The most expensive lesson you have learned in this business...

Going out to have a cigarette while in a trade going with the direction of a trend and thinking "it's pretty safe to have a quick break now".

Well, I smoke in the office now after that day.
 
Quite awhile ago, a company IDID. I can't remember exactly the product they supposedly developed, but something security related. No product, total fraud, and I bought a mother load in the hype around $1. I got .10 cents somehow as it piled toward 0 when the fraud was exposed. Hype trading ain't for me!
 
Quote from romik:

Well, I smoke in the office now after that day.
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better yet, give up the cig's!


Quote from olero:

Averaging into a loosing position and thinking that I could trade my way out.
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I learned this one in multiples of $10,000's
 
Still no single lesson so painful as to be remembered as "the most expensive".

Several small not-so-expensive-but-annoying lessons though, such as sloppy typing on the keyboard while entering orders, bugs in my own software which caused minor losses etc.

GS
 
Quote from NZDSPeCIALISt:

tHE MOST EXPENSIVE LESSON IS THE ONE I HAVE YET TO LEARN
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Not for me. I will never see another tuition bill like the one described below even if I tried with all my might. On the first day of getting 10:1 margin in Jan of 2001, I tried some lunchtime scalping. I would short about $2m shares of stock and then buy it back. Making a couple hundred bucks every few minutes. On my last short scalp before a lunchbreak, the Fed announces its first "surprise" intrameeting .50 rate cut. Of course the system freezes up for 15 minutes, and when I get out my account is down 50%. It is virtually impossible to lose that much money so quickly anymore.
 
my lord i remember that. i was long 30 qqq's and tried to sell them aroun d 12 pm with no luck so i cancelled. the fed came out at 2 pm with a suprise cut and it was the fastest rally in history. we ran 50 futures pts in 5 minutes. i sold my qqq's for a huge gain. you lsot 1 million? how are you still here?
 
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