M Jagadish
If you are a day trader and have a bad start (assuming you are not an opening gap specialist,) what do you do when you have a bad start? Suppose you keep $2000 as your worst case loss for the day and for some reason you violated something and ended up -$1800 in quick time, what should you do?
--> Take a break, have some coffee.
--> Breathe deep and analyze the real reason why this happened. Do not justify anything.
--> Promise yourself you will not violate anything for the day and hopefully from this point on.
--> Make sure you keep in mind that you have just $ 200 to go. Do NOT take another $2000 risk.
--> The most important thing. Cut down the trading size drastically. If you were trading 500 shares, try 100 for the rest of the day.
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