Beginners mistakes
Started off trading on 25th June after the announcement of stock split, and I bought it just because, for that reason, it seems like a great opportunity to invest in. Bought it at a great price at 119 during premarket at that time, and it rose to around 128 on the same day(It was definitely beginners luck for me). At that time, it was only 50% of what I wanted to invest in as there were other 50% still on pending withdrawal from MooMoo cash fund. Once withdrawal is done, I invested everything into stocks, expecting to earn more and bought the remaining 50% at the price of around 128.8.
The next day, it started plummeting down to 123-124. I thought to myself that I should've taken the profit and bought it again at a lower price insteadSo, I begin to observe the market trends for the next few days, fearing to lose more. there are lots of missed opportunities that I could've bought when I didn't.
At that time, where Tesla stock was also hyped. I bought in the stock at 248, and it immediately dropped below to 242 (Panic Sold at 244). I was frustrated at that time and regretted my decision until it rose up to 260+ the next few days, which makes me feel more regretful
Soon, I told myself, maybe it's time to move to a safer stock, so I bought Apple, and it went well for a few days until it dropped, erasing my profits. From that day onwards, I thought to myself, "Hmm, maybe I can try scalping." So I observed and tried to do it buying low and selling high. It did work for me and managed to regain my losses until I saw nvidia rising rapidly again. I bought it again at a high price, and it plummeted down again, and I decided to do a stop lost order.
From then on, I became very careful and overtraded(buying and selling every 10-15 seconds) when it's rising in the fear of dropping). It still doesn't work for me as when I did successfully scalp for the first few trades, there is ethier a sharp increase or decrease which is unexpected. when I bought it at a higher price, it started dropping and sold it, thinking I could buy it again at a lower price, but then there was a reversal and missed the opportunity to buy a lower price and bought it at a higher price instead(Sell Low Buy High).
I decided to trade conservatively and went back to apple again, but there isn't much movement, but still manage to earn a little gain back my loses. At that time I missed the opportunity to buy Nvidia, and it rose till 135+ When Monday comes I saw that the price dropped till 128 and the premarket was rising up till 130, so I bought it at that price. and the unexpected happens.
There was a sharp decline during market hours, and I try to sell it and bought it at a lower price to reduce my average cost. but decided to hold it until yesterday it plummeted again, this time even more drastic, and it was the biggest loss I have ever felt when trading.
Now i have decided to just swing trade or hold it as a long term term investment as scalping for beginners will involve in lots of risk especially in a volatile and unstable market which will result in losses both in Time and Money. This also resulted in an addiction i felt from watching the stock market every 5-10mins when I was awake and slept beyond 4 am ever since I started trading in the stock market. Please don't make the same mistake I made. I felt stupid for being an emotional trader.
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103014003 : One operation is as fierce as a tiger
151323992 : I lost more than that so don't fret. I have almost lost my entire capital doing exactly what you did and you know what I still don't know how to trade or find the golden entry by interpreting news quick enough before a stock flies really high
Sendai36 : I don't understand if you're making a profit or a loss![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Carrot cake : If it's not a big problem, just pay the tuition fee
Zimbo : Unfortunately that’s the game. The market makers depend on new traders. Technical trading following the flow. ( Think like the whales) Never buy the top retracting stock only - use the Fib to determine levels- determine price movement in the first 15 minutes - take profits!! Don’t be greedy - be disciplined- trade small! Feel the pain of loosing 10 dollars - be okay with 3 % loss - never waits until 8% - take educated risks - nobody knows the future. Trust the technicals not your gut feeling. We all paid money to learn these lessons. Don’t try and make money - Have fun learning skills— and improving.
I sold this when it was up 3% to recover looses from yesterday- I am chilling to wait for direction-
Panic at the disco : Good sharing. We learn from every trade. 1 of my key learning point so far;
The only real loss are the profits you didn’t take.
the gains you see are not real profits if you don’t sell and keep your gains. Always set a realistic % and sell. It is okay if it continue to climb and you lose out on some. A gain is still a gain because greed knows no limit and it’s always better to sell in green then in red
103901615 : I love the sharing and saw the earlier me in trading and having the same anguish. We learn along the way but I do felt that having a self feedback loop would help us identify the mistakes and get smarter along the way
104632071 : thank you for sharing, it is very helpful