Comments on: My 15 Laws of Trading http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/ Rome Was Not Built In One Day, neither the Holy Grail of Trading. -- Edward Yang Mon, 30 Jun 2008 05:58:31 +0000 http://wordpress.com/ hourly 1 By: My Laws of Trading (Revised) « 601M of Edward http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-45 My Laws of Trading (Revised) « 601M of Edward Tue, 08 Apr 2008 23:43:52 +0000 http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-45 [...] | Tags: day trading, stock trading, trading rules |   This is the revsied version of my laws of day trading, feel free to leave any comments or quesitons. Suggestions are very [...] [...] | Tags: day trading, stock trading, trading rules |   This is the revsied version of my laws of day trading, feel free to leave any comments or quesitons. Suggestions are very [...]

]]> By: 601M of Edward http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-13 601M of Edward Thu, 08 Nov 2007 08:32:34 +0000 http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-13 I started stock investing as an interest, and also treated it as a part time job. I started daytrading only about more than a year ago as a coop student. One year stock daytrading experiences helped me to realize how challenging this career is and how much i love it, how frustrating it could be..., and how much time I should devote into it in order to make a living... I trade/invest only if I have at least 5k disposable cash on hands. But when I trade for the company, the money is not really a problem. Due to the fact I am back to school, and not doing daytrading, I only spend about 2-3 hours per day to observe the market and make some swing trades, and spend about 1-2 hours on stock research and analysis, more on the weekend. Doing daytrading need to spend a looooot more time... Hope this answered your questions Thanks for the comment :) Cheers, Edward I started stock investing as an interest, and also treated it as a part time job. I started daytrading only about more than a year ago as a coop student. One year stock daytrading experiences helped me to realize how challenging this career is and how much i love it, how frustrating it could be…, and how much time I should devote into it in order to make a living…

I trade/invest only if I have at least 5k disposable cash on hands. But when I trade for the company, the money is not really a problem.

Due to the fact I am back to school, and not doing daytrading, I only spend about 2-3 hours per day to observe the market and make some swing trades, and spend about 1-2 hours on stock research and analysis, more on the weekend.

Doing daytrading need to spend a looooot more time…

Hope this answered your questions
Thanks for the comment :)
Cheers,
Edward

]]> By: Jen CHeeseman http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-12 Jen CHeeseman Thu, 08 Nov 2007 06:07:55 +0000 http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-12 How did you get into trading?? how often and how much money do you let yourslef trade? You say to take brakes when you are losing or winning, but how much time do you spend in a day or week in total? How did you get into trading?? how often and how much money do you let yourslef trade? You say to take brakes when you are losing or winning, but how much time do you spend in a day or week in total?

]]> By: Hongge http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-4 Hongge Thu, 18 Oct 2007 00:18:35 +0000 http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-4 Good summary! I especially believe not to pick tops and bottoms:-) Good summary! I especially believe not to pick tops and bottoms:-)

]]> By: 601M of Edward http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-3 601M of Edward Mon, 15 Oct 2007 20:53:29 +0000 http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-3 Thanks for the comment. Well, when you are doing day trading, you should have a stop out limit preset for the day. Let's say 1000 $, it means you should stop trading when your loss reached 1000$. 20% of 1000 = 200 $ When your Loss from top reach 200 $, at least you should take a 30 minutes break, to adjust yourself mentally/strategically. Loss from top means loss from your highest point of the day, no matter it is break even or 500 profits. Stop trading for 30 mins when you down 200 from breakeven point or down to 300$ from 500$. Daytrading is all about discipline, sometimes it is hard to stop trading for just 30 mins when your are losing control. Good luck. Thanks for the comment.

Well, when you are doing day trading, you should have a stop out limit preset for the day. Let’s say 1000 $, it means you should stop trading when your loss reached 1000$.

20% of 1000 = 200 $

When your Loss from top reach 200 $, at least you should take a 30 minutes break, to adjust yourself mentally/strategically.

Loss from top means loss from your highest point of the day, no matter it is break even or 500 profits. Stop trading for 30 mins when you down 200 from breakeven point or down to 300$ from 500$.

Daytrading is all about discipline, sometimes it is hard to stop trading for just 30 mins when your are losing control.

Good luck.

]]> By: Buck http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-2 Buck Mon, 15 Oct 2007 20:10:17 +0000 http://601m.wordpress.com/2007/10/12/my-15-laws-of-trading/#comment-2 Good tips! Would you explain #10 a bit more though? Good tips! Would you explain #10 a bit more though?

]]>