Trader who loses money on a series of trades. Perhaps the idea underlying the trades was wrong; perhaps the idea was correct, but the market responded to a different set of drivers. Upon taking the losses, the trader becomes increasingly frustrated and angry. He--very often in the trading world it's a he, and we'll see why that's significant--first reacts out of the frustration by putting on even more trades, this time less well thought-out. As those go into the red as well, his attitude becomes "F*** it" and he adds to his positions. Finally the whole lot goes against him and he is forced to take a devastating loss. Anger and frustration boiling over, he now turns against himself, telling himself how "stupid" he is, how he is such a "loser", and how he will never succeed. "TRUE" Lesson
"KALY'
VLDI/TWER
MISSED BIG MONEY 'DOLV selling @0004 MYDX@0015 MJTK@002 VGID
