You keep on "wowing " us all, xelite777 I would agree that to make outsized gains that one would expect outsized risks. But if you are going to take such risks, then you absolutely cannot afford lapses in discipline, e.g. double down a loser, lift your stops, etc.
Jesus F'n Christ Big deal - didn't take the stop/ averaged down Yes there is a way around taking big risk Thought you were a trader RN
47% loss of account (55 last), but of course his clearing firm would have auto-liquidated before now. Pure champion stuff. A 24yo with no edge, no sense and no trade management. He had three total losses of prem on the other board. He disappeared from those threads. The only logical decision was to buy the Audi; at least he can't trade that money into oblivion.
I don't think I could have expressed it quite so eloquently but any loss beyond his stated SL is lack of discipline. This is a perfect example of why stops are for losers. Gotch your back, EMG.
Yeah, but as xelite777 would say, "Big deal. You only need to make 94% return to break even on that trade". Haha. This thread has a lot of entertainment value.
But how do you know that for sure?? What if OP quickly changed his mind and said : "The hell with the Nasdaq, I am going to cancel this trade, put a 6-pack of cold Heineken in the trunk of the car and go fishing, it's a lovely day today in New York" Let's wait until we hear the facts from the man himself before jumping to conclusions. Think you can handle that Redneck? Sure, show us how to make a 1,000% return on investment in 6 months or less without taking big risks, Redneck.
Wait a minute here, HE is the one putting his own money and his reputation as a trader on the line! How many ET members can do this? And if he did indeed lose a big chunk of his cash with that long Nasdaq trade, then at least have some consideration for the pain this fellow trader must probably be experiencing as we speak, financially and as a trader. I can only imagine how it feels to wire 10K to a brand new trading account and then lose a significant percentage of that money right there on day 1, with the very first trade (if that's what really happened of course).
Well, until the OP comes along and states otherwise, we are within reason to presume that he had quite a drawdown today - why else would he post updates on his own forum but remain completely silent here at ET? I'm not sure why you seem so personally vested in the OP's cause, but no one here is holding him to anything more or less than the expectations he himself set: I'm hoping he comes back in and owns up to whatever happened today and continues. And for once I'd like to see of these journals continue past the first day.