Great post Luke. So many of us investor have been in the same position. It's my hardest thing to do in the commodities market. Accepting I've been wrong and just take the loss. I find it very upsetting and often just sit on it and turn the short term trade into a long term loss. Often it eventually turns around, but it's not the way to go. Then you have that vomit point I've heard investors talk about. The market has gone down so hard for so long, it's the point that makes the investor want to puke and they finally sell!
That vomit point also can often mark the bottom, and that's the worst when you sell at the bottom and the market turns around. I hope that isn't the scenario that plays out with your trade.
I used to trade more often, but I found it all too stressful. Now I'm a long term investor kind of guy. To help give your mind a break from this kind of stuff, have you seen my latest post of the morning market in Luang Prabang Laos. It's some crazy stuff. Everything from live eel to live duck, even insects are on the menu here. It was a great cultural experience I'm happy I can share here on Steemit.
Hope you've been well. Happy to check in with you and keep up the great work as a witness!
-Dan
Hah! I haven't heard of the vomit point. Thankfully, I don't get too emotionally wrapped up in this stuff. If I let go of one thing, I often win on something else (as I'm so far doing with SmartCash).
Thanks for the reminder, I'll check out you post.