1. Holding and hoping
You hold and hope way, way too much. You are down over 70% on a penny stock. You should have sold for a loss ($700) at the start but now you are down thousands. A stock can always go lower. Remember that.
2. Overtrading
You overtrade to a horrible extent. Overtrading most often occurs when you make a quick profit on a stock. You feel overconfident and start making trades that you shouldn't be in. See your emotional triggers video for more.
=======================================
Please try to work on these issues.
Cut those losses & resist the urge the trade when you know better. Watch out for the emotional impact of profits.
Posted Aug 28, 17 4:45 PMbyprofitsGalore
Received 1 Karma
I feel I am doing the same thing, as in holding position far too long. I believe it comes from the PDT Rule (atleast for me). Knowing that if i cut my losses quickly, i waste a trade and if the perfect play comes up, i could be locked out. Not sure about your account size but do you feel limited in that regard?
@mazeetwazaad No, I just have too much hope that the stock will rebound and erase my mistake.
Join now or log in to leave a comment