[LIVE] Day Trading | Starting My Day in a $160 Hole…

It’s never fun as a day trader to take a trade in the premarket and end up in a hole before the official market open at 9:30 am eastern. That’s where I found myself in this situation. I tried to make some money within the premarket trading but, I was wrong and had to admit defeat and take a loss. This pertains to day traders with lots of experience, but especially beginner day traders. Please understand that part of day trading is managing risk and accepting the fact that at times, you will be wrong and need to lose money. There is no such thing as a perfect day trading strategy or set-up that will always cause you to make money. As backwards as it sounds, if you are making money every single day and you think your strategy is some kind of trading hack, you better be careful. The market is luring you into a trap where it’s waiting with a sledge hammer. Take loses. Go into holes. That’s part of the business. The key is making sure he holes don’t get too large. A small and well managed hole is totally possible to climb out of. Let’s see if I could climb out of this $160 hole…

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