I'm sorry about your brother. I had a co-worker who recently passed away 44 days after being diagnosed with pancreatic cancer and 2 months before retirement. Although your account took a significant hit, I am confident that your setback is temporary. Be patient & don't rush into undesirable positions.
Not sure if this is a real post or not but I can almost guarantee you that you will blow out by trading on feelings.
Ok you two grinning guys, I concede the possibility that my chances of success are even slimmer than the norm, but just the fact that I'm here makes me a statistical anomaly. I'm not ready to give up just yet. Apparently there is a testosterone ointment out there that improves female libido http://www.msnbc.msn.com/id/22471427/ -- wonder if it could help my trading?
Just focus on your edge than bullshit like testosterone and libido. But there will be swings in emotions.
There are lots of prognosticators on this site, most of whom are treated with derision. But if the game were as straightforward as waiting for a HH/HL/HH and then buying on the next higher low (or on the 3rd one if you fancied); or buying after price bounces off of LOD for the second time, why is all the volume at the start of day and the end of day? Aren't all these players acting on some theory they have without the benefit of confirmation of a trend? Keep in mind that I am still sitting mostly on the sidelines trying to figure it all out. I mean this as a legitimate question.
You seem like a good kid, so I'll make an effort. It's obvious you don't know jack squat about: 1/ the markets and 2/ about your own trading abilities. i.e., you do not have a system. Therefore you do not have a leg to stand on in this market. Especially as volatile as this one. When I stated most if not all women eventually fail at ( discretionary) trading, I was not making it up. It's a fact based on many years of experience. Do yourself a favor and have a chat with Don Bright. If you have enough capital to progress with him, maybe you can get somewhere meaningful in your trading career. He does insist you take the series 7 ( I don't know why, but he does ), however your chances for success will be that much higher.
Lucky, I am sorry to hear about your brother. I sure hope he is ok and doesnt have to experience that again. Based on very little information it appears your trading to large for your account size IMHO. I would suggest going about 25% of what it appears your trading in size. Gains and losses that high are just too big for someone to take without blowing up. Should you cut and run or borrow money? That depends largely on your situation and a canned answer would be unuseful as it would be made without complete information. If it would be reasonable for you to do so then sure, if not than you shouldn't. They key is if it would be reasonable and if the loan could be paid without hardship in the slightest No one knows if this market is right on the edge and about to fall off or if the worst is done. (sooner or later others will stop to lend us more money, the question is if its sooner or later and later can be a long time away) Feel free to stop in the ET chat where I am daily along with a lot of talented traders that been around the block a few times. Best to you 1Reason