Received 8 Karmas
Noble1222
1
Noble1222 Mar 28, 18 5:47 PM

hey nodrog - many thanks for your comment. i'm trucking along, studying harder than ever and staying vigilent. wish you good luck in your journey too.

asfricksrs
asfricksrs Mar 28, 18 8:08 PM

Thank you...know you are not alone...I have a bag now and all its trappings as we speak and I know better. I told myself when I cut it I will become transparent and post all my 6 negative trades! Growth during the journey has many twists that we say "I won't do that" as the examples dance in front of our eyes! Tuition! Thanks for your post.

andreffael
andreffael Mar 29, 18 7:18 AM

Just wanted to give you props for sharing your losses, it's a great deal & I think it will help you overcome them. You also learned from them so that's good. Good luck on your journey, you can make it!

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Received 1 Karma
jungem05
1
jungem05 Mar 28, 18 2:38 PM

With such a large fee, you might try a different broker until you grow your account to where fees don't matter

Nodrog
1
Nodrog Mar 28, 18 4:26 PM

I agree with @jungem05. Try to find a broker with a more suitable fee structure. I started last year with a broker that charged me about 30 USD for a round-trip trade (1 entry + 1 exit). Due to the high fees, many trades ended up as loss or break-even, when they could have been profits. Had I been with Interactive Brokers from the start, I actually would have made net profit last year, instead of net loss. Also, try to find setups/patterns (and maybe higher priced stocks) that can give you more

Nodrog
Nodrog Mar 28, 18 4:28 PM

Also, try to find setups/patterns (and maybe higher priced stocks) that can give you more profit per share. It's hard to grow the account (in the beginning) when you are relying on pennies per share to make money. I'm currently trading stocks that have 1-3 dollars of profit potential. I find this better to manage (they are a bit slower than penny-stocks) and it helps me to avoid the habit of scalping.

jungem05
jungem05 Mar 28, 18 10:41 PM

@Nodrog I agree that IB fees is nice. But most people starting out with small accounts do not have the $10,000 required to open an account with IB.

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kobayashimaru
1
kobayashimaru Mar 27, 18 7:00 AM

Great post, I just purchased Trading In The Zone audio version and will listen to it on my daily commute and at home at my work station. I was also thinking of trading larger cap stocks and it sounds like it's working out for you.

Nodrog
Nodrog Mar 27, 18 8:49 AM

@kobayashimaru The audio version seems to be a smart choice in this case! I hope it will transform your trading, too. Larger cap stocks work out for me currently. I'm still at the beginning. So let's see what happens.

asfricksrs
1
asfricksrs Mar 28, 18 9:32 PM

Great strategy - Time for a good read too, thank you for your post.

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