Hey guys, so I trade myself as a college student. I play around with a little bit of money and tend to look at small/micro cap stocks. Last year I watched PLUG bottom out (a dime and some change) and had a Hannibal Lector type love of the smell of blood in the street. I had my finger over the buy trigger w/ 20000shs @ .15, but then changed my mind and bought a similar stock -- you can tell where this is going. As of this writing, PLUG's HoD is 11.41 .. Depressing when you do the math, even if I wouldn't have had the balls to hold this long.
I know the typical trader philosophy is to do a.) using a Will Smith neuralyzer to forget and/or b.) take some time to dust yourself up and go get them next time; but this one sticks/has been sticking in my mind for a while. Anyone have any similar stories/advice?
Start with the obvious: why does this trade bother you so much?
Mainly because I got distracted after doing research and bought a very similar stock that didn't do near as well. Then looking at the pps (and StockTwits / god damn Najarian going bonkers over it) and kicking myself. I am guessing everyone has "that one trade" but nonetheless..
I keep a journal of all my major trades and observations that I update at least once a week. Try starting one and use it as a time to be totally honest with yourself. Don't be afraid to hold back and let your mind wander. It's a great way to dig deep inside to see where the emotions are stemming and how its affecting you today (like @UFOinsider mentioned).
That's part of trading, whether you're a pro or you just trade your own account like I do. I missed FB and I'm kicking myself. Live and learn.
To put things in perspective, how pissed off are the bears who missed out on the last five years? HAHAHA
It seems like you don't have a lot of trading experience, which is fine. Trading is not like medicine, law, engineering, banking, etc, where you have to be correct almost all the time.
You'll be a fantastic trader if you get the trade right 55% of the time. That means you'll be wrong 45% of the time. Suck it up and move on.
The best way I have found to deal with this is simple... When you feel that you have a genuine opportunity, but are not 100% sure, just do a little bit, like 1/2 or 1/4 of the size you originally intended. This way you're guaranteed to not feel terrible about it, regardless of the outcome.
Otherwise, like others said previously, it's not a big deal. There will be more like this.
Use today to get a sense of relief that you weren't in that move and a starting point to move on.
Window shopping stocks is useless. Can't count the number of times I've missed out on a big move up, but when I'm right I always kick myself for putting on such a small pos and exiting way too early.
Just part of the game.
Really though you would have jumped out of this trade light years before it hit $10 a share so it really isn't as bad as you think. But still think of it this way you didn't loose any money it could be worse
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