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A newbie who lost 10% of his investment on day 1
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A newbie who lost 10% of his investment on day 1

  #21 (permalink)
Elite Member
Luxembourg, Luxembourg
 
Futures Experience: Advanced
Platform: TWS
Broker/Data: Interactive Brokers
Favorite Futures: Stocks
 
Posts: 491 since May 2012
Thanks: 1,641 given, 1,139 received


Krav69 View Post
Not that I would know how to hide from my bosses while I checked my stocks or anything....

I am lucky in that I don't need to hide this, however, if swing-trading or if holding for the longer term, it is quite easy to just set up everything using stop and/or limit orders. Do most of your homework at night, decide on potential buy points and place your orders. Use OTO orders and you can set up your stop-losses as well. No monitoring needed.

If I pay more in $30 to Interactive Brokers in commissions a month (to avoid their $10 minimum charge), I usually have a bad month. If I just ride the positions out, I tend to have good months.

It is also a lot easier to let your profits run if you don't monitor the trades all the time. It is just one way to avoid self-sabotage.

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  #22 (permalink)
Elite Member
Mumbai, India
 
Futures Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
 
iqgod's Avatar
 
Posts: 1,668 since Feb 2012
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grausch View Post
.
.
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If I pay more in $30 to Interactive Brokers in commissions a month (to avoid their $10 minimum charge), I usually have a bad month. If I just ride the positions out, I tend to have good months.

It is also a lot easier to let your profits run if you don't monitor the trades all the time. It is just one way to avoid self-sabotage.

This is good advice.

As the saying warns: penny wise, pound foolish.

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