/biz/ - Business & Finance

I lost $10,518 buying the dip on Tesla in one week.
I first bought 200 shares on 12/21 at $138.46
after being immediately wrong, I doubled down at $130.53, for an average of $134.495
I then proceeded to ignore every warning sign, every trading rule, my entire trading system, for a week.
I did not practice risk management. I did not cut the loss when it was only a
>$200 loss
>$2,000 loss
>$4,000 loss
>$10,000 loss
I had so many opportunities to bail out, admit I was wrong. I did not take them. I insisted that "there's no possible way it makes another leg down here" when there was only bad news after bad news.
I convinced myself that it was oversold, and that surely the next day would be the bounce. That surely it would rebound - not expecting to make back the losses, but at least half of the losses. It just kept falling. And falling. And falling.
I have taken the loss. I have capitulated.
I am still up more than 60% on the year. It could be worse. I could be down on the year. But this was pretty fucking terrible. The loss, but mainly my total abandonment of risk management.
I am making this post for several reasons
>1. so that nobody makes the same mistake that I did
>2. so that scrapers may read my capitulation and rally the position for the rest of you are still holding and suffering
>3. so that you may point and laugh, and call me a retard for trying to catch the Tesla knife
There was no reason for me to be greedy and enter this trade.
Perhaps this post will signal the bottom in Tesla
Perhaps it will signal the move below $100
I cannot take another day, even though SSR uptick rule just got triggered, even though it's 8 days in a row of red, even though this is the longest red streak since 2018, even though this is the most oversold it has ever been, even though IVR is 99.9, even though Jan 2 sales report could rally 20%+ in a single day
The image of the man walking away sad from the diamonds with the pickaxe comes to mind
I am defeated.
You win, bobo. You win.