Viewing a single comment thread. View all comments

JDmexican_92 OP t1_iyexi5g wrote

Reply to comment by ShroomingMantis in $20k to $300 by JDmexican_92

I was mostly basing it off what I was hearing from the meeting today and how J Powell was saying that they weren't looking to slow down yet because they've seen before what early easement does. How they will remain persistent and how it looks like inflation isn't quite under control to their liking, and definitely felt like bearish sentiment. Plus the massive spikes occurring before the meeting even started on top of more spikes as he was making the statements, it just felt completely illogical that the prices were going so parabolic. So I would buy more each time, especially since this exact scenario occurred last time. Only it didn't crash the same way after the meeting concluded.

Now I'm just gonna need to sit out for a long while until I can save some money on the side to start putting back into my account. By then, who knows how the markets will have changed. I guess I'll just be an observer in the meantime.

4

ShroomingMantis t1_iyey85r wrote

Ya betting on Fundemental catalyst events is one of your highest risk scenarios if you aren't capping your risk tight, arbitrarily, increasing the chance of taking that loss by alot.

My advice, homie, is to hop in a simulator while you save money, and practice building a legit system that protects your capital and still offers upside.

Ik it's gonna take a long time to fully process the losses, but don't beat yourself up. Its a common mistake that good traders can make when they aren't fully aware. Most ppl who short, learn this lesson this exact way, its just a matter of how much you pay up.

Good luck dude, don't give up on yourself, no matter what.

8