[awhoa99]

I pay by share, as I am trading firm capital until I am able to make some profits. As far as entry goes, I have charts pulled up. I look at 5 minute charts to see if the stock is going in a certain direction, using MA and MACD to see of any convergence. Then, if there is convergence, I switch to a 1 minute chart using MA and MACD and then I look at the level II and the tape to pick a good entry point. I trade off earnings, when there are earnings, as well as certain commodity stocks, such as gold, steel, oil, coal, oil rigs; NYSE only. I usually do 100 to 200 share lots, depending on how it looks. I feel as though sometimes I am chasing profits, which could be from my use of the MACD and stochastics. Once in a trade, I set a stop of about 10-15 cents, as if this usually gets hit, the stock doesnt retreat back. Please give any suggestions. I read articles all the time, and it is hard to decipher which articles are good and which are not, as they usually conflict with one another, such as the use of such indicators as the MACD. Today, I traded and lost 200 within the first 40 minutes which is very uncharacteristic of me. I was rather upset, and I got stopped out as if any new trader loses 200 in a day, they are stopped for the rest of the day. After this day, i wrote down a few rules to live by, which I hope help. I need to tighten up my trading and begin to have a better way of judging entry points. Please give me lots of suggestions. I have read the other posts numerous times, every bit helps.

Thanks