I've had some losses in the past 3 month if you do a search on my posts in the aftermarket thread you should be able to easily find them.
We all have losses from time to time, to say that someone never loses is simply not realistic.
As far as "sharing some tips" with the group I will give it a go however what works for me may not work for others as everyone has different amount of capital to trade with, different times they can trade, different devices/platforms they use to trade, and most importantly different attitudes/way of thinking and so on....I'm sure you get the picture.
Things that I use and have worked for me -
- Been positive, I don't entertain negativity or any negative thoughts.
- Been active, every morning I will do some type of activity before I begin my trading day...be it going for a run, a swim or cycling. It does amazing things to not only your body but it also keeps the mind very active & alert.
- I use a trading plan and never deviate from it no matter what. Win or lose on any individual trade it doesn't matter, what matters is in the long term and over a large number of trades my winners will outweigh my losers.
- Keeping it simple. I don't overwhelm myself with so many technical analysis.
- Not getting hung up on the story. I don't get married to the stock. Once my TP or SL has been achieved I'm out and onto the next trade/entry.
- If 80% or more of the entry criteria I look for on an individual trade have been met then I will increase the size of the that trade than say some other trade that only meets 60% or less of my entry criteria.
- I let every trade I take playout until it either reaches my TP or TL target. If I hesitate for example I could miss out on more gains. and same goes for changing my SL could end up costing me a lot more than what I had intended to.
- I use 2 Desktop computers, 4 monitors and a laptop as a backup. I hear of some people that try to daytrade on a mobile phone....that is a no no for me. I also like to have my buys & sells ready and pre filled out so I can act instantly once an opportunity presents itself.
Some of the things I look for in regards to entering a trade, each one has a certain criteria that I look for....
-Volume
-Market depth
- Announcements
- Stock sentiment
- How the stock has behaved previously as in does it have any particular historical patterns?
- Overall market/sector sentiment
There are more however I don't have much time this evening to go through them all as I'm off to dinner.
Hope this helps
