This is the right group to be in. There are many different trading styles but you need to figure out what works for you. Keep your plan as simple as possible. Don't be scarred to do paper trades with no money spent. If I had been part of a group like this when I started I am sure I would be a lot richer. so my wisdom for you would be the following:
The trend is your friend, if you are not sure of the trend sit it out.
If you miss an entry into the market and you see the market shoot in a direction, unless another entry point presents sit the trade out, DON'T jump in late it will just cost you money.
Dont try to emulate the success of others, someone on the group might make 500 points and you only made 100, your 100 points is more than you had before.
Books on traders teach you one thing and one thing only, the guy how wrote it just got you to give him money, a very good trade for the writer.
A successful traders get to the point they just know what the market is doing, he will be drawing information from 100 different places that will help make the play for him.
There is no one system that works.
You don't have to trade every day, if the day feels wrong sit it out.
Day trading is hard to get right,
What you have got yourself into is going to cause you great pain, school fees are very expensive , if you get it right you will earn a living, if you spend another 5 years after that you may earn a good living.
I suggest you go and draw out half of the capital you have, put it under the bed, you will need it on that day your account goes from good to gone, it will happen, start preparing yourself for it now.
Remember that in order to make yourself a small fortune on the stock market you need to start with a large one.
Good luck
G
