What's the dumbest thing you've done?

Not the dumbest....

In 2004, was successfully trading EUR/USD up and down (long and short) a 3 to 4 cent range (1.2100s to 1.2500s, if I remember correctly) for about 3 months. Was doing well.

I moved.

When I got settled again, clicked on my PC, I noticed EUR/USD was passing 1.2550....

I decided to STOP buying and ONLY short. <-- I know, dumb.

Continued shorting... all the way into the 1.3600s.

Even increasing my trade sizes as the rate ascended.

Came within a whisker of blowing my account out.

Tsunami hit 14 Asian nations, EUR/USD fell nearly 2000-pts into the 1.1600s.

Did I make any money?

Nah, I bailed at the fiirst sign of daylight way back up near 1.3000, even though my average price was once into the 1.3300s pointing down.

(:-B

Worked 'round the clock in the trade for 8-months. Surprisingly, I didn't lose any money, though all the money I made during that time (about 1/2 my account worth) went up in smoke while I fought the upward trend.

I do things differently after that trade. Much differently.

Good thread.

The DrawDown
 
Bought EVLV (Evolve), some tech company in the beg. in '02 around $4.00/shr. (my dad's advice, btw.)

I had $10,000 (AMTD acct under dad's name)in my portfolio (yeah, a piker) and I was about 17. Stock dropped immediately. And thus my tragedy.

I averaged down. :eek:
a lot.

since I had no concept of pos. size, money management, how to trade, or anything, I simply kept averaging down, wondering how it was possible for a company to keep going lower. Wish I would've kept a journal back then...

Well, fast forward about a year, the company went bust. I was out about 50%+ of my original portfolio. My worst mistake ever and my best lesson, period. Glad I didn't go bust. Broke even about a year after and haven't had a losing yr. yet.

P.S. EVLV.Q is Evolve's new ticker :) I still have those shares, too, worth $50 bucks, now!
 
Quote from 88888accountant:

Misery loves company I've always said. So lets all hear the dumbest thing you've ever done while trading. Amateurs and professionals alike do every day. Like the guy a couple months back who pressed the million sell key on INTC by accident. Or the guy who sold more shares than there were on the float last week.

.....
More...

Listening to advice on EliteTrader, instead of realising that ET stands stands for "Entertainment Today"

vital statistics
 
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