I liquidated all my brokeage account positions today. I took a $150K loss in less than two weeks. In the past two week I felt like a total wreck and could not focus on anything. My wife was understanding about my loss and simply suggested me to pull out when my loss was $100K, without blaming me. Instead of taking her advice, I gambled for 1 more week and lost another $50K. Now I feel totally useless and helpless after all my hard savings are gone. This is a badly manipulated market and our odds are worse than Vegas, not to mention commission cost on top. So I urge you, no matter you are making money or losing money (I was once up 140% in my account), stay away from the market or at least from these leveraged ETFs cause they will one day eat you alive.
peace to you pinke66,
i myself have lost closer to 200K over the last 2 years.
and i have come to a place of peace about it.
after all, it's only money.
glad to hear you have an understanding wife.
that's more valuable than any amount of money.
If it helps any, pretend none of it matters anyways.
It's the things money can't buy that matter most.
Brocade took my entire portfolio years ago....
Cramer was boosting the company up with the "secret" Money Managers in the know.
Today, I have almost completely collapsed to nothing.... But I don't mind.
I've got life and a sense of humor. It's quite nice being without the pressure.
Regards to all and Brace Yourselves!
Yup, this market cannot be read, because it is pure manipulation. My feeling is that the banksters are down big time on all the subprime mess and now Europe, so now they must move the market in ways no logical person would expect, so as to make huge profits to stay afloat. I think the FED is very complicite in this and knows they have to let these bankster continue to play their evil games or they are broken and so is the whole house of cards that our financial system has become. I think within two years the public in general well get as far away from the stock market and mutual funds as they possibly can as word is getting out that this whole thing is nothing but a bunko scheme.
those triple's are deadly
faz is a trend vehicle
i made a lot on faz during the collapse
it will come backthe thing is,never ever anticipate a trend with a triple etf
wait for clear signsyou can do it with a regular etf like dog or sh but not in triple's
Perfect! Everyone here has been loosing money...feeling pretty crappy about now. NOW is the time to step in the game and play. I've been in BAC now for the past 2 months. I'm officially on board FAZ. If you're still in, hold steady. This thing is ready for a nice bounce. The economy isn't getting any better...
Well Let's see here? Economy not getting any worse either and Fed Reserve Bernake keeping rates low for awhile longer.....hmmmmm
I got out @ 16.00 after buying in @ 16.86 what was I thinking? oh yes that the economy and housing is still suckin.
But I saw my mistake and admitted my timing was off for awhile on FAZ and the direction of the market. Hated to take a loss but I saw it would get worse.
Correction in market will happen but when the bigger drop comes?? I will try to time it better. I learn something form wins and losses and I learned to admit I'm not always right and my timing can be off too and that swalling false pride and gatting out is OK
Preserve yuour capital to trade another day and another stock.
You should not be trading such large positions,particularly in such a volatile ETF.
Spend some time studying how to trade,particularly the rules of "capital preservation".
As a rule of thumb-
-Invest no more than 10% of your available capital on any one trade.
- Place a 10% sell stop under your buy price.
- The maximum loss risk to your total portfolio value would therefore be 1%.
Total portfolio value - 100K
Total invested in any one trade - 10K
10% of 10K = 1K
Never allow any single trade to do more damage than that.