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Sunday evening pain Trade
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My other predictions and such were widely off the mark in the QE-pump-it-to-the-moon phase of things, but I did chart the linked video loss numbers as it appeared.
Somewhat sobering, and may resemble other loss curves as the Euro decline picks up steam.
https://tradertimm.wordpress.com/2010/08/15/blowing-out-live/
That is what real 'portfolio pain' looks like.
Enjoy!
reminds me of some pretty standard poker tilt
OMFG.. Great clip. BEEN THERE. MF, CS, CSMF MFingCS...only so many combos of a few good descriptive words. Fuck. Like I tell my friends...luckily I don't live near the Downs. I'd play the market in the morning and bet the track odds in the eve.
Two words - stop loss.
and he was bullish because????????????????????????????
What a funny-ass video! I don't have anywhere near the ballz nor brainz to day trade like you bitchez. A man has got to know his limitations. I saved this video to remind me, just in case I get ballsy...
To trading newbies - notice how this gentleman is extremely emotional. His emotional state is precisely where you never want to find yourself. He's in a hole - his emotional reaction is understandable i suppose - but with any semblance of risk management, it is unlikely that he would find himself in this spot in the first place. This is an example of a gambler, not a trader. As someone who trades, take this man's experience to heart... be like him, donate like he does.
In the current fraudulent, manipulated, markets, all participants are gamblers; whether they accept it or not. The "fundamentals" mean nothing.
Not true. A trader's job is not to predict where and when the market will do something because any experienced trader knows that markets can remain irrational for extensive periods of time. A trader simply identifies trends and manages the risk (and leverage) while trend following.
I heard once that a good trader is successful like 55% of the time or so. Is this correct? This shit cannot be easy if someone else is on the other side gunning for your wallet.
Yes, the truth is you don't need a huge margin on winners vs. losers (55% - 60% is good). Also looking to take gains of 1.5:1 or 2:1 (gain:risk loss ratios). Depends what type of trading someone is doing I suppose.
I remember this guy. A friend of mine captured his YT video before he took it down. It was MLK weekend 2008. The futures got nailed during Sunday night and continued going down into the morning. At one point DOW was down -500 points. That dude sold at the bottom and lost about 40K -ouch! The next trading day, the Fed cut the interest rate 1.5%. The market erased almost all it's losses and ended the day being down less than -100 points.
I wonder if that guy shot himself after that? He blew himself up with high margin and emotion.
Well this is exactly why markets behave the way they do in high volatility panics. Idiots like this can never cut their losses. Just listen to the emotion in comments "go lower $#@!$" etc. He knew deep down it was going to go lower, he just didnt have the discipline to stop himself out.
Ahh, just dust yourself off and get back on that "bull"...Right?
Bishop takes knight's pawn. I'm sorry, Frank, I think you missed it. Queen to bishop three, bishop takes queen, knight takes bishop, mate. Thank you for a very enjoyable game.
The Friday humor is there so you don't complete the Sunday pain trade.
I got bored and sniped about 1000 clownbux of junk silver. U r lucky if u get junk at only five percent above spot including shipping. Nobody wants war nickels i got some at spot including shipping.
What i am trying to say is that when i get bored and buy silver look out below! Silver crash imminent
Been there, done that!
Unrealized loss of $25000? Its good to show people who lose money. Too much of the media just shows the winners.
so few lose money , it doesn't pay to show them. just ask that pony tailed dork on cnbc
And somebody made the same amount. Its always a zero sum game. And thus a parasitic and unproductive activity.
It's actually sub-zero, courtesy of commissions etc.
All we know is that a few brokers pocketed commissions for the trade
Looks like he has time on side though.
I hope he is not long tonight.
Aparently this is what he is doing now.. went to the dark side
"Hi everyone,
Its been 6 months since my last update on this blog. I transitioned from trading solo to working for a Hedge Fund earlier this year. I work with a group of great Traders and I'm continuing to learn more about the markets each day."
http://highprobability.blogspot.com/
Oldie but a goodie! Thanks for the blast from the past TT
Heres another good one:
http://www.youtube.com/watch?feature=player_embedded&v=XHNpSDSbjTg
Heres another good one:
http://www.youtube.com/watch?feature=player_embedded&v=XHNpSDSbjTg
I'm not going to flip out but my account is getting beat to hell with the employment numbers friday and
french/greek elections this weekend.
How is it ,this was not priced in?
It's not like Sarkozy was favored to win.
Tomorrow looks like it's going to be bad.
I'm getting chewed up too. TNA. Which I don't usually hold overnight but I got stuck in it. Right now it don't look-a-so-purty for tomorrow AM. Gotta love it.
"Priced in."
Lol, you think the markets obey rules and are not fraudulent. You deserve to lose everything. I hope you get cancer afterwards and die painfully.l
Simple...sell in May and go away.
Whoever was short, congratulations, you just took my money
It's been some time since THAT'S been said on a Sunday night. (Even if this is an oldie)
vid is old, but the expression of pain is timeless/priceless. 99 bottles of beer on the wall
The house tends to win; you got to play the ponzi long term, or you go Busted against these manipulated markets.
Good luck... take some student loans out and just cover your spreads
Take out student loans, get the best education you can qualify for, and then flee the fascist American police state and refuse to pay back those student loans.
Better advice.
Humility and risk mangement. You learn on the job.
I have no sympathy. He knew or should have known.
I have sympathy for human error even if most are self induced.
Newbies out there run tight stops or hedge ur downside. If u dont know how and cant use puts and calls and calculate maximum potential losses then u r not ready to trade yet. Running around naked is for Hedonism 2. Not for the stock market or derivative markets.
Rule number two is leverage is not ur friend especially if u dont follow rule number one
For some reason I was thinking the video was current. Had I known it was from before the Crunch, I may not have been so harsh in my condemnation. I simply cannot fathom how anyone would be playing the market right now, particularly if they can't afford to lose (apparently like the guy in the video.)
Great future for the Young gen of the USSA. Jack in the box and MCD are powerful. Get your degree and know to ask, would u like fries with that. Upsell food
I hear the NYPD is hiring
And DHS. TSA needs more rapists to molest our children and elderly.
totally been there bro...utter frustration. peace be with you man.
I think i sold at the exact bottom my GDX with my sell in 2008. Never ride the slope of hope. Capitulate early and often. Trading costs are cheap
I used to gloat when I scored,but having gone through that myself, I no longer do.
Now I'm like an Hunter after a kill, I give thanks to the spirits that this noble animal gave up it's life so that my family and I can live.
Painful to watch...but I couldn't stop...
Champagne wishes and caviar dreams. And once again the world learns 2 things; 1) trading involves risk, and 2) the most frequently used vocabulary in a traders arsenal. LMAO.
http://vegasxau.blogspot.com
Been there before too.
Kid's got a real future...in fast food.
been there felt that