myHunch, you must have a sixth sense trading because when I went long or short I got overextended everytime. Maybe that's the secret, use less of a $ stake. For an amatuer like me, 10% stake would be all teacher should allow. Without a teacher one would be up a creek without a paddle. I had portfolio problems because stop limits didn't work after hours and couldn't get in out out fast enough. Being a non-professional day-trader, I ran a lot of risk the pro's have tools to avoid losing money. A pro probably can guarantee a loss no more than 0% or 10% or maybe 20% with the right trading platform. I might be wrong, but this is the way it seems to me.