27 karma · joined August 15, 2022
> "The day comes where you continue doubling down and you lose a substantial amount of capital in the process."
- I believe that continue doubling is one of the most fatal stratetegy. Sadly, I made this mistake multiple times, which caused me a extensive loss. The only solution I come up is, while continuing doubling, cut loss if there is a certain amount loss reached (like 10$ or 1% of the capital). That was the actualy reason I implemented the bot where it automatically closes the position for me; since in a loss , "fear" does not let me realize what's happening and instead of a cut loss I adding more into a losing trade.
The bot opens up to 20 positions in parallel each starts with 2$ and always limit order with 0.5% profit. Some positions close itself in few seconds some remain for a day.
If there is -5% loss on a position, I added up the amount of the position and re-order limit order with 0.5% gain. Let's say for 2$ position if there is 5% loss, I add 2$ more, than 4$ ... The position size grows as 2 => 4 => 8 => 16 ... with updated limit order for each. I observe that eventually position close it self with profit.
In past, during my master studies, I reach to a Professor about guidance and his response was:
"Unfortunately I cannot do code-checking for you. Please understand. This is absolutely not my duty, but your supervisor's. I am sorry."
Since then I pull myself back and ask direct help. But a year later when I told him that I somehow complete my work his summary of response was:
"Generally speaking (concerning your situation as a "lone fighter" without much help from your personal environment) -- admire you for how far you have reached."
Hence, I am experiencing the same situation as a PhD student. I cannot even get real time feedback on the proper terminology from my PhD advisor. He laughs at me saying highschool students even know this and throws his other students' papers or heavy Algorithms book at me to learn from.
Because I was not able to properly explain my code using math notation, he gave me an "F" in my semester progress just to motivate me.
Overall, reaching out for help using "Stack exchange" was the only place I felt safe even though I get scared sometimes to ask questions.
Everday I ask this question to myself. Will the world a better place without Facebook and Instagram?
I believe that's a wrong mentality, hence that's actually how my Ph.D. advisior does to me and its pretty painful on my end. My advisor does exactly your advice as he just stop caring about me and focus on his projects success. Probably he thinks that "I have no power over my student's success or process so I just stop being responsible about it to be not stress out.".
I think you have power over to help others and communicate the way you feel about your situation right away.