Do we have any day traders in here?

[Pablo]

Losses suck.

Greed kills.

The "easy" part of investing/day trading is learning and keeping track of errors that lead to losses, and not repeating them. Yet, a large percentage do the same wrong things over and over again. I'm not perfect here, but I try. I know my weaknesses.

The tough part is winning. Or rather - specifically seeing a stock continue up after you sell. Yes there are plenty of learning materials on when to sell, but still there will be a bunch of times when you take your profit and the next day you could have made XX% more.....this of course is greed. Recognize the symptoms.

 

[Patman]

I've noticed that with my fake portfolio too, that there have been a lot of stocks that I "bought" earlier this week which have continued to climb up a lot more after I sold them. One for instance, I "bought" at $1.13 and sold at $1.16 a few minutes later. But now it's at $1.59! Had I just held onto that one in particular, I could've made $4000 just on that one stock alone, in just 3 days time.

Obviously hindsight is 20/20 though, and it's easy to look back and say what if, and at the same time you just never know if something is going to drop incredibly fast and you'll lose it all.

I'm learning a lot from my fake portfolio, for one I think I jump out of a lot of things far too quickly. Who knows, maybe someday I'll jump in for real, but as it stands right now I'm going to just play with fake money. (or as I said earlier, I might invest that small sum of my pension money that's coming to me, but I probably wouldn't day trade with it, but would just pick a couple of different stocks and hang onto them for a while)