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I tried trading stocks with lots of negative personal biases that caused me to take poor risks. Year after year I lost money, and was close to giving up. Then
by nicholas73 9y ago
I tried trading stocks with lots of negative personal biases that caused me to take poor risks. Year after year I lost money, and was close to giving up. Then oil prices collapsed and a year later I stumbled upon that fact (lucky me). I remembered economics class from over ten years ago (price elasticity and marginal cost) and it helped me recover financially by guiding my trading plan and giving me conviction. I had borrowed heavily and was about to quit in debt, but that last hurrah took me back where now I probably will be profitable. With a bankroll and solved emotional baggages I think I can win consistently. Ironically I don't have as much desire to do so anymore, and am building tools for others to use.
The lesson isn't to make a last hurrah but wait for the right moments. It was a ridiculous moment to buy in retrospect, but also was super stressful. Lately I noticed the hair loss...