First things first… Don’t tell my wife.
Second. I know what I did wrong, and it was SO many things.
Third. Shake it off. I know it’s months of work gone, but I live to trade another day.
It’s by far the largest loss I’ve ever had. 30% of my trading account evaporated in minutes.
Everyone says traders will eventually blow up their accounts. And this is about the third time I’ve done it.
All different mistakes. But they share the same rules to remember that would have prevented it:
- Set profit target and take it
- Respect stop losses
- do NOT double down on a losing position
For some reason, I’m not feeling as devastated as I was the last two times I blew up my account.
Maybe I’m just numb to the pain or don’t realize the severity?
Nah, I think I’m just more optimistic and am motivated to do better.
Set rules. Stick to them.