Tuesday, July 26, 2016
7/26_KOOL-$15000
Same mistake :
1)failed to take it off when HOD breakout, tried to convince self it could be HOD stuffing.
2)"Position Size" was wayyyyy toooo big.
3)added to loser
4)didn't respect the stop loss order. Having "I will see what it does" mentality
5)when it pulled back and held above $5, that was huge danger sign but I only covered a small portion of it.
The main mistake was again refused to take position off into weak pullback.
After took huge 5 figure loss I went into full revenge mode so I took a big long position. Initially it worked out but I wanted more and boom sold into the washout.
Today is perfect example showing you that when everyone is watching and doing the same thing, it can go to the opposite direction!!!!I was right on morning stuffing action but hey!!! A thousands of other traders were coming across same data and information!!! I saw stuffing the chance is they saw stuffing toooo!!! Smart trader would keep position small and immidiately covered when it continued going upward. I was the stubborn one keep holding, wishing, rationalizing, gambling!!!
It's hard to continue trade after taking big loss like this. I fully understand what it feels like when Nikko and Tim Grattani was taking half million dollar loss. It's demoralizing!!!! I doubt if I can sleep well tonight. But this is what it is. You have to hold your action accountable! Life is fair, whatever you do it comes with the price. Yes I am still up YTD but I just put my July month in the red zone!! I don't know if I can take this anymore. Just like Nikko and Tim said there were several occasions that they thought while they were still ahead of the game, why not packed up and end this??!!!!! This is the feeling coming through my head now. While I am still green YTD, why not cease trading and find a normal job, a more happy and less stressful job. But I can't!!! I worked so hard, been through so much!! I put a lot of time and efforts in it !!! I can't give up!!!!! Yes I want to give up but I can't!!!! This is the only job that you could have a chance to make $10k a day!!! It took Tim Grattani a year to make a new equity high and it took lx21 greg a year to recover from a million dollars loss. All successful traders went there traumatic moments and they survived!! Why can't you??!!!!
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