I learned a VERY important lesson

cashmoney69 · Oct 20, 2006

Well this morning I lost over 710.00 in one second, which is my single biggest loss to date.

I feel numb...for lack of a better word. I never lost so much money so fast lol.

BUT I learned a lesson, and that is, if there is no volume to support a huge gap...for god sake, dont buy!. I had this feeling something wasn't right when i looked at the daily chart for FLSH...Even on the day of the gap, there was no volume, yet I bought anyway ignoring what the chart was telling me.

Now at the time of this writing, FLSH is down 9.35 a share.

Live and learn.

cm69

nkhoi · Oct 20, 2006

thnx for sharing and of course the trick is still having money left for the next lesson.

Steelhead · Oct 20, 2006

itl be well worth it over time----careful buying those falling knives
no need to be first in line

JimmyJam · Oct 20, 2006

Here Cash, post a chart so people will know what you are talking about.

One question.

Where was your protective stop?

illiquid · Oct 20, 2006

Umm, what time did you buy it this morning?

Wayne Gibbous · Oct 20, 2006

Hang in there. It's all a matter of scale.

Stick with it a while and losing only $710 will seem like a VERY good trade!

Good luck.

TorontoTrader2 · Oct 20, 2006

Quote from cashmoney69:

Well this morning I lost over 710.00 in one second, which is my single biggest loss to date.

I feel numb...for lack of a better word. I never lost so much money so fast lol.

BUT I learned a lesson, and that is, if there is no volume to support a huge gap...for god sake, dont buy!. I had this feeling something wasn't right when i looked at the daily chart for FLSH...Even on the day of the gap, there was no volume, yet I bought anyway ignoring what the chart was telling me.

Now at the time of this writing, FLSH is down 9.35 a share.

Live and learn.

cm69

Interesting, it has the same chart as SNDK today.

Wayne Gibbous · Oct 20, 2006

yowza. pretty good dumper...

<img src="http://ichart.finance.yahoo.com/w?s=FLSH"/>

Optionspoet · Oct 20, 2006

Quote from cashmoney69:

BUT I learned a lesson, and that is, if there is no volume to support a huge gap...for god sake, dont buy!. I had this feeling something wasn't right when i looked at the daily chart for FLSH...Even on the day of the gap, there was no volume, yet I bought anyway ignoring what the chart was telling me.

Now at the time of this writing, FLSH is down 9.35 a share.

Live and learn.

cm69

Volume seems above average. Are you referring to pre-market volume??

Free Thinker · Oct 20, 2006

Quote from cashmoney69:

Well this morning I lost over 710.00 in one second, which is my single biggest loss to date.

I feel numb...for lack of a better word. I never lost so much money so fast lol.

BUT I learned a lesson, and that is, if there is no volume to support a huge gap...for god sake, dont buy!. I had this feeling something wasn't right when i looked at the daily chart for FLSH...Even on the day of the gap, there was no volume, yet I bought anyway ignoring what the chart was telling me.

Now at the time of this writing, FLSH is down 9.35 a share.

Live and learn.

cm69

if you trade a while and you can say that your worst loss was 710 you will be very lucky. that is not a lot of money.

I learned a VERY important lesson

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