Yeah I am taking a bit of a victim mentality on this. It’s one thing to just be wrong, but a whole different topic when the House of Cards takes a f@ck!n& dump and everything gets “reset”. So the drops in prices overnight, fall on our laps. OK. But now they talk about “new valuations” and the stock you bought for $43 is really only worth $23 now. All of a sudden? Really? OK. So the portfolio is down. It is what it is. I’ll just collect the dividends until something good happens. Oh. The dividend was cut. Ok. Well I can sell covered calls….oh premiums are pretty much nil. Got it. Eventually things will change, but taking the elevator down, just to take the spiral stairs back up sucks. My plan wasn’t to be in a lot of stock positions long term. But plans are made to be broken. Everyone “saw it coming” when the market tanked. But how many of them liquidated their positions prior. Trust that you’re not alone in your pain. It doesn’t make the pain lessen, but you are not the fool. We all got played. Hopefully you kept enough free cash aside to be able to try and generate income by trading Forex or Index Futures. It can be a slow grind, but you’re being active in determining your trading fate, instead of passively waiting for the market makers to decide when the market “corrects itself”. Anything worth having is worth fighting for. You will get tired and you will see injustice, but believe in yourself enough to see you at the finish line successfully. This isn’t the first reset. Won’t be the last, but going forward, you will know what to do. Or at least what not to do. Trade Well!
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