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How Bad Losses Can Effect Future Trades... And What To Do About It
The Trader's Mindchat Show
English - April 16, 2023 11:32 - 36 minutes - 33.4 MB - ★★★★★ - 2 ratingsInvesting Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Mark was kind enough to follow up with me regarding yesterday's live stream. What prompted the question of tightening up risk or taking smaller sizes had stemmed from a great trade that soured in a hurry... The trade was in CPRX.
Many growth and momentum traders (myself included) were in CPRX in January. After a strong move up, it gapped down 11% on Jan 23 and at one point during the session, was down about 36%.
Losses like these can hurt and if we're not aware, can affect future trades. If we tweak our rules, management, beliefs, and performance intentionally, changes can help. If not, we can take a good system and mess it up.
We talk about all of this on today's show.
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