My 2020 Trade Review
I started 2020 with moderate experience in the market with a strong fundamental background for capital markets through the ”formal” method of education by licensing. from january to february 28th, I experienced immense gains via $Beyond Meat(BYND.US$ $Tesla(TSLA.US$ $Virgin Galactic(SPCE.US$ and oil etfs.
Then the crash started happening. I went from 12k to 2k in 3 trades. Took a break (really ran away from my losses) for a bit and jumped back into leverage weighted etfs like $ProShares Ultra VIX Short-Term Futures ETF(UVXY.US$ and $VelocityShares Daily 2x VIX Short Term ETN(TVIX.US$ . Out of pure luck, I turned that 2k into 8k in a week.
This part of the story shows what happens when a trader ignores risk management and relies on luck.
then march 3rd and 4th comes around and Robinhood has “technical difficulties” that locked all traders out of the platform. i watch as my 8k turned into 1750 theoughoht the day. Months later, robinhood graciously offered me 75$ for the inconvenience.
However, now its march 8th and the markets are bleeding.
I am able to turn my then 1750 into 21k buy trading puts on $Boeing(BA.US$ from its price of $354 all the way down to 88$.
This is the part of the story where the trader feels he cant lose.
its the end of march and im sitting at a comofrtable balance of around 50k with margin. I have all this money, ive been winning so far (by throwing random darts), dont fix what isnt broken right?
I proceed to lose 15k in the span of 5minutes on 1 UVXY call.
this effectively brought my balance down not just 15k but also an additional 10k due to robinhood margin rules whoch also flagged me as a pattern day trader.
this was a hard pill to swallow as I was a financial advisor and that pride had crippled my ability to actively learn about what I was doing.
This trade crushed me and happened at the end of march.
throghout april-late may, i slowly huiltbup my account with pre market biotech runners and bankruptcy plays intil bullsing my account back up to a healthy 5.5k.
Then $Sorrento Therapeutics Inc(SRNE.US$ happened.
I initially made about 3k on the fiest rally and the next day i hopped back in with the majority of my portfolio only to watch my entire portofolio drop as srne fell from 21$ to 11$ in half a day.
This is where the trader learned its best not to fight the trend and especially short seller reports.
Fast forward to december, I know longer trade on my own emotion, have a 96% win rate over the last 2 months for options and stocks, and have learned enough about myself throigh the trials and tribulations of 2020 to sum the year up in one phrase;
Do Not Be Greedy.
Lets make 2021 the year if the retail trader!!
@TeamMoomoo @Treydon Gui @finance_analyst @knowledgeispowerful @KnowledgeIsPower @Moomoo Lily @moo_Live
Then the crash started happening. I went from 12k to 2k in 3 trades. Took a break (really ran away from my losses) for a bit and jumped back into leverage weighted etfs like $ProShares Ultra VIX Short-Term Futures ETF(UVXY.US$ and $VelocityShares Daily 2x VIX Short Term ETN(TVIX.US$ . Out of pure luck, I turned that 2k into 8k in a week.
This part of the story shows what happens when a trader ignores risk management and relies on luck.
then march 3rd and 4th comes around and Robinhood has “technical difficulties” that locked all traders out of the platform. i watch as my 8k turned into 1750 theoughoht the day. Months later, robinhood graciously offered me 75$ for the inconvenience.
However, now its march 8th and the markets are bleeding.
I am able to turn my then 1750 into 21k buy trading puts on $Boeing(BA.US$ from its price of $354 all the way down to 88$.
This is the part of the story where the trader feels he cant lose.
its the end of march and im sitting at a comofrtable balance of around 50k with margin. I have all this money, ive been winning so far (by throwing random darts), dont fix what isnt broken right?
I proceed to lose 15k in the span of 5minutes on 1 UVXY call.
this effectively brought my balance down not just 15k but also an additional 10k due to robinhood margin rules whoch also flagged me as a pattern day trader.
this was a hard pill to swallow as I was a financial advisor and that pride had crippled my ability to actively learn about what I was doing.
This trade crushed me and happened at the end of march.
throghout april-late may, i slowly huiltbup my account with pre market biotech runners and bankruptcy plays intil bullsing my account back up to a healthy 5.5k.
Then $Sorrento Therapeutics Inc(SRNE.US$ happened.
I initially made about 3k on the fiest rally and the next day i hopped back in with the majority of my portfolio only to watch my entire portofolio drop as srne fell from 21$ to 11$ in half a day.
This is where the trader learned its best not to fight the trend and especially short seller reports.
Fast forward to december, I know longer trade on my own emotion, have a 96% win rate over the last 2 months for options and stocks, and have learned enough about myself throigh the trials and tribulations of 2020 to sum the year up in one phrase;
Do Not Be Greedy.
Lets make 2021 the year if the retail trader!!
@TeamMoomoo @Treydon Gui @finance_analyst @knowledgeispowerful @KnowledgeIsPower @Moomoo Lily @moo_Live
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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OFFICER TRUTHOP :
treydongui OFFICER TRUTHOP: appreciate your integrity and honesty and I appreciate that you were a part of my 2020 thanks buddy. here's to kicking ass in the markets in 2021.....
treydongui : by the way nice post. I might not even join this one with this stiff competition
State Stefan : Great story! We should really avoid emotional trading
Amabel : thanks for sharing ! learn a lot
Charles : Nice sharing! Your 2020 in Review is FANTASTIC!
70787162 : hi dear, friend, valid code what's numbers question let's me know okay
leboy92 : Great message thank you alot
71231816 : ok , I need a coach!