Also, I took a huge gamble by taking out 100k it was due to anger and frustration in losing so much. In fact it was like to me do or die when I took this risk back in March. I wouldn't recommend maxing out your credit card. Although I'm up now but I can tell you there were two times since March I've lost almost 50% then luckly I recovered. But those two times I thought to myself, "here we go again...more losses." It was heartbreaking but I don't know how I made it back and more.
Nice job! Yes I'm speaking the truth. The reason I'm sharing this is that I've been a loser all along until this March. In fact, I've lost about 350k since year 2000, it just kept adding up so I've been writing off 3k per year and even I've made 700k it's really only 300k profit because I need to subtract 100k I borrowed and the 350k I lost that's total of 450k I need to subtract from 750k. I am making this public to guys like you so that you have some positive faiith in the market. I used to believe or actually everyone will tell you that you can't beat the market just like you can't beat the casino unless you stay put for long term and hope for the best and make possibly 10% in 20 years or so. And they will tell you that trading is for losers but there are many people out there making huge money trading and NOT letting anyone know about it. So it's good share and also good to share your mistakes like I have with TSlA recently. Keep in touch and let me know how you're doing. What are you trading, stocks or options?
One of the ways to beat the market is to anticipate when the market is changing direction. I wrote on Nov 2 nd that all is good but on Nov 4th I also wrote that Market is struggling so I bought some puts and sold today at some profit. I will assess the market again next week.
Sorry I'm just an everyday Joe trading in the stock market trying to turn my 100k into one million before the end of this year. How are you doing?
If you're a long term holder then it might work out for you that is if yo have 10 years or more. I personally don't have that luxury or not willing to wait that long. Good luck.
To those who are curious about my trading: I'm always looking to make money during down markets. I have protected myself since Nov 4th of last week in which I have posted on this board. Even like today I'm up 9.6% all because I was ready for this kind of market. Good luck.
Good luck all.
Do you trade Options? I don't think they allow margins on Options, at least not TdAmeritrade