I blew out my account
- Thread starter snowhite
- Start date
too bad
should have bought google instead, without margin
should have bought google instead, without margin
The market has gone down 40%+.
How can you not make money when the market goes down that much?
This has been a FANTASTIC market. A gift from the trading gods.
The Gods do not favor you.
How can you not make money when the market goes down that much?
This has been a FANTASTIC market. A gift from the trading gods.
The Gods do not favor you.
If you are a retail trader, this is the typical attitude. I can flatly tell you that of the professionals that I know, every single one has had to reload his account at one time or another, some several times [that is the equivalent of blowing out. The difference is that it does not blow their net worth out, just their account.]
Trading is not a losing game in the short run. Trading forever, if you are not a monk when it comes to risk, is guaranteed to blow you out. Risk is not just stop loss, it is also controlling size - knowing when to get real small, and real big.
The key to trading is to turn something that is not gaussian normal [markets], into positions with gaussian profiles, for edge. Then watch the wings [tails.] Alternatively, know when to bet the wings. You want to be a Jekyll and Hyde between Neiderhoffer most of the time, and know when to turn into Taleb, all the while understanding Soros.
The stock is down 22% this month how does that exactly help him?
Trading is a losing game for those who don't control risk, have no contingency plan, and don't understand their own psychological weaknesses.
Those who are humble and take total responsibility for their results and learn from their mistakes are consistently making money. Interesting
22% loss versus 100%