So he got out of trading futures completely. I know a lot of people trading foreign currency. I never got into at all. What do you think is better? I've really been looking to get into it.
The forex market is great in many ways - lots of volatility, a true 24 hour market, deep liquidity, and the market trades technically - execution is better in futures of course, but you can always trade IMM currency futures if you want -
Today, buying 200 bund on NFP at 116.68 and having to watch it trade down to 41 which took 50secs, so very close to taking the 5400 tic hit ($80k)and then finally getting out a minute later for a couple of tics loss. Like watching a horror film! All's well that ends well made enough for a beer in the end
No real horror story but when I started trading futures in 2005 and using TS automation, I was used to let it run on its own during the day while I was at work. I was using it for one week with a crappy over-optimized system when I forgot a holiday when ER2 was trading only 2 hours. The TS platform kept getting signals( BKO ) and sent market orders in deep illiquid holiday market for 2 hours. Cost = 1K = 10% of my account at the time. The next week, I upgraded TS on a rollover day and TS always have issues with rollovers, the continuous contract don't adjust and indicators go berzerk with false values. Same thing = 1K. I had lost 20% of my account in 2 weeks on stupidities( both mine and TS')
horror story in trading? when i lost my one year's annuity in one trade lol was trying to move the market in my direction but it did fail miserably
Standard craziness of the bond markets on Non farm payrolls, eurostoxx was equally nuts, always an interesting experience, very high risk time to trade but potential for high rewards too.
Funny thing is I started a similar thread for people to showcase their greatest returns and only have one post....someone saying they never made any money at all. That just goes to show you how hard it is to make money in futures trading.... http://elitetrader.com/vb/showthread.php?s=&threadid=116298
You have no sense of humor? Almost every post of mine is poking fun at something/someone. But I try to include some stupid vague meaning in there. Heck, even my handle was well thought about before creating the best one. But sometimes kids do not understand this stuff(I do not either). They only care about "licking pussy" or what not. But that is pretty much E.T.