Home > Technical Topics > Psychology > Just lost 5% of my account...

Just lost 5% of my account...

  1. I feel horrible...:(

    At the same time I don't really. I feel like it's not my money now. I actually feel a bit relieved.

    I only have $1900 left. This sucks:mad:
  2. since you are being totally transparent...what exactly happened?
  3. what. you lost about 100 bucks? i spent 3 times that on groceries yesterday.
  4. I am forward testing a strategy live, and it lost 5 ticks the first trade. Then I got so mad my first trade was a loser i just entered a trade then I got scared and made my stop smaller and smaller, and stopped out.

    My loss is actually bigger than $100:(
  5. Quick observation: I'm not saying that if your username were "SuperTrader" that you would be successful, but I think that often how we think about things can have a reinforcing effect...
  6. 1900 is poker money, not trading capital

    come back when you have 25k plus

    no real business owner starts with 2,000 bucks

    good lessons for sure

    but this is just "play" money, nothing more

    so learn and waste it all, or play poker and waste it all

    2k isn't turning into anything crazy

  7. I dont believe in paper trading....with that small an account I would trade 10 shares of the qqqqs or whatever, never having a stop greater than 2% of my account.
  8. No doubt about it. And there's a reason why I'm "the1." If you think you are going to be successful you might just be successful. If you think you're gonna fail you absolutely will fail.

  9. might better invest that with a trading guru and get yourself a fine education
  10. Are you completely sure trading is for you ?

    Does not seem like it is. Losses are natural in trading.

    No Heat
  11. your not saying that, but I am. You know what Warren Buffet's middle name is? Superdupersuccessfulricholdguyinvestordude. Im not saying that his middle name is why he is successful but...
  12. 5%? i lost way more than that over the last few days. shit happens... get over it and learn from your loss. that, or just pack it up...
  13. I altered my plan on the fly for no good reason and my first trade today lost some ticks, what the heck, I made a couple more trades and quit when I was ahead enough to feel good about trading... If your method is good, and proven, then a loss doesn't mean all that much...
  14. Let's look at that closer:

    I am forward testing a strategy live

    You are testing an unknown strategy with cash and not in sim. I applaud your candor, but your choice should condemn your pride to ever do that again. If not, you are a cracked account just waiting for a place to happen. Brokers love margin call fees.
  15. says it all...all traders can relate
  16. I know what I did yesterday was very irrational. I must act differently

    You guys might be right. Having a name as failedtrader might not be smart, even though it's just a joke. I haven't exactly been successful in everyone of my endeavours.
    Several years ago I had a depression, lost friends family college. Then found trading, thought it would save me. But blewup my first account and contemplated suicide. Luckily I didn't do that. However I did realize then God didn't exist. Only lately have I come to terms with family again. I feel much happier now. Also I have accumulated vast amounts of trading knowledge. Even blowing off steam on ET helped a bit. However building up savings to trade again has been tiring. The first day of testing, luckily I only lost $100. This is more than a days work, but at least I have a job in these times.

    It's hard, but I think I can do it. I can dream can't I?
  17. Sounds like you've been through a lot.

    As tempting as trading for a living sounds... in your current position... don't do it.

    Have a normal day job (just like 99% of everyone on these forums) and build savings for several years; all the while learn everything you can about the markets and investing and trading. It's almost like working towards a degree.. except you're totally on your own.

    The learning curve for trading is very long.. on the order of years, even decades.
  18. To ft:

    I would say that trading does indeed require a pretty strong psyche, so trading your own money might not be the way to go forward for you. However, there might be other ways for you to utilise your "trading knowledge" - perhaps becoming a broker or some sort of financial advisor.

    Anyway, good luck to you.
  19. I thinks it's good to be honest with yourself and other people, why not. I have a certain empathy with your meloncholia and have suffered similiar feelings (indeed, my depression and hypersensitivity are going to be with me all my life and they are inherited, for the most part). I think society generally creates many of it's own problems and how many times do we hear the facts when it's too late? I would go as far as to say that many of these feelings are the norm rather than the exception, it's just that people don't want to talk about it because of the stigma and modern society (especially USA) requires us all to be 'winners' and the word loser is the absolute worst offence you can call somebody. Crazy. We're all losers in the end, we die and life is at heart meaningless.

    But what I would say is you have to be careful when you have these feeliongs and you trade (there is a whole thesis to be written on this) as it's a great way to press the self-destruct key. I have self sabataged many times. It's taken me about 4 years to get to the stage where I can make a living, controlling my emotions and being consistent at the game and as It's christmas I'm going to offer to tell you my system (I trade the es and euro). It's pretty simple as long as you have a few basic tools. PM me if you're interested and I'll talk to you via email.

    All the best
  20. What is wrong with me!

