So, you were cheering for the market to crash, What do you do now?
- Thread starter smallfil
- Start date
Ride it out, sell off any positions close to 52 week high. This may last a while ...
The market crashed today?
When?
Last I saw the S&P was down 3.1%
Q- You know what -3.1% was called in October 2008?
A- A quiet day in the market
I think it is fair to say a lot of people got hosed. This is just the start.
Individual stocks got hammered a lot more than that!
I could care less I am licking my wounds today and waiting for an opportunity that offers me an appropriate risk adjusted profit. 
Like an idiot I ignored that increasing 10 year yield, I smelled smoke but got complacent. Lost 3K and and of course opportunity cost, I was thinking of entering a position a few days ago that would have netted a nice super chunk of money today but got a bit too comfortable and left a profitable position on the table instead of closing for profit and entering the new trade that my gut was telling me to enter when that 10 year note was signaling distress ahead.
Lessons learned, notebook updated.
Like an idiot I ignored that increasing 10 year yield, I smelled smoke but got complacent. Lost 3K and and of course opportunity cost, I was thinking of entering a position a few days ago that would have netted a nice super chunk of money today but got a bit too comfortable and left a profitable position on the table instead of closing for profit and entering the new trade that my gut was telling me to enter when that 10 year note was signaling distress ahead.
Lessons learned, notebook updated.
The most important lesson of today, have some risk management in your trading. It takes only one or more days like today to destroy your account for good! Those who held their own, chances are good, use some form of risk management. If you made a lot of monies, you are one of the select few. Good job. Those who lost a lot of monies, time to review your trading system and tweak it.
WTF? We were only down 3%!!!!!
“One or two more days like today to destroy your account for good”?
9% isn’t even a correction, much less a bear market, or a crash.
This shit is what happens when the market goes up for 9+ years. People have no idea what pain is.
It’s coming, and it will make today feel like a picnic.
Pray tell, what is coming?