Baldwin Blows Out?

Discussion in 'Financial Futures' started by nitro, Jun 22, 2005.

  1. ozzy - we should start a thread for you... just reading this thread quickly before shutting down & came across your story...

    I suspect if you have been successful in the past, you can be so again in the future... so many traders have lost a lot and come back

    best wishes

    #51     Jun 28, 2005
  2. Choad



    Sorry for your troubles, but please keep posting. I think in the back of every trader's mind is the thought "What if all my trades suddenly turned to crap and I lost my edge? Am I next to fall?"

    In your posts and experiences I know there is a lesson for us all.

    Thanks and good luck.

    #52     Jun 28, 2005
  3. mhashe


    imo trading is like riding a bike, once you learn hard to forget. Unfortunately even if everything goes smoothly 99% of the time, It's that 1% when we trade irrational that is hard to overcome ones psychological discipline issues that leads to disaster. Good luck on your come-back. Yes, imo luck plays a huge role in trading success, regardless of what others say.
    #53     Jun 28, 2005
  4. In 25 years of trading I have never talked to more seasoned traders collectively having this difficulty in trading.......all types of traders in all types of markets.....
    #54     Jun 28, 2005

  5. traders intelligence/skill/computer power is increasing exponentially, hence the market is reacting in same. this is her nature....
    #55     Jun 28, 2005
  6. Does that imply that all "seasoned” traders need VOL to survive?

    #56     Jun 28, 2005
  7. Htrader

    Htrader Guest

    I'll thrown in my two cents. This market has been difficult for me as well. I was able to keep up with last year's profits for the first quarter this year, but I've fallen a bit off the pace in the past couple of months.

    Just fewer opportunties, I trade equities, and a lot more trades that don't act like they used to. More hedge fund order flow and less institutional flow...not good. Vwaps trades dominate most nasdaq stocks.

    I've partly compensated by increasing size for my most confident trades and scaling back on my hail mary trades.

    I always try to set a new profit peak each year, but it looks like I'll be lucky to match last year's gain at this rate.
    #57     Jun 28, 2005
  8. ozzy


    Hi All,

    I'm not sure how much more I can add by discussing what has happened to me. The mistakes I have made are all general and we all make them.

    The most important element in trading for myself is having the right mindset/psychology. In this game you have to be on everday and when your not you have to close up shop and do something else.

    I don't want to repeat things that all of you already know. So I'll keep this short. The top reasons for my failure are listed below.

    1) Trading while going through personal issues
    2) Unrealistic goals/expectations from myself
    3) Following rules only 90% of the time
    4) Playing far too big
    5) Complacency/overcofidence.
    6) Not having enough respect/fear for the markets.
    7) Not knowing the value of money (like father like son)

    The list goes on and on.

    I'm in an odd situation, I still have confidence. There are periods/weeks where I can not be stopped and then I have (a) day where I blow all my previous winnings and then some in one day. It's becoming emotionally draining having to come back after these days.

    I've been on both sides in this game and I have a new compassion for people who struggle in trading. I've been through quite a bit in the last 2.5 years.

    Maybe I'll comeback from this and become the trader I believe I can be and then maybe I won't? Know one knows.

    Good Night Everyone.

    #58     Jun 28, 2005
  9. Choad


    Thanks oz. I bet every trader can agree that we have made most/all of those mistakes.

    Sounds like you have the right attitude to practically be back now!

    Good luck.

    #59     Jun 29, 2005
  10. Moreagr


    ozzy if you don't mind me asking where you messing with options or were you over leveraged??? in 2004?? losing 1 million what did you invest in?? where you passive or active in your trading???
    I have alot of respect for you if you can stand up and walk again.I hope you reach success in the future
    #60     Jun 30, 2005