How composed are you when you took big loss?

Discussion in 'Psychology' started by turkeyneck, Oct 9, 2008.

  1. Say in double-digits? Are you as composed as Paul Tudor Jones who can still meet and greet visitors while he's taking it on the chin in the market?
  2. Haha, double digits? How about FOUR digits? X,XXX or how about five? XX,XXX.

    Loss is a lesson. Eat it and digest it...

    Then get over it and slowly make it all back. It's very possible to bring it all back and more. I know this because I have.

    Afterall, we trade with RISK capitol, and it's not the end of the world :D

    With this attitude with will succeed far more than anyone who is attached to money.
  3. Morph_an


    I'm assuming double digit in percentage points?

    Yeah tough, sometimes I feel that I work so hard to lose money....
  4. well if you are comfortable with your risk/reward and percentages and the trade didn't work out then what is the problem?
  5. morreo


    I really don't care when I'm down double digits. Mostly because double digit swings are normal for me when it comes to stocks (Futures are a totally different ball game in that area)
  6. double digits (definition) = 10% to 99%
  7. i took almost a 6 fig hit (biggest of course) which lit a fire under my ass which lead to my best week ever last wk.
  8. A loss within your limits is easy to take. What about when something unexpected happens and you lose 2 or 3 times (or more) what you had planned to risk.
  9. Face it, were all human and it feels like shit. We are conditined to "recourse' we're insured for everything and what we aren't insured against we can sue to right a wrong. Not so on a market loss.

    Ask around to family and friends how they feel now about there 401K's. Half the people here want "justice" (whatever that is) from the other half who made all these mistakes. People aren't happy. Congress won't even look in the mirror, what does that tell ya? Some role models.
  10. There's no reason to lose double digits. If any trader has "huge" losses, STOP TRADING and learn risk management. I trade e-minis and never risk more than 4 or 5 ticks. With a W/L ratio around 60%, you can be extremely profitable and keep your sanity! LOL

    Chris Dunn
    #10     Oct 13, 2008