Quote:
Originally Posted by Shaun Overton
sawyer,
It appears that I misinterpreted the statement. Yes, I would say that that is very good performance for two weeks.
Some people have reservations about making poker analogies to trading, but I believe that the experience is highly relevant. Poker made me a better trader and trading made me a better poker player. Both skills rely on managing emotions, allocating risk and calculating odds for success.
If you can maintain positive performance for a few more months (not even good performance, just "not losing"), then you may want to follow David's advice. Start with a small account to make sure you can replicate the success, then get bigger as your confidence increases.
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Thanks, yeah I think I've had a few lucky runs, but my trading strategy (I'll refrain from calling it a system since it is a very very basic idea) seems to rarely return losses. Even on really bad days, not only am I positive but I outpreform what people tell me a good portfolio returns (annual 10-20%, I return .33% x ~200 market days = 60%)
One of my bigdays was when I swing traded just as an experiment, and I did quite well.
My problem is that I have this preconceived notion that swing-trading is out of my control simply because I deal with some pretty volatile stocks and who knows what a stock could open at the next day completely passing my stop point(Am I right here? Your stop order is executed at MO price?) I just see it as an un-necessary risk that is completely avoidable.
So while people always told me Day Trading is riskier, I'd disagree, at least for the stocks that I trade. Am I wrong here?'
p.s. thanks Shaun, and thanks again David W.