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Stock_Loser | I lost in the market and am depressed. I had $430K and lost $30K in one day daytrading. What do i do? |
cant sleep at night thinking of all the would haves, could haves and should haves. please help!!
Additional Details
Thanks to all who responded with helpful suggestions. I am trying to come to terms with what I did and while it was a VERY expensive lesson, it is one I will never repeat and surely learn from. I got into a deeper whole trying to make it all back the same day which was the problem and will look to be more patient with wiser investing decisions in the future. |
 |
 
Ron Berue
|
You DON'T make that mistake again.
You didn't lose ALL of the money in the account. You lost about 7% of the account.
Here's what you have to do:
1] You improve your trading rules for that strategy.
2] You have to improve your money management discipline.
A] Plan your trade and trade your plan. Befopre even getting into a trade, decide
A1] what your entry is
A2] what your target is,
A3] in the event the trade goes against you, how much you are willing to lose
A4] AND you stick with those decisions!
You're a traderand/or an investor - not a pray-er.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name! |
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brianjames04
|
Maybe you shouldn't be daytrading. You could go to Atlantic City and put everything on red.
30k is a lot to lose in a day but are you going get sick over it? I mean how much pain are you willing to inflict on yourself? Right now you are making a bad situation worse.
I knew one guy who lost 95% of his investment when the dot-com bubble burst. It was his life savings. He had to start all over again but he's doing pretty good. As he would say you have to keep moving forward or you might as well just drop dead. |
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src50
 |
If you're gonna "day trade", expect it to happen again and again. |
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Bob D
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If you cant stand the fire get the heck out of the kitchen. Then stop day trading...... |
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wayfaroutthere
|
Work out an investment strategy--your gambling strategy doesn't look too good. You clearly aren't the gambling type if you were up all night with this. A gambler doesn't throw money on the table unless he can lose it and still find his way back to the table next week. If losing $30K makes you lose sleep, you need to spend an amount you could lose without losing sleep.
Or make investments that you leave alone for the long term. Ones that you don't have to check on daily and that won't drive you nuts. This way, when you lose today, you can believe that it's coming back to you soon. |
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Net Advisor
|
1. Who turned you on to the idea that day trading would certainly make you lots of money? Not every trade will be a winner. Not everyone can win. Stocks are a win some, lose some game. For ever gain, someone else lost money.
2. If you are speculating, or have a large $ position you should be hedging your risk. Is this a paper (unrealized) loss or a realized loss? Has the company fundamentals changed? What company are we talking about? If the company is a leader in its industry, you may be able to ride it out over some time if you did not sell. It's hard to suggest anything because I have no clue what company we are talking about?
3. If you are not able to sleep at night then you should not be doing what you are doing.
4. Seek a professional with 10+ years experience to help you with an over all investment strategy.
5. If you sold at a loss, the 30K loss is deductible against current and future gains as long as you don't buy back the stock within 30 days - "wash rule." See your CPA for help on how to take losses on stocks.
6. Sorry to hear about this. It happens. Good Luck. |
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Alan
|
You are just going to have to accept what is. You made a mistake or a series of mistakes. Dale Carnegie used to have a three step process for getting rid of worry...stating what the worst that could happen was, accepting that, and then seeing what you can do to improve on it. In this case, the worst has already happened, you lost $30,000. You need to accept it, and then just not do it again. Time heals all wounds. The alternative would be to go and try and win it back, and while that may work, it could also make things a lot worse. |
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richard t
 |
don't daytrade till you know what your doing...............pick up a couple of books.take a course( I assume you went technical)........paper trade for a year or so....check your failures,,,,,,,,,,,,,,,,,hedge.,,,,stop limits...........options........don't use margin................. |
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jack k
|
Suck it up!!!!!!!! If you can't deal with the potential of losing, put your money in municipal bonds or cds'.
