Daytrading Psychology Message Board

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Strategies & Market Trends : Daytrading Psychology

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To: rocklobster who wrote (26)	12/2/2000 1:44:05 AM
From: Ken W	Read Replies (1) of 104

rok, Hi, new to the thread here and may be butting in. If I may suggest limiting your share size to smaller amounts, say 300 to 400 at the most. If the trade goes against you then your downside risk is limited to only 3 or 4 hundred dollars, rather than thousands. In this recent market I've found that 2 or 3 trades per day net 700 to 900 dollars per day. More than enough for my meager needs. My discipline is to trade only stocks that I know well, (there is 10 to 12) that I know will move at least 1 point each day. I take that point and do not go for more. If it a stock goes up 5 then oh well. I limit my downside to 5% of the cost base...except for MU recently, which totally blind sided me on a pullback from 41ish. <GGGG> Ken

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