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you have a good memory yes, market limit down was activated. the most funny thing was another women trader pm me asking her broker just told her limit down is in affect so what is limit down and what is my advice. I told her to get out if she can but she was telling her broker to buy more. So she was right after all.
i had been in his shoes, it goes like this if it was -29k may as well wait for -30k. the inner dialogue was you are so dumb you deserve a big punishment.
I had such a trade, my very first week of trading, but it was -$6k for me over the course of 3 days. I kept buying more shares of the stock as it sold off, until I got to my maximum pain threshold. Didn't sleep for the entire 3 days. And low and behold, 30 minutes after I took my $6k loss, the market shot back up and never looked back. It was painful, but I'm glad I learned my lesson early. That's when I decided I needed to learn the markets more, and I should be learning it in sim.
I also remember when this happened, it was pretty widely posted around. I think his blog was somewhat popular at the time.
The lesson is what not to do risk management wise, as his was obviously laughably bad.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
@liquidcci, would you agree to put on a NexusFi (formerly BMT) webinar in September going over what you feel are the important aspects of auto trading?
I may be interested but would want to make sure I have enough to say to be worthy of a webinar. So I will write down a few thoughts of things I feel are important and evaluate to see if translate well into a webinar. Thanks for asking.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
forrestang if I do something I would definitely want to incorporate some of my journey to moving towards systematic trading. My failures and how I was able to overcome them via moving to a system is what I feel like could help people the most.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
