How do you get over massive losses?
- Thread starter interdigital
- Start date
The thread starter of this thread and the one you referenced is the same.
when u realized it wasn't coming back,how did u come to that conclusion? What were u trading,what was your premise for putting on a trade,taking it off? When it wasn't working did you keep repeating the same mistakes?
Did your thinking make u money,if not ,why. Perhaps you need to analyze your trading and maybe ask yourself the why and why nots and write them down.There are ways to make money trading.There are a lot of mental pitfalls too,stress when your trade goes against you,excitement when it goes your way,these 2 things can take you from a sensible trader to a self kicking person or a an inflated egoist. Ask yourself how you handled that before and the changes needed to correct it,now after u have fixed these problems.get back in there and make some money.If you have a flat,you pull over ,change the tire,close the trunk and go on your way,fix your trading and you will get your money back,if you haven't made any changes don't trade any more.
Did your thinking make u money,if not ,why. Perhaps you need to analyze your trading and maybe ask yourself the why and why nots and write them down.There are ways to make money trading.There are a lot of mental pitfalls too,stress when your trade goes against you,excitement when it goes your way,these 2 things can take you from a sensible trader to a self kicking person or a an inflated egoist. Ask yourself how you handled that before and the changes needed to correct it,now after u have fixed these problems.get back in there and make some money.If you have a flat,you pull over ,change the tire,close the trunk and go on your way,fix your trading and you will get your money back,if you haven't made any changes don't trade any more.
I know. I structured the opening of my passage that way for emphasis. He can't be successful if he doesn't change. He can't change if he doesn't see the need to change. Hopefully this is the juncture that turns out to be a positive inflection point for him.
The thing you need to do is the hardest thing of all. The only way for you to come back is to do something that you almost surely will not have the mental strength to do. You already know what it is, but you don't want to admit it to yourself, so you're here.
What you have to do is drastically reduce your size, start trading 100 lots and try to run a $7500 account up to $10,000. You must have the discipline to resist the temptation to raise your lot size to 200 shares. I read your previous thread and I know you were trading way, way too big for your experience level.
You have a gambler's mindset so you'll almost surely be unable to do this. My guess is that you'll lose half again what you've lost so far, because you'll try again at your present size, but this time you'll be trying to get back what you've lost, which is the #1 best recipe for disaster.
Two words:
Risk management.
If you ever 'blow up' in such a momentous way that you may not be able to recover, you failed the most critical lesson of all.
Risk management.
If you ever 'blow up' in such a momentous way that you may not be able to recover, you failed the most critical lesson of all.
Any money you leave in your trading account is as good as gone.
Figure out how much more you want to lose, and keep that in your trading account. Take the rest and put it in something <b>highly illiquid</b>, like buying a local foreclosed property at a deep discount. Then you can try and make back the money you lost by doing something you're good at. (Trading/actively managed investing in stocks isn't it.)
With my plan you still get to enjoy plenty of 'action' and false hope, while still holding on to most of your remaining funds.
Figure out how much more you want to lose, and keep that in your trading account. Take the rest and put it in something <b>highly illiquid</b>, like buying a local foreclosed property at a deep discount. Then you can try and make back the money you lost by doing something you're good at. (Trading/actively managed investing in stocks isn't it.)
With my plan you still get to enjoy plenty of 'action' and false hope, while still holding on to most of your remaining funds.
Once your trading account is empty and you're still feeling an intense craving for that nice warm blanket of false hope, try religion: 100% free, and it's been mankind's #1 favorite source of false hope for over 10,000 years! If religion doesn't work on you for whatever reason, there's always powerball.
No need to thank me- I'm here to help.
Sharing is caring.
No need to thank me- I'm here to help.
Sharing is caring.