On the 31st of October and 1st of November, I had high hopes of making a substantial profit within a short period. Everything seemed to be going according to plan as I diligently followed the trends and went against the majority, successfully turning a $500 investment into $900 in less than an hour.
However, my fortunes took a sharp turn when a significant shift occurred in the market. In just one hour, the top trader (account) transitioned from a bearish position to a long position with a higher percentage. This unexpected change led to me being stopped out at a modest $100 profit. Unfortunately, this marked the beginning of a downward spiral as I experienced losses over the next four days, ultimately resulting in my trading account plummeting to a disheartening -55% just before the pre-election period.
As today marks the highly anticipated Election Day, I have made the conscious decision to refrain from participating in any trading activities. My rationale behind this decision is to safeguard my capital, especially considering that many retail traders are heavily invested in long positions. By exercising caution and avoiding unnecessary risks, I aim to protect my resources and wait for a more opportune moment to re-engage in trading activities.
Reflecting on the recent events, I am reminded of the importance of remaining adaptable and responsive to market dynamics. Despite the setbacks I have encountered, I am committed to learning from these experiences and leveraging them to make more informed decisions in the future.
In conclusion, while the recent challenges have undoubtedly been disheartening, I am determined to approach future trading opportunities with a renewed sense of resilience and prudence. As I navigate through these fluctuations, I am confident that with careful consideration and strategic planning, I can steer my trading endeavors towards more favorable outcomes.