What you are describing is anything but trading.  I am all for taking a large bet, I do it quite frequently.  But, I am also quite willing to admit I have it wrong.  A large bet levered to a commodity will do just  what you have described.

 

You need some form of discipline, some amount of loss say 7% and if it goes above that just cut the cord.  If you can't do that you have no business "trading in commodities".  Even that is a good chunk to lose but these commodity stocks are easily moving that much in a day, and the commodities even more. 

 

Sorry if I seem harsh, but I am trying to help.  For instance I got caught on the long and wrong side of CVX I was in anywhere from 183 to 185 it closed at 187 yesterday, it went down and hung around 180.  Today I saw the writing on the wall sold a big chunk premarket at 179. and change very close to the high of the day.  Sold more around 179. and finally closed the position at around 178. 

 

Would I have felt like an idiot if it turned around today. Yes! if that had happened, I just would stay away from the sucker.  But if you are trading and you say you are, then you have to get out when the tide is going out so you can buy back in lower for more shares or just buy another stock.  There is always another trade, this market has been full of stocks that are ripping up and down. No need to get married to a stock or commodity when you have it wrong.

 

Did I feel stupid today. Hell yeah! I took a good size loss considering the number of shares I held.  Did I feel stupid when I tried to short NVDA and it turned and started screaming higher, the same with Tesla.  No matter I made a good chunk of change shorting NVDA earlier this year-and lost very little on the second short, because I covered quickly. Tesla  I actually made a good chunk closed the short with a profit and then caught a nice ride up.  The key was, I saw I had it wrong and I did not bend over and take it where the sun does not shine.

 

I have had a few outside losses this year. But I have had many more large gains.  I have had a terrific January despite making some boneheaded losses that were more than they should have been.  But I have made much more on the rest of my trades this month. You have to be aware if you are taking large bets this market rips one way and another, and to catch people like us on the wrong side.  If you make large bets you have to be willing to take a good sized loss before it becomes a widow maker.