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I have dabbled many times over the last 20 years in trading and even done it rather professionally. There is no easy way to handle a loss. Take comfort in the s
by andriesm 9y ago
I have dabbled many times over the last 20 years in trading and even done it rather professionally. There is no easy way to handle a loss. Take comfort in the story of a Ray Dario having lost everything to the point of borrowing 10k from his dad to get back on his feet and now managing 10s of billions.
Trading is a really hard way to make money.
The best way to bounce back from a loss is to make sure you will never ever place yourself in the position to make the kind of loss from which you can't recover.
You did this, now never ever do it again. There is no sense in trading unless you have a provable long term edge.
Most people would say good luck at this point. I would instead say, re-evaluate if trading makes any sense. Why do it?
Are you willing to spend 20 years "mastering it" only to accept one almost never truly masters the strangeness of financial markets, but perhaps develop a bit of character and pick up some sound principles and some unique chance insights for which there are no shortcuts.
- deleted 9y ago[deleted]
- h1d 9y agoWhen you learn index funds aren't any worse than actively managed funds, you realize no matter how much you learn, it's nothing. It's better to learn how to handle losses psychologically and just find something worthy and wait on it in the long run.
- tedmiston 9y agoIt's certainly a personal risk tolerance decision as well balancing high-risk individual trades with indexing.