Markets go crazy today and every one of my stocks get killed(except one) My biggest position JSDA gets hammered. Down 3k alone on that. I should never have bought that again the other day. Anyone else having a bad day. I think I'm gonna drink myself in a coma.
Stay in there. I'm doing well except f... RSH which should be tanking is moving up on this market...albeit not that much. Cheers and find good names and stick to them and you'll make money. I'm net long at this point and it's working out. cheers.
Yup I am. I was up $1100 trading 3 contracts of the YM yesterday. I was short at 13640 with a stop at 13650. I thought they were going to pop it before a dump at the close so I removed my stop loss planning to cover about 5 minutes after the cash close. From 3 minutes before the close to 15 minutes after I had lost about 40 points!??! So of course I started averaging!! I knew it was stupid I knew it was armatureish and ignorant but I didn't care I was pissed thought the pop was bs. Anyways to make a long story short I had been shorting since after the close yesterday to this morning and afternoon. Finally covered for a 17K loss. Yup, turned trying to prevent a $150 loss into a realizing a 17K loss. I knew I deserved to be punished for my rookie move but this was excessive. Oh yeah... did I mention it's my birthday today? Yay!!
"So of course I started averaging!! I knew it was stupid I knew it was armatureish and ignorant but I didn't care I was pissed thought the pop was bs. Anyways to make a long story short I had been shorting since after the close yesterday to this morning and afternoon" Didn't you do same thing last week into Monday? Didn't learn a lesson from that? Perhaps not since you got away with it that time. Sorry about your losses flipflop
Exactly right I got away with it last time so I did it again!! I knew I deserved punishment. I'm ok with that. It was a bit of bad luck today was so strong. The second I abandon my plan I cease to become a trader. I wanted to be long all day today but couldn't do it. I felt I HAD to make back my money from the short side since thats how I got stuck?!?! Sad psychology but I got what I deserved. Once there is a crack in discipline its like a crack in the damn... the damn burst for me today. I know this is a small price to play if use this experience to cement my discipline once and for all. My trading calls are quite good. I bat at about 60-70% with a great risk reward ratio. I just have to forget about the loss and refocus. Not try to get it all back quickly!!
Ummmm...this is not an investing website. When will some of these guys learn that most of us here are nothing more then daytraders. THIS IS NOT AN INVESTING WEBSITE. Pumpanddumper is like me, just get in for the pump and out real quick to look for the next one. If we wanted to invest, we would be on a stock investing website. Stock investors are outcasts here and they are the crap of this website that make it hell for the real traders.
You need to STOP Trading immediately !! And totally reevaluate your situation. From what you have said above and what I have gathered, trading is NOT for you . I am a rookie too and have been trading YM for about 5 months now. I could not even to imagine demonstrating such reckless emotion as you have, even in my first week of trading. Something of this magnitude and this catastrophic should not be looked at as some kind of learning experience, or going thru the school of hard knocks etc..etc..etc blah blah blah . Thats BS my friend !! Lets Face it and lets be realistic , what you did is just flatly INEXCUSABLE !!! Trading is not for everyone and there is a certain amount of emotional IQ that one must already possess even to consider getting in this game. You seem to not have it. I know that sounds cold but I am just being honest. And bottom line, this debacle should be taken as a clear signal to you that there are other endeavors that would be more suitable for you than trading !! End of story !! IMHO