Q&A by Don Bright
I am a new proprietary trader about seven months in. I have started moving up the learning curve, but my biggest problem is discipline. I have great entries and I feel I have developed an intuition for when something is going to move; my problem is holding on to money and sitting on my losses. For example, today I had three great trades. My problem began when I traded a stock for the fourth time and was up another 0.25 when it started to rally against me. I could have easily gotten
out with a profit but I decided to sit a little, and ended up giving back $400.
Next I saw a short seller (150,000) stepping down. I was about to bid out when he spread the offer up to some ridiculous price, and thatís when I froze. I ended up losing a full point on 1,000 shares.