Rules and mistakes:
1) If day trading, close the trade same day unless it is strongly on plus side.
All the major losses for this year has come from keeping a day trade in loss.
I lost about $25000 from day trading AMZN and NSOL and keeping them.
Another big loss was on day trading RCNC of $8000.
Now I am having a loss of $10000 from HWP.
I initially wanted to day trade on it. Then I changed my mind and kept it.
There was a rumor of bad news on HWP and I ignored that.
A stock with bad news can go down any length.
Same about a stock with sector trouble.
As of now I have about $33000 loss this year from day trading and a net profit of a mere $25000.
Best is to avoid day trading all together.
By Jay Deb
No comments:
Post a Comment