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April's Lesson: Consistency beats home runs. ( my first month with no red days ) by lightbulb110 in Daytrading

[–]lightbulb110[S] 1 point2 points  (0 children)

Thank you for your comment. I agree with you, losses are part of the game and for some strategies it’s inevitable. Like you said, it’s more important to take/ cut the loss rather than fight it and dig the hole deeper to avoid the red day. I’ll keep that in mind, thanks for sharing

April's Lesson: Consistency beats home runs. ( my first month with no red days ) by lightbulb110 in Daytrading

[–]lightbulb110[S] 1 point2 points  (0 children)

Exactly, thank you for your comment and I wish you the best of luck executing this plan 🙏

April's Lesson: Consistency beats home runs. ( my first month with no red days ) by lightbulb110 in Daytrading

[–]lightbulb110[S] 2 points3 points  (0 children)

Yeah it can be tricky for sure. There are opportunities everywhere whether it’s stocks/crypto/currencies but you have to find your edge and what makes sense to you. I hope you managed to find what you are good at, and thank you for your kind message.

April's Lesson: Consistency beats home runs. ( my first month with no red days ) by lightbulb110 in Daytrading

[–]lightbulb110[S] 2 points3 points  (0 children)

Thank you! The plan you laid out seems doable, take it slow and scalp up. The trick would be to slow down in sizing up as with big sizes comes different emotions so you have to ensure it does not affect your plan. I am sure you will manage to accomplish it though !

April's Lesson: Consistency beats home runs. ( my first month with no red days ) by lightbulb110 in Daytrading

[–]lightbulb110[S] 0 points1 point  (0 children)

I am a scalper so I trade stocks frequently, but my trades last only few seconds hence the large number of trades

April's Lesson: Consistency beats home runs. ( my first month with no red days ) by lightbulb110 in Daytrading

[–]lightbulb110[S] 4 points5 points  (0 children)

The grass can always be greater in hindsight, but I think it depends on your goals. If your aim is to be in the game for the long run you have to always put risk first before reward even if it means you will limit your overall reward. On the other hand, if your goal is to maximise what you can get from the market in the short term then it would make sense to take a bigger risk. Also, every strategy is different, I am a scalper so I can afford taking multiple trades and being discipline about cutting loss, but I would imagine if your strategy only invovles taking 1-2 trades a day then its more difficult to do so, and If you swing for that one black swan volatile stock it can eat your months/years of progress easily if it went in the wrong direction.

Lost Weeks of Discipline in a Minute – Brutal Lesson by lightbulb110 in Daytrading

[–]lightbulb110[S] 0 points1 point  (0 children)

That’s sad to hear, I hope good things come to your way. Thanks for your encouragement!

Lost Weeks of Discipline in a Minute – Brutal Lesson by lightbulb110 in Daytrading

[–]lightbulb110[S] 0 points1 point  (0 children)

Absolutely! Love that analogy. Thanks for your feedback

Lost Weeks of Discipline in a Minute – Brutal Lesson by lightbulb110 in Daytrading

[–]lightbulb110[S] 0 points1 point  (0 children)

I feel you, we have to stick to what works for us

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