If you're constantly losing money, or losing BIG when you do trade, it's not Tim's fault. Look in the mirror and you'll see the real culprit lurking underneath. "Trader, know thyself"
I realized this the Wednesday before Thanksgiving with MDGS. I was on the right track, having made over $600 in under five minutes, only to become GREEDY trying to force a trade, and losing nearly $1900.
The pain and disappointment are beyond anything I've experienced when trading thus far. Be thankful for every dollar you earn. Ironically, this came the day before Thanksgiving. Definitely reflected on this over the holiday and into the wknd. It's eye opening to say the least.
@TimothySykes and the @profit.ly community are AWESOME. There are plenty of resources available to anyone looking.
Keep your emotions in check and stick to your plan. Greed kills (profits). I can now attest to this.
My current losses didn't come from just one trade; why in the HELL would I think I could recoup them with one single trade ?
Admittedly, this is late. Just taking the night to catch up with everything. This was my first blog. I thought it necessary to document my mistakes so that others could see and possibly learn from this. Good luck to all. Keep studying.
Thank you, Chongette. I will definitely do that. While studying tonight, I realized that I need to sit back & work on my pattern recognition as well. It makes sense when I'm studying, but I fall apart when trading ! (LOL) I will heed the position sizing advice. Thanks, again !
@moneybaggz5150 no problem. Good luck!
your not alone brother. slowly you will make it!
Thnx, SignoriLuca. Definitely time to reevaluate things. Best of luck to you. See you around
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