It was mid-July 2024, and I was riding high on the success of my investments. QQQ, the ETF that tracks the Nasdaq-100, had been performing exceptionally well, and I felt invincible. But then, the market took a sharp turn. From July 12th to August 5th, QQQ plunged by about 14%. My portfolio, once a source of pride, now felt like a sinking ship.
I remember staring at my screen, watching the red numbers flash, feeling a mix of disbelief and frustration. How could this happen? Determined to recover my losses, I decided to engage in what I now recognize as revenge trading. The market had become my opponent, and I was ready to do whatever it took to win back my pride and money.
Every day, I would wake up early, analyzing charts and news, looking for any sign of a rebound. My emotions were running high, and my decisions were driven more by desperation than logic. I bought more QQQ, convinced that a recovery was imminent. But the market continued to test my resolve.
Then, on August 6th, the tide began to turn. QQQ started to recover, climbing by about 9% up until August 16th. My spirits lifted, and I felt a glimmer of hope. However, despite the recovery, QQQ was still 6% below its all-time high. I realized that my emotional trading had cost me dearly.
Reflecting on this experience, I learned a valuable lesson about the dangers of letting emotions drive investment decisions. Revenge trading had led me down a path of stress and poor choices. Moving forward, I vowed to approach the market with a clearer mind and a more disciplined strategy.
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