Falling Down, And Getting Back Up Again.

Discussion in 'Journals' started by lundy, Dec 5, 2002.

  1. lundy


    sorry about the mixup nkhoi and nihaba, and thank you both for your replys.

    I might do that, but i haven't got a nickel right now. So I might try to get into a proprietary trader training program instead.
    #31     Dec 7, 2002
  2. MrDinky


    Even though you referred to Nkhoi, I assume you are talking about NihabaAshi's posts. Having grown up with, and dealt with, liars, gamblers, alcoholics, and traders most of my life, I can say the symptoms of addiction are quite similar in all cases, especially in the areas of denial and avoidance.

    So you blew out a $25K account, then a $1M account. That's not the problem. Many successful entrepreneurs started with a string of failures. The problem is with the lies and deception that caused the losses to accelerate to the magnitude they did.

    Let's say for the sake of argument that you are somehow a changed man and "everything's different now." Being $2M in debt, how are you going to get the capital to trade again? The only way I can see how you would be able to raise money would be to lie about your past which sends you down the same road again.

    #32     Dec 7, 2002
  3. lundy


    good point Mr. Dinky, I've already had that experience when getting a job.

    Boss: Have you ever stolen anything or lied when money was involved?

    Me: Uhhhgh.
    #33     Dec 7, 2002
  4. stu


    I am surprised there is so much advice flying around yet no one knows ......
    Have you stopped lying yet Lundy? Are you lying now ?

    In case some of you haven't realized, this Board's members are anonymous. It doesn't have to take an act of bravery or rehabilitation to post in here. A contributor can make up any story they like. It's good fun and interesting to read the Lundy Story, just like it is to read a good short story book....but please, come on, a little less fawning sympathy, it’s spoiling the tale ….. let's hear the rest if there is any. Lundy may still be lying you know! It may be a clue in the plot so don’t spoil it !!
    :D :D
    #34     Dec 7, 2002
  5. I hope that he is lying about this.
    #35     Dec 7, 2002
  6. Banjo


    NihabaAshi is correct on all points, he has obviously witnessed this before. You are attracted to the mkts for all the wrong reasons as are many of the participants. The dream of reaching into the simmering , ever fluid vessel of wealth and withdrawing a golden arm is a siren call heard by many. They excitedly ,on paper, create a progression of compounded wealth and conjour up images of slipping around town with the top down on the Azure. The unprepared will find the've reached into a boiling cauldren of snakes and be lucky to extract anything of value. It's neccesary to be prepared not only in the elusive craft of trading but also as a grounded, balanced person, the later being the first order of business. I agree, professional assistance is in order as the traits you demonstrate suggest problems well below the surface. My experience is that ones own mind alone is not the best tool to utilize in a qwest for solutions . The mind can and will hide things from itself,especially deeply meaningful things. It usually takes another view to help unearth the delberately well buried personal archeology of our past. Also needed will be a healthy portion of effort. Then again , it is your life and at the stroke of midnight another day will be gone.
    #36     Dec 7, 2002
  7. Ditch



    I wondered whether you made a serie of consistent winners during a certain period or was it just one long losing streak?
    #37     Dec 7, 2002
  8. jaan


    good point. because what lundy is saying is that there's an actual person walking on this planet who threw two million at a boy barely out of his teens who promised him/her 100% a month trading e-minis!

    if that's really true, then i can now die in piece, having heard it all...

    - jaan

    p.s. great thread nevertheless.
    #38     Dec 7, 2002
  9. lundy


    #1 This is an anonymous board only to those who stay anonymous. I have used my real name here, and the story is real, and the truth about it is out. The people involved know what I did, and have for along time now.

    #2 My attraction to the market is more academic than material. Its like a puzzle for me. Certainly I wouldn't mind having lots of money but thats not why I'm attracted to the markets. Unfortunately, instead of trying to figure out the markets using backtesting software, I did it with real money. I lied because I didn't want to disappoint the first partner among other reasons.

    #3 I have had times when I had consistent gains. In fact, I'll add a little bit to the story here:

    There was a time just before I quit trading for the second partner, that I started to make money. I turned 400,000 into 1.2 million in about 2 weeks averaging 30 round trips a day (NQ).

    When I reached 1.2 million, I was offered a situation where I could get increased leverage. I accepted and lost most of the account in 1 day due to not being able to cut a loss and the leverage was way too much. I only had 300,000 left and I was demoralized, and quit trading.

    So, I am now using Wealthlab and backtesting these same techniques that I used during profitable times.

    My take on the situation is that I am very lucky that I got caught way over leveraged and lost the money, because otherwise I wouldn't be learning any lessons and making changes. Unfortunately it was other peoples money that I lost.
    #39     Dec 7, 2002
  10. ScaleOut


    This is so much BS!
    #40     Dec 7, 2002