Blow up

Discussion in 'Professional Trading' started by straddler, May 20, 2003.

  1. ctrader


    Sometimes I wonder if it might be a good idea to hire someone to be your risk manager... reviewing all your trades and making noise if you go outside of your well defined risk profile.
    #11     May 20, 2003
  2. ctrader,

    sounds good. where do i sign up.
    #12     May 20, 2003
  3. Well actually, I like that line of business.

    I'll volunteer to be the risk manager on call for any ET member. Special Discount rate hehe :)
    #13     May 20, 2003
  4. swoop,

    Thanks for the offer. It seems that I fired my risk manager long ago. If I wasn't a stubborn sob, I would not be in this situation. The truth hurts, but I must move on.
    #14     May 20, 2003
  5. as long as you recognize the mistake, 90% of the work is done. Now all you need to do is to fix it.
    #15     May 20, 2003
  6. Swoop,

    Correct. It seems that the easy part is having a plan. The difficult part is sticking to it. Self discipline is the key. Mind over matter.
    #16     May 21, 2003
  7. MVP


    The most important part of being in any business is to know when to quit.

    good luck
    #17     May 21, 2003
  8. don't go back into trading until your are absolutely positive you won't be lulled in greed and 'conviction' trumping discipline as opposed to the other way around!

    Also if you're inclined to double down a lot... get a flight to Vegas and stay out of the markets.

    Good luck

    #18     May 21, 2003


    5 years ago I almost blew myself out by being stubborn. Luckily I had some longer term trades that offset my bigger losses and that bailed me out. That was a lesson that left a lasting impression on me since I sure as hell didn't want to go back and get a real job. I hope you can find an opportunity to trade again ... assuming you have truly learned from the recent experiences.
    #19     May 21, 2003
  10. Lessons learned were expensivo.
    #20     May 21, 2003