NexusFi: Find Your Edge


Home Menu

 





Today, I lost my savings and my career


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one Anagami with 10 posts (53 thanks)
    2. looks_two MiniP with 10 posts (33 thanks)
    3. looks_3 Grantx with 7 posts (36 thanks)
    4. looks_4 Onisowo with 5 posts (0 thanks)
      Best Posters
    1. looks_one captainquenta with 14 thanks per post
    2. looks_two Anagami with 5.3 thanks per post
    3. looks_3 Grantx with 5.1 thanks per post
    4. looks_4 MiniP with 3.3 thanks per post
    1. trending_up 29,769 views
    2. thumb_up 233 thanks given
    3. group 53 followers
    1. forum 110 posts
    2. attach_file 4 attachments




 
Search this Thread

Today, I lost my savings and my career

  #11 (permalink)
trader14
Denver, CO
 
Posts: 39 since Apr 2014
Thanks Given: 78
Thanks Received: 65

I've done a lot of stupid stuff, nothing like this. I too feel for the guy. Sad!

Mentally you know he's devastated as well as financially ruined. A perfect set up to fail, lot's of red flags before the trade was put on.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
Futures True Range Report
The Elite Circle
Exit Strategy
NinjaTrader
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Deepmoney LLM
Elite Quantitative GenAI/LLM
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
GFIs1 1 DAX trade per day journal
22 thanks
NexusFi site changelog and issues/problem reporting
22 thanks
The Program
19 thanks
  #12 (permalink)
 
Pariah Carey's Avatar
 Pariah Carey 
Memphis TN
Legendary E-mini dictator for life
 
Experience: Advanced
Platform: Thinkorswim
Broker: TDAmeritrade
Trading: Futures
Posts: 1,043 since Jan 2014
Thanks Given: 158
Thanks Received: 3,619

Could be worse. Could be like Evan Dooley, who went to prison for trading too much wheat. Gotta lock those people up.

Money make ya handsome
Reply With Quote
  #13 (permalink)
 Nelson111 
Angleton
 
Experience: Intermediate
Platform: ThinkorSwim
Trading: Emini ES, Crude CL, Gold GC, Currency Futures)
Posts: 1 since Dec 2018
Thanks Given: 0
Thanks Received: 1


I was trading GBP when that happened. This lad made several deadly mistakes. #1 was going all in like that. #2 was adding to a losing position. I almost made mistake #3-which was having a manual stop in place. I was REALLY worried that upon the vote being cast, it would SHOOT UP PAST my stop (I was up almost $1000 on the trade...shorting /6B) if the news was being factored into the decline all day. So, right before the vote was read I took out my manual stop and had my finger on the trigger to BUY market...JUST IN CASE. I've been bitten in a fast moving market before when the market moved right over my stop price and I didn't want that to happen this time.

GOOD THING! I was able to get out of it with a small profit. Had I not done that, I too could had had a substantial loss. Now, it certainly would not have been catastrophic because I don't trade carelessly, but it would have stung a bit (especially after being up $1K).

Reply With Quote
Thanked by:
  #14 (permalink)
 Alexawl 
FORT LAUDERDALE
 
Experience: Intermediate
Platform: NT8/tradovate
Broker: Ninja Trader
Trading: ES Emini
Posts: 18 since Dec 2018
Thanks Given: 73
Thanks Received: 18

Holy crap, I thought I messed up by loosing $1300 in one day by not following the rules and adding to loosing trades. Learn from the mistakes but I will never trade any amount that I would not be willing to loose. Not saying that I want to loose any amount but I do have a hard set daily loss limit I will never again break.


Sent using the NexusFi mobile app

Reply With Quote
  #15 (permalink)
 kanepa 
philadelphia pa
 
Experience: Intermediate
Platform: ninja
Broker: NinjaTrader Brokerage
Trading: es
Posts: 202 since Jul 2017
Thanks Given: 348
Thanks Received: 409

It takes time to recognize it but this can be a very a positive and pivotal point of that trader's life. Deeper and bigger the rock bottom is, greater chance to create a solid fundamental ground. After denial and anger subsides a bit, hope that person has a chance to take a look at things surrounding him to be thankful.

failing at a one task do not make the person a failure.

Visit my NexusFi Trade Journal Reply With Quote
  #16 (permalink)
Onisowo
Ocala, Florida
 
Posts: 104 since Jan 2019
Thanks Given: 69
Thanks Received: 41

The fact he posted it is nutz!
He is a gambler!

Sent using the NexusFi mobile app

Reply With Quote
  #17 (permalink)
 Grantx 
Reading UK
Legendary no drama Llama
 
Experience: None
Posts: 1,787 since Oct 2016
Thanks Given: 2,826
Thanks Received: 5,058


Onisowo View Post
He is a gambler!

Sent using the NexusFi mobile app

Arent we all...

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #18 (permalink)
Onisowo
Ocala, Florida
 
Posts: 104 since Jan 2019
Thanks Given: 69
Thanks Received: 41


Grantx View Post
Arent we all...

Not me anymore.

Reply With Quote
  #19 (permalink)
trader14
Denver, CO
 
Posts: 39 since Apr 2014
Thanks Given: 78
Thanks Received: 65


Onisowo View Post
Not me anymore.

Same here.

Only when I have an edge.

Reply With Quote
Thanked by:
  #20 (permalink)
 
MiniP's Avatar
 MiniP 
USA,USA
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES,
Posts: 1,157 since May 2017
Thanks Given: 1,109
Thanks Received: 2,943


its all gambling to an extent, the whole point of an edge is to put things in your favor slightly but there is still a probability that you are wrong.. probabilities = gambling.

-P

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:




Last Updated on December 9, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts