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10/06 Thread (BC):
$TBLT man. Quite the thrilling penny stock.
Sundial Growers 🏄🏻♂️🏄🏻♂️🏄🏻♂️
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Try to avoid a big red day by managing your risk. That includes max risk in a trade and maximum total risk across all open trades. Keeping your rule and holding fast. Discipline is key here. Also having a rule for number of consecutive losses. If you have more than what is typical for Consecutive losses using your strategy , which you would have to calculate in advance, You wouldn’t stop trading and do analysis on those losers to find out why you had so many losses or so much total loss. Get aligned with your original training plan. Prior to that it may make sense to go for a walk or go grab some tea or a coffee or go do something and just walk away for a few minutes. you need to gather yourself emotionally.
There will always be a red day here and there the question is how Deep are we talking. Your strategy, no matter how strong it may appear should have a predetermined expected number of wins in a row, and expected number of losses in a row, just as much as expected percentage win rate.
The fact that you're being honest about what happened is how you deal with it. You learned the lesson. Don't forget it, and learn from the experience. Keep the emotions to the side.
Just buy the dips and remember YOLO.😆
I get more fearful than reactive. I don't want to lose more so I refrain from trading for probably way too long