Susie, Great Board!, a place where traders can post their trading experiences and share with others, Great Idea...
I trade mainly in the OTC/Pink markets, and any trader here knows that this is not like any other market out there. Your not only trading against ruthless mm's but you have to constantly keep both eyes on the market, due to dilution and the many other issues that plague this market. Regardless, it is a market just like any other, where money can be made and lost. I trade for profit, I don't know how much that will be, it all depends on the stock and how it acts. When I place a trade, I already know my exit strategy and have my game plan ready. If the stock goes against my plan, I will cut my losses and I am out, period! One thing I always try to do is sell into strength. I know it sounds easy, but with these stocks you could have a day with no vol, and the next day hundreds of millions of shares trade, and back to a day with no vol, and a nasty spread. I like to sell when I can, not when I have to...
Over the years, I have learned a great deal as a trader, but the most important thing I have learned is the ability to stay objective, and trade without EMOTION! Trading and emotion don't mix, when a trader is acting on emotion they are unable to make clear decisions, and they usually end us loosing money time and time again. Emotion can cause you to chase a stock and hold one that is tanking, in hopes that it will turn around. I am by no means perfect, I've had to refine my trading strategy many times until I found one that is comfortable for me.
When I first started trading, I took many beatings trading on my emotion and lack of knowledge, but those experiences helped me to become a better trader. Trading is just like life, you never stop learning and developing. It is that constant refinement that makes us better people and better traders.
IMO, successful traders are nothing more than traders that learned from their mistakes and continually adjusted their trading strategies until they found one what works for them...
