How do you get over massive losses?

Quote from Rearden Metal:

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!
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Why do you have to ruin it for the rest of us

may Muhammad bless you, but may he first ask allah, so as to not get into trouble
 
this is what separates men from boys....I know of several successful people who have lost fortunes many times over to still come out successful ( eye of the tiger mentality )..it is not in the inflow or outflow of money but in the way they handle these huge swings and outright blows to the pshyce; that makes them who they are..no one said it would be easy...take a break , suck it up and understand that to get from here to there, there might be a chance to lose it all, from one bad trade to just grinding your way to zero. ( any venture any risk taken can have this outcome )...if you can handle that , then when it actually happens it should not affect you this much.....

and remember MASSIVE LOSS has nothing to do with money.....

edit: from another thread....made, lost, made,lost and then made again....who knows he might be a welfare recepient soon...

http://online.wsj.com/article/SB120036270913390155.html
 
Quote from AlmostGotIt:

Post your risk management rules, your trading plan, and a sheet of your tracking statistics into this thread... just do it.
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come on, somebody back me up on this one... you all know its the first step to actually helping this guy out if he is serious.
 
Quote from interdigital:

I have lost half of my life savings thru day trading. Now that I've realized it isn't coming back, it stings so bad, and probably will for a very long time.

How do people like me deal with the pain?

And what should I do with my remaining money? With a money market, it might take the rest of my life to get back what I lost. Mutual funds? Buy and hold solid individual stocks like GOOG (should have done that a couple days ago) or AAPL? I don't know what to do.
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And you come here looking for answers?

Stop thinking about recouping your losses (you NEVER will) and ask your family doctor to recommend a psychiatrist now, not later. You are showing all the signs of a desperate person and in this game, you will self destruct. I'm serious.
 
Quote from AlmostGotIt:

come on, somebody back me up on this one... you all know its the first step to actually helping this guy out if he is serious.
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MY GOSH, isn't is so OBVIOUS ? :
TRADE SIM, TRADE SIM, TRADE SIM...
seriously...
until you are profitable.
TREAT YOUR SIM ACCOUNT AS IF IT WERE YOUR OWN MONEY.

THIS IS SO TRUE WITH DAY TRADING.
Doing this without a proven plan is hopeless.
Get your plan together and test it in SIM mode.
 
Another useful tip could be to find a blog where a good trader is posting their trades and do what they do. Copy them without fail and share their profits/losses. You need to obviously check a few dozen of their posts first to make sure they're legitimate and not just lucky. You'll see the mind-set of an experienced trader/investor in action. Another thing to do would be read some books written by successful traders, preferably when you're far, far away from your computer. You can afford to chill out in Vietnam, Laos, Thailand or Cambodia for a month and think things over. Believe me, a different perspective never hurts. There's a few places in Vietnam and Cambodia I could recommend.

The market will still be there when you come back.
 
Quote from interdigital:

I have lost half of my life savings thru day trading. Now that I've realized it isn't coming back, it stings so bad, and probably will for a very long time.

How do people like me deal with the pain?

And what should I do with my remaining money?
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Roulette, one spin - bet on black.
 
Quote from amanda33:

Another useful tip could be to find a blog where a good trader is posting their trades and do what they do. Copy them without fail and share their profits/losses. You need to obviously check a few dozen of their posts first to make sure they're legitimate and not just lucky. You'll see the mind-set of an experienced trader/investor in action. .
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You can't be serious. Is that going to teach him how to trade? If he is going to do that he might as well just throw everything into a mutual fund. At least he would be hiring a professional manager instead of some turkey off the internet.
 
Feel for you man! Crashed and burned my first attempt.
Once I realized what "MY" problem was, ( not allowing myself to take a loss, violating stops) my trading turned around for me.
All I can tell you is it's not your trading strategy (unless your flipping a coin or trading off moon cycles or some other off the wall crap) it's most probably your risk management discipline. We all have to fight our self sabatoging tendencies. As others have said, forget it move on and decided if you are going to continue in this tuff tuff business. If you do just remember "It's not about the in, ITS ABOUT THE OUT!!"

Good Luck!!
 
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