We’ve all made trades that we’re not exactly proud of.
A simple mistake like misreading the charts, ignoring a plan, taking a big loss, hitting the wrong button, or holding onto hope while the market moves against you are mistakes that can leave a lasting impression. These moments often leave us thinking, “I can’t believe I did that.”
What’s the most embarrassing trade you’ve ever made? What happened, and what lesson did you take away from it?
They’re all embarrassing, but the worst one was my biggest loss.
I’ve told this story before…
I had a trade that I was so certain about the direction. And this was at the beginning of my trading journey when I was trading live.
The closer price got to my SL, the more I added to my position.
Eventually price went in the opposite direction I expected, blew past my stop, and I lost about 20% of my account.
I learned that I really needed to think about how I was trading. I learned a hard lesson about risk management.
Actually, an even more embarrassing story is my first strategy.
At the very beginning, I was trading on my phone. I started trading live because a friend told me I needed to get in the market while the market was recovering from COVID.
I had no idea what I was doing. I would place a trade on my phone, go to sleep and close the position when I woke up. I called that strategy “the sleeper”. Haha
It worked a few times. Of course, until it didn’t. It made me think trading was easy.
I learned not to take investment advice from anyone. If I don’t wanna invest yet, or I think something isn’t good for me, I should only listen to myself.
Oh boy, if I had to pick an embarrassing trade… it would probably be the time I tried to catch a “pump” on a meme coin without doing enough research. I got all hyped up, thinking I’d be the next crypto genius, and then poof it tanked faster than you can say HODL.
I was feeling cocky, thinking I’d nailed this GBP/JPY setup. No confirmation, no stop loss — just vibes and caffeine. The second I hit “buy,” the market tanked like it had a personal grudge against me. I just sat there, watching my balance evaporate, still hoping it’d bounce back. Spoiler: it didn’t.
At least they both have the same quote currency and it’s the USD! So - less likely to be disastrous than if you’d traded USD/CHF or USD/JPY by mistake?