Day Trading Advice: Recovering From A Bad Day
This trader goes over the harsh reality of what happens when you have a bad day when trading and how to recover. Check out more videos from Lightspeed Trading’s Trader Talk Series at www.lightspeed.com
September 8th, 2010 at 9:42 pm
WOW!!!!!!!!!!! Thank You very much. Your video slapped me right where I needed it. I am a thousand dollar guy and everytime I try a different move — I have a bad day.
September 8th, 2010 at 9:55 pm
Absolutely true! I am a Commodities trader and have had those days, down 15k in a day only to get in to make it back again which as you mentioned always results in more losses. Getting back to the basics is whats important. hit singles again and start fresh, do not get into a mode of revenge trading.
September 8th, 2010 at 10:33 pm
please teach me how to trade mann
September 8th, 2010 at 11:33 pm
please teach me how to trade mannnn….
September 8th, 2010 at 11:56 pm
please teach me how to trade mannnn….
September 9th, 2010 at 12:13 am
so fukng true !
thx for brining back to earth
September 9th, 2010 at 12:51 am
Very wise words, man. Thanks.
September 9th, 2010 at 1:09 am
Very wise words, man. Thanks.
September 9th, 2010 at 1:35 am
Thanks for the advice. I pretty much had a consistently bad week (small losses everyday). Right now I have to take things slower and try to focus on small trades. It’s really tough to see red for days straight though…
September 9th, 2010 at 2:32 am
TRADING PANACEA.
I HAVE THE HOLY GRAIL OF DAY TRADING.
So basic and simple, but tough.
1) A good entry (of which you already know to employ.)
2) A pre-planned exit. (of which you have already built the emotions and discipline for: A profit target, trailing stop, or stop loss.)
3) To be aware that its just all you, predicting something that one doesn’t really know for sure HOW THE MARKETS WILL PERFORM FROM ONE MINUTE TO THE NEXT — only that you DO THESE THINGS.
Eddy.
September 9th, 2010 at 2:54 am
EXACTLY THE WAY YOU PUT IT
September 9th, 2010 at 3:48 am
thank you for the reality check man.
September 9th, 2010 at 4:26 am
It’s true, after a hit, you *really* need to see some green on the screen even if it is done with smaller lots than you normally trade. The markets will otherwise sense a loss in confidence and will eat you alive!
September 9th, 2010 at 4:34 am
I’m a forex trader so I dont know anything about scalping stocks, but how has the event of black box trading effected day traders?
September 9th, 2010 at 4:50 am
Great stuff!
September 9th, 2010 at 5:09 am
great advise , recognizing mistakes early very important .
September 9th, 2010 at 5:58 am
real good advice Ill keep it in mind when i trade,especially the defense part.
September 9th, 2010 at 6:04 am
Hi, thanks for your excellent video and words of wisdom. You have definitely given me motivation to get back in there after a tough run, my experience is just like your collegue. I like the strategy to recover slowly, gradually make the money back defensively, reduce the amount and go back to basics. Excellent advice!
September 9th, 2010 at 6:43 am
His name is Marc McCord. He runs the Jericho LI office of Lightspeed Trading and is a long time trader.
September 9th, 2010 at 7:08 am
with whom do you work? in what brokerage firm or trading floor? very good points for every trader