BIG loses add to more loses

Discussion in 'Trading' started by NY_HOOD, Jul 24, 2007.

  1. it never fails. friday i took a large hit and made some of it back yesterday. today i gambled heavily with the hopes of recouping my loss from Friday. i am loaded up with CPO and some ROH which i just sold for a small profit. i really need CPO to get to 47. just goes to show you cannot let losses get out of hand because its human nature to try and get it back as soon as possible and invariably resorts to gambling.
     
  2. ?..............eat like a bird, defecate like an elephant. It's a bad way to operate.
     
  3. Don't try to hit a grand slam with the bases empty...
     
  4. yep; well said. as traders we sometimes lose focus and the minute we do that,we get hit hard.
     
  5. well,i just sold 1500 shares of CPO at 46.18 so i am very very happy. last time i ever do that.