How do you stomach huge loss day

What % of your account was it? 60m at 1%..who cares? 60m @ 50% you`re an idiot.

Move on. Dont revenge trade. And go for base hits.

 

New to trading but I don't think there really is a mechanical procedure in dealing with losses.

Accept it and move on.

 

Try to make it all back tomorrow. That's the best option.

 

it is OK if you only risked %5 of your account. Otherwise. Stop and think what did wrong.

 

I have read on ET people lose this kind of money daytrading..names that I mentioned

BTW .. I was not daytrading

 

"Markets are never wrong; opinions are."

—Jesse Livermore

 

Oh...Uh huh.....

Think maybe your orginal post was maybe just a wee bit misleading?

But, now that we know you didn't lose $60,000 day trading, the question becomes, why did you not use a stop loss earlier? I don't care how rich or how poor you are; unless I'm talking to Michael Jordan, Ozzy, or Paul McCartney; in my opinion you don't have the discipline to trade. I doubt there's more than three people on ET who can afford a $60,000 loss.

 

that is wrong.

 

On good days, you drink Hennessy by yourself. On bad days, you drink NightTrain Express with the homeless and tweakers.

 

how do we know that? it could have been an overnight earnings play.