That title is not a typo.
Over the last year, I made a lot of money trading and I lost a lot of money trading. I became another idiotic newbie trader because I ignored the most basic trading rules:
- Don’t chase because you’re likely buying someone else’s bags.
- Set stop losses because sentiment can turn on a dime. Stairs up and elevator down.
- Don’t fall in love with a stock. This one is responsible for 90% of my losses. I ignored the market sentiment because my conviction in one company was crazy high. (Still is…which is crazy dumb. 🤦🏻♀️)
Being down $4M hurts. A lot. Still retired but I won’t be getting a Parisian pied-à-terre anytime soon.