Received 2 Karmas
xbows
1
xbows Jun 26, 17 11:49 AM

crazy with those penny stocks.

dtemple67
1
dtemple67 Jun 26, 17 4:29 PM

Bro, dont beat yourself up. This shit takes years. Ive been a breakeven trader for 2.5 years. You and i got plenty of time to go. But one thing i recommend working on is your risk to reward ratio. If you make 2 times more on a win than a loss, you only need to be right 33% of the time to break even. Making 2 times your loss is easy, and winning more than 33% of the time is plenty doable. Also, dont risk mmore than 1-3% of your account at a time. Risking 100-200$ on a 700$ account is suicide even

colossus123
1
colossus123 Jun 26, 17 4:44 PM

I agree alot with what's being said here. @xbows is right, it's not sustainable. If you look at my history after commissions I am a break even trader. I think it's useful up to a point to at least prove to yourself that you know what you're doing. Once you feel comfortable in your abilities just stop for a while. Relax and save your money to get after it once you have an account size that you feel is necessary.

xbows
1
xbows Jun 26, 17 4:54 PM

And focus on learning one setup at a time until you are comfortable and consistent with it 65% of the time at least. I use a couple of long setups and a couple of short setups. My last 6 trades have been long setups, dip buying or breakouts, and have all been profitable between 1% and 7.5%.

Join now or log in to leave a comment