Received 2 Karmas
Machinistrades
Machinistrades Feb 23, 16 10:30 PM

Losses like this are very humbling. A great lesson to you and to all of us. Thank you for sharing, at least you gained knowledge :)

MiddleTrader
MiddleTrader Feb 24, 16 4:21 AM

Thanks for sharing it. I would suggest two things here. - if you miss a trade don't chase it. wait for the price to come to you. - if you have to leave your desk after you place your trade, have stop limit just in case things goes wrong with stock you bought. to protect your capital. if you still want to chase go with small size ;)

Sergious
Sergious Feb 24, 16 4:26 AM

You could always have set a stop loss to lock in some of the profits instead of going negative. I know Sykes preaches not to use them, but they work magic in cases like this. Lesson learned.

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MiddleTrader

@Ninja0n3 Hi, I was following you while back, where you were talking about software you coding. I am wondering if you completed it yet and did you use it in real account ?

Ninja0n3
Ninja0n3 Jan 29, 16 6:29 PM

Hello, I haven't completed all the features of the software. But I have used it in real trading, still needs some fine tuning; though I haven't had as much time to work on it as I got caught into bigger trading related dev projects :)

MiddleTrader
MiddleTrader Jan 29, 16 6:34 PM

That's cool bro. I have Questrade account and I am trying to do something small for easy and quick entry wihtout double notification and easy to cancel the trade with confirmation. As the confirmation msg sometime cost me money or eat some of the profit.

MiddleTrader
MiddleTrader Jan 29, 16 6:34 PM

I might ask questions when I start it. if you don't mind.

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