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The email notification doesn't mention this until the end, so we're happy it weren't you.
Two things I took away from the American 2016 presidential election:
1. There is no fundamental story to correlate an election's result to markets.
2. Election results have less meaning than we think. At least for a two year period. Large complex economies have more momentum than we think.
Just remembered it will not help to trade small size either. 2018 i set up portfolio at my brothers home. He got a friend that later wanted to trade it so I said okey no problem and set up a copier ( for free of course). After a couple of months I noticed that there was trades on His account that was not from my portfolio. I told my brother to tell Him to stop because He would loose his 5 k guaranteed. He did stop for avail but had actually made 1 k in profit so now He thought this was easy and started again. 2 weeks later all his money was gone wile that portfolio today is + 40 %.
He added to his losers which i think is the biggest mistake newbies do. I have done it as well.
I do not post too often here because I am still quite busy.
Also, I thought I would give it some time from your original post . . . wanted to make sure you did not blow your brains out and not be in a position to respond to me.
I am sorry to hear of your loss.
On the other hand I know that before you lies an amazing opportunity. You have mastered the first step to becoming a world class trader, I kid you not. Hundreds of others here will proffer you advice as to how they "NEVER LOST IT ALL" and how you should have used a stop and all that bull crap.
They are offering advice as if they knew it all in the beginning because it is not genuine advice. It is all "LOOK BACK AT WHAT YOU SHOULD NOT HAVE DONE."
Trust me that does not help.
Take if from a person who when starting out over 30 years ago has had to "refund my account,' probably a record
24 times during my first 5 years.
Guess what?
Still cost me less than a 2 year attendance at the Wharton school of business.
10 years later, when I made my first TRUE LUXURY purchase with profits earned from this amazing business we call trading, I looked back at the account blow outs as nothing more than tuition.
The first thing that amateurs do when they blow out an account is to work to "build that account up again."
Of course they lose it all again.
They do not think that they should "learn to trade successfully first" before ever putting ten cents back into the markets.
Consider this:
Instead of giving FREE ADVICE online to hundreds of ungrateful individuals, think about starting your own trading education service.
Charge people a reasonable fee for newbies to learn what NOT TO DO IN THE BEGINNING. Instead of coming from
the hundreds of the SUPER DUPER I AM THE RICHEST AND BEST TRADER ON EARTH LEARN TO DO IT MY WAY trading room, how about "Learn not to lose" trading advice service.
Hey @TheBenefactor, your post was really interesting.... do you have some recomendations about thinks to avoid at the beginning? I have blown up a couple of accounts, in the last two years and now I am slowly recovering, above all psycologically. I am really interested in any story/advice material from someone who has some real experience.... some real stories to tell.
That's really interesting - never knew that. Do you have a link to where that information is published? We should do the same thing in the U.S. - including the prop firms who solicit traders to become prop traders.
