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#1
02-08-2010, 07:54 AM
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Hi Everybody
Just found this site by clicking on Ray's profile at Fchat. Site looks good!
I've been trading for over 3 years now and am always looking to be a better trader in the hopes of becoming consistently profitable and making a career out of it. I started out swing trading a few small cap stocks. Ended up losing a little bit of my account, then I found out about currency trading--the land of real leverage. And real large losses for me. Ended up blowing out my account, which was a painful experience, but a great teacher. So for the last half of 2009 I didn't make a single trade, but instead printed out charts and studied as much as I could. I'm back to trading now with a much smaller risk and am just looking for small consistent profits. I hope to "make it" and hope everyone here does to. Good luck guys! 
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#2
02-08-2010, 08:35 PM
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Quote:
Ray
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#3
02-09-2010, 10:23 PM
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The only and best way to earn your stripes. I lost big too in my beginning days, I didn't blow my account - but lost a little bit over 50% of its value(to some people, that's as good as death). I was basically gambling - and got emotional, had little discipline, etc. I would bet my entire portfolio on one stock pick - like buying one of the highest risers of the day - hoping it would go up still. But of course, more of the times, I would buy late or it would just go down, or didn't take profits fast enough, got greedy. Another silly thing I would do was buy the biggest losing stock of the day, and sell it the next day after a bounce, or rise. lol I had a little success, but more of the times it remained nuetral, if not decline further. In retrospect, my worst fallacies were not the things mentioned above...but not closing, or cutting my losses. My ego was too big to not want to take a hit - I foolishly told myself...wait, wait - it will go back to get your losses, if not profit. Yeah, but when...7 months? 7 months is 7 lifetimes to a day/swing trader. I'm still recovering, but my winning % is much higher now.
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#4
02-10-2010, 12:11 PM
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Lawrence, good to hear you're a recovering market loser, like me.
 I've gotten out of reverse, and am now in neutral trying to get into first. You mention having an ego trading, and it happens to all newbies...they'd rather lose money than admit they are wrong. A year or so ago, I would change up strategy's every couple weeks after running into a bad spell, because I would equate losing money to being wrong. Losing money is all part of the game though, just can't let it get out of hand.
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#5
02-19-2010, 09:23 AM
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Hi there!
Welcome to DayTrader.com.
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#6
02-22-2010, 03:57 AM
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well i hope you have more luck than me im lost and am about to give in i aint got into 1 single chat room yet
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#7
02-22-2010, 12:17 PM
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Welcome to the site. To enter the chat room, just click the "chat room" link on the menu bar. Then enter the channel. There are some instructions on using the chat room in the site announcement forum as well Ray
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