/biz/ - Business & Finance

>>24203150
Like I said, I make between 1x and 3x of my risk. So if I'm risking 200 I make btwn 200 and 600, every trade.

Do some more googling about day trading, you'll find that everyone talks about something called a risk/reward ratio. What this means is that I'm always making more money on 1 successful trade that I'm losing on 1 losing trade. So this allows me to be green even if I have only 1 good trade and let's say 1 or 2 bad ones. Today I took 4 trades and only this FCEL I posted was green, yet I still ended basically breakeven on the day. Wrong 3 times, right just 1 time, and I'm not losing money. This is extremely important. It let's you be profitable even if you're right only 50% (or even less) of the time

Once you start day trading as a career, you have to understand that you will never have one trade which turns you a millionaire. It's a system and you have to treat it like a computer program. Im in a trade to make more than what I risk, that's it. I literally do math and if my stop loss is 50 cents away, I have to aim to hold it until I hit a dollar profit. No idea how high the stock will go, but once I make my money according to my profit targets, I'm out.