Ok, can I lose it for you. Holy crap!!!!! There I feel better! I have no doubt you will make it back. Wow, you could have given it to me to get back into the equity side of business. lol
Hello TheAngryHermit, "MonkeyBalls", yes I think that about sums it up. I hope things are going well for you. Its great to see your progress in your trading. I very much respect how you keep the size manageable while you gain experience. Thanks for taking the time to post on this thread. Very cool of you Best to you Robert
I was in amazement watching Bob's p&l in last several month until a few month ago he had $50k lost in one day. I said to myself this is not the way I want to trade, I will never ever hold a position over night. I would exam if this kind of sudden big loses is systematic or accidental, and reflect on the strategy.
Hello Nattdog, Thanks for posting and taking the time to say so. one step at a time for this trader and I will report how it goes Thanks and best of trading to you Robert
Hey Jack, Great trading by you lately. Its been impressive. I do agree that the pounding of our faces in the pavement is something we all go through. I like to think that I am better after reaching the otherside and better for making it through intact. Respectfully Robert
Hi Zen, Thanks for taking the time to make a post. Seems like you been busy with over a hundred posts in your first month on ET. I hope your trading is going well. Its good advise for many but I don't think I am ready to write up a resume and start looking for a job quite yet. I have also been kicked into the dirt before and believe theres a lot to be said about picking yourself up and NOT quiting just because you experience some setbacks. so I plan on posting tomorrow and the day after my results win or lose Respectfully, Robert
Until you are in a position to do that size trading yourself, I would refrain from making judgment and/or proclaiming what you would or would not do. I don't know of anyone that has been wildly successful in trading that hasn't gone through some serious rough patches along the way. It's the way you learn. You make a couple grand a day in and out and you will become overconfident and not learn how to deal with the massive curve balls that get thrown your way. The best trader I know - whom I worked for prior to going on my own - summed it up like this: "in order to make millions, you've got to lose hundreds of thousands." I thought I knew what he meant back three years ago when he said that to me, but I am really learning that along the way now. Your post in indicative of the fact that you most likely don't trade anywhere near the size Robert does - and most likely you're still paper trading. The dude had a rough day. Posting it on this website and living up to it takes some serious balls. If you get off on kicking someone in that type of situation, well then, there just ain't much to say. The guy has had this blog going for a while and a lot of people have probably learned something from it. Learning is the key: whether it be from a good experience or bad. Hang in there Robert - this market is relentless and I guarantee you that you are not the only one experience the adverse effects of it. I wish ET had an emoticon to give people the finger!!
Bob, You are one helluva kickass trader to take the LEH, ANR, HAR hits and end up so significantly profitable. FWIW, end the day flat. These overnights don't seem worth the risk. Has it always been this way? Enjoy the rest of this earnings season, I know you'll bury this day quickly with profits. NoD
Hey Mike, Well thanks for saying it here. Very kind words indeed. Mad badger and I were talking about this trade on and off for much of the day and how surreal it was during the open. I think I often make the right choices in those pressure cooker situations but this one basically gave me a choice. Continue to short into what I believed was a false buyout and risk getting wiped out if wrong or cut my losses and fight it out another day. I can look at the press release and point out all the defects now (poor Mad Badger had to listen to me point them out more than once today) but in the heat of it I simply was not wiling to risk it as I already put myself there The fact remains that I have to focus on the next trade and let it go because I NOW need the money and can't let a good one go by without getting it : o ) So really I didn't have much choice but to keep on fighting and make some of it back as the day went on....LOL Also after having the honor of Mad driving up to see me I had to show him I actually could make a good trade Thanks again Mike and thanks for being a valuable asset to the chat room!! Respectfully, Robert