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Wow. You are really off base here. Parallelling Livermore with a drug dealer. You have some serious issues. Livermore did corner the markets he traded....but not when he was first starting out. Livermore amassed wealth starting with 20 bucks he got from his mom when he left home. Now if...

With a 6-lot trading size, I try to make at least $600 for the day. That would be a decent day ($100 per contract traded). My losses tend to be about $800 with 6-lots. I know that that is not good. I haven't been trading over the last few days but when I do start trading again, I want to be...

Thanks for your comments. I need to protect profits definitely. You are right on the money there. I can't tell you how many times during my 2-week losing streak I was up $700+ on the day (i'd say like 7 out of 10 days). Problem is I hold out for more....i guess you call it greed I'll take...

I'm happy you took something away from my experience. I like the way you got out and then you jumped right back in. That is so much better than just sitting in a losing position, IMHO. Don't go back to trading until you know you can trade without thinking about your major loss....

Please, anyone know if, when, where, such seminars are being offered? I know some big banks have in-house seminars and would appreciate any info on how I might be able to attend them. Any ideas greatly appreciated. Thanks

Thanks. It's been some ride so far and we'll see where it takes me from here....

Thanks for the advice Steve. Sorry if I offended you. I am just saying that if you feel as if you want to say something bad about someone, please be sure that you are at least on the same level as the guy you wish to demean. In my opinion, no trader that ever lived belongs in the same league...

I've checked out that book by Mark Douglas. I never read the whole thing though..... I didn't even trade today at all. Just watching the market all day. It feels good to be back up near $15,000. Now i'm kinda scared shitless to trade. Maybe I'll start trading again next monday so i have...

I assume that if you made millions like livermore, I WOULD know you. You are right, this is not necessarily the case. Sorry but I always get cranky when I hear people criticizing livermore. He was one of the greatest traders that had ever lived and I respect him very much.

I just came up with a reason to venerate him. How about because he has made more money in his lifetime than you ever will in yours. You have to at least respect that fact.

They may make livings but who will remember them?

I agree completely. Resilience is the key. Do you think it is necessary to have the experience of major losses in order to eventually succeed? I'd guess there are two schools of thought: the perspective of a general who has won every battle he ever lead his soldiers against and who never...

For some traders, bankruptcy is a step in the process of becoming a sound trader. You learn how to trade by trading. You can still be successful if you go bankrupt..... you can not be successful if you see bankruptcy as "the end" 99% of traders give up after clamining bankruptcy or...

now up to $14,500. Psychologically, I'm preparing for a big loss. I don't want to self-fulfill my own prophecy so I have to be careful. This time, I think i'm ready for any losses that may come my way. I will immediately decrease my position size and stay there until I make money.

However lacking in character you are, I do have to give that one to you. Pretty funny comment which I sincerely hope will not become my reality....

An important part of being a trader is dealing with big losses. If you don't know that then you probably have a lot to learn my friend. Livermore is worth studying because he made lots and lost lots. He was the epitome of Trading. He was inclined toward risking because his experience had...

Ditto for IV...

Of course one would care. A decent human being would care about screwing people over...... You sound like you are from the sales side of the business (stockbroker anyone?)>>>>

he always paid his debts back (even after declaring bankruptcy when he was not legally required to pay debts back) and so the banks were always willing to lend him money to trade the markets. He was a very trustworthy individual. The banks could trust that even if he went bankrupt, he'd still...

elaborate, sophisticated systems is not always the way to go....