There's this: http://www.elitetrader.com/vb/showthread.php?s=&threadid=198144 And this: http://www.elitetrader.com/vb/showthread.php?s=&threadid=198220 Plus an incident I'm not permitted to discuss, where IB allegedly flat out robbed an institutional client of millions of dollars... just because they could. IB allegedly <b>owns</b> NFA regulators and FINRA arbitrators- bought and paid for, so you'd allegedly have zero recourse should IB decide to steal from you too. I know I'm making an extraordinary claim here, but it happens to be allegedly true. I witnessed it first hand. Edit: <b>Legal disclaimer!</b> I'm just joking. Never mind what I just said- IB would never rob anyone. That whole thing with the institutional client was just fiction. IB doesn't really own any regulators or arbitrators- I was just kidding. Your money is perfectly safe with them.
http://www.elitetrader.com/vb/showthread.php?s=&postid=731021&highlight=infamy#post731021 Hard to put a 'percentage terms' figure on that, since much of it was Schonfeld's money. My retail futures account lost well over half my balance that day.
Thanks for responding. Scary stuff. But that drawdown was attributable to an unexpected and unscheduled Fed rate cut. What about your largest drawdown, in contextual terms, during more normal trading conditions?
Yeah, that would be my most frustrating blowup of all... my last one. For me to properly explain, I need to provide the entire context of why and how it happened: On Aug. 20th 2008 I tried to buy a large quantity of H for personal use from my regular guy. It was a setup, and I was carjacked and kidnapped by the federal prohibition enforcement thugs. The government kept me as a political prisoner until I was finally released on Oct. 8th, 2008. Now, remember what the market was doing during those six weeks I was locked up (jail proper for only two days, court ordered rehab for the rest)? Well, I missed the entire party because I don't live in a free country. People on ET were calling it the "best trading market since Livermore's day", and I was stuck listening to 12-step bullshit all day instead of being able to trade. You can imagine how completely furious that made me, and once I was finally released I had a <b>very</b> dangerous mindset- I had missed the most amazing volatility ever, and I 'needed' to trade super-aggressively to 'make up for lost time'. Big mistake! On Oct 10th, 2008 I started the day with about $850,000 in my combined trading accounts. Most of that was with Echo, where I had 30-1 intraday leverage. I blew up over 80% of my trading capital that day... simply because I let my emotions get the best of me.
That's a hell of a constitution you have. Those kinds of numbers and proportions would take the starch right out of me.
Shit man that sucks big time. I have been battling my demons for over ten years and the whole war on drugs pisses me off beyond belief. I have read many of your previous posts and know you are the real deal and will more than make up for your losses. Good luck and good slv trade.
I just got filled on more exits. The position is so small now, you can basically consider the entire thing closed. SLV: $26.28 Edit: Thanks JD! Sending some good karma your way...
do you think the bull market is over with yesterday's action or is this just sort of a quick scalp type trade?
RM, have you ever thought about making a movie about your life? (With some sort of happy end, please.)