determine your max loss, and first price target for profit taking the moment you decide your trade. if you lose the same small amount every time, use the same amount of cash to build the position, keep your winning avg. over 60% (easier than you think), you will build a portfolio, vs. destroy one..
today's trade for me.. didn't work. but it would've been worse had i held.. WILL IT GO UP TOMORROW? probably.. but my time frame was the 15 minute chart.. and that didn't work out.
(i did much better on futures contracts last night, and so far tonite lol)
QQQ 12 Apr 13 (W) 69.50 Call
51708582 2013/04/01 09:09:10 2013/04/01 09:09:09 Buy to Open 4.0 / 4.0 $.31 Limit Day Filled
QQQ 12 Apr 13 (W) 69.50 Call
51713775 2013/04/01 09:39:00 2013/04/01 09:38:58 Sell to Close 4.0 / 4.0 $.25 Limit Day Filled
those calls closed at .18
we can't win every time, but if we control our losses, we win more. not that i'm a great trader. but you get the idea.
some may feel this post is useless retoric crap..
but the more people that become successful, the more quality trades posted.. the more i can follow and make money off of. so the BETTER YOU DO, THE BETTER I WILL DO. and that means...
MOAAAAAAAAAAAAAAAAAR BAGGIES!!!!!!!!!!!!!!!!!!!!!!!
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