Hi folks,
I thought I would stop by and share a story:
There was a guy who yesterday decided to buy TSLA, INO, NVAX and MRNA.
He went all in expecting a nice pump over night. He was happy that afterhours and premarket confirmed his predictions. And he said to his family, "as long as I sell at open, I shall be fine".
But life isn´t really that easy, specially if you are greedy and a rookie. So he saw the market pumping and thought, I will let it run a bit more... no stops, no nothing, just naked stocks in the middle of the battlefield.
This guy got a few meetings right after market open for his wageslaving and when he looked back to the monitor his overnight profits turned into a 0%... he thought, it would recover a little, got distracted on another call and when he looked back he was seeing all red... he sold everything at that moment and he felt like what he was, a rookie, a greedy moron and somone who now had much to learn still.
He was also told later that day that he would get a promotion so, he was happy there would be more money to risk.
TL;DR: Stick to your plan, and if you are not, at least set stops.