Got SMOKED, RIPPED A NEW ONE, DRAWN AND QUARTERED, POUNDED, hyperboles seem not to be enough in describing the 15% drop of GSS today and the ass-kicking I took.
Lessons:
1) Don't fall in love with any stock, and put it on a pedestal and have big dreams about it. Trade on realities, not on ideas of rainbows and pots of golds.
2) Set stops. I could have set stops many times with a less than 1k loss. Set stops at major trend breaks, pivot points after confirmations.
3) Don't trade on wishes and dreams. Trade on reality, facts, and probabilities.
4) Before crucial earning days, if you are holding big long positions, invest in some puts before earnings, such as 1-2k worth of puts. HEDGING is smart, and hedge smartly!!!
5) Don't trust just only the people who have the same bias as you do on message boards or anywhere else for that matter.
6) Must get better at charting, and reading price action.
7) Must do more fundamental analysis.
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