sark_anZas
Junior member
- Messages
- 15
- Likes
- 3
I bought my first bit of stock at 10k.. then a few days later my account value shot up to 25k after a parabolic move.
...then I lost 17k because
1) I didn't look on the long term (i thought it would continue going up)
2) even if i did look on the long term, i wouldn't have understood it.
3) I didn't sell to take my gains.
4) then as it started going down i kept telling myself (it will go back up, it will go back up)
Then i DID sell whenever the stock plummetted to it's lowest low on the parabolic move.
...then I lost 17k because
1) I didn't look on the long term (i thought it would continue going up)
2) even if i did look on the long term, i wouldn't have understood it.
3) I didn't sell to take my gains.
4) then as it started going down i kept telling myself (it will go back up, it will go back up)
Then i DID sell whenever the stock plummetted to it's lowest low on the parabolic move.
Sark,
May I suggest a trailing stop on the equity in your account.
If I made a trade that took my account from 10k to 25k, I would have placed a sell stop when my account had 6k profit. If you really liked your position then at least put in a break even stop.
NEVER let a NICE winner turn into a loser.
"When in doubt stay out".
GammaJammer
Guest Author
- Messages
- 1,246
- Likes
- 830
Occasionally I have bouts of adding to losing positions based solely on stubborn pride. It's a fault I try hard to stamp out but I'm so far from being perfect that you can't even SEE perfect from where I'm standing.
It always always comes back to bite me in the @ss eventually.
It always always comes back to bite me in the @ss eventually.
new_trader
Legendary member
- Messages
- 6,770
- Likes
- 1,656
Widening my stop-loss in the hope a losing position would turn into a winner.
Technically Fundamental
Senior member
- Messages
- 2,810
- Likes
- 178
Going live
advfntrader
Established member
- Messages
- 739
- Likes
- 66
losing £10k trying to short Oil last year. then losing more trying to learn from my mistakes.
the trend is your friend
the trend is your friend
Technically Fundamental
Senior member
- Messages
- 2,810
- Likes
- 178
You win adv
foredog
Experienced member
- Messages
- 1,879
- Likes
- 314
There's the key word, not trading
advfntrader
Established member
- Messages
- 739
- Likes
- 66
it can easily happen. now I control losses a lot better. then I used to let them run and hope it would come back....
Technically Fundamental
Senior member
- Messages
- 2,810
- Likes
- 178
Honestly, mine was and still is not sticking to my set rules for entering a trade. I was very consistant on demo then when I went live I just couldnt handle staying out when a trade turned against me. I'd keep jumping back in to try recoup. Also adding to losers like gamma said.
I now have a checklist. If all the boxes arent ticked I aint in.
I now have a checklist. If all the boxes arent ticked I aint in.
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
Missing a trade by reading stupid threads on t2w
Technically Fundamental
Senior member
- Messages
- 2,810
- Likes
- 178
But you must find trades you would have missed by reading threads on T2W
Technically Fundamental
Senior member
- Messages
- 2,810
- Likes
- 178
Lol rossini. You know what I mean. Your eyes cant be everywhere.
You know the old adage gamma:
"Never catch falling daggers"
and
"Those who average down ain't around"
HaloTrader
Established member
- Messages
- 615
- Likes
- 55
Worked in Somerfields for 18 hours over the weekend to create a starting fund to trade and lost it on Sunday night.
I didn't even know what a candlestick was.
I didn't even know what a candlestick was.
foredog
Experienced member
- Messages
- 1,879
- Likes
- 314
Aisle 12 next to the matches
