TAKING ON TOO Much risk -$2340 YVR

It Always sucks having to describe a huge loss in the market but they are bound to happen!! Yesterday I placed a big trade in YVR. A couple of things happened that led up to such a big loss and I will describe them both here in the blog and in the YouTube Video above!

I got into YVR pre market and was actually in the profit for a whole there but decided to hold on to this position to avoid missing out on todays trading ( the PDT). What I did not consider was due to my overleveraging into this position, I basically opened up a major risk position! on the open the Stock Skyrocketed pushing my account into the negative – not a problem as I have sat through instances like that before – but in this situation I was in this position so heavy short that the broker decided I needed to liquidate that position and proceeded to do so. This left me with a negative trading day in the sum of -$2340. (OUCH). But the Broker did what they were supposed to do and in retrospect the trade was on me.

In the future I will not go so heavy into positions that are a little bit too risky for my account because that loss hurt. I lost 45% of my overall trading profits in this account in that trade and it will be a long Grind to get back to that point. All in All, its just another day in the markets and just a bump in the Road to 25K.

Published by Eric Jobb

Hello everyone, my name is Eric and I am the founder of TheFreedomGrind. I love to trade stocks and futures, It's my passion, and I will never go back. I have taken time, money, and energy learning the market. There is no secret trick, no gimmick that will get you closer to being profitable. It will take time, money, and energy to make gains as a day trader. I created the blog and the YouTube channel to provide as much useful information about trading to anyone who has the desire to become a trader.

Leave a Reply


%d bloggers like this: