Search This Blog

Tuesday, March 12, 2013

One of my greatest mistakes in business cost about $200k.

I was trading full time (commodities).

I was trading Japanese Yen futures, which I had no business trading. But I thought I was "touched" by the financial Gods, because of such a long winning streak.

The trade went against me....immediately and at the speed of light.

I liquidated all of my positions. And then went short (because the market was plummeting), and started making money. I tripled my positions, and the market went against me again (surging).

I was shell shocked for two weeks. I had lost half of my business and capital in less than three days.

Wow. It still bugs me.

But.....there was a lesson. Billionaire traders do not jump from one market to the next. They specialize.

Marc Charles

Check out my books on Amazon

No comments:

Post a Comment