Day traders' after-market lounge June 1, page-24

May I suggest trading in smaller lots until you feel confident. Losing $6000 is not an inconsequential amount, but more to the point is the damage it does to your psyche...when a traders is down the instinct primarily becomes focused on regaining the losses rather than following one's Trading Plan.

If you suffer a bad loss my advice is to not trade for a few days...so something completely different and then sit down go over your trade and see where you went wrong, eg
Was I being guided by others
Did I set entry and exit levels (ie profit target and stop loss).
Did it meet the general nature of my Trading Plan - for instance did it rise exponentially and could I get a 1 or 2 pip quick trade, was it a stock in a group which was rising that day (say as in gold for an example).
Did it meet my charting criteria

Etc....we all need to develop a Trading Plan and execute without deviating.

Trading should be mechanical.

Not to say that one should not have fun...but leave that for the end of the trade or day and I always suggest that one should talk to someone close and share both wins and the inevitable losses. Trading is lonely.

Enough of this old fool

V