I was going to set up an account with Refco, but kept putting it off. Then Refco hits the fan. See, procrastination is good.
Funny you mention Refco. My trading horror story happened while I traded there. Get this.....I was an SP trader for them. I had a trade go 4 WHOLE ticks against me. Count em. One two three four. What a disaster. Was horrible. Not as bad as my buddy who was a 30 year trader and lost 2 whole ticks. Oh the pain.
Lost $78,359.40 USD/82.74 % of account value in a few hours. I had an unrealized loss of more than 100% during the day. April 11th 2006, long, entry at around 12.95(not the front contract) <IMG SRC="http://www.kitco.com/LFgif//agapr06.gif">
Now that's a horror story.....did you have a stop on that?? The market went too fast to get stopped out