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ftsefutures Posts:1 2006-11-29 13:06:52 |
Day trading futures? |
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| Am I the worst trader in the world?
Does anyone else keeping finding themselves on the wrong side of the market all the time? Can anyone give me some constructive (not give up) and practical advise on this to help get my confidence back? Thanks |
| buklao Posts:4 2006-11-29 13:10:09 |
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| We all make mistakes. The market is a tough place sometimes. However, if you keep at it, invest wisely, you can make money. Check out http://ibooyah.com for investment ideas and ways to pick stocks. Good Luck! |
| iain Posts:2 2006-11-29 13:33:13 |
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| You need to take into account that a day trade that has
made a good profit can go into the floor broker‘s or desk trader‘s pocket. This is possible as he can leave buyer/seller‘s name in blank and only fill it in when reported or taken from the runner (the boy that picks up the slips from the floor). In some markets this is not possible since the whole deal (except the shouting) is immediately recorded. But when trading is wild, a fast light is put on, which allows 15 minutes to conclusion instead of only five. I could give you many examples but this is sufficient to convince you to change both your trading house and/or floor broker or, better still both. Find a floor broker that you know and trust, this is the only solution. It is almost impossible to always be the loser, so think twice and change your servers. |
| bluechihuahua77 Posts:1 2006-11-29 17:15:45 |
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| I have a background in equity options. The theory all over that world is that stocks move randomly in the short term. I subscribe to that theory.
So - I think that you are just unlucky to keep finding yourself on the wrong side of the market. Assuming that you are really day trading, and not buying-and-holding, then it is theoretically very difficult to do either very well or very badly. This being said, here are some pieces of advice. - Ask yourself if you want to continue trading. - If yes, then build confidence by lowering your trade sizes. If you do well, you'll build confidence, and if you don't, you won't have lost as much. - I highly recommend reading material on investor psychology. Conventional wisdom is that fear and greed drive the market. Nowhere is it more true than in novice day traders. One good place to start is a google search for "myopic loss aversion" (url below). Hope this helps! |
