Anyone reading this I hope you can learn something an maybe it can help you to not repeat it. For me, may it be a reminder in the future and another lesson in what NOT to do. I don't even feel like blogging today, but I promised myself I'd do it. Took a loss out of the gate this morning of about $310. ZFGN was the stock. I bought the dip after the premarket run. Now a loss of $300, well looking back NOW.....that is not too bad, I can make that back a few days to a week. I had smaller shares. But this morning that red $300+...... It felt bad at the time, but is nothing as to what would come....
I was upset after that $300+ loss!! I revenge traded and you probably can guess how that ended
So yeah, here is the freakin stupid revenge trade. I couldn't handle that $300 loss, so I jumped in Low float, thin, thin stock LEI. I had averaged in 2700 (WAY....WAY TOO BIG!!!) after the initial pop to $5.39. I had an average of $5.07. It actually traded above it briefly then just fell apart. I couldn't get out, I froze. I HOPED and prayed as oil was rising that this energy stock would give me a miracle. Been here and done that! Will I ever learn?!?
I froze so much today. Now my 3k account is about $1100. Very disappointing, deflating and not happy with myself.
Had I just accepted that $300 loss and calld it quits for the day....as my gut said to shut it down for once and call it a day. I wouldn't be in this mess.
PLEASE learn to ACCEPT SMALLER LOSSES!!!! DON'T REVENGE trade!!!!! BE SUPER CAREFUL WITH THIN STOCKS with NO VOLUME!!! Don't trade like me!!!
Like a sling, in order to be slung forward you must be pulled back, and the harder you are pulled back the further you go. Everything happens for a reason, the best changes come from the worst losses. Best of luck to you in the future!
Yes, sometimes its hard not to make a trade, for example the second trade I ever mad(yesterday) was a total chase against my rules, and you can guess what happened. Sometimes we need losers to knock the sense back into us!
Everyone needs the big burn man, and better to have it now than later. Im only 8 trades in and im down to $1000 from $1500. Ive made everyone dumb mistake from chasing, following people blindly to buying too soon before a possible spike, and it hurts. but realizing how wrong you are will benefit you in the long run. keep your head up bro
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