Im not sure if I feel stupid for saying this, but this guy might be a better trader than me, even if its just intraday. I've read his site and what he says makes sense, he just made a mistake, and he shared his humiliation. I cant trade the futures worth a damn, so I never would have had anything to lose, like most futures traders. Hes good, and I think there will be a time when the laughing is on the other side. And yeah, I laughed my ass off at the video. Totally been there emotionally. 8s
It was too late this time for this one, but since youtube has a penchant for deleting videos, keep this link handy: http://tubemall.net/undeletube.php
http://www.break.com/index/stock-future-trader-gets-slammed.html I love the first line, "This is the face of shock and awe."
Ok I donât feel so bad that I lost $ 60 today Seriously I can relate with this poor guy and do not think this is funny at all. $ 27,000 in one day ?? I would probably have a heart attack. He is young and can hopefully recover from this.
thanks a lot for the link. to me, it actually wasn't really funny- as i've been there. this right here is exactly why most traders will tell you that you have to blow up once to be truly successful. the averaging down works and works, holding out for a bounce works and works.... until it doesn't- then, shock and awe. then, if you have any assets left, you fully appreciate the terms 'money management', cutting your losses, and 'stop loss order'. i had a similar awakening in august when i dropped ~40% of my account over 5 trading days devoid of discipline. took a couple of months, but i made it back, and i can honestly say that i now feel i am lucky that it happened- i'm a far better trader for it.
Another blogger blowing out, I think he has more money in the wings, I guess the dollar amount is personal to each person and where they are starting from, and if they ever worked at McDonalds lol. http://www.dehtrader.com/index.php?/archives/697-MAX.html