Went BROKE twice playing the market. 22 years of investing, all bye bye. Boo Hoo me.LOL |
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Ervin S
 |
I also have lost due to many mistakes. One thing I learned is to only buy good stocks, ones that have a good earnings record. Also to use stops at .08 percent to limit losses. Don't buy stocks under $10 and don't buy any that have volumes less than one million. Also don't follow bad advice that you get from the pimp and dump artists. |
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A nobody
 |
A $30,000 lost is no big deal, as long as $430,000 wasn't 100% of your investing capital.
If the 430 was 100% of you investing capital and you had it all in the market you're a schmuck.
If the 430 was what you had invested, and you lost the 30, just keep trading it's only a 7% loss. Mathematically you should be ok.
Remember you only need 60% of your trades to be profitable and you can make a very good living.
What do you need to trade and/or invest in the market?
1 - A written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself.
2 - Sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you trade/invest.
3 - A written money management program in place. Remember never invest 100% of your capital into any one security.
4 – A full and complete understanding of the rules & regulations of the industry.
It seems you have none of the above, so you lost this time, if you don't have a plan and money management you're going to loose again, and again.
If the loss bothers you that much, you should not be trading, if you going to play in the big leagues, learn to play like the big boys do.
NEVER let emotions dictate to your trading, if you do, you'll loose again. You have to learn to trade without emotions
Just bit the bullet, you cann't change what happend, but you can learn from it. Get a plan together and follow it,
Good luck |
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piet lul
|
sell short. |
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Yam King 7
|
Well, You still have 400 left.
Maybe you could put that in a safer place like CD's which are 5% now. |
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loyalove2006
|
I never lost in the market since i join forex asset managed account, maybe you can try it , so far i'm satisfied with their performance,their minimum to join is 50K |
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Big Bully
|
Like the homeowners who are losing their homes , ask the government to help you out. |
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thebigm57
|
If I had $400k I'd have a professional taking care of my investing for me. I don't and I still have a CFP that handles my IRA and other investments. Seek a quality Certified Financial Planner and let him/her manage your funds. If you don't care to do that than place all the money in a managed account like Northwest Quadrant or GE Money Management. Finally, I'd put all the money into First Eagle Global fund which just reopened to new investment recently. They've been very, very good to my wife and I. |
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Investment A
|
Hello,
Allot of people have the same problem as you are experiencing, a good amount of money but don't know where to place it.
I have to confess I was also one of those people.
Until I actively started searching for a good investment opportunity.
And I'm glad to tell you I finally found one that is working out great for me.
It's a mannaged account run by a verry capable man.
if you want you can check out the results he has made.
Here you can check them out:
http://my-robottrader.blogspot.com/
My money is working for me, in three months time I already have a ROI of 104%.
If you want a good place for your money to grow then I can only advice you to take contact with my moneymanager.
just send me a mail to derrekmay @ gmail.com, and then I'll bring you in direct contact with him.
I hope this answer has helped you out. |
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Randall Parker, MBA
|
If you can't handle the bad days, then stop day trading. Day trading is as risky an endeavor as you can find in the stock market.
If you really want to lose money in a hurry, you can always try commodities.
While you won't necessarily have huge returns, you might consider mutual funds, as they are less risky. There are other ways to get significant returns.
It is possible to get as much as 18% fixed annual rate of return, if you know where to look.
Determine your risk tolerance and how much of your cash you are willing to lose. If you insist on speculating, don't wager money that you cannot afford to lose. Investing shouldn't keep you from sleeping at night.
Good luck! |
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Corporate Mom
|
next time you want to throw some money away throw some at me. |
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Dual String Finance
|
Don't let it get you down! The market is really low right now and is very likely to get better if you have time to weather the storm. Stocks are best left to long-term investors, not day traders. On good days, you could gain $60k.
Here is my overly simplified advice: If you are below 40, keep your money where it is and wait it out. If you are between 40 and 60, take between 50 and 80 percent of that money out of the market and put it into bonds, cd's, or some other form of stable capital funds. If you are over 60, put at 75 to 90 percent of that money in stable funds. |
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syalam
|
do not sell at a loss, unless you are in a situation where you need the money. let the market even itself out over time. if you withdraw at a loss, put your money into safer alternatives like a CD or high yield savings account. |
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