Loading ...Trader Dan’s World
They Did it Again
Having been the victim of my own stupidity in my earlier trading career and pulled stunts like this – namely – when I just “knew” everyone else was wrong, wrong, wrong, and I was right, right, right, and kept buying breaks in bear markets and/or selling rallies in bull markets, I can tell you from firsthand experience that if you ever want to experience despair in the manner in which it absolutely consumes you in every aspect of your life, just go ahead and try to be a hero and stand in front of a market that could care less about how many corpses it leaves in its path. The knowledge that with the passing of yet another trading session, you are losing more and more and more of your money is devastating psychologically.
There are many in the crude oil market right now that are getting a firsthand taste of the power of leverage to obliterate you. Sadly, some will learn the lesson but at the expense of a trading career.
What is the lesson? Simple! – don’t fight the tape – you will never win!”