One sacrifice you must make when you are short term trader is you must have access to trade everyday.
So for instance if a friend asks can you give me a ride to the airport on a trading day. Unfortunately you have to say no.
That ride could cost you $1,000's in missed profits.
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This is true. Every day I take the day off, it just so happens to be the best trading day of the century and every stock goes up 100%.
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Happened to me.. And not even a ride. A fone call while I was about to enter a short position. Answered the call and openend the position while talking. And yes you guessed it right, went long instead of short. Lost hundreds.
How about vacations? Do you leave some positions open and check them periodically or just close all positions before leaving?
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That’s Friends and family don’t understand when you’re in a trade.
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Selling cars & trying to day trade gets tough sometimes. A set up will start forming and I’ll wait for confirmation. And at that time my phone starts going nuts with calls or I gotta run numbers and I miss out on my set up.. happens enough times to where it gets frustrating
