21 Jul Inside the Life of a Day Trader: Part iv
Continuing in our 5 part series, there will be days where a day trader faces obstacles in making money. It won’t necessarily be about the markets or the lack of opportunities in the markets. You can’t blame the markets for your losses so who do you blame? Of course, yourself. When I find myself not making money and my losses for the day reach a certain threshold then I call it a day. From all my years of experiences, sometimes if the day is not going well for you then you have to stop trading to preserve your risk capital. So what do you do? You spend the day analyzing why you lost money. Maybe you traded the wrong stock or didn’t follow your plan? I document all my trades and write comments beside each other so I can learn from my mistakes. Part of becoming a successful trader is knowing what you’re doing wrong and avoiding those scenarios. The good thing about a day trader is every day is a new day. Stay tuned for the final part next week.