you can all laught at me- I BLEW UP

Discussion in 'Trading' started by NY_HOOD, Sep 7, 2007.

  1. NY_HOOD


    today i finally blew up or came pretty damn close. some will laugh and some will not care but i am posting for the heck of it anyway. i was up and then gave everything back and then some. why" necause i was up 400 and needed another 600 to pay some bills.its a never ending sage with me and i just don't know if i have the proper discipline to do this. obviously i am extremely upset about my current situation and don't know what the heck to do. i have no other skills(not that i have any trading skills) and i have a family to take care of. i am actually nervous but i have to do something.
    i know someone is going to tell me to stop complaining and i fully understand.i'm just venting because some of you may have been in a similar situation and underdtand. anyway,i hope none of you guys get to where i am,its a horrible feeling and none of you deserve it.
  2. Hey, I'm down more than you I bet if it make you feel better. Today, my positions went up only $1800 but I'm down big time this year. Hang in there!!!!!!!
  3. NY_HOOD


    it does'nt make me feel better. i don't like to see you lose money either bro,i'm serious. you're probably a nice guy. i feel absolutely worthless right now.
  4. Walk away and get a job, it would be the best thing to do. Don't look at the market nor follow it once you're at a new job. I blew out around 2002 and only came back around late 2004. It was the best thing for me as I did not feel the need to make back what I had lost which allowed me trade with a clear mind.

    It's still a learning process up until now but blowing my account out is out of the question.

    No skills? go to school or get certified in something.

    I do feel bad for you, good luck and hope things get better for you soon enough.

    FYI, the account I blew out was around $80k back in 2002. that truly hurt. Complete withdrawal from the market was what kept me sane afterwards.
  5. I know the feeling man, trust me. I know lots that blew out six figures or more in 1999-2000. Greed is not good sometimes.......
  6. LT701


    whenever I 'need' money from the market, it always takes it from me

    jesse livermore stated this years ago, and i'd be wealthier today if i'd never forgotten it

    "There isn't a man in Wall Street who has not lost money trying
    to make the market pay for an automobile or a bracelet or a motor boat or a painting. I
    could build a huge hospital with the birthday presents that the tight-fisted stock market
    has refused to pay for. In fact, of all hoodoos in Wall Street I think the resolve to induce
    the stock market to act as a fairy godmother is the busiest and most persistent."
  7. hsmc1970


    Take some time away and reevaluate I know the feeling you have it can be dark and lonely but you can rebuild yourself.

    Look in a different direction and get some goals to work at.

    I would stay away from trading so you can rebuild yourself emotionally.

    I know its a dark time for you right now a lot of people go through it but you can come out on top.

    It took me a while to become a good trader many dark times

    Right now everything can look hopeless but give yourself some downtime and solutions will appear mabye look to a different area get some new skills.

    You can always come back to trading it will always be there but the 1st thing is to rebuild your confidence take small steps.
  8. there isn't a sane person on ET who doesn't know exactly the pain of BLOW UP

    if anyone shows up and claims differently

    you can bet your ass, that person isn't a real trader

    OR didn't blow up yet :)
  9. OH MY GOD I JUST remembered


    this advice really helped me

    tell yourself

    I will figure it out eventually, remove the time pressure, you will feel much better and think better
  10. In order to learn and get better over time, the key is staying in the game at all costs. Sorry to see you go, hopefully you can find somebody willing to stake you.
    #10     Sep 7, 2007