I must admit, you have provided a worthy and well written almost eloquent response to my end of the year dilemma. While those who compose their ideas using baroque style of composition generally possess the skill but not the talent, your case seems to be the exception to the rule. Seems being the operative word here. Now that we have dispensed with the pleasantries, allow me to get to the merit of the matter. As I have stated on more than one occasion in this thread, my last trade of the year was out of the ordinary, against my better judgment and with an outcome very much unlike the previous ones for the year. Consequently, providing foregone conclusions as to my ability to successfully squeeze $$$$ from the market based on one trade is perhaps not the most reliable way to assess ones skill at extracting paper gold. In doing so, you have joined the rest of the âeducated elitesâ roaming around ET. The only difference being that most of them deep down know that they are useful idiots. You however with your dictionary skills and clever machinations of synonyms are under a misguided impression of actually being smart. Allow me then to shine on your verbal wings Icarus. Your ability to use fancy words is nothing but a skillful camouflage of your rather mediocre intelligence. Just like poor folk try to impress the rest of society with expensive cars and jewelry, you attempt to hide your lack of coherent and original thoughts by intertwining sentences with unnecessary and superfluous verbal vomit. It is clear your parents were very diligent in sending you to a library at some point in your life. Too bad the end result was not unlike Don Qâs fate. P.S. Your nick is so telling. You are as far from being one as most here are from profit. How presumptuous!... LOL I am in accordance with the above view. With a scintilla of reservation in case Saxon is behaving with veracity, I would add myself to the voices that would adjudicate his trading style as completely reckless and devoid of merit. One sure giveaway is his complete absence of risk management while he is trading 60-70 contracts. That is a relatively capacious account size for a virgin rookie trader. One cannot achieve such success with a trading style that is consonant and kindred to a person making his very first trade. The other possibility is that he either inherited that money or sold a large business... both options he did not admit to. I have been trading for decades with considerable success, and I am loathe to increase risk in order to triumph the trade and annex my ego. Many years of trading have instilled in myself the humility of the randomness of the markets, and preservation of account size is paramount after you have established the "edge". His behavior is textbook to how one should not trade. I nearly lost my lunch a couple of times in humor at this utter recklessness. If he continues his actions, he must divulge that his family or girlfriend must enjoy living under bridges during the wintertime while he is assuming the role of "mendicant" instead of "trader". I will adumbrate that he cannot with any degree demonstrate the integrity of his assumed trades... because even if he can, it is certain that if he does not change his ways, his career in trading will be met with an abrupt and unceremonious end, with his reporting that he is now able to deliver pizzas to the rest of us. Perhaps it is that he reminds me of the character of "Don Quixote" by Cervantes. Let me remind the readers that the story does end with his regaining sanity...but alas melancholy and death, even as Sancho Panza endeavored to restore him. Let us hope that the OP can pick up a decent book on trading to guide him in the path to profitability. Although I will choose to remain anonymous on this message board, I give my word as my oath that my years of experience dictate that preservation of one's capital must be held sacred at all costs, even as much as a young father protects his teenage daughter's chastity. I have always held the protection of my capital as dear, as the number one priority, and as such am considered by my peers as epinician. However, perhaps... if Mr. Saxon's horrific unprofitable trade is real and not a demo, then this is a valuable lesson that he could have only purchased with such a painful experience. Sometimes, a person can learn no other way. But one always bears the consequence of his actions, if he was trading in such an infantile manner, then he will bear the fruit of such. I rarely do quote the Bible, but here an apt adage applies, "Be not deceived, God will not be mocked. A man always reaps what he sows." (Galatians 6:7) [/B][/QUOTE]
"The lady doth protest too much, methinks." I explained all of this in November. Any serious battle hardened operator understands this condition, which is a bull phase. The reasons for this are obvious. Only amateurs who do not know, and masochists who will not be taught position themselves the wrong way around. Only the stubborn and emotional average down when proven wrong. If you had reversed your positions long at the same time as you start this thread to complain that the market is not giving you money, would your pockets be deeper now? 45 points higher on ES, and today would be a good place to take most of your profits. On the 70 lots you were willing to put on, you would have made over $120k on that trade. Expensive ego. Whatever you may say about how unusual this trade was, or how good your other results are, it is obvious to those who know exactly where you are in your trading development. (on the other hand, as some very senior members have observed, it is always useful to follow boards such as these to find good fades) This is fine. None of us are born knowing. Why not focus on becoming a better trader, rather than pretending to others and more importantly YOURSELF that you are at a different level? http://www.elitetrader.com/vb/showthread.php?s=&postid=3003719#post3003719 And today the Nasdaq makes new three year highs. You cannot complain you are not told everything! (I will add, that this inventory accumulated earlier and lower is now being sold out to the public higher as they are now getting back long the stock market. The implications of this are again obvious.)
Saxon is there a reason you can't give us the courtesy of a post with your exit details for the trade?
yes - my pride. Let just say I got clipped. Lesson learned and so far not forgotten. I lost enough to have a heart attack and my scheduled time off was not as relaxing as I wanted it to be. I am still in the game but my jaw still hurts.
Then why did you post in the first place??? You were already hurting when you decided to post about it for exactly what reason?? How would that help you? Unless you wanted to show off for some strange reasons, there was no upside in posting about a possibly big losing trade. Then the market gives you a second chance, the position goes into the money and you make the same stupid mistake, AGAIN. Sometimes you get only one chance in life...
Then why did you post in the first place??? You were already hurting when you decide to post about it for exactly what reason?? How would that help you? Unless you wanted to show off for some strange reasons, there was no upside in posting about a possibly big losing trade. Then the market gives you a second chance, the position goes into the money and you make the same stupid mistake, AGAIN. Sometimes you only get one chance in life...
I posted so that if I were to make money it would feel warm and my ego would smile. And if I did not, it would be there for me to look up in 6 months or a year to keep me humble and to re live the mistake without getting clipped again. At the time of my original posting I honestly was under the impression that the market was going to reverse enough to make extra 30K which would not have to be that big of a reverse considering the number of contracts going in. I got 10K out of that swing. I needed it to go down another 5 to 10 points but it did not and the rest is .... pain.