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DoomerGloomerBloomer t1_iubibv7 wrote

Stop losses are only good for locking in your loss.

Risk management comes down to how much capital you put at risk, nit setting yourself up to get stopped out.

Most dramatic moves are pre or post market, so most stops won't save you anyway.

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squeakychain OP t1_iubju0x wrote

I agree, however I think that as long as you are day trading you should open and close every position before close, if willing to swing then you should decide before trading how much you are willing to lose.

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DoomerGloomerBloomer t1_iubkg7k wrote

Day trading is a meme. Literally no retail investor is a successful day trader. Just doesn't exist. Only con artists will claim otherwise and they're always selling a discord server or subscription too.

If you're "day trading" then you're going to run a negative cash flow operation before long.

Law of averages applies to capital markets and it's why "buy and hold" is also a meme: fewer trades are much more advantageous than "day trading".

This alone is probably why 99% of this sub is negative on an absolute P/L.

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