What can we learn from this?

Discussion in 'Psychology' started by bat1, Jan 17, 2009.

  1. bat1


    picked it up from yahoo message board

    This just sucks. I never thought it would come to this. It was all going so good. I was making money like a madman, but then I guess things don't go up forever, but I failed to see the signs. I lost about half of what I owned by the bottom in July 2008, so I started doubling up and using margin, and got killed in Sept/Oct last year. I thought the rally at the end of the year meant that things were now back on track. I had 25% left of what I had at the beginning, but felt that maybe now was the time, so I thought, 'well, what do people think is the strongest bank, one that absolutely won't go down"? And BAC came to mind, like it does to many people based on all these posts. So margined to the hilt, thinking that the worst was over, in BAC back at $14. Trading on margin is a mind-@#$%. It kept going lower and became harder and harder to hold, but THIS IS BAC, it can't go broke, can it? Well, I held on all the way through today, and my Broker just sold it for me. Margin call, and my wife answered the phone. So I had to tell her about it. Un@#$%ingbelievable. Boy, was she pissed. I've never heard so many slammed doors in my life. She packed a suitcase, swearing the whole time, was screaming about how 'this was all a mistake'. Then took off in the only car we have left. I don't know how I'm gonna get to work next week. @#$%@#$%@#$%@#$%@#$%!!! All lost! I don't know how it gets worse than this.

    1. never hold a losing trade!!!!

    2. Does being on margin make your
    trade harder to let go?

    3. Do you ever think a stock will never
    go to zero? (BAC)

    4. Do you ever think about your family
    when you put money on the line?

    5. Does playing catch up ever work?

    So many mistakes he made...

  2. Moral of the story, put sell stop if you go long on anything, including your wife.
  3. Schaefer


    I feel sorry for him, but at least he got one good thing out of it, and saw the true colors of his soon to be ex-wife :)

  4. heypa


    Don't get greedy.
    Don't predict.
    Don't assume.
    Use money management.
    Don't get complacent.
    Women are not to be understood by men.
    Moderation in all things is desirable.
    When you are digging a hole and things go bad. STOP DIGGING!.
    Never increase risk to get even.
    Just a few starting thoughts.
  5. maxpi


    He was financially cheating on his wife. She has every reason to be pissed.

    All these people with that same story seem like they are sneaky and dumb... who cares what they lose really...
  6. Whoever wrote that is infantile.

    The guy is stupid because once a little kid realizes fire burns you they don't touch the fire!

    This guy is just asking for a flaming log to the face over and over.

    Soon he will be writing stories of shock and awe when he realizes that jumping off high objects causes broken bones.