Oh yeah day trading is where the money is at

I did everything by the book. I had a plan, I had a stop loss and I had a take profit limit. I even backtested for several months the stock I wanted to trade before I jumped in.

But the fact my trading method and system failed completely, I honestly dont know what to do right now.

Damn dude that's some slot machine mentality. Doesn't sound like trading is for you, just chuck your money in something with growth/high yield and let it sit.

This made me laugh so hard. Thanks for that.

What was your method? Why did it work backtesting but not in practice? Did you let emotions trade for you?

The usual MACD, RSI and moving average crossover shit. I also drew support and resistance lines in order to time my entry points.

Backtesting assumes perfect timing...

I guess I got my timing completely wrong (entering and exiting trades) because otherwise the very same trades would have been profitable.

Thats easy for you to say. What would you have done if your strategy was failing and even your stop loss got spiked?

The "trade with no emotion" is completely bullshit, just like le "efficient markets" meme.

Only algo trading can "trade with no emotion"

You sounds like a smart guy, spent a lot of time learning this, don't just give up on this but try smaller amounts.

Yes timing is 100% of the reason people lose money on the stock market, whether it's a long play or a 30 second sell. If you lose money you bought/sold at the wrong time. At least you have acknowledged that and maybe you can work on it? Paper trade the live market and see how you go.

I would have had an exit plan. Starting with $1k I would have vowed to only be willing to lose $1k and thus only trade with $1k. If my method didn't work I would have to step back and evaluate. Obviously it's impossible to trade without emotions when it's your own money, it's a matter of stopping your emotions from making BAD trades.

this, God hates quitters OP. You know what's right, keep divinating over your charts, the money will come eventually.

What kind of portfolio are you putting together for $1000? Are you hedging at all?

It's not a portfolio, he's daytrading one security.

mostly this...

if you want to try short term trading then you're probably better off looking at longer time frames than the traditional 90s/early 00's day trader as there are HFT algos out there much faster at picking up the low hanging fruit

futures can be good if you're trading spreads - especially exchange traded spreads (which remove the risk of you getting legger or having to pay a grand a month for a crappy autospreadder than doesn't work and mostly gives up edge on both sides anyway)

again though HFT exists and if you're a point and click trader you're better off competing on longer time frames

>got stopped out just recently out of UWTI at 26.80, just barely
>rallies to 28.10+ during class
Fuck

>which remove the risk of you getting legger*

*typo: should read - 'which remove the risk of you getting legged'

do you even know the basic principles of HFT algos you meme-spouting dunce?

you can put together a small portfolio for $1000 if you want to, like a buy and hold, long only one

either something like robinhood or in the UK there are services like Halifax sharebuilder with low low cost commissions - it isn't suitable for active trading though

why so angry mr autist? what basic principles?

there are lots of things that fall under the term 'HFT' from electronic marketmaking, hegging, auto spreadders, liquidity taking algos that snipe at outright contracts over figures or that pick off resting orders and get into spread positions

and yes I do know a bit about one of these areas as I was formerly a point and click trader then I went on to develop an automated spreadding strategy

over to you....

28.30 now
JUST

Ah I see. Seems a little to risky for me. Thanks for the clarification.

you're just making it sound like a bad thing as opposed to a natural progression in the market that lowers costs for all participants

no I'm not, I'm just advising that if you want to get involved in short term trading then you're better off not trying the traditional scalping strategies as HFT is much more efficient in that area...

I'm certainly not anti-HFT if that is what you were thinking - it is just that a lot of what point and click traders used to do isn't very feasible and they need to look at longer holding periods... manually working limit orders etc.. tends to just mean that you expose yourself to offering liquidity when all the bots at the front of the queue have decided they no longer want it - usually because of a move in a correlated instrument that suddenly makes being at the front of the queue much less +EV and potentially -EV

you dont need money you need therapy

>implying therapy works

fuck off normalfag scum

>he daytraded 10:1 w/ 1K
Lmaoing at your life OP. I'm a newb and I'm not even stupid enough to do that shit.

Sounds like you're a fucking spastic retard. You don't deserve the money.

Will I miss the train every time if I don't wake up for opening?

>tfw you even missed the train you were planning to jump in front of

I'm literally using a oijia board to choose stock tickers now because my picks are constantly trash lately

when your strategy fails, you fucking switch strategies. pic related ate shit for about a week, then sold off everything and recovered using different stocks, to where I was before.

if I held my position, waiting for a turn around, I would've been at -15% right now.

don't worry, it has immediate followers.