For now I will do a little day trading, follow the threads with great interest & keep the learning cap on.
Exactly the point Tide. Day trading at the beginning, can be a series of errors from which to learn. This is the first month I am actually up some money. The first year, I almost always lost. That is why a person should not go "nutso" at the beginning and buy tons. Many times, the beginner is not fast enough or doesn't see the signs (or false signs sometimes) soon enough. Although I still feel that I am a beginner at Day Trading, I still do a lot of theoretical trading like: "what if" scenarios, observe the market depth, look for the signs going up or down, interact with those on SI to get some opinions and feedback, participate in discussions of stocks you don't own but are "movers". Believe me the more tools you have and information, the better you are at trading (this was my initial mistake in trading-depth and real time are essential). It never fits in an exact profile, but you see things that would cause you to buy, and you see warning signs that would cause you to sell. "Babysitting" your stocks is essential, and also, I am beginning to learn to use "STOPS" to save myself a loss or slow reaction time. Each new level that is achieved, I adjust my stop. It also helps eliminate problems with on-line trading accounts. The point I am at right now is I am buying slightly late, and selling slightly late. Soon, I hope to be able to be fairly good at maximizing the potential on both ends of a trade.
Regards, Wisam |
