Susana , I'm not exactly newcomer. My problem always was greed , and when things go bad I lose my cool , and it goes mistake after mistake , and plus this game is rigged , and have too many participants.
The sick irony of trading is that everyone who has made a post like this already knows the answer to the questions they ask. You know what needs to be done. No one here knows what you need to do and how you need to do it better than you. It's like losing weight. Losing weight is the easiet thing in the world for 90% of overweight people (probably 1 in 10 have medical conditions/pharmacological factors which make it very hard). They just don't have the willpower to do it. You have the gambler's mentality which seems to me, after a few years here, to be the toughest problem to overcome, as it's related to compulsive behavioural tendencies. Your belief that your losses are related to 'the game being rigged' is also another huge problem for you. 'The game being rigged' has absolutely nothing to do with your losses. You'll never make a cent until you admit that to yourself. I mean that literally. You cannot make money with that mindset.
With all due respect, and I'm not trying to patronize you with this comment, the above is not far from what newcomer's do or say. Even if the flaw is in your mindset, it's still a very big flaw. Can't lose your cool, this is your capital we talking about. Susana
the game is not rigged, it's a pretty even playing field. You just got smacked by some news. Everyone goes through what you went through. You can't make it without blowing up at least once.
You just described your problem in a nutshell. The game is not rigged (as several posters on here have already stated). You either don't know what you are doing, or far more likely as I would surmise from your posts, you can't control your emotions (fear and greed) so just when things are looking good you get hosed. We are all human beings, and that is how it is for all of us. Good luck with your trading now that you know who your true enemy is in this game ... the guy looking back at you from the mirror. Best
- It makes me laugh so hard when ppl that lose almost or all their money trading throw the "this thing is rigged" excuse.... - Then they admit they lose their cool(become emotional) with that kind of mentality they deserve to lose EVERYTHING
I tell you why it's rigged , DRYS goes down to 3 (say for a reason) then it starts bouncing back , oversold stock starts bouncing back(company with a book value 30 dollars) , after trading around13 15 , a bad news after close , in few days more bad news , and shorts bring it down to 4 , and not only shorts lot of new longs get scared and sell it.
Joemani , I don't know you day trade or not , but I tell you position trading is much different , gap downs happen every day. My mistake was I entered crowded trade , which is the worst thing for a retail guy. These type of stocks always get manipulated .