Look. The trading life isn’t for the faint of heart. This shit is treacherous, rigged, and aggravating. But if you’ve been doing it for any amount of years, or even months, you obviously like it and are at least somewhat profitable. If not, hopefully you manage risks well. But what happens when you manage risk, and the ‘unseen hand’ attacks your money position? Yeah, Stop Losses can get blown overnight. It’s a part of the game. A few dollars difference. No big deal, right? What happens when it’s Facebook (Meta) blowing down $100 a share though. Yeah, I took an 8% haircut recently. It’s been a couple of weeks and I’m still hardly over it. Granted, it’s far from blowing my account. And honestly it hurts my feelings more than it hurt my account, thanks to Tesla. But it was enough to sting. Add to that the European aggressive actions we’re dealing with, and ALL of my positions are down. But losses are a part of the game. There are plenty more traders taking way bigger hits than me. Doesn’t help my situation but puts it into perspective. Rich people don’t cry over spilled milk. They look for the next opportunity and research then execute. Brushing off an 8% loss is more likely to help me find the next golden trade than not. The law of attraction favors those with a winning mindset. Being calm and waiting for new buy zones is the name of the game. Unfortunately, the news right now is driving the market into super lows, but it’s also the Opportunity in the Chaos that we traders thrive on. Find the lessons in the adversity. Review the charts for the last 2 or 3 years. Pounce on those stocks that were overpriced and wait. It’s going to be a rough year. We will all come out even better though.
Comments