So I'm new to xtrader, didn't really know what I was doing so I logged into xtrader and traded. I made $215 from 2 consecutive trades. I could've gotten out of the market at that point as I had achieved my daily goal, but no I had to gamble some more. I went short near the end of the day on thursday, and got caught up in the short squeeze panic buying. I turned a $215 profit into a $500 loss. Then I did something even stupider, after losing $500 went short again and lost another $250 roughly. I got out of that short position around 4am for a 1k loss total. I was trading in simulator mode the whole time so I paid 1k tuition without losing a dime. I was pleasantly surprised by my brokerage statements not reflecting and trades the next day! It doesn't get any better than that.
Are you saying that you were trading the simulator and didn't realize it? Or did you know you were trading the sim? Geoff
Nice dude. I wish when I shorted BIDU at $250.00 a few days before the huge gap up it was on simulator.
chain reaction, human nature. the second short is even stupider, why? chain reaction or human nature defense reaction. you lost your profit and some principal in the first round, so you even do not think you are wrong, the only thing in your mind subconciously is " I want my money back", and you saw it jumped more, the chance is better, you shorted it again, oops, the market keeps its frezny buy, the same as averaging down! occasionally I did that too. even the greatest trader like martin schwatz did that too, in his book, he lost $60M in one day because he refuses to admit he is wrong(in reality he is defending his money, request the market his money back!)
It does no good to coddle people when they've acted like morons. It's better for them to treat them this way then try and rationalize something when the only true response they SHOULD get is "you're an idiot, learn from it".