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Posts posted by letfox
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Hi everybody.
I am currently working full time as a registered nurse in CA, USA and I am new to stock and day trading/ swing trading. I have the JP Morgan manage my investment account and money and pay yearly fee for the service. Recently, Chase has a new service for the private client to open the You invest/YouTrade account and all the stocks transactions through this account will be free. I started to buy and sell stocks 2 weeks ago. At first, I did not read any instructions, book or watch you tube video about trading. I just randomly picked the stock that I like and bought it. I won some money with Tesla, Uber and Lyft when I first started. This made me think trading stock and making money by trading is easy. Just last week, I tried to trade with the penny stock and started losing money since I did not know how volatile this type of stocks are. I am currently a bag holder for 3 pharmaceutical company type of stocks. I bought them with big volume (>10K per each) and since the price dropped really low, I am stuck with them :-).
Anyway, being a bad holder motivated me to find sources online to read and watch. I came across Andrew's book yesterday and got hooked. I know the reasons why I lose money now. I learn that trading is not easy as I thought. I wish I read Andrew book and learn how to trade before I started using the real money.
My goal is to become Day trader/Swing trader since I want to work less and I am really serious about it. I am a workaholic and I have been working crazy for the past 12 years. I work non stop, long hours and hold multiple jobs at the same time. I would like to slow down and take it easy. I found that day trading is fascinating. I love the new field and the new language. I believe I have what it take to become a profitable day trader. I would like to learn from the professional trader to better myself. I love to challenge myself to be a profitable traders. I hope I head to the right direction.
Please teach me and guide me,
Thao
Swing trade Risk Management (stop loss)
in Swing Trading
Posted
set stop loss for market price instead of limit price is super dangerous..it likes you give a blank check to others people to take your money away...Premarket and after market, volume is thin or not much liquidity so it is hard to get out of your position. A small buy or sell can push the price up or down big.....Alerts play big roles..set bunch of alert then when it alerts you, get out