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You have the right mindset which is great, just find one or two pattern that works then stick with it until u can expand, big things have small beginnings!
I agree. There's no market volume today to bring any trades worth it. It's probably due to the Major Exchanges having a could of red days this week.
I feel ya! I made a little bump on YANG.
good observation. are you on a margin acct? i had a similar problem originally, but ever since i switched to a cash account i can trade everyday. i do this by using 1-2k per trade per day while maintaining a risk of 1% of my account. so roughly 75-80 dollars risk per trade. maybe this could work for you rather than a margin account. it keeps you a lot more disciplined imho.
Rough man! I made a similar mistake on RHE this morning... Turned a potential $600 profit into a $160 profit. Could be a lot worse, but still kicking myself for getting greedy and not selling at least half at $0.60 or upper fifty's. It sure was moving fast! Oh well... learn every day!
@TimO Dang man. I'm just glad I'm not the only one! Good luck to you in the future. Good learning opportunity for both of us!
Yeah same thing happened to me on $NIHD yesterday and $ENRJ on Tues. On $NIHD, I was up almost $80 which is huge to my small trading account. But I held too long and finally got out at my buy in price so I only lost commissions. For ENRJ I bought in on the run up and held until the bottom of the pullback. The good thing is that I'm slowly learning to have some patience and take profits when you have them.
BS, I know that there is a part of you that wants the freedom that comes with trading, I wish you all the best with your trading but I would rather spend that time studying my ass.
your taxes on trading profits should be less than payroll taxes. in my state payroll, FICA, federal, state, unemployment eats 33% of my paycheck. my short term capital gains are 20%.