    I just lost another 10% of my account. It's completely my own fault. I was looking at the market, and didn't see any set-ups. Then something crazy came up in my mind, why not just take a trade for fun. 1 point stop and 1 tick target. I had a bit less than $1900, and 1 tick profit, with commisions, would get me above it. Also I figured the weekend is ahead, a bit of fun for $50 doesn't matter?! WHY did I think this!!!???

    So I did that and it made money.

    However afterwards I couldn't stop checking out the market anymore, even though there were no setups, and there were bound to be no setups I could take that day.

    Then I though, why not try take a 1 point target with 1 point stop, at a support and go long.

    I did that 4 times in a row, I know, completely and utterly stupid. Everytime I put on a trade I get very nervous, yet am very excited. My heart is pounding in my throat. I know this is just not rational behaviour. When I was down to $1850, I thought, it's not a round number, lets make it 1900, or $1800. Then it became a bit under $1800. I thought why not take another trade, to make it a round number. When it was $1750, I thought, why not make it a round number $1700 or $1800.

    Is something wrong with me?! Maybe because it's Friday. The weekend is ahead and it makes me think about how I don't have any friends to hang out with. Maybe that is the reason I felt the need for an adrenaline rush?? Basically I have nothing to look forward too.

    So result for this week, down about $300, more though, and lost at least 15% of my account:(
  21. Failed_trad3r,

    This may seem harsh but you got what you deserved. Why? You had a plan or strategy (so you say) but at the first sign of it not doing exactly what you want, you went on tilt and ignored the system that is supposed to be designed make you money, not lose money. If you can’t follow your plan, whatever it is, you have no chance of success. We all lose money and we all make mistakes. Get over it. (I wrote this before reading your last post).

    You need to get your emotional house in order to be a successful trader. It is not hard; you just want an excuse to dismiss self-destructive behavior. Why would someone serious about this business not follow the plan they designed to give him or her the best chance of success? Answer: they would not unless they feel they don’t deserve success (for past transgression in life or whatever) or have some other psychological problem they need to address BEFORE trading.

    You said “It’s hard, but I think I can do it. I can dream can’t I?” This comment says it all. It says you don’t really believe you can be successful. That really makes it harder if you don’t even believe it yourself that you can change and learn from your experiences.

    Having said that, the first thing you need to do is acknowledge you made a mistake, take responsibility for it and just as importantly, learn from it. Comments like the one above make it sound like you are just an outside observer of your life and you don’t have control over it. That is perfect victim talk. Victims are not successful traders.

    Stop trading and get your emotional house in order. Save some money, paper trade and try again later, IF you can get in the right place emotionally to trade. I am not trying to minimize your background because everyone has to overcome certain things in their past to be successful. But don’t use it as a crutch. Use it as motivation to better your future. Unfortunately, your story is a very common tale.

    Best of luck. I hope you find what you seek.

  22. I found it helps me to go back to sim after taking a trade off of my setup with real money. This way, when I want to see if I am right and wrong about testing something that is not part of my setup or just bored, I put in a sim trade. Also. if I lose money with the sim trade, I can then without any emotion, decide what I am doing wrong for the day. Of course when you put in a sim trade and it works, you do wish you did it with real money, but then it does build up control at least for me to wait for the better trade.

    Also, I agree with others, you picked a bad name for yourself. You need to think positively. For example, if you are thinking negatively, don't even trade for that day. Some people think, ok I am a trader, I have to get a trade off or I am not working. But the truth is trading can be easy. Wake up late, make money, then screw around. Instead think, I may lose money on my next trade, but since my system has an edge, I know I will make money over time. You are revenge trading. You take the loss, and want to take another trade real quick without waiting for a setup to make it back. Also, I suggest setting a stop loss $ amt for the day and even set how many trades with real money you are willing to take for the day. Also, try to keep some things in mind about price, is price too high for the day, or too low for day. Try to think what a trader would be seeing or feeling if they were already in the market short, and what they would be seeing or feeling if they were long. To make changes in ourselves, you need to do one step at a time. You just agreed with us that your name was bad. So now that you are agreed, before posting another reply on this thread, change your name, and then reply and let us know it is you. Just by doing this one little step will make you feel better. Its just like when Neo ate the cookie. The cookie did not solve his problems, but they were one step in that direction. Remember, the secret is not to bend the spoon. The secret is to realize that the spoon is not even real. When you understand that, then you will start to make money trading.
  23. at 2k you should making a lot more than being down, rethink your strategies as to why you are not making it, once you get it going its not hard to take that 2k to 100k in a yr
  24. 5% is one thing, $100 another. I don't believe you should be mad if you were trading futures. You're probably lucky you didn't lose more. 2/1000 is 0.2%, on which you lost 5%, so we're talking about 25 to 1 leverage. Too much, kind of like going bust. I think you need to raise some more capital before having a go at it again. You can always hire professionals to manage assets. Treating money and securities like a casino is not how they were meant to be viewed, and serious thought and effort needs to go into a plan for every day, every week, every month, every year, every decade, and your lifetime. Without that, there isn't even a possibility of success. I'll give you a hint, this "plan" takes years to do, so the trick is to have a lot of patience.
  25. He still had no plan. Thinking well, I'll risk 1 point to make a point <b>IS NOT A PLAN.</b> I think you give him way too much credit.
  26. See, failed trader, Maestro is just envious of my success. See how I have done? You'll get the exact same information from that worthless thread.
  27. Maybe if you lose most of your account you will discover how to learn here, rather than creating 1,000s of accounts and demanding people teach you and give you attention. Or better yet, sort out your psychological problems in your life, not through trading.

