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Recently took a massive 107K loss which blew up basically my account that I grew 2023. $MGOL was the ticker and it's funny because I had about a 7-8K day on it before loosing that and ending the day red -107K. It just never bounced, and I had about 200K in my E trade account trying to prove to the world that I could make massive gains as a newbie (a little over a year in trading). Averaged down, cut averaged down cut each paper cut was like $10K until I couldn't stomach the loss and convinced myself that it "HAD TO" bounce. Well, it never did. I have taken lots of time to reflect on that loss and how I handled it before, and after. Moral of the story: Don't make gains too quick. Don't trade with all your liquid capital. Don't get over confident especially your'e 1st year making profits. Don't build bad habits while making profits (Recognize wins and losses by how you follow your strategy rather than income. Cut losses quickly. These can be repeated over and over by Tim and all his students 1,000,000 times but until you make the mistakes at a degree that actually "HURTS" you, you will never learn. No pain, no game. I recovered about 30K or so by the end of December ending the year at a total profits of $46,102.27. Coulda Shoulda Been $190,000 ish. How I'm moving forward: I have adjusted my strategy to avoid catastrophe like that, switched to Trader Sync to track my trades more in depth rather than Excel which worked to find traction but doesn't keep me disciplined. So far as oof making this post were 3 market days into 2024 and I have a NET profit of about 12K. Not bad for a 30K account so my skill set is still there, but working on my discipline is key to success. Hopefully this is my FINAL 3rd account blow up. 2024 Goals: 1. Trade Less Balance Life 2. Max Daily Loss 5K 3. Recognize Revenge Trading 4. Focus on Past GREAT trades 5. One Good Trade. One Good Trade. Focusing on trading more like a professional like Elis preaches about. My profit doesn't reflect correctly on Profit.ly when I upload as of today Profit.ly shows $48922.46 when in fact I am up $58,090.79. I'll check back in with monthly posts showing my profits and losses maybe do a video if anyone wants to see what I am focusing on. Until then, let's make 2024 a life changing experience!

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DDT
DDT Jan 08, 12:48 AM

Appreciate the post bro. Tough loss for sure but you clearly know what you're doing otherwise wouldn't be net positive to begin with. Onwards and upwards - All the best for 2024 my man.

HIMMENY
HIMMENY Jan 09, 8:16 AM

Thanks for sharing

_john_
_john_ Jan 24, 8:09 AM

thank you for sharing

djshaw25
djshaw25 Feb 05, 9:24 AM

Wow…that’s a story thanks for sharing. I have got a lot from you. Let s make 2024 rock!

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djshaw25

Wanted to meet up with you at the conference- just wanted to ask you about options??? Didn’t get a chance to find you hope we can talk one of these days 😊

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timothysykes

Grateful for my student for helping patch me up after I cut my finger throwing my laptop https://tim.ly/3s2bWZl sorry again for losing my tempter, I just HATE when the wifi goes down!

djshaw25
djshaw25 Oct 28, 23 7:17 AM

What a great conference - such amazing stories - just absolutely so great to put faces to names. Listening to incredible people all paying it forward and so willing to help in any way to make our marathon path less rocky. Pleasure to meet you in person - you are for real! Thanks for a memorable 2023 Conference.

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