A trading magazine I read has a monthly article where traders list there biggest trading blunders. While it`s entertaining it also reminds me of what never to do. Here`s Mine; End of June 2005, last day of school for the kids and we are going to leave on a camping trip with the other families in the neighborhood as soon as the kids get home. It was a slow and choppy day trading the YM but I had some gains and was just $150 shy of my goal. I was going to just call it a day near lunch time and go pack the car for the trip but then thought, "why not take one more shot and hit my goal". The market was range bound and you could go long or short and pick up a few ticks as it bounced around. I went long, but at midrange instead of at the low of range, mistake #1. Then YM trades to bottom of the range and I double down, mistake #2. Then YM breaks the range to the down side and I pull my stop to avoid the loss and triple down , mistake #3. Now I`m pissed but figure YM will re-enter the range and get me out so I set my target to exit a B/E and leave the screen to go pack the car, mistake #4 (head in the sand). Well, I came back to the computer 30 minutes later to see how it`s going and my trade is closed out. At first this seems like good news because I didn't have a stop, just a profit target. Then I look at the screen see the biggest 5 minute bar of my life. It was so huge I didn't believe it was real, must be a misprint because YM is back in its range. Then I check my account balance and find that I`m wiped out, no misprint on the 5 min bar. Turns out some goof ball in a Cessna got off course and flew over the White House. News rumors said possible terrorist attack and the YM dives 250 points in minutes. 15 minutes later when the facts came out it fully recovered, but since I was triple down and no stop my margin got liquidated at the bottom. LOL. What I learned? NEVER pull stops. Never average down. Don`t chase $$ goals on a daily basis, just trade what the market offers to the best of my abilities within my system. It has been 2 1/2 yrs since then and I have never pulled a stop or doubled down again, lesson learned the HARD WAY.
how long have you been married? women are indeed a losing financial proposition and a poor transaction from a business perspective. and they depreciate in value as time passes by.
my mistakes is I can not control my emotion well. when I gain, particularly consistent gain a period, I start to ignore my trading signal or subconsious feeling, trade with no brain. when I lose, I start to act too cautiosly and hesitate to pull trigger with right size and miss good opportunity. I am not a mature trader, let my greed, ego & my fear control my decsion sometimes.
Depends on your point of view. Married men tend to have twice the net worth as single men. Married men also live longer; in fact, elderly single men with living sisters live longer that those without. Personally, I would give up everything else before I would give up my wife.
It was a bad joke...nothing like finding a soulmate. I wasn't successful, I thought I was. Hence the divorce. I didn't think people would take my comment seriously, lol.