There is an old Chinese saying: one will forget his pain when his wound is healed. It is so true in day trading as well.
I have held stocks overnight for many times in the past. The reason for holding a stock overnight is because I failed to exit the stock at the time I should, which will protect me from losing big. As I didn’t follow the rules and clear the stock at the right price, my loss became bigger and bigger. And the bigger the loss became, the more …

I’m of the belief that the single biggest barrier to success for most traders, is themselves. Psychology is one of the aspects of this job that is discussed the least, and yet when you ask most professional traders, they will agree it is the most important to understand. Master yourself and the rest is easy.
As traders, we know that we must run our winning trades, and cut our losing ones. This is of course, more easily said than done. How many times have you …

Today, I encountered one beautiful pattern and one ugly one. The sad story is, I let the beauty go, and engaged myself with the ugly one twice.  I didn’t observe the trading rules and eventually dug a big hole for myself. I used up all my morning time to recover my losses and has merely made it. It was a tough day for me, all because I failed to observe the rules: money management with position sizing, and detachment from my emotions.
Take a look at my losses first:

This morning, the …

The week of November 1 was full of excitement, happiness and anxiety. I must admit that I did make some big improvement in day trading. Every trading day since I started writing on this blog has been a winning day for me, be it a small or large win. That being said, I must also admit that I have not reached my target, which is $1000 for the week. I made $574 for this week. I reached my daily target for 2 days and missed for the other three. I …

This is my blog for logging my day trading activities. I am determined to master day trading technique and I think the hardest part is to keep my emotion in check.  I will use this space to document my progress in day trading, and lessons I learnt from doing day trading, success and failures I encountered each day, so that later on, I can check back my progress and share it with my family and friends.