day, if you weren't such a looney-tune and I could take you serious. I'd listen to you and be the richest guy in America.
Seems like those positions were too highly correlated or too highly levered. Would work that out too.
There is lot of good stuff I poured, so balance your opinions. Looney tunes or not you definitely get some entertainment here. This place was so dull and boring. I am a serious trader, highly disciplined and very tenacious.
One of the way to lose money fast is revenge, wanting to get your lost money back fast. Protect your capital is your 1st priority?
Thanks for all the advice everybody. I really appreciate the fact that it was done in a constructive manner. Since almost everyone recommended against taking greater risk and going all into one stock at a time, I will heed those words and resist from doing so. I believe my biggest mistake was buying and holding overnight in this type of market. (I've personally never traded in an environment like this so thats probably why I'm getting my ass kicked, but I guess I'll look at it as a learning experience and try to get as much out of it as possible.) Some people mentioned to step away and take some time to think about what I am doing wrong and to re evaluate my strategies. I don't know if i can step away fully but I think I'm going to decrease my positions and play very small while researching alternative trading methods. If anyone has any recommendations on really really great books on trend trading, technical trading, swing trading, or whatever you believe is best for the market, please post it here or PM me. I need to find something else that suits me. I dont think I can fully walk away from the market because I see plenty of opportunites to make tons of money, only problem is that I see it too late. Anyways, my plan is to go all cash tomorrow (hopefully at the best time possible) and start investing small amounts and into one stock at a time until I decide what strategy I will use from now on. I want to thank everyone again, i know i'm not "elite" (not even close) but hopefully some of the knowledge of the experienced traders can rub off on me.
Stop trading for a few days or a week and do something else to get your mind off markets. Piling all into 1 stock is always the killer. Trade way smaller -reduce your size dramatically .Consider your trading at this size not so much as to make fat profits but just to gain confidence without taking huge perilous risk..
You're probably right JORGE. Some stupid decisions were made, no doubt about that. I' do have to learn the difference, problem is I don't know how to go about doing that. I've lost confidence but all hope is not lost, I'm going to keep my head up.
I seem to have more of a problem picking which stocks to short. for some reason I find it easier to pick stocks to go long on. I dont really know what is the cause of this.
i know exactly how you feel i have had a bad week. my strategy since i cant trade for the next 5 day is to go into my tos paper trade account and work on my trade timing. since ive been in this situation before i know to take the loss and learn from it. there is plenty of money in the market and a bad streak wont break your career. im young 19 and just started trading not long ago. everytime i have lost money ive learned and always came back stronger. just like in the previous post the key is to stay in the game.