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.