Matt Monaco is reflecting after an overnight offering resulted in a loss on $FAMI. How do you reflect after a trade gone wrong?
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⭐️ Check out the SteadyTrade Team: https://StocksToTrade.com/steadytrade-team
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⚠️ (**Results not typical or guaranteed. Past performance is not indicative of future returns and financial investing is inherently risky.)
What's up everyone in my kitchen minute, tip monday, i'm going to talk about this biggest loss, i've taken in a long time on fami f-a-m-i. I was long it over the weekend. They did an offering so mint monday is about reflecting on your losses. Learning from them making sure those losses aren't repeatable, aren't as bad as they could be.
Some people would rage and spiral. Trust me. I've been there. I've done that, but now i've learned like today.
I basically just locked in the loss on family accepted it moved on and i'm gon na learn from it. I didn't try to force myself to get green. That's a huge mistake. A ton of people make i'm just gon na learn from it like it was overall dumb trade could have been a lot worse.
That get down was massive, but i had relatively small size, so i minimized it um. But what are you gon na do to learn from the loss you've had recently to make sure that loss doesn't happen to minimize any future. You know black swan event like that's trading risk management right there, that's the key, so leave a comment.
What exactly can you learn from an offering. It’s not like you can know when they’re coming. How about don’t swing pennies in offering season.
Thank you Matt
been adapting my risk reward stance, use to set based on % and try to enter off support, finding my support technical analysis needs much work. so have adjusted to select based on $ values, risk 20/30 goal 60/100..then figure out ok if i enter here and risk lod how many shares can i buy…..mind set shift… starting to see how this can also set up for ok here is end game goal, can lock in some profits along the way, size more in, reduce risk….
Last Tuesday I was up 900 and turned it into a big nasty losing day because I over traded and didn't follow rule number 1 " cut your losses quickly" so I suspended myself for a month and am paper trading with an account the same size as mine until I trust myself to eliminate my bad habits
I absolutely appreciate you guys talking about your losses like you do. It's helpful to me as a rookie trader in so many ways.
Great video thanks for the insights appreciate the time you put into making these videos. My problem is overtrading forcing trades not being disciplined and not waiting for the five minute set up another words I need to see the five minute close at a new high with record volume for the day. I got FOMO today was up $580 gave back because I didn’t wait I was impatient finish the day at 245 bucks which is my average daily win
Great advice Matt thanks
Pondering… I would worry less about the black swan but always evaluate where I could have improved or what I did not see.
Is it fair to say FAMI is just a crap stock to avoid forever (read: forseable future)? They just did an offering 5 months ago, so…. i'm not qualified to pass judgement like this, but — 2 share offerings this year — wtf –thoughts anyone?
lost 4k a few weeks ago on SPRT, was in to big of size and there was a massive gap down around idk like 1:30pm where it just tanked over 30min, i was only in bc of FOMO, didnt have a game plan which was STUPID of me, thought i would hop in skim a couple hundred and be out fast, got in and of course my luck it just started dropping. I kept waiting and waiting for it to bounce but nope never did, should of cut my losses faster but i did the ole hold and pray -_-. Anyway a mistake i have learned from and WONT make again.
I liked that emphasis light beating chest "I've been there…I've done that"
Amen man it happens