I confess, I blew out

Discussion in 'Trading' started by lundy, Nov 19, 2002.

  1. No shame in blowing out..I did so myself in May 2002..Now I'm back in the game ...viewing it like getting married again..the triumph of hope over experience..and NOT making the same mistakes over again...Blowing out serves the purpose of waking you UP; and making you a better trader IMO.... Good luck to you if you choose to return to the game. (Cause that's all it is)...just remember be FLEXIBLE...I read your "bottom" post and that was not "flexible"!...All the best to you!
     
    #31     Nov 20, 2002
  2. Rigel

    Rigel

    Not to be contrary but I look at it the other way around, as the triumph of experience over hope. It was hope(misplaced) that caused the mess and experience that will keep it from happening again. :)
     
    #32     Nov 20, 2002
  3. But you can only know THAT after the fact!
     
    #33     Nov 20, 2002
  4. Rigel

    Rigel

    Or before the fact, from experience.
    "Fool me once, shame on you.
    Fool me twice, shame on me."
     
    #34     Nov 20, 2002
  5. chisel

    chisel

    Nothing to be ashamed about...shame only keeps you from growing. Look everyone in the eye and tell them the truth. That's a good start. Rebuilding your character is not a great feeling at first, but you'll be glad you did.

    I blew out in 1993. It was a tough, life-shattering event, but I was fortunate to have understanding backers and they gave me another chance (after they got over their anger at me). The good side to it was that it woke me up and now I am much more aware.

    Good luck.
     
    #35     Nov 20, 2002
  6. Rigel

    Rigel

    That's good advice for sure.
    Don't wallow in it. That's the difference between being contrite and giving up. :)
     
    #36     Nov 20, 2002
  7. nkhoi

    nkhoi Moderator

    could Lundy return signal market bottom, today sure look like it.
     
    #37     Nov 20, 2002
  8. You should still be long the market from when you said to get in and you are saying you blew out???

    Well Lundy, if you were a true investor, then your call would not be all that far off the mark. We are right back up to where you were calling for the bottom! or at least fairly close.

    But, I think you were trading options which are time wasting and that is the mistake you made.

    You need to take a longer time frame approach and not have to worry if you are early or late by 10%. And don't go 100% like you probably did on the first call. In a year you will look back and say to yourself, "I was right!".

    Good luck!!
     
    #38     Nov 20, 2002
  9. It takes guts to come forward on a break like that.

    I have had it happen in other areas. When I saw your post I thought "but for the grace of... ."

    Will look forward to hearing how you make out.

    Geo.
     
    #39     Nov 20, 2002
  10. Well where the Hell is it?????????
     
    #40     Nov 28, 2002