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Video of a Trader Loosing 30K Live!
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Video of a Trader Loosing 30K Live!

  #21 (permalink)
Market Wizard
virginia
 
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GridKing View Post
There was a gap down with Sunday open of like 3 - 500 points down in Dow if I remember correctly, looked like the sky was falling in futures ( and I think markets were closed monday, don't remember exactly, was ugly for a bit, think it came back after that though )

you have a good memory yes, market limit down was activated. the most funny thing was another women trader pm me asking her broker just told her limit down is in affect so what is limit down and what is my advice. I told her to get out if she can but she was telling her broker to buy more. So she was right after all.

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  #22 (permalink)
Market Wizard
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forrestang View Post
The whole time I was watching that video, I was thinking, "Just close the trade dude!"

Was he in some type of a limit move and couldn't exit or something?

i had been in his shoes, it goes like this if it was -29k may as well wait for -30k. the inner dialogue was you are so dumb you deserve a big punishment.

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  #23 (permalink)
Elite Member
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cory View Post
i had been in his shoes, it goes like this if it was -29k may as well wait for -30k. the inner dialogue was you are so dumb you deserve a big punishment.

I had such a trade, my very first week of trading, but it was -$6k for me over the course of 3 days. I kept buying more shares of the stock as it sold off, until I got to my maximum pain threshold. Didn't sleep for the entire 3 days. And low and behold, 30 minutes after I took my $6k loss, the market shot back up and never looked back. It was painful, but I'm glad I learned my lesson early. That's when I decided I needed to learn the markets more, and I should be learning it in sim.

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  #24 (permalink)
Membership Temporarily Revoked
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Warren B. View Post
$30.000 seems much for him and he didn't look as if he reckoned that possible loss or even think about it.
What should this guy teach us ? How to fail with a single trade ?

There are a lot of those amateurs out there with a compulsive craving for recognition.


I also remember when this happened, it was pretty widely posted around. I think his blog was somewhat popular at the time.
The lesson is what not to do risk management wise, as his was obviously laughably bad.

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  #25 (permalink)
Elite Member
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Reminds me of my days before autotrading.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #26 (permalink)
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liquidcci View Post
Reminds me of my days before autotrading.

@liquidcci, would you agree to put on a futures.io (formerly BMT) webinar in September going over what you feel are the important aspects of auto trading?

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  #27 (permalink)
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Big Mike View Post
@liquidcci, would you agree to put on a futures.io (formerly BMT) webinar in September going over what you feel are the important aspects of auto trading?

Mike

I may be interested but would want to make sure I have enough to say to be worthy of a webinar. So I will write down a few thoughts of things I feel are important and evaluate to see if translate well into a webinar. Thanks for asking.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #28 (permalink)
Urban Samurai
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liquidcci View Post
I may be interested but would want to make sure I have enough to say to be worthy of a webinar. So I will write down a few thoughts of things I feel are important and evaluate to see if translate well into a webinar. Thanks for asking.

Even if it weren't necessarily an ATS type thing, do you think you could speak to the idea of becoming more systematic or objective about trading?

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  #29 (permalink)
Elite Member
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forrestang View Post
Even if it weren't necessarily an ATS type thing, do you think you could speak to the idea of becoming more systematic or objective about trading?


forrestang if I do something I would definitely want to incorporate some of my journey to moving towards systematic trading. My failures and how I was able to overcome them via moving to a system is what I feel like could help people the most.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #30 (permalink)
Trading Apprentice
United Kingdom
 
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Unfortunate for the guy, not fun to lose

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