After i lost my job as tech support in a small company
in 2000, i stepped into US stock market. I opened one account at etrade. After gaining a profit of $3000
in my first trade in 3 days with only $9000 invesment,
i though i could make a much better life from trading
stocks. Thereafter, i gave up looking for jobs and
gradually pulling money out of my saving accounts.
I had no TA or FA concepts by that time and only
traded stocks based on my feeling. That's the beginning of my terrible trading life.
I must say that i am a very agreesive and lack of
patent, which is bad for a trader. Sometimes i could
make a home-run winnning (one day big gain up to $100K,
and the other day lost back all, such type of trader),
but most of time i lost and let the bad trade to ruin
my account. By the time of spring of 2002, both my
day trading account and long term account were wiped
out with a loss of my hard-earned money of $220K.
Then i had to back to the job market. As you know, the
job market was terrible I spent 3 months for nothing.
I could not afford the mortgage and then sold my little
house. With my last $150K equalty and started trading
stock again. Although i red a lot of stock trading
books, i think my mindset got confused my the bear
market and the determined to short the market from
the fall of 2002. I exactly did against the market,
which was starting to enter the beginning of the bull
market by the end of 2002. Although i made a little
money here and there, but i lost big time on shorting
ebay and AMAZON. So in 2003, i almost didn't make
money. When i completely turn to bull from the end
of last year, the market entered the voilatile
side way. My $160K account from the beginning of this
year only remain around 50K right now, part of which
is loan from my 0% interest credit card.
Just these two weeks alon, i lost almost 30-40%
of the value.My life end up being screwed up already.
Talking about the stock market, i think i not only
spend lots of time to study the market, which made
life miserable, but also read many books about trading.
But i just can not figure out the right way to do it.
My heart strongly tell me to give up the trading and
stay far away from it, but i am not willing to become
a forever big loser by now. Maybe some people such
as me were born not to be trading stock.
My conclusion is that if you have tried very hard
on something but still failed, then you had better
try something else.
