... and one that kinda just got away from me... My problem with stops is I have never had one filled at my price... I almost always lose 1/2 to 3/4 or more on the fill I am usually trading at least 1000 shares at a time and often 3,4,5 or 10 or 20 thousand shares.. How the hell do you use a stop on 10,000 shares.?/??? I have seen market makers run a $15 stock down three points in five minutes only filling maybe a few thousand shares between the interim.. that would mean the potential for losing ten or twenty thousand dollars with the stop is very real.. and often times they run it right back up a few points right afterward. I just know it is some poor fool with a large stop order in that just got robbed.. and making it a stop limit order doesnt help cause then they just run right past it and never fill any of it... I have had many heated discussions with my brokers about this and it doesnt do any good at all.. they just give you the same old bullshit "fast market" "orders ahead of you" etc, etc.. How do you deal with this bullshit..... the only way I have been able to is by trading higher priced shares and way less of them but I still get robbed using stops nearly every time.. rok

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