Back in March 2013 earlier this year, I longed 2000 lots of YHM and made $4492.30 losses on YHM because I made a mistake of chasing on the breakout.
http://stockmarketmindgames.blogspot.sg/2013/03/yhm-contra-loss.html
http://stockmarketmindgames.blogspot.sg/2013/03/yhm-small-loss.html
As humans, we can only do our best to reduce mistakes but not eliminate it 100% because all human have emotions, fear, greed, hope, etc. The point was yes, I made a mistake, but I was able to react fast and cut loss at 2 pips. Longed at 0.044 and cut at 0.042 and there after the stock crashed to 0.037! And so I averted the heavy selling and suffered only bruises instead of reaction. Of course, I took revenge in May 2013 and recovered everything in this stock where I made a come back recovery by making $18000.
http://stockmarketmindgames.blogspot.sg/2013/05/yhm-curated-18000-sgd-trade.html
http://stockmarketmindgames.blogspot.sg/2013/05/yhm-18000-sgd-profits-deposited.html
Morale of story is learn to cut loss quick when you committed a mistake. Don't hope, pray for a turn around or brood over the losses. Move on because some other counters out there are waiting for you. As long as you live one day and have the tenacious fighting spirit, there will be another day for revenge and recovery.
Ronald K - Market Psychologist - The Big Speculator
