One Bad Trade

1st_samurai · May 6, 2004

This is the wrong emotion, but I'm PISSED at myself! I make a lot of good trades with very good timing, then suddenly I lose a lot on one bad trade, which is overleveraged, and this seriously kills my other profits.

Anybody have these experiences?

qwiktrade · May 6, 2004

euphoria leads to recklessness.. yes, we all deal with this.. recommend reading "Trading in the Zone" by Douglas for help on dealing with this..

-qwik

40Deuce · May 6, 2004

what are your specific RULES re: defense?
how do you typically lose 'a lot' on that one trade?

mbradley · May 6, 2004

Everyone who trades has had these experiences.

Prince Philip · May 6, 2004

Quote from 1st_samurai:

This is the wrong emotion, but I'm PISSED at myself! I make a lot of good trades with very good timing, then suddenly I lose a lot on one bad trade, which is overleveraged, and this seriously kills my other profits.

Anybody have these experiences?

morning

IndexTrader · May 6, 2004

You probably need more capital in order to allocate less per trade.

Quote from 1st_samurai:

This is the wrong emotion, but I'm PISSED at myself! I make a lot of good trades with very good timing, then suddenly I lose a lot on one bad trade, which is overleveraged, and this seriously kills my other profits.

Anybody have these experiences?

TradeOff · May 7, 2004

Quote from 1st_samurai:

This is the wrong emotion, but I'm PISSED at myself! I make a lot of good trades with very good timing, then suddenly I lose a lot on one bad trade, which is overleveraged, and this seriously kills my other profits.

Anybody have these experiences?

What do you mean you "lost a lot"?

How did you lose?

Martha Stewart · May 7, 2004

I hate it when that happens.

Martha

:mad:

CharlesTrader · May 7, 2004

Quote from 1st_samurai:

This is the wrong emotion, but I'm PISSED at myself! I make a lot of good trades with very good timing, then suddenly I lose a lot on one bad trade, which is overleveraged, and this seriously kills my other profits.

Anybody have these experiences?

See steps 13, 34 and 35 to becoming a successful trader:

http://www.dacharts.com/articles/_38steps.htm

Charles

1st_samurai · May 7, 2004

Quote from TradeOff:

What do you mean you "lost a lot"?

How did you lose?

"a lot" is relative, and I'm sure my $4,000 is nothing compared to your million dollars.