screwed up, lost half of account in one week - Psychology and Money Management | futures io social day trading
futures io futures trading


screwed up, lost half of account in one week
Updated: Views / Replies:7,718 / 64
Created: by tripanasoma 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 90,000 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 Ė 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 donít 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
 

screwed up, lost half of account in one week

  #1 (permalink)
Elite Member
Munchen
 
Futures Experience: Intermediate
Platform: Metastock
Favorite Futures: Futures
 
Posts: 43 since Jan 2015
Thanks: 17 given, 14 received

screwed up, lost half of account in one week

I lost half of my account in a week that I collected in ten years time in futures trading. I feel ashamed and can not even look at my wife's face. Was fun to be with you here. Could not make it.


Last edited by Big Mike; January 9th, 2015 at 12:05 AM.
Reply With Quote
The following user says Thank You to tripanasoma for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Market Wizard
Germany
 
Futures Experience: Intermediate
Platform: Other
Favorite Futures: ES, YM, 6E
 
Posts: 2,644 since Feb 2013
Thanks: 4,904 given, 6,441 received
Forum Reputation: Legendary

Stops, being right, revenge and distance

Answer
This post has been selected as an answer to the original posters question Answer


Give yourself a rest to get some inner distance to trading and
to the factors that caused you "being on tilt".

Life is not about how often you stumble and fall,
but about how often you stand up.

+ You still have half of your account.

Reply With Quote
The following user says Thank You to choke35 for this post:
 
  #4 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,220 since Jun 2009
Thanks: 628 given, 6,318 received
Forum Reputation: Legendary


tripanasoma View Post
I lost half of my account in a week that I collected in ten years time in futures trading. I feel ashamed and can not even look at my wife's face. Was fun to be with you here. Could not make it.

Is that on your mechanical system? make sure the parms are still valid for today environment.

Reply With Quote
 
  #5 (permalink)
Elite Member
Munchen
 
Futures Experience: Intermediate
Platform: Metastock
Favorite Futures: Futures
 
Posts: 43 since Jan 2015
Thanks: 17 given, 14 received


cory View Post
Is that on your mechanical system? make sure the parms are still valid for today environment.

No i did not start it yet. After 2 big losses I got I decided to make a mechanical one. I am discretionary trader. But after all these mess thinking to return stock trading. Much more safe.

Reply With Quote
 
  #6 (permalink)
Membership Temporarily Revoked
Calgary Alberta/Canada
 
Futures Experience: Advanced
Platform: TDWaterhouse
Favorite Futures: stocks (long term)
 
Posts: 934 since Feb 2014
Thanks: 180 given, 777 received


tripanasoma View Post
I lost half of my account in a week that I collected in ten years time in futures trading. I feel ashamed and can not even look at my wife's face. Was fun to be with you here. Could not make it.

you cannot make major decisions right now... with half your account still available you still have time for recovery. But you are not thinking good right now. Stocks right now are definitely not a safer alternative...Until Oil settles down stocks you think are good fall out from under you at least that is happening to me right now.

Let the markets settle down... let you settle down.... when you are ready then study why you went wrong .... make a few pretend trades and as you gain confidence re-enter.

chill out for now though is my advice....good luck

Reply With Quote
The following user says Thank You to Underexposed for this post:
 
  #7 (permalink)
Elite Member
Calgary, Alberta
 
Futures Experience: Intermediate
Platform: NinjaTrader 8
Broker/Data: Kinetick
Favorite Futures: ES
 
JonnyBoy's Avatar
 
Posts: 938 since Apr 2012
Thanks: 378 given, 1,837 received


Underexposed View Post
you cannot make major decisions right now... with half your account still available you still have time for recovery. But you are not thinking good right now. Stocks right now are definitely not a safer alternative...Until Oil settles down stocks you think are good fall out from under you at least that is happening to me right now.

Let the markets settle down... let you settle down.... when you are ready then study why you went wrong .... make a few pretend trades and as you gain confidence re-enter.

chill out for now though is my advice....good luck

I agree. You have half your account still available so recovery is totally possible. You need to find a quiet place, level out, dust yourself off and ease yourself back in.

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
Reply With Quote
 
  #8 (permalink)
Normal Wizard
Sydney, NSW, Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader with Jigsaw DOM
Favorite Futures: CL, 6E, ES, Piano
 
TickedOff's Avatar
 
Posts: 191 since Nov 2014
Thanks: 163 given, 195 received

To have been profitably trading for 10 years is a great achievement in itself. I agree with what the other guys are saying... take some time out and let your mind clear, then see what led to the large loss and take steps to preventing it from happening again. Its not over. If you get back into trading I would recommend having a daily loss limit and sticking to it.

Reply With Quote
 
  #9 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,236 received

Answer
This post has been selected as an answer to the original posters question Answer

Have you been paying yourself over the last ten years from your trading account? If yes then the loss is much less of an issue. If no then trading was just a hobby, and hobbies can be expensive.

Your wife will understand assuming you provide for your family responsibly.

Sent from my phone

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 6 users say Thank You to Big Mike for this post:
 
  #10 (permalink)
Elite Member
Munchen
 
Futures Experience: Intermediate
Platform: Metastock
Favorite Futures: Futures
 
Posts: 43 since Jan 2015
Thanks: 17 given, 14 received



Big Mike View Post
Have you been paying yourself over the last ten years from your trading account? If yes then the loss is much less of an issue. If no then trading was just a hobby, and hobbies can be expensive.

Your wife will understand assuming you provide for your family responsibly.

Sent from my phone


I withdrew when needed but my %99 of investment was in that account.

I will write how I lost it but I can not post links it seems. Will tell you. My strategy is like this: I opt for tight stop and a few times of the stop loss amount for profit target. I use high leverage for this purpose. Daytrading mostly using pivot levels. Very rare I carry to other day. It was a really quiet day. I entered my position and I was thinking I already put my stop also but I was wrong. I forgot or some other things boggling my mind at that time. Market got a huge averse move after my position and next day dropped more. When I checked my account stop loss wasnt there. The other one was revenge trade. Not hard to guess how it ended.

I will not mention her about this. I do not want her to be worried.

Reply With Quote

Reply



futures io > > > screwed up, lost half of account in one week

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     


All times are GMT -4. The time now is 12:59 PM.

Copyright © 2017 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 2017-12-16 in 0.14 seconds with 36 queries on phoenix via your IP 54.91.38.173