I learned a VERY important lesson

Discussion in 'Trading' started by cashmoney69, Oct 20, 2006.

  1. Well this morning I lost over 710.00 in one second, which is my single biggest loss to date.

    I feel numb...for lack of a better word. I never lost so much money so fast lol.

    BUT I learned a lesson, and that is, if there is no volume to support a huge gap...for god sake, dont buy!. I had this feeling something wasn't right when i looked at the daily chart for FLSH...Even on the day of the gap, there was no volume, yet I bought anyway ignoring what the chart was telling me.

    Now at the time of this writing, FLSH is down 9.35 a share.

    Live and learn.

    cm69
     
  2. nkhoi

    nkhoi Moderator

    thnx for sharing and of course the trick is still having money left for the next lesson. :)
     
  3. itl be well worth it over time----careful buying those falling knives
    no need to be first in line
     
  4. Here Cash, post a chart so people will know what you are talking about.

    One question.

    Where was your protective stop?
     
  5. Umm, what time did you buy it this morning?
     
  6. Hang in there. It's all a matter of scale.

    Stick with it a while and losing only $710 will seem like a VERY good trade! :D

    Good luck. :cool:
     

  7. Interesting, it has the same chart as SNDK today.
     
  8. yowza. pretty good dumper...


    <img src="http://ichart.finance.yahoo.com/w?s=FLSH"/>
     
  9. Volume seems above average. Are you referring to pre-market volume??
     
  10. if you trade a while and you can say that your worst loss was 710 you will be very lucky. that is not a lot of money.
     
    #10     Oct 20, 2006