A day by day, trade by trade blog about day trading by a day trader.
10 April 2006
Greed is NOT GOOD.
In about 5 minutes, after my last post, I made $80 on a nice little breakout. Then, I got greedy. I mistook a sell off for a break out and lost $500. Sigh. It's not easy to be unemotional about $500... but I'm trying.
I'm trying.
My account is flat. I should quit when I was ahead.
Day trading can be as exhilarating as a roller coaster ride, or as depressing as the day your dog died. You can trade well or trade badly. On any given day, you can make a fortune or lose your shirt.
I decided to start day trading a few years ago. But at the time, I didn't have two nickles to rub together. In the last year, that changed. All the time I've spent studying and reading—probably not enough— is now going to be put to the test.
I've staked myself with US$30,000 (DON'T ask me for any). This isn't play money. This isn't paper I'm trading on. This is real money. My money. Money I can afford to lose—but damn, I don't want to lose it! Will I trade well or badly? Will I make my fortune or lose it all?
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