RogueTrader11

Lost A Pretty Penny on This One

NYSE:MDR   None
Lately I have been experimenting with new strategies, and I lost quite a bit. I have learned some new Dos and Don'ts out of it though. I rarely post losses, but here it goes. This is a loss that caused me a months worth of profit. I chose the wrong set up, I played at resistance, I didn't get out when the pattern broke down, and my share size was too big considering the risk I was taking (I very well knew it was not a calculated risk).

This has taught me a valuable lesson. STICK TO THE PLAN lol. I got cocky, and lost a month worth of profit, BUT I am not sour about it. I am grateful because I tend to learn from my mistakes and the mistakes of others. If you are on a losing streak (like me lol), go over your trades and go over your thought process. What made you jump in? What did you see? What made you stay in even though the play had broken down? I will be doing this tonight. Good luck out there guys. October will be better knowing what I know now. I will post my winners and losers more. Stay green out there guys.
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