Mark Cuban breaks one of tradings golden rules

you NEVER add to a losing position.

http://video.cnbc.com/gallery/?video=3000096105&play=1

 

Have you heard of "building a position"?

 

Your IQ doesn't increase as you make lots of money. Dumbass trade. Got what he deserved.

 

http://investmentxyz.blogspot.com/2006/05/cubans-collar-anatomy-of-famous-trade.html

Cuban is one of the biggest hypocrites out there. He preserved his fortune on the backs of market makers and traders who provided him liquidity on his Yahoo collar, then proceeds to speak out against them.

http://blogs.wsj.com/deals/2010/08/24/why-mark-cuban-hates-the-stock-market/


Why this guy doesn't get called out on tv is beyond me. His rhetoric makes me sick

 

Your winning trades are facilitated on the backs of market makers or other traders providing you liquidity. And you are also entitled to speak out against whoever may be on the other side of your trade, whether it be true statements or unfounded ad hominem.

 

Very difficult getting it right on first shot. That's why they have artillery spotters.

 

I thought from the title that he didn't post his entry at the EXACT time of trade on ET...must be fake

 

Yup, he also wants a FTT to "tame" the market. LOL, if there was an FTT with his yahoo deal, I guarantee he would not have the same valuation or liquidity to short against his yahoo stock and liquidate it all.

 

I thought it was telling that he went on national TV and said "I was wrong and got out" or something to that effect. How many traders will admit that they are wrong let alone be willing to do it on national TV?

I would be curious if he had a predefined stop or just got out when his pain got too great...

I don't agree with his HFT comments though...

 

Get rid of HFT altogether to keep integrity of the markets..at least you must agree with Cuban here?