Discussion in 'Trading' started by Momento, Sep 14, 2005.

  1. Momento


    Thank you all for your kind words.

    For those of you who are interested on how exactly did I lose most of that money, well, like I mentioned in the beginning, it was from churning discretionarily QMs around the $70 level... Until then, I traded mechanically with only slight discretionary plays at market open and close. It worked for most part, ... until I got too attached trading Crude.

    Frankly, I don't know what's next, with an account at $10k... it would be hard to try and make a living trading. Mind you, I started with over $50k initially and built it up. So trading with this capital is a real unknown ground to me. Therefore; at this point, I would be better off not to hope for a miracle.

    now.. I just don't know how to spend my days. The past few days seem so long....
    #11     Sep 15, 2005
  2. tomcole



    We've all been there, yesterdays action in QM was a brokers dream -- hit all the long AND short stops in 10 minutes.

    IMHO, if I may make a suggestion, you may want to re-read what Jesse Livermore once said about losses -- view them as paying tuition and learn something. Otherwise you're just a sucker who got rooked.

    Somehow, I think if you really wanted to top up your a/c you could. Maybe spend a few months relaxing and thinking -- go on vacation, relax and come back -- you'll feel better. I'd also look around you and which people are naysayers and get you down then STAY THE HELL AWAY FROM THEM. I find the naysayers the absolute worst to be around.

    Happy to continue this in PM if you think it'd be helpful.

    PS -- If some jerk puts up a post saying they took your money, just slap them silly. You'll feel better for teaching them not to lie.
    #12     Sep 15, 2005
  3. ozzy



    I feel your pain. All I can say is don't let the market spit you out so easily. You built your account up once and can do it again.

    #13     Sep 15, 2005
  4. volente_00


    Take a break and get your mind of trading and back on to what is important in life. The market will always be here for you when you return. Sometimes the market gives us all a reality check in order to let you know where you stand with it.


    once you hit rock bottom, there is nowhere to go but up.
    #14     Sep 15, 2005
  5. Momento,

    If you started with just over $50,000 about five years ago and built your account up to over $300,000 while consistently drawing monthly "paychecks," as you say, then you have no business quitting. Notwithstanding some recent boneheaded trading (with which anyone who has traded for any length of time has a personal familiarity to one extent or another), you have proven yourself to be far better than a substantial percentage of the people who try their hand at this game. Taking time off, or even an extended leave? Sure. Absolutely. But quitting would be a considerable waste of experience and ability. Unless you have lost your taste for the game and have found something "better" or more fulfilling to do, I would suggest that this is where you belong. In any event, right now is probably not the best time to make any life altering decisions.
    #15     Sep 15, 2005

  6. It's during the worst moments in life when we get to define who we really are. It's not what happens as much as how we react to it.

    Take a break, distance, relax, reflect,...the answers usually appear........

    Good luck.
    #16     Sep 15, 2005
  7. hi momento

    I did that once ... banging out ZB intraday 1-2 tick losses trying to scalp or "read the order book" for the next momentum tick ( ARGH )during some crazy revenge trading period when a close friend of mine was in a hospital a few yrs ago

    I think I only lost 5K a week for a few weeks
    but it was as if I did not care about the money
    my mind was elsewhere

    hope things turn out ok for you

    #17     Sep 15, 2005