So....My Eldest Son been trading alot, been getting into this insane game, learning that options is a con game and been trading the futures of late - He been jumping the Micros on
#NQ_F and was doing Brilliantly until....yesterday😃
I let him hang himself.....hes been doing the scalp strategy where if it gets too overbought or over sold he jumps in and goes size. I told him there is going to be a point where that oversold or over bought is going to get even more oversold and over bought. He said meh....it "always" reverses.
So ...3 weeks of awesome gains (and I mean he was making some really good bank) was vaporized and a good chunk of his original capital.
He was like...I never seen 7 bars off the 30 min go one way. I'm like welcome to Hell....You learned your first lesson....you are not as smart or smarter than the market. You had no respect for the market and this is how it humbles you. Also.....8 months of real experience does not make you an expert.....many more traps to hunt you and you will feel pain (his face went blank). As my many mentors told me - STFU and learn, best way to learn is the hard way and hopefully you learned something today.
#Trading