i'm warning all to get a real job now and take what you have and run. 97% of the people on et won't be trading in 5 years. the crooked market took all my money. LEAVE NOW OR FOLLOW ME TO WELFARE IT'S YOUR CHOICE
Hedge "King" I think NOT. I'm am in the Top 1% of income earners in the US and I plan to stay that way thru trading. As far as I'm concerned trading gets easier over time, not harder. Now the NYSE has Currency ETF's, I can't wait to trade once they have good volume. I hope more losers like you on ET leave, maybe the good ol guys who left will return. Adios and don't let the Door hit ya. Mac
funny as hell i just looked at all your notes and your big ass loud mouth went a year without posting. i bet you got your ass kicked and lost everything. i got a beer waiting for you you face reality and admit you're broke
Learn from Hedgekings mistakes, but certainly don't take his advice. Something good can come from this. We, as traders, are reminded of what can happen if we fail to follow the rules of good trading. In this sense, he is a wonderful case study on poor risk management, "deer in the headlights" syndrome/lack of discipline, failure to have a plan, and failure to develop a tradeable edge. If you are lacking in any of these areas, you are likely to experience a similar fate. Hedgeking....anyone who was able to accumulate 400k to lose in the first place, does have some talents. The market took your cash, but no one can take those talents away. Clear your head, take stock of your assets, get your confidence back, and get back on track. It is easier to make it the second go round, but you can't/won't do it in your current emotional state. I would strongly suggest you pick up "Get the Edge", by Anthony Robbins, his material will certainly help you navigate these challenging times. Good luck to you!
F-Trader, being in the top 1% means that you deserve alot of repect, you have earned it. Could a newbie piker, trading from home, ask how you are able to do so well? Stocks, futures, options? Prop or not? How many years did it take you to reallly make good money. I hope it's ok to ask as I am a firm believer in modeling success. Have a nice weekend. Dan
Having read the other thread you authored about your recent losses I was quite sympathetic. However this thread shows exactly why you lost your money, in a word you're foolish. According to you, you margined your entire account and put it in 2 stocks and left it completely unattended (no stops, no protective hedging, kind of strange for a guy named hedgeking, ahhh the bitter irony) and now you blame the 'crooked market' for 'taking' your money. The market didn't take your money, to put it in plain english, you simply gave it away.
First of all, I thought this was a Joke since you JUST registered. I haven't posted for a while because I have been building my retirement home on Lake Michigan and I have a real estate business. If you did lose 400k on 2 stocks then you sir are a F'n TOOL. I can't even conceive of a rich idiot who knows nothing about stocks to lose that much money. I've been trading since 1979. I used to work at the CME and the CBOT, in addition I am licensed in Series 7, Series 3, and also life and health ins. I used to work as a Financial planner and was so successful I retired in 2000 when I was 40. You don't even have the basics of how to trade. Where the F did you learn, from Waxie? Even that Wizetrade system would tell you to get the F out when you hit ZERO. You are a degenerate Gambler, period. You will lose your next bankroll, and the next, and the next if you don't learn the rules of this game. Guys like you lose everything and then blame the market. It's too slow, the spreads are too narrow, my trading cost are too high, there's no volatility, etc... Shut the hell up or learn to TRADE, this is NOT some GAME. If you are NOT willing to learn then get a J.O.B. (Just Over Broke) Good Luck searching the Classifieds.
So Hedgeking.....some things about your story don't add up. You had all of your cash in your brokerage account, and kept none in a savings/money market account, why? This just doesn't make sense to me. Everyone I know, who has that kind of cash, keeps 50 or 100k in cash or cash equivalents, to be able to handle any challenges that life throws your way. Care to elaborate?