I made like 267 on FB today.
Then i stumbled on the same rock of the other day.
Brilliant me decided UA would peak half way and that i could short from there, well, it had no peak today!
UA gave me like 10 chances to get out with only a 15.00 loss but my big EGO didnt want to admit i was dead wrong! I had to be right!
I guess every opportunity i was being given to get out with only a little scratch, i was looking at at as a reaffirmation that i was right on a wrong trade,
At the end i had to cover at the end of the day taking a loss of about 240.00
I guess one of many lessons I can draw from this shittie trade is that it's not about being right all the time, its about making money and not loosing it, at the end it all adds up!
Posted Jan 28, 16 4:04 PMbyKeepTheRules
Received 2 Karmas
90% of people are like this. In order to be a profitable trader you have to be a "good loser". Meaning being able to cut losses quickly. Being a good loser is counter intuitive for most people thats why a lot of people fail.
Thank you for your comment!
Sometimes when you're in a bad trade, it will return to b/e (break even) and struggle to go your way. The algos are trading against you. At that point you should just admit defeat. It's like they give you a chance to get out but your ego will inject hopium. Then the algos screw you later. So learn from it. Video lessons on cut losses quickly.
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