THIS IS WHAT HAPPENS WHEN YOU BREAK THE RULES.
Now that is out of the way, I did break all my own rules. I invested in margin(which led to losing more money than i had). I invested in a stock i couldn't get out of quickly(because of volatility halts). This stock was more of a gamble than an informed decision.
My broker liquidated my account.
Sounds scary, but i talked to a rep and they are gonna let me keep my account, i just have to go current by Friday. It is weird begging a customer service rep not to remove your account because you've been working at being a stock investor for 3 years and it is all you have left.
The good news is, this trade didn't shut me down. I'm not down and out. I will be back in the market by Monday.
The bad news is, this was my last trade as a 21 year old. It will define my 21st year forever haha.
It made me really understand how much respect you veterans deserve, taking these kinds of losses everyday and still having higher profits.
WHY DO I LOVE IT?
At first, it devastated me. It was like, the whole world wants to see you fail, and you just let them. Then i thought of how to make millions, and my best friend picked me up. He reminded me of what Sykes said, "What is a thousand dollars in your lifetime". I love that i lost this money because i am that much closer to my dream. I touched the stove, and it burnt me. Lesson learned. Losing teaches you what NOT to do. Best believe i will get my money's worth of a lesson learned..
To anyone who hasn't been burnt yet, don't let it shut you down when it happens.
"But it ain’t about how hard you hit. It’s about how hard you can get hit and keep moving forward; how much you can take and keep moving forward. That’s how winning is done!" - Rocky
Sorry, i didn't mean to give off the idea that i love that i lost that money. I would love to have that money back -- for sure. What i love is that i learned from it. I love that it won't happen again. 1300 was a lot of money, of course. At least to me it was. It is my dream one day, i can make that in a single day. @dsmcoder , thanks for the kind words
@Legendario , I'll make it big one day, and then you can reference me as someone who went broke and came back ;)
@Legendario @awrfisher You guys should read any of the Market Wizards by Jack Schlager, plenty of master traders blow up once or twice before hitting their stride.
My mistake, it's Jack Schwager here is the 2nd book <a href="https://www.amazon.com/gp/product/0887306675/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0887306675&linkCode={{linkCode}}&tag=brassmaggie-20&linkId={{link_id}}">The New Market Wizards: Conversations with America's Top Traders</a><img src="//ir-na.amazon-adsystem.com/e/ir?t=brassmaggie-20&l=am2&o=1&a=0887306675" width="1" height="1" border="0" alt="" style="border:none !important; margin:0px !important;" />
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