  28. Man, I can't stop pissing my pants I'm laughing so hard. Can u come on every Friday, say....4 or 5-ish CDT?
  29. Lol oh really?

    2K to 100K is not hard at all..tsk.. the bs that some people spur.
  30. People who claim impossibility are frequently interrupted by those doing it. That system you referred to, without respect, just capped a nice monthly ROR of 3x. Keep talking, turkey. Time is on my side. And in a year, you'll still be sitting here wondering what the hell went wrong with your trading. :)

  31. There are dreams, then there are debilitating fantasies. Whether all this is sincere, a joke or self-aggrandizement, I'm not sure. But you will go nowhere with $2,000. You are guaranteeing your own misfortune.

    Get a job in the industry or go seek wealth in some other venture and come back in 10-20 years. The $100 you lost went in my pocket . . . and I'll keep taking it if you continue to act like a jackass. You are outmatched beyond belief.

    There are people who will help you, but not until you stop the pity party. There's no glamour in trading. You have no reason to believe trading cures depression or any other negative feelings. It creates them.
  32. Stop Day Trading!!!
    Stop Trading!!

    If you insist then you need some rules:

    2 Trades per week max.

    And that's all you can take.

    I'd look at longer holding periods and less leverage too.
  33. Sure it did. But you can't beat my results. Ha!
  34. Keep dreaming, hotdog, and keep your spreadsheet fantasies alive. Doing so entertains the rest of us.

  35. This is the kind of post that should be removed from EliteTrader. Imagine thousands of whiners complaining they lost $200 or 5% of their account on this site.

    EliteTrader hits a new fucking low. Really, this is not a site for experienced, top traders. Is a site for college kids with play money.
  36. What is the ticker symbol for EliteTrader?
    I never knew EliteTrader has a stock. Are you planning to buy puts on ET?!?!
  37. actually retard its not bs, i did myself in one of my accts
  38. I just made 3 ticks on the overnight session.

    i should start a new thread

    and then charge millions to follow me

    and write book

    and be a guru
  39. You mis-read what I wrote.

    I said it's BS if you think it's not an -hard- feature to do.
    Do not get me wrong it's possible, but hard.
  40. I guess to each his own. I expect 2 - 3 blowouts a year, and each will be about 90% of my bankroll. Since I withdrawl each time I double, I have the reserves ready to re-post when necessary. Not a big deal.
  41. already are => worstguruever. congrats on friends in low places
  42. usually what happens is people who do start making money real fast from a low acct level blow it b/c they happen to be in the mkt at a hot time when anyone with a pulse can make money so when things slowed down they took the same risks and ended blowing it all, i personally know 2 people that went from a few k to 100-150k in about 4 months then blew it all a few months later
  43. Ignored a stop? 5% is not 50% :)

  44. respectfully have to diasgree..... The ony way to see how a strategy really works is to run it live (on small size of course). you can backtest your life away, but youll never know till you actually get in.

    This trader on the other hand, needs to take step back and work himself out first though....
  45. trading is 80% mental and 20% system. few points of advice- work on your psychology, dont revenge trade, when you lose 10% of your account stop for the month and sim trade to improve your system, you will never have all winners so don't shoot for that. I personaly after 15 months of trading live and switching to sim when i keep losing have brought my win % up to about 85% now but i also spent 3200 hours last year trading and refining and losing lots of $$$. take 1 step forward and hopefully 1/2 step back and you'll be on track to be a good trader. just remember its all psychological. Work out your negative energy from your life and move forward. Live on the hard right edge and you only learn when you put on a trade live.
  46. You just need to withdraw $100 and go play 2+ hands of 3 card poker.

    If you can beat Q-6-4 then raise!

    If not you fold :(

    Worst case you lose $100 and realize how insignificant it is.

    Best case you run it into $500 and have a few drinks with the half naked cocktail waitress :)