House of (H)Errors! - futures io
futures io futures trading



House of (H)Errors!


Discussion in Traders Hideout

Updated
    1. trending_up 2,834 views
    2. thumb_up 3 thanks given
    3. group 2 followers
    1. forum 3 posts
    2. attach_file 1 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

House of (H)Errors!

(login for full post details)
  #1 (permalink)
Lisbon
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus Futures / Zen-fire
Trading: Es
 
FredyMegaG's Avatar
 
Posts: 59 since Dec 2009
Thanks: 19 given, 44 received

We need a thread about the biggest errors we make, and the outcoming result...
I give you, the House of Errors.

This is intended for three reasons:
  1. I wish to help other traders by exposing my stupidity in ignoring thumb rules, and hope they interiorize and learn from my mistakes, to prevent from trying them themselves!
  2. I want to expose both my errors, and other people's errors i havent made yet, for discussion in the forum, to understand why i made them, and how to prevent from repeating them!
  3. I want to know that other people also make similar and dumb mistakes, so that i dont feel as bad as i feel now....
Please post your most stupid actions while trading, and the outcoming result! Remember this is helping other traders and YOURSELF as well!!

You can also add how you managed to stop doing it..



I'll start off, to break the ice, as today I am the undefeated title-holder KING of thumb-rule's breaking:

The past week, Ive been cool, unstoppable, earning either 1,5 , 2 or 3 points everyday, trading 1 ES contract.

Yesterday, I had a car crash... as a dumb f*ck almost killed me when i was stopped at a red light... Both our cars were ruined.. And im pointing that my car has no recovery, so i'll end up paying myself for most part of a new one...

RESULT: Even tough im trading a small account (ie: around 6000$ to 7000$), ive decided to scale up to 4 contracts...
Cant say what i was thinking, but i guess i felt i had to make money quickly today... and that things were working out with one contract....so..same for 4...WRONG!

First loss....! Cant believe it... Gotta recover!
RESULT: 6 contracts! ....... same............thing.........again......

To sum up, fellow traders, I ended up lossing around 1000$ in one single day... When my max drawdown should be 200$...

point made..




You can guess how stupid i feel from breaking this simple rule, as i knew better, and the reason for remembering this thread.

I hope this helps other traders, who can learn from my mistake.
Tomorrow's a new day, time to start over.

I also dare you to try and take the KING's title, by posting your worst and dumbest moves while trading!!
Who will challange the king??

We can also have the BIGGEST LOSS AWARD of the week, filling with shame, the worst error of the week!
(remember the objective of the thread! keep posting, dont be ashamed, youre between brothers heh)

Happy trading!

Attached Thumbnails
Click image for larger version

Name:	haunted-house.jpg
Views:	49
Size:	272.4 KB
ID:	7561  
Started this thread Reply With Quote
The following 3 users say Thank You to FredyMegaG for this post:

Journal Challenge February 2021 results:
Competing for $1500 in prizes from Topstep
looks_oneSBtrader82 's Trading Journalby SBtrader82
(172 thanks from 31 posts)
looks_twoJust BEING a Trader: Letting Go!!by iqgod
(120 thanks from 33 posts)
looks_3Wisdom is Emptinessby Mtype
(68 thanks from 25 posts)
looks_4Deetee’s DAX Trading Journal (time based)by Deetee
(31 thanks from 17 posts)
looks_5Journal for peanuts1956by peanuts1956
(23 thanks from 13 posts)
 
 
(login for full post details)
  #3 (permalink)
Site Moderator
 
 
sam028's Avatar
 
Posts: 3,665 since Jun 2009
Thanks: 3,786 given, 4,494 received


Loosing only $1k with, 4-6 cars and $7k account, this is a good result, it should have been really worst.
If you were really the KING, you'll have end the day with a margin call and and much smaller account.

Sorry, no funny or expensive mistakes for me, just double some positions instead of closing them (not always easy with options spreads), or testing a famous trading room calls with real money. But no big mistakes for few years now.

Let's see now who can have the crown .

Success requires no deodorant! (Sun Tzu)
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #4 (permalink)
Lisbon
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus Futures / Zen-fire
Trading: Es
 
FredyMegaG's Avatar
 
Posts: 59 since Dec 2009
Thanks: 19 given, 44 received

hey sam!

I was also thinking about trading the calls from a trading room with real money.... bad idea i see! not going there then...

well... yeah i guess it could be worst....but still hate to see me falling for such a gambler's vice...

Either way, Im Portuguese, and portuguese people are always lucky:
If a portuguese guys breaks an arm, he's lucky he didnt break both.
If he broke both, lucky he didnt die.
If he died, lucky he didnt suffer anymore...

STILL! undefeated!

Started this thread Reply With Quote


futures io Trading Community Traders Hideout > House of (H)Errors!


Last Updated on February 2, 2010


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Journal Challenge w/$1500 prizes from Topstep!

February
 

Battlestations! Show us your trading desk - $1,500 in prizes!

March
 

Call Option Buying: The New Pain Trade? w/Carley Garner

Elite only
     



Copyright © 2021 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