4k trading ES...revenge trading newbie relying on laggin oscillator(ehler at that time with wrong settings).
Incredible how one just zones into the screen and just keeps on trading like a OCD monkey. Guilty as charged. As they say this is a mental game,so true. One needs to pass through like a 12-step program to program the mind before starting on this endeavor,if not most fail. And statistics dont lie.
Last edited by neilzep; February 3rd, 2011 at 07:11 AM.
The following user says Thank You to neilzep for this post:
$12,500, got a margin call on March 8th, 2009 I was long the market by being short naked calls in the FAZ (so I was short calls on the 3x financials bear ETF) which had major premium to sell. The next day (Mar 9th), the market turned around in my favor and never looked back. Haven't made an options trade since.
I lost $1250.00 in 1 day doing the 6E in May of 2010; it was a sobering experience. The bad thing was I had a loss limit of $500.00, what a meat head I was for breaking my own rules. I have not exceeded a $500.00 beat down since then.
1% of my trading capital trying to fade a rally I was just soooo certain was going to top out and tank. It was nasdaq futures and 1% is my hard cap for loss in a day so I'm not allowed to lose more than that. I've done it 3 times... that was then. It will never happen again. Now I try to limit down days to 50 basis points.