futures trading horror stories - Off-Topic | futures io social day trading
futures io futures trading


futures trading horror stories
Updated: Views / Replies:1,526 / 6
Created: by userbaseww Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

futures trading horror stories

  #1 (permalink)
Trading Apprentice
Maineville ohio
 
Futures Experience: None
Platform: TradingView
Favorite Futures: CL, ZW, NG
 
Posts: 1 since Dec 2017
Thanks: 0 given, 1 received

futures trading horror stories

what i want this thread to be about is not necessarily the volume of the money that was lost, but rather how important the money was that was lost

for example if someone had 50k to their name and they lost 45k, i would consider that to be a horror story, meanwhile if someone lost 200k but had 4m that's just par for the course.

personally one of my relatives said that someone from her church was fired from being the president of a certain corporation because he was trading futures with company retirement funds and was losing

Reply With Quote
The following 2 users say Thank You to userbaseww for this post:
 
  #2 (permalink)
Trading Apprentice
London Canada
 
Futures Experience: Intermediate
Platform: Track and Trade Pro
Favorite Futures: grains
 
Posts: 5 since Dec 2017
Thanks: 1 given, 5 received

Not a full blown horror story

Well, I know mine isn't a big horror story....started with $4000....built it to $15,000 in a few months...and then lost $13,000 due to being lazy and relying on a broker who was needing to get commission and just needed to make trades. My own fault...but has stopped me from trading again for quite a few years. Slowly starting back into it now.

Reply With Quote
The following 3 users say Thank You to Wrecker for this post:
 
  #3 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,497 since Dec 2013
Thanks: 2,031 given, 4,303 received
Forum Reputation: Legendary


Interesting question, surprised it didn't get many responses, but then you did post it in a weird location. @Big Mike any chance you can move this to say "Traders Hideout?"

I don't have any catastrophic trading stories of my own but I did participate on the winning side of several catastrophic trades. My first ever proprietary trade was when I convinced my then Boss to allow me to buy spread option puts on the prompt month crude oil spread. It was the early 1990's and Metallgesellschaft AG was implementing a hedging program that eventually lost over a billion dollars which was a lot of money back in 90's. I was also very active in the NatGas market in 2005 & 2006 when Amaranth grew explosively before blowing up and losing $6 Billion. While I can't claim to be a big winner on any one trade, I was market making back then, and Amaranth/Hunter were a bull in a china shop so it was quite easy for the nimble market maker to consistently make decent money off of them.

Personally my worst trade ever was probably being short Netflix (At least I think it was Netflix) call options in my personal account back in early 2000s. I was down on the position and rolled them out, up, and larger to cover my losses. I then went on vacation and came back to a loss of almost $20k. That's the closest I ever came to blowing an account up.

Another nightmare trade of mine also involved selling calls, but this time it was more of a terrible tax/cash flow problem rather than a trading loss. In the internet stock boom I sold a lot of calls against stocks that I owned (long stock + short call = short put) and when the market crashed I ended up with large gains on the short calls, and another not quite as large loss on the stock. So I was PnL positive. The problem was that I was stupid enough to have the call profit gains fall in one tax year and the stock losses in the following year. So I ended up with a tax bill on the calls, but had to take the stock loss over several years due to the capital loss cap.

Since being out on my own, my only nightmare trade was loading up an algo with the wrong instruments. The second it was switched on it immediately executed a trade that was about $70k out of the money. I called the exchange to get the trade classified as an error (even with the no-break limits it would have cost me about $20k including reversing the trade) and amazingly the counterparty agreed to clean cancel the trade given that it was obviously an error. Whoever you are, Thank You.

Reply With Quote
The following 5 users say Thank You to SMCJB for this post:
 
  #4 (permalink)
Elite Member
Westmount Canada
 
Futures Experience: Advanced
Platform: XTrader
Favorite Futures: FGBL,ZN,ZB
 
Posts: 9 since Jan 2016
Thanks: 5 given, 5 received

Well, around 10 years ago, I entered a bunch of trades just before durable goods was coming out. But somehow i hit the middle scroll button on my mouse and changed all my orders from limit to market. I ended up buying 15,000 Eurodollar spreads at market. I had to keep them through the number because liquidity completely dried up. Fortunately i managed to get out flat (except for the fees).

The next day the CME sent an email to all market participants warning them about this "feature" on TT

Reply With Quote
The following 2 users say Thank You to ScalperBAX for this post:
 
  #5 (permalink)
Elite Member
New York, NY
 
Futures Experience: Beginner
Platform: thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: Stocks
 
Posts: 963 since Jul 2012
Thanks: 648 given, 1,970 received

I agree, this is an interesting question.

I know a couple of guys who needed the Federal Reserve to bail their firm out. Fortunately, I don't have any horror stories by that standard.

One of my worst was because someone (on a workstation) had the wonderful idea to code up F2 to the front-end kill switch with no other safeguards and it passed code tests and escaped our attention. Then came one day, one of our operators took over the night session and, justifiably, it was a little darker so he pressed the screen brightness key on his Macbook.

Reply With Quote
The following 3 users say Thank You to artemiso for this post:
 
  #6 (permalink)
Elite Member
Pittsburgh
 
Futures Experience: Advanced
Platform: Ninjatrader
Favorite Futures: ES, GE, M6E
 
Posts: 77 since Jan 2018
Thanks: 79 given, 299 received


ScalperBAX View Post
Well, around 10 years ago, I entered a bunch of trades just before durable goods was coming out. But somehow i hit the middle scroll button on my mouse and changed all my orders from limit to market. I ended up buying 15,000 Eurodollar spreads at market. I had to keep them through the number because liquidity completely dried up. Fortunately i managed to get out flat (except for the fees).

The next day the CME sent an email to all market participants warning them about this "feature" on TT


Whoa hold on dude....I was trading that market at that time....remember any other details...what spread etc....honestly I think I very vaguely remember it happening! Sorry about your luck.

If you were active in the spreads back then...any chance you remember the RELENTLESS selling in the red month's spreads every single NFP for awhile? I believe that began in '09.

Or was that you too?

Reply With Quote
 
  #7 (permalink)
Elite Member
Westmount Canada
 
Futures Experience: Advanced
Platform: XTrader
Favorite Futures: FGBL,ZN,ZB
 
Posts: 9 since Jan 2016
Thanks: 5 given, 5 received

09 was pretty much the end of the ED market for me. Too many algos keeping the curve in line which very much limited trading opportunities.

Reply With Quote

Reply



futures io > > > futures trading horror stories

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

September Journal Challenge (sponsored by TopstepTrader)

September

Free Elite Membership: Twitter Tuesday and Facebook Friday!

Tue & Fri
 

Trading with Python: Using Machine Learning w/Ran Aroussi [12:30PM ET]

Elite only

TopstepTrader (TBD)

Sep 25

RandBots (TBD)

Sep 27

Anthony Drager (TBD)

Oct 4
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
stories of lack of justice aquarian1 Off-Topic 10 July 24th, 2018 05:02 PM
Live to Sim observations/stories nourozi Traders Hideout 2 December 16th, 2013 11:35 AM
Success Stories unerwünscht ? Daytrader999 German Traders 24 January 20th, 2013 03:26 PM
Are Stocks About to Repeat Their Summer Horror Show? Quick Summary News and Current Events 4 June 2nd, 2012 03:53 AM
Trader's Edge stories Big Mike Feedback and Announcements 15 July 21st, 2010 07:46 PM


All times are GMT -4. The time now is 09:50 PM. (this page content is cached, log in for real-time version)

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-09-18 in 0.15 seconds with 14 queries on phoenix