$SPDR S&P 500 ETF (SPY.US)$ hi guys I lost a good bit on fri...
$SPDR S&P 500 ETF (SPY.US)$ hi guys I lost a good bit on friday actually! wiped my gains for the month, but lucky did not go into my own pockets.
after taking a big loss, the immidete thing i thought of was “I just wasted my entire month, all that work and analysis just to be at breakeven”. and I honestly wanted to just call it quits! however, the mistake I made was the exact mistake I made every other time, and my analysis was correct but flawed, bad entry.
I could revenge trade, or throw more money in, and I definitely want to take an ACTION but the problem relies within myself, and if i continue trading ill lose it all. until i fix my mental issue/block, i wont continue to trade.
if yall take a look at my day1 posts, and the weeks following- youll see I talk about the phycological side of trading alot.
always have a why to trading, why you want to trade- when striving away from your why, dont look for a new answer, but just stop and revaluate.
my why is that in my field of work, I could become a full time trader! like a real institutional trader instead of a monkey retail/consumer one, and I want to build a foundation of what trading is, and what the market is so when I make this my career, I have a foundation.
greed consumed me, where I strived away from the why and thought a new why of “im making an insane amount of money”
thank you! and I hope yall learned at least 1 thing with my posts for the last 2 months! and before the meat riders come comment on this, Im still profitable eat my butt 🧔🏾♂️
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Dannyrb : Absolutely, wonderful, honest post. I needed to read this, and its content has value.
Dan’l : Your perception of loss (and, worse still, to have wasted your time) is not necessarily true, unless and until you sell (or, worse still, quit).
If your research is flawed? Correct it.
If your attitude is flawed? Change it.
When values go down? Reconsider your positions, and consider growing them: Dollar Cost Averaging (DCA) is a good thing… so is greed, so long as it’s driven by sound, logical reasoning (and not by emotion, esp. selfishness ~;-)
2nddeltoro : trading is like zen training. if you can control your urges/fears in trading, it will help with other aspects of your lifer as well. There's much more one can learn from trading than profits.