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What's the worst trade you ever made and what did you learn?

Education
SP:SPX   S&P 500 Index
In the comments below, write about a trading or investing experience that did not go well. More importantly, explain what you learned from that experience and how it shaped you as an investor or trader today.

No trader or investor wins 100% of the time. We all have setbacks or at times make decisions that did not perfectly work out. Your experiences and insights will help other traders and investors learn. It's the best way to get better and grow - sharing, talking, and exchanging ideas with others.

We look forward to reading what everyone contributes in the comments below.

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Comments

worst trade I've ever made was about 1 year ago, went into a trade on the Nasdaq with almost 50% of my trading account on ×20 leverage at the top of the channel, and it dropped for two weeks almost exactly when I opened the trade, I didn't sleep for more than 2 hours at a time as I tried to average down my trade, ended up losing 15000 at the time was lucky I didn't blow up the entire account, I can say, I learned more on that one trade than the entire two years before, 1. Never use high Leverage, 2. never use more than a fraction of your account on any one trade. 3. never trade with greed,
+9 Reply
@DAR1109 That's not a poor trade, that's poor risk management and without that it's almost impossible to stay neutral minded enough to consistently pick the best trades. ✌
+4 Reply
We all had such lessons here, we need them to go ahead.
+1 Reply
@StewySongs what makes a good trade?
+1 Reply
my strategy is very very solid and tested but my main issue is I can't control myself after a loss I always want to recover what I lost and that leads to overtrading and over losing I think I need a piece of advice
+8 Reply
@addydahviber please can you share your strategy with me?
Reply
if you loose twice in a row, leave your computer and take a walk or do something else. give the charts time to give out more data then come back an analyse again after hours off or the next day. missing out is better than taking losses. You could also set yourself a loss limit. say if you go down this certain amount or % of your account, you quit trading for the day.
+2 Reply
Document absolutely everything. Open Excel define the columns (entry price, exit price, strategy used, timing, global market sentiment…) and don’t forget the description column, add descriptions for each trade (one trade per row). Now, every time you are placing a trade, document the trade. Add columns every week to your excel until you are happy with a version. Do that for months, improve, and you will see new things. Find a way to optimise this action, it shouldn’t be time consuming.
+7 Reply
@HugoTrades thanks for the tip, mate
Reply
HugueTrades GCancino
@GCancino, Pleasure mate
+1 Reply