Seriously. forget the phonies who post doctored screenshots and millions in profit. Tell us how you lost big money today, and maybe we can help you not do it again. maybe not.
Actually, I slept thru the whole day, LOL I bought Puts on the Indexes and Crude on Friday, it was so easy to see the writing on the wall, only the uneducated who don't study past history of the markets past 80 years lost their asses and of course the greedy. I never day trade when there is this much volatility, the nite time offers a little more calmness for some easy trades. Stock777, I hope you did well, you an older trader.
I've lost a fair amount in the past week or so. I'm long GLD with about 1/3 of my investable assets, so my losses have been muted, but I'm also long VTI and RWR.....OUCH!
5 years ago I would've lost my shirt today. I recognized that fading a US downgrade was not a good idea... I had bids only around 1100. Patience and super low bids when trying to catch bottoms on hard momentum. I went long Thursday (ES) on the close and sold on the unemployment news (10 pts) Friday morning. I called a bottom mid-day on Friday too... it was luck that I got out. Had I held for the weekend I would've gotten my face ripped off... probably would've bought today's open to average in.
My long term SPY holdings are red. I don't use stops on investments. In fact, if it drops below 100 I will add identical size and even more below 70. Otherwise continue to hold intact. Here's a screenshot of the damage so ET can laugh at my unrealized red and the buy and hold strategy. I don't care about the panic, I call it opportunity, indices don't go to zero, no matter how much the world or media is scared. All unleveraged which is the key. FoN
i can post my PnL for today,but what's the point? only to hear same bs again that it was fake? i'll pass.. oh..it's a losers thread..sorry...
Been short so today was a nice up day for me, however I have to admit I am long TNA and UWM as of last week and down pretty big, Im looking to sell my Short etfs, TWM, TYP and SSG and averaging down on UWM, and adding new positions to TYH, ERY and URE. I think there is going to be a substantial rally soon, however it wont last, sell into any strength moving forward......Im still extremely bearish on this market, whats happening now should have happened months and months and months ago. I'm quite surprised the rally lasted 2 years, this time around BUBBLE ben bernanke can throw all the QE he wants at the market and its not going to do a damn thing. This market along with all markets around the globe are broken, they have been broken and will stay that way for a long time. I'm still waiting for all those money managers to come out and still place a 1350-1500 handle on the SPX by the end of the year, now that's fucking hilarious!
Marketsurfer lost 60K based on the 3 trades he posted in his journal. He was trying to catch the falling knife. There was another trade which other ET members say he quickly deleted, so his losses were probably much more than that.