You are talking about options. I am talking about actually trading with a chart and TA. Not talking about spreads, not talking about arbitrage. Im talking about sitting your ass down on a 5min chart and trading in real time.
Addiction can kill a traders mindset and hard to bring them back to reality. The best advise I would probably say is to set limits of every trade you will take, this can be 1% or 2% per trade and have a strict MAX LOST so for me my max lost would be 2% of my account for the day. And never set a daily goal ever, be humble with any amount you receive, whether its 0.5% or 1% of the account and anything over that is a bonus and treat yourself for some new clothes, or placed in a buckle to save up on buying a rental property. Call it a day and prepare for battle the next day. It's really hard for new traders to fight the surge knowing they missed out on a "potential" 10-20% runner but keep in mind. 0.5% daily is 126.5% gain in a given 253 trading day or beating the S&P 500 by 16.88x at an avg year of 7.5% give or take. I do understand people having a small account, but things take time to build your account to a size you feel happy earning per day. Patience is really a blessing and key in doing this long term.
If you intend to hurt yourself on purpose, join the Marines. You not cut out to be a trader until you grow up. Become a Marine, they will teach you discipline and respect cause you lack both. Good luck
What were you thinking? If you really don’t want to happen this is future you need to work on your mindset. You are aware that you were revenge trading but that is not enough. Hope you recover all your losses soon.
hope I won't sound pathological here but ..can you actually prove that you lost your money? we usually demand proof of winning...now I demand proof of losing! and I mean now!
%% That; + never confuse gambling with stupid risk. Lotto is a stupid tax on people that cant do math......................................................................................................
It will take discipline and constant mental reminders to stay grounded with focus and force yourself out of the habit of revenge trading and gambling. My issues are with not trusting my plan and chart analytics and losing out on better revenue. But, like I mentioned, I am staying focused and disciplining myself to break that wall and each day it gets a little better. My point is that im taking my own advice and know it works. Happy trading and I wish you the best.
%% Have to look @ both side of the trade.Good thing he found out before marriage, that he needs to read some more trading books + charts. That way if we dont believe the trading books about the stupidity of revenge trading, we can see it on the charts/get rich quick seldom works; i would not tell her you lost it gambling/trading is not gambling + she most likely will not believe the gambling nonsense.[Remind your girlfriend[ with a love note ] the good news is you lost a lot ,but did not waste your money on the lotto\a stupid tax on people that cant do math.]
Can totally relate to this. Believe me it’s perhaps the hardest part when you have to logically walk away from trading with a hope that it might put some money in your account.