I’ve went back and forth on trading strategies (won money and lost money) and have finally decided on short term day trading. I try to go with either momentum or catalysts. Averaging down don’t work for me - I’ll sell first. Being an investor (buy and hold) has cost me plenty so I don’t do that anymore (maybe I picked the wrong stocks?). I’ve made good money the last 60 days which in a sick way is worrisome because it came easy - too easy. When that happens I go back to my greedy ways and lose a pile. I still have the one stock and am waiting for a October Monday Meltdown next month before I buy more.
The problem I'm having right now is finding suitable stocks. My strategy is to try to choose a stock that would be profitable to hold if the day trade goes bad on me. I was day trading KRFT but the dynamics of that stock changed due to lower quarterly earnings and the short sellers are making it hard to get a nice run up and exit point.
I can feel your frustration. I feel it, too. I had losses but the gains came a lot easier. Maybe I'm just bored with my stock list and need to find some new ones. Best just to trade ones on S&P 500 or undervalued ones you have a good hunch about.
But I've got to tell you I had a heck of a time with one of my INTC buys, KO I got fed up and sold at a loss to put into something that made money, good thing it's further down now. PFE gave me fits. And now LLY I did that myself but who wants to wait for it to go up by $4. Been there done that with FCX (copper and gold mining).
I think we'd better get used to this crazy kind of market. I don't want to get scared out of it or do something really stupid. You post all those links of reports coming out, let's face it, we are on borrowed time financially speaking.
Take it easy. You can't afford to lose too many piles. Better to sit it out and see what happens.
On top of everything else, this O care has got investors rattled, too.