how can u guys tell his position size?
is he stuck 25k?
Contrary trades to this small group is an interesting strategy. One would think they would smarten up and use this edge which would then be no edge.
Mate I sleep like a dog when I have an open trade in profit running. How do you do it? Trailing stop comfort? They tell me worry is good because that means there is risk somewhere and we gotta take risk to get the reward.
Traded too large.
Been there, done that.
Ditto ...... Actually bought back bad memories......
Probably should play that video before every trading session just to remind the brain of the potential downside when trading Maverick style:cowboy: .............:flush:
Blowing up is either;
1. The end of your trading.
"It's rigged"
"It was someone else's fault"
"It wasn't my fault"
or
2. The beginning of the next phase of your development as a trader.
"What did I do wrong?"
"How do I prevent this happening again?"
I have a weekly risk management meeting with my wife where I have to explain how much risk we are exposed to. This is designed to prevent me from getting carried away with position size when we have a particularly good week.
She often asks "why are you taking so little risk when you have so much more capital available?"
This advert is a close approximation to my earlier trading experiences:
www.youtube.com/watch?v=cPEf_q-_DGg
As for my more recent trading, I am happy to say that years of experience has enabled me to refine my trading style to the point where I am now able to blow up even more spectacularly than ever before!
No I certainly don't, but I am quite amazed at the number of people choosing to engage such a poorly regulated market.you dont trade FX do you Cynic?
No I certainly don't, but I am quite amazed at the number of people choosing to engage such a poorly regulated market.
I'm ashamed to say that FX trading is entirely beyond the scope afforded by even my heightened level of insanity!!
Fortunately DAX volatility has been amply stretching my comfort zones beyond breaking point thereby satiating my intense desire for self flagellation.
it took me 6 years but i do agree with that. very very hard.
Once i started to trade CL with IB i really enjoyed it and stopped trading FX but after buying a business i didn't have the cap to keep the ib acc.
I am enjoying trading WTI and GLD on CFDs not exactly where i want to be (back on the Full size Futs) but happy enough till i can get back there.
I looked at the dax but prefered the EUROSTOX50 over it... but the 50) is slow...
Very briefly at 4:30 you see 10 / 678.06 ... 652.10/652.70 on screen with an unrealized loss of -$25,464.88.
It's reasonable to assume that 10/678.06 is an open long position. The market is down 4% from this entry and he's blown up.
Traded too large.
Been there, done that.
The GFC low in S&P was 666 in March 09. The video was uploaded in Jan 09 and his entry was around 678. So he actually went long pretty close to THE bottom. Today's S&P500 is 1880 so he would have been up around $600k.
Of course all my comments are made without regards to his account size and trading timeframe.
P.S. I don't swear at the market, but I do often swear at myself for being an idiot...
Gloriously following the path of maximum pain for maximum market participants.
1. For those bullish, the day started with a plunge downwards to below the rounditis-enhanced support level, thus ensuring any stops would have been run right at the very bottom. I've marked the rounditis support level on the chart.
Didn't screen cap it, but IG Clients were buying on the open, so once again - maximum pain for them.
2. For those bearish, the day tempted the bears in early on and then quickly reversed on them.
Hence IG Clients are now selling into a rising market.
Long WTI ent 102.27 SL 101.98 TP back at the high...
2nd HL cont range... looking for a break up to 102.58
This is why I ditched FA for TA many eons ago. Prior to the SPI opening I had a Long bias for the morning activity, however I traded the short setup and not my opinion.
I made a comment earlier about whether support would hold at 5400, only for the market to rise 50 points off its low of the day.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?