My dear friend, you learn from mistakes. Much encouragement and and luck for the next
I Got this one wrong guys.....
- Thread starter Max E.
- Start date
This is a hard ass market. There will be life changing affects on traders and investors. Wealth will be created and destroyed by these markets. Like the Great Depression, family wealth will change. So many things will determine who survives and who dies... and those that just get by.
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Mick.... really?
The guy posts an honest thread, and you're gonna laugh if he did in fact take a hit?
Come on bro.... you're better than that.
... just sayin.
What had me laughing was Max E starts a new thread after getting badly burnt... 'I got this one wrong guys' then in this same thread makes the mistake again...
Then shortly after......
What makes it double funny is the market just keeps on going up.
The cold hard reality: there's no sympathy in trading.
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That was a hard pill to swallow. Having looked at the trade I assume you were trading that as continuation on a pull back. For me that pull back is just too large and contains too many up bars in it. The good pull backs are short and sweet plus you really should let it come back to at least 1/2 way of the up given it was so large. The entry was very aggressive. As others have said, you need to get ready to put a hedge in place just in case it all goes the wrong way as it did. At least that gives you some breathing room to try and unwind the position. Double ups can only be used with extreme caution plus you should wait for another entry signal before you think about doing it. Many do it out of fear/anger which will get you into all sorts of problems. Just my 2 cents.
Unfortunately the empathy is missing for a poster who lives most of their life posting in the politics forum, starts a very short thread about his trade in the politics section and loses his shirt. Then starts a new thread in Trading forum which appears to me to be attention seeking, possibly disguised crowd funding plea.
Then goes and attempts another stupid trade in the same "Look at me I'm an idiot" thread.
Yup, it is what it is, this is a competitive game, if you do stupid trades when you should know better, not much sympathy or empathy coming from me.
Edit: When someone asks OP for follow up - Silence!
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