Guys, I held financials (BCS,BAC), average cost just above $3 up until recently and sold both for a small profit to take a ride on FAZ. Now instead of huge gains, I am facing huge losses, and that is how I've been trading for the past 4 months. Absolutely no luck and huge losses. I don't know, I am just an idiot. Hate my self like never before
Never said "you are stupid" to yourself. Self-insulting is the last thing you would want to do to yourself. Beside money, self-confidence is the only thing could help you through this rough market. Hang in there, it would get better; don't forget to smile .
Market needs to retrace some, at least. The banks stocks need to breath so be patient with FAZ . Buy later on retrace.
I'm sorry for your loss. Bank stocks have been up over 100% so quickly...
orest_1999 Try not to feel bad. Many of us have been in your shoes. I lost $11K on BAC last month in the time it takes to sneeze (almost). I got nervous and bailed. Three days later, BAC climbed back up over my entry point.
I would hold FAZ. Good luck!!
orest_1999, don't feel bad!! i'm exactly on the same boat as you. i've traded wrong sooo many times since Feb. when i can get out of FAZ, i'll take a break for a while.
it's not you, it's the crazy market. good news become bad, bad news become good. we just never know.
hang in there.
I made the same mistake as you did for the past 3 months. Instead of BAC, I sold C for small profit and bought FAZ. Huge profit turn to huge loss.
I have been wrong for 5 times in a row.
I just bought FAZ last friday and I know I will win big this time. No pain No gain.