DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Tai Jin who wrote (22)	6/6/1999 3:30:00 PM
From: Dave O.	Read Replies (1) of 18137

< One thing I've learned is to not over trade. It's very tempting to do this especially when you are losing. > Two excellent points. One need not trade 10, 20 or 50 times a day to make a living. Beint PATIENT and DISCIPLINED and waiting for a high probability trade is so very important. But, that's a lot tougher for someone staring at a Level II screen 6 1/2 hours a day. There is that urge to pull the trigger so that you are part of the game, an active participant throughout the day. I no longer feel "guilty" when I sit for perhaps hours and don't enter/exit a trade. As long as I know I can pay my bills at the end of the month I don't care how many trades I made that month. Your second point is just like the gamblers in Vegas. As you lose, you want to make it back quickly so you increase the bet size, enter low probability trades and make things often go from bad to worse. This again is so very dependent of ones discipline and emotional makeup. And sadly, many traders blow themselves out of the game completely with such high risk trading. Dave

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