a LOT more how dumb must you be to blow out an entire account? that ain't smart is it? if you were so smart you wouldn't decimate an entire acct in first place would you? sharkysmachine
well when a person is desperat he does not know where his limits are No one intends to loose so much but you never realise
If you could have afforded to blow 5 or more accounts you'd be guaranteed to succeed and if not you didn't deserve it anyways and if you can't afford that then you had no business trading in the first place. But face it, you learned a fantastic lesson in life that will over time pay for itself. good luck
Dont bother listening to sharky. You know he has blown out an account before which is why you see he just registered in Nov 2008 and only has 6 posts. He doesnt want anyone seeing his REAL alias where he has lost a ton of money making wrong calls. So you lost 20k. The question is now, what did you learn from this lesson? Will that be a $20,000 "education" Or will that be a $20,000 you just spent to drop out? Dont listen to the naysayers. Most of us who have been registered here for a few years have blown up at least once including me. Right now my account is up about 10% and I do not short stocks anymore, so you can be up going long in this market. (yeah maybe I could be up a lot more by shorting, but i dont look at it like that anymore. Telling yourself what you "should've" done only makes you make stupid mistakes in the future.) Without knowing anything about you, i know exactly what you did wrong because I did the same thing. You either overleveraged in one stock, or you took positions in a few volatile stocks (overleveraging in those too) I'm betting that instead of trading a few less volitile stocks like say JNJ, HPQ or MSFT, you probably put all your eggs into something like BIDU or GOOG? I was like that too. Its like you desperately want to have a 1,000 dollar day everyday with a 25k account and you cant be excited to average 100 or 150 per day. (but its also not as psychologically devestating if you lose 200 bucks in one day) But again...its not as rewarding to see that you only make 50 bucks or 100 bucks in one day as it would be if you made 1000 bucks. Think of the market as playing blackjack in vegas (and you are a card counter) you have 100 bucks. Do you play at the 25 dollar table or the 2 dollar table? Winning 2 bucks is no fun, the table is crowded and you are surrounded by people that dont know how to play. 25 dollar table is much more exciting...everyone knows how to play, and you get to feel like a big shot at that table(plus the cocktail waitress brings you drinks more often at that table)! Which table do you pick? If you wanna win in the long run, you better be picking the 2 dollar table as you dont have enough to last at the 25 dollar table. But most traders pick the 25 dollar table right away because they think they know what they are doing and cant lose. (hope you understand the analogy and not thinking Im telling you to buy 2 dollar stocks vs 25 dollar stocks as I'm not...I'm talking about leverage in these examples.) Anyway...im sure we will see you back. Everyone comes back eventually.
Your comments about IB from 3 days ago...lol?! "if you are a well capitalized trader with at least 250k. The people complaining are small timers with <10k who have already blown a lot this year to date."
By that retarded logic he would have been better off buying a bag of shit for $1. -$1 instead of the -22% drubbing your useless pick would have brought him.