Hi - how long have you been day trading the markets? What's your biggest lesson learned?

I've been daytrading since 1999, back when I had to use datek and quotetracker... nowadays using cyber and esignal is much easier.

Biggest lesson learned is to be 95% more "picky" about choosing specific market times to trade (midweek when nas premkt futs are >7, and when the compq is outside prior day's high/low), and specific patterns, eg 2-day high/low breaks and gap continuations, for over-$30/share stocks with 2 point ranges etc, and to confirm ALL entries with time and sales, speeding up, before putting on a trade.

How about you?

Ken

I've been day trading for about 2 years now.... My biggest lesson was don't trade After Hours or Pre-Market unless you know what you're doing. Lot's of Snipers out there that will take your money if you don't know what you're doing. Once I lost 8k in less than a minute.

I began poking at the notion to trade the markets back in 1999. I was the only one among the friends I rolled with at the time, that had any interest in doing so. I had no direction, knowledge or any clue how the markets worked, let alone what exactly "The Markets" were. Needless to say, after spending many weekends in Borders Book Store looking through the finance and investment sections searching for answers, then hammering away at the web (pre Google) when I got home, I was on a Quest. After researching and speaking with many people / and so called trading schools I came across DayTrading University and Ken Calhoun. That was back in 2002. I have been continuing my studies, and trading successfully to this day. Since then I have found some really great teachers, concepts, tools and methodologies.

My primary platform is TOS ThinkorSwim Desktop. I also use TradeStation, MetaStock and a few of Joe DiNapoli's tools for technical analysis.

My most expensive lesson learned (to date) is to "always" have a written trading plan - and follow it.

Risk Management - Manage your money - because when it's gone - you can't trade.

Use a realistic Risk to Reward ratio - it's much better to peck at the sweet spots with managed risk then to through a fist full of dollars into the mouth of the markets.

Pull the trigger - He or she who hesitates ... meditates ... and misses the opportunity to get into or out of a trade. A missed opportunity "is" a loss of money.

The market ... is Always right!

By following my trade plan (including - mindset) I have longevity in the markets and I am a successful trader. - Life is Great!!

Hi everybody

Glad to be part of this ever growing trader's community under Ken's expert guidance.

I have been a part time trader for over four years now. Since January 2008, I have devoted three days a week for day trading as by the end of this year I intend to be day trading full time. I trade options,forex and futures - ofcourse stocks as well. My results so far - not very impressive as I have not given my full attention to trading till just this year

I have done Ken's Forex on fire and have certainly picked up few strategies and improvement. I am looking forward to learning and improving my trading and take it to the next level under Ken's guidance and expertise.

Lastly, thank you Ken. Thank you for your courses and this platform and also for the Monday's stock poll on gold. Traded AEM small option Jul contract and so far in three days up $300!. Good start. Please do keep those ideas coming in!!

Wishing all of you guys and gals greater success in trading.
To Your Health, Happiness and Wealth!

Been trading 4 years...biggest lesson learned was to know in advance what my target and exit points are BEFORE I get in on the trade...what's my risk/reward ratio?...not just chase the market...doesn't work!

1 year .................

Hello Everyone
I have been trading part time for a little over 4 years. I have tried to learn what I could (with little success) and have not gotten very far. Taken a lot of lumps with nothing to show, but losses.
I am glad to have the opportunity to be part of something as great as Day Trading University. With their help I can change the direction I have been going in and learn how to trade with out fear loosing all the time I make a trade.

Hello Everyone
I have been trading part time for a little over 4 years. I have tried to learn what I could (with little success) and have not gotten very far. Taken a lot of lumps with nothing to show, but losses.
I am glad to have the opportunity to be part of something as great as Day Trading University. With their help I can change the direction I have been going in and learn how to trade with out fear loosing all the time I make a trade.

Thanks, traders - some great insights here. Agree re having exit targets set ahead of time is helpful; I like to 'map out' visually the maximum trade potential based on immediate past prior moves ("how long did it run before pivoting/consolidating"? eg .6, 1.1, etc), as well as simply using .2 - .3 trailing stops, watched manually in time and sales for realtime exits. There's a lot to learn.

Others? Let's hear from everyone!

-k

almost 2 years.
My biggest lesson learnt is the importance of money management and learning all the time.