you cannot make major decisions right now... with half your account still available you still have time for recovery. But you are not thinking good right now. Stocks right now are definitely not a safer alternative...Until Oil settles down stocks you think are good fall out from under you at least that is happening to me right now.
Let the markets settle down... let you settle down.... when you are ready then study why you went wrong .... make a few pretend trades and as you gain confidence re-enter.
chill out for now though is my advice....good luck
The following user says Thank You to Underexposed for this post:
To have been profitably trading for 10 years is a great achievement in itself. I agree with what the other guys are saying... take some time out and let your mind clear, then see what led to the large loss and take steps to preventing it from happening again. Its not over. If you get back into trading I would recommend having a daily loss limit and sticking to it.
This post has been selected as an answer to the original posters question
Have you been paying yourself over the last ten years from your trading account? If yes then the loss is much less of an issue. If no then trading was just a hobby, and hobbies can be expensive.
Your wife will understand assuming you provide for your family responsibly.
Sent from my phone
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following 6 users say Thank You to Big Mike for this post:
I withdrew when needed but my %99 of investment was in that account.
I will write how I lost it but I can not post links it seems. Will tell you. My strategy is like this: I opt for tight stop and a few times of the stop loss amount for profit target. I use high leverage for this purpose. Daytrading mostly using pivot levels. Very rare I carry to other day. It was a really quiet day. I entered my position and I was thinking I already put my stop also but I was wrong. I forgot or some other things boggling my mind at that time. Market got a huge averse move after my position and next day dropped more. When I checked my account stop loss wasnt there. The other one was revenge trade. Not hard to guess how it ended.
I will not mention her about this. I do not want her to be worried.