Tim mentions clearly, do not trade based on the news!!!
I did, and I lost big. My etrade account is $2k only, down now $800. NEVER TRADE ON THE NEWS, NEVER NEVER NEVER.
I traded CNBX weed stock, just because after election marijuana was approved at several states (how naive)...now I know. It is a big lesson that cost me 40% of my account.
However, I treasure this lesson now. I understand now how these stocks are trash, and it is all about speculation, as soon as they become fact, they are no longer interesting. This is the world of stock market we are dealing with...and I love it.
The market is smart, wild and unforgiving. I regret the loss, but I do not regret what I learned.
I totally failed to exit and reduce my loss, I was frozen, hoped for the best, though it was clear the worst was coming...
Next morning, I traded again...without fear but with high respect, knowing that the market is a monster that sometimes will beat me up. I stroke back today, traded $500, it was tough...$20 profit today. No loss, very little, but will continue to move on.
@osirustwits i see whatvyou saying, the reason i lost in that trade was probably because i didnt you one of those things you mentioned. Legalization really does not carry any weight, i was basically going off my own speculation but if i would of factual catalyst would of made more sense
@Wallstreetfinest Thanks man,will do
@osirustwits Got it sir...I will reach the sky eventually, and I appreciate your comment
Protect your capital. Manage your risk first before trying to bank. Wish you good success
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