So, I know I shouldn’t, but sometimes I’ll hold onto a losing trade just to avoid admitting I was wrong. It’s my biggest bad habit, and I think it’s finally time to break it. How do you get comfortable cutting your losses without looking back?

Post Photo
like
Posting as :
works at
You are currently posting as works at

If it is already going down hill, you’ve crossed the line of being wrong. Doesn’t matter how much longer you hold onto it. There will be wins and losses that everybody experiences. When people talk they just focus on the good even though there is always a mix of both.

The key is having a plan before you get into the Trade. What do you consider Max Loss For you. For example, if you just do a one legged long call at $2.50 do you put a metal stop at 1.25 or an actual stop at 1.25 you may want to be a mental stop because of the volatility, but if you agree in your head, that’s what you’re gonna do they need to do it.

I do credit spreads now to force me to have discipline because it’s a defined max gain and a loss. But I still have a Loss point that I would leg out of Or get out of the trade completely.

You also have to keep in mind economic news. I stayed in Trade’s little bit longer today because of the inflation data. That’s yesterday and today. If the news didn’t help me, then I already decided I was getting out of the trade and moving on. Cutting losses is about capital preservation so you can stay in the game and continue to learn. Consider lowering your risk early on and see you’re comfortable with your training plan.

It’s easy, it start with your mind set. Learn what triggers you to hold on and ask yourself why. Find that issue then learn to categorize your subconscious to change your way of thinking. Because it had turn into a habit that your doing repetitive though your thoughts and emotions.

Try betting prediction markets. We’re terrible at predicting the future. It’s much easier to admit when I’m wrong when I have a scoreboard reminding me and a public profile that displays it.

Related Posts

I saw Goody Proctor in congress with the Devil.

like

How do you handle people’s kids showing up on video meetings? Screaming, kicking, hamming it up, (wasting time.) Everyone else is coo-ing…I’m not a kids person. Heard a technique which is to drop off the call bc you “assume the call is over” (which seems like a great way to get fired especially if it’s a way higher up’s kids - plus it feels rather passive aggressive.) Thoughts?

like

Likes to Open DM please ❤️

Post Photo
likefunny
like

Can anyone here speak to CAPCO as an organization and also to their Cyber practice?

like

Which company is better in terms of technology, growth and work life balance?
Boeing or BNY Mellon | Pershing

Hi does hsbc gives joining bonus how much salary band we can expect for gcb 5 ? This is my 3rd post on fishbowl but not a single reply I am getting ..

like

Looking for a resort to use points at for a girls getaway. Limitation is no zika places so pretty much continental US or Bahamas. TIA!

like

How much do people make on average in VC after 2-3 years out of undergrad in MBB/IB?

like

I’m celebrating my birthday and considering to ask for donations instead of gifts. Good or bad idea?

funnylike
like

Hi Fishes,

I have received an email from HR that you have been selected at citi and asking to send few documents like id, salary slip,few other forms that need to filled and scanned. It does not have compensation offered in any of the attached document. Can you help when they will release compensation offered part? What will be the further process? Will they call me and discuss? How does it go in citi?

like

Hi Fishes,

I will we interviewing with Salesforce for the position for Customer Intelligence Analyst position. Could anyone please guide me with the interview process and difficulty level.

like

What's up with american funds? They seem like the hottest "it" fund--is it all marketing and hype or do you believe this is the hottest fund company on the street? Which mutual funds are you selling

like

I suffer from depression. Currently on 150mg Venafaxcine. It seems my depression is worse in the day and I come alive at night. Has anyone experienced this with or without Venafaxcine?
I work remote and I'm currently on the bench. I'm worried because my utilization is low...Im trying to learn new skills and sleepy during the day it makes it hard. I don't get sleepy until 3am because I'm wired/hyped up. I don't know what to do. Without the meds, I won't be able to get out of bed...

like
like

Anyone have insights on the Sr PM role with the Customer Insights group at Amazon? Is that basically customer service? Any info on pay would be helpful too. Thanks!

like

Is transaction advisory better than cfo advisory? In terms of work and pay..

like

Additional Posts in Option Traders & Investing

Dipped my toes in some dumbass hype stock - 60 shares of FMCI, planning to sell within 2 weeks

like

Earnings season is here!

Post Photo
like

Are warrants still available on IPOE? I'm having trouble finding the ticker on TD Ameritrade

like

Love that in true form I chose the 1 red meme stock. 😂💎💎💎

like

Long time in the making; but we finally sold off from our 50% HWB short. We had two tests at the 3400 level, getting as high as 3420 today before the sell off. Momentum and pessimism over lack of stimulus could take us to the 3107 target quickly, nearly a 10 percent decline over the next month. Stay short my friends. It's going to get bumpy.

Post Photo
like

there are two types of fish in this bowl..

Post Photo
like

Anyone else think big end of day drop? Scary weekend to hold long through

like

Sundial Growers 🏄🏻‍♂️🏄🏻‍♂️🏄🏻‍♂️

like

For those who have been driving the daily thread posts (senior tax accountant / KPMG / etc) please DM me if interested in becoming a community leader for this bowl. I’ll put you in touch with Sam from Fishbowl. Thanks!

likeuplifting

Thoughts on SNAP puts ? I feel like Snapchat is the least utilized social media platform behind IG, tik Tok and Facebook. Yet it’s basically at a 52 week high

like

8/12 Thread (General):

like

Hell YEAH!! They JUST approved!!!! Make it rain on Monday!!!

Post Photo
likesmart

6/16 Thread (BC):

like

Is blockfi only a bank and not really investing in crypto?

like

Growth stock ER week

Post Photo
like

Have a 2/15 call on ghiv. Tanking today, drop it?

like

New to options on fishbowl - I have a call itm with Robinhood that expires tomorrow. If I don’t sell it, what happens? Will they exercise or am I better to sell it?

like

Shifted more options profits into 250 NOK shares

like

@BC what do you think about SHOP puts?

like

only buy VIX if you think the market plumbing systems are clogged.

Otherwise your sinuses will become increasingly VIX allocated over time.

Maybe that's ok.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal