This is precisely the reason why you never average down or up on a losing trade. Losing trades happen for a reason. Always always better to close it, leave it, cry, pound your fist, throw your computer screen, mouse, keyboard whatever you have across the room, do whatever you need to get over it and move on. So much less headache and heartaches this way. Sorry about your loss @Max E. Hope you make back the loss in no time! You can do it!!
On last Friday, spy was closing red and I wanted to go short. But based on my stats, I was wrong most of the time when I had a hunch. So I did the opposite and bought a shit ton of SPXL. Let see what Monday will bring me...
It brought nothing. Monday was a flat day but Tuesday was an up-day. Hope you held onto your position until Tuesday and booked some nice profit.
Just when you think everything is going smoothly, you feel invincible, then BOOM!!! All you money gone with one mistake. Its crazy
Over Confidence and Under Confidence both kill you, hard to stay inbetween. Like everyone here, we've all been there and we all feel your pain / sick at the thought of giving back loads of money So say we all!!