I'm down 22k on the year, I suck, I hate life. I need a miracle FDA approval on some small biotech's I'm holding to bail me out, otherwise I'm screwed. My DXD stake lost about 2k alone today. I'll never break even on that unless the DOW comes back to 12-12.5k... if ever. At least I don't play on margin. Never have, never will. I'm half in cash and am scared to do another trade. I almost chased NOVC for a quick scalp as soon as the announcement came on CNBC at around 13 but just watched it tick higher, then dump off at 17 and back to 13. Was a quick easy trade for most...kind of like a quick DNDN scalp couple months ago...
It happens just chalk it up as a day. (tommorow is a new day) I have had days when the market was up 200 and lost money. Sometimes we are all a victim of circumstance!
Hey man, cheer up. I was down in the dumps early until about February. Plenty of time and the thing is, I keep reminding myself that the market will still be around long after I'm dead so no hurry in trying to make up everything I've lost. When you know you don't have to hurry yourself to make back losses, you'll make it all back sooner than you'd think.
Thanks for the feedback...Yeah, biotech's are a crap shoot. I also have to learn to have my winners run but at the token, I've avoided many losses by not getting too greedy. It's a tough game nontheless as we all know. Yikes options, I don't play that game unless I'm tipped off on a takeover...j/k. Tomorrow's a new day...
fascinating that you trade biotech and not much w/ options.. considering the crazy moves, i'd think the options market might be better for you.
Don't dispair, we all go through drawdowns every once in a while. I know it feels horrible to be down in a hole and crawling out of it feels like walking through an infinite dark tunnel without any light at the end of it. Every day in the hole while the markets are up makes one feel more and more miserable. I've been there and I know how it feels. Just hang in there and be disciplined. Once you're out you'll feel like you're the king of the world.
Man give the guy a break. He's a bull, and he's sticking to his positions. I don't see how that warrants all the flak going around here. Leave him be, he's not hurting anyone. RoughTrader
The worst for me is taking a drawdown and then facing weeks of untradable market chop. Drawdowns will happen, but what's frustrating is having no decent setups to work with to get out of the drawdown. I wonder how that guy who made the thread "strategy to trade future" is doing. In one month he purportedly turned 50k into $350k or something of that nature. If he's still going at that rate, with compounding he should be the richest guy in the world.... RoughTrader