it was a rainy day in april, i was only trading the big s&p. i was short and was short 10 cars with enough profit that i moved my stops to where i entered. I thought all was fine for the day. I was on a cruise ship enjoying my hotdog and diet coke then a call. greenspan had made a surprize cut in interest rates. i lost $60,000 in SLIPPAGE. i quit trading the bigs shortly after that and learned how to electrically trade the eminis. I was in shock and sick to my stomache every time i thought about that day for months. pat.
Everything... 100% First time, Corn on May. 1997 Second time, Gold on Dec. 1998 Losing it all twice is prolly the best lesson I've had...
I saw a genius lose $400k in a day and about $2M in about two months... all firm money. It is unknown whether he eventually quit or was fired. Either way, he never seemed to give a damn.
There are some big numbers here. How did you all get to the stage where you can lose 100k in a day? Through trading or other professions/businesses?
Through trading. You know though it's an irrelevant meaningless statistic, good to read through this for a bit of fun and that's all. The reality is that one day really doesn't matter, you have to look at how you do over the long run.... i.e. years. Bad days are part of trading, the important thing is to make sure it's not so bad that you are out for good.