By in Business

A tough day of day trading

If you have read other blogs I have posted elsewhere, I enjoy doing a bit of day trading. I think I like it because it involves numbers which I have always liked and it is also a bit of an intellectual challenge.

Day trading in stocks and futures should not be taken lightly as it can result in big financial losses if you do not adopt careful risk management strategies. this includes things like using stop losses, not risking too much of your total pot of money on one trade and having a clear strategy in your mind.

Despite that it is still the case that some days are good and some days not so good. Today has been a real rollercoaster for me. I got into some trades early in the day which put me down quite a bit on paper. Happily those paper losses have largely reversed so although I will probably end the day down it is not a disaster and I am still up on the week. It is important to take a longer term view rather to even out the fluctuations.

So overall I am not overly happy with today as I made a few poor decisions but I live to fight another day.

Picture is my own original.


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Comments

LadyDuck wrote on June 13, 2014, 12:33 PM

This was my hubby work for so many years. Now I do not even want to hear the word stock trading.

poddys wrote on June 14, 2014, 3:48 AM

I have done some online trading in the past, but I'm not very good at it. One stock I bought at 6cents (while I was in the USA) rose to over $1 in a matter of months, and on an investment of $1,000 I made about $30,000 profit. I then bought more penny stocks with the profit, but 1 by 1 they have sunk and gone under, so my net profit now is about $2,000. As I said, I'm not very good at it... My only good stock right now pays 4% dividend a month which I re-invest in more stock.

nautilus wrote on June 14, 2014, 3:50 AM

Penny stocks are notoriously difficult to pick

jotomy wrote on June 21, 2014, 3:52 AM

I was there with forex and it needs lot of time to spend and now I left that because lack of knowledge in it and afraid of loosing money

AliCanary wrote on February 21, 2015, 6:53 AM

Ooh, day trading scares me. I'm a buy-and-old type of girl. If you are good at it,, though, go for it!

LeaPea2417 wrote on December 30, 2015, 7:19 PM

I have never ever done any kind of day trading. I knew someone who did that for awhile and did well but then lost a lot of money at one point.