I am finally back. After blowing up my small account once again and going through biggest depression up to this point, I can happily say – I AM BACK.
Took me almost 1 month to recover. As you probably know last time I started small account challenge on 19 of MARCH. I traded for three days, managed to grow my account to 50% and then blew it all in one day. Took very risky position and paid high price for it. I was even ashamed to show it because I was sure I got it this time, but was wrong.
It’s hard for me to post the trade what killed me, but I am doing it anyway.
Here is what happened on 22 of March
OMEX had very big pre market action – it climbed more than 200% pre market. It was stupid to think it gonna continue higher at open. I didn’t accept what is on risk – it could fall after open and as it did. I took 400sh position over 13$, it moved up few cents for few seconds and then dropped HARD, dropped 1$ in seconds. I got paralysed, mind freeze took me over. I saw that I am down more than 400$. Then came in emotions and hope it can get back up, but then it dropped 1$ more. I got white as paper, was feeling sick – it was all of my accounts value and i just watched how it gets destroyed. Finally I got margin call. I was sitting and making no noise. That was the most painful experience up to date. BUT NO PAIN NO GAIN. Success doesn’t come from giving up, you need to work for it.
So I am back to trading again, but this time it’s different. Have changed broker too but why I did it, will make a new post.
So how I did today?
I traded just one stock today. KONE – took it just before halt at 6.74$
It was halted for 10 mins for volatility.
Traded only 200 shares, still got to get used to new software.
As you can see, I am still using SureTrader charts because just can’t get used to TradeZer0 charts. Soon gonna be upgrading to tc2000 charting software.
Can’t wait what tomorrow brings us.
Thank you and wishing PROFITABLE TRADING for you all!!