Day 5 & 6 : Excessive risk-taking ☠️
Past 2 days were the exact investing reminder I needed (and why I hardly trade 🤑)
Context: after getting it somewhat right for 4 days, I gained “confidence” I could predict where the market would go, taking on aggressive bear / bull positions. 📈📈📉📉 $Direxion Daily S&P 500 Bear 3X Shares ETF (SPXS.US)$ $Direxion Daily FTSE China Bear 3X Shares ETF (YANG.US)$ $Direxion Daily Semiconductor Bear 3x Shares ETF (SOXS.US)$
Recognising my hubris trap ⚠️, or “precedence fallacy” (getting it a few times right, and letting yourself to believe you can’t be wrong) in this paper trading comp was my biggest personal takeway 💡
Lack of risk management: Glaringly, I also exhibited zero risk control 🚨 With trading window down to 1 day, the smart decision may have been to exit my holdings and do nothing 🫥
In reality, I was jumping in n out of trades (crossed the 100 trade mark 🆙), skimming top n bottom somewhat successfully.
Ultimately, the final decision of the night was the biggest - to go full bear 🐻🐻❄️🐼, as news of the ongoing Israel conflict escalated
Perhaps directionally right in several days time, but did I consider the risk-reward? 🧐🧐 Na-dah ❌❌ I was trading on my hubris, expecting / hoping / praying for prices to bend to my will
Summary: Oh wells! This was truly a fun ride, and I loved every moment!! ⛰️🚴♂️
Actual filming of the Money Master comp starts this Friday! Onwards & upwards 🚀🚀
Note to readers: possibly my last post for a while, hope you enjoyed my sharing! 💙💙
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Bear Bear Craig : I like your style. In fact no risk no gain, I’m building up bear positions too! Good luck
SQQQ 