Anyone care to share stories on when they lost big money in the stock market and how they dealt with it? How much did you lose ? Did you hold on or did you cut losses and accept the loss at some point ? Do you regret cutting losses ? Would love to hear stories about anyone who lost money in the dot com crash as well.
I know a guy who invested $3b on BX when it IPOed at $30, the stock is now trading in the teens. That's a loss of $1.5b.
When I first started trading options (like my 3rd or 4th option trade) I bought some calls on AMAT right before market close the day before earnings. Bought them at about $.45 per contract. Earnings were fine but they lowered guidance so the stock took a nose dive in the after hours and pre-session. Being an ingorant rookie I put a market order to sell in for right when the market opened hoping I could catch it on the way down. It opened at $.05 and I lost it all. The stock rallied througout the day and the calls closed at $1.25. Learned A LOT.
there's alot of pain talking about losing money I'm sure it will be hard for traders to bring them up. We all like to be winners but the truth is many of us have failed in the past but we keep trying and hope one day we see the light. Ed
I started really getting into trading this year. This happened last week. Bought ETFC Monday around 4.90, watch it drop to 4.20 after hours. My stop loss was only for the day so the next morning when it went up to 4.30, I sold all my shares because I wanted to cut my losses fearing that it will drop further, Only to see it go up over 5.00 throughout the week. It made me have a great fear of holding over night and making sure my stop loss are set. Psychologically, it did not affect me much as I only trade with money I am willing to loose.
I've been playing ETFC for about 2 months, this baby rolls up and down alot. I think it's going back up to mid 5's this week and will probably do the same next week as it did this week...but you never know. I wish I had it at 4.20 again! Long term, it's a keeper IMO