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Sry added one too many 0's -- make that 200.

I'm referring to trades like buying 2k atm puts on FSLR the week of expiration. D'ya think the mm's are gonna let him get away with that stuff?

PS: Kinda late with this observation, but daytraders usually don't think in terms of % return; it's all about getting green day in, day out. A skilled trader wouldn't need much more capital than what you have to begin with, and be able to bank a 7-figure year while taking out profits each and...

For an intraday time-frame, you are trading way too big, especially in certain options. Most people think if they don't hold overnight they can put on a huge position, but that's exactly why those trades usually fail.

The markets are probably the fastest place where you can lose that 100K. And most likely not in the manner in which you'd imagine. You won't likely lose it all in a slow grind, the way you blow it out completely is after the taste of success has gone to your head. Picture this: you start...

Bruce Kovner was my favorite, along with PTJ and Bill Lipschutz (sp?)

Let me guess . . . did you buy POT calls this week?

I know intraday it always seems like the market is about to collapse on itself every time the futures start to tank -- but take a step back, look at the daily SPY chart, imagine it was just some dumb tech or growth stock. Does it really look like a topping out formation to you? Feels more like...

I have no experience whatsover on matters of trading within an institution -- in fact I have never stepped inside a corporate office as an employee in my entire life. That rather large caveat given, I do have the experience of spending nearly all my years (12) after graduating with a liberal...

If by discretionary trading you mean shorting "overextended" stocks like FSLR and CME, then yes by all means extract this way of thinking from your brain. Sometimes there is a very subtle difference between what to do vs what not to do, here you are just completely off track.

Isn't it possible that it only went down because you got out? Or, that it wouldn't have gone up that much to begin with had you not gotten in? And that perhaps somebody knows how much pain viz time/price you can take? Be afraid, be very afraid.

25000 puts on FSLR?? For an intraday trade? That's not trading, that's donating. :confused: You need some time off. Maybe also consider the fact that you are getting too big for your time frame in certain names?

I would give neke the same words of caution, although one always lives and dies by the same sword and so some things are inevitable. Giving back 4 months of gains in one week is a big red flag (as are some of the position sizes taken for daytrades). But hey, the thread is 320K--> 3.5mil, isn't...

I meant joining a group working as a team, not merely trading within a prop office and using leverage. I much prefer trading in an office now versus at home, but beyond sharing a few war stories we pretty much keep to ourselves (at least those that seem to know what they are doing).

I never understood the point of starting or joining a trading "group" if you are already successful. Either your edge resides in niche situational setups which would blow itself up if shared with other traders, or you are trading liquid and deep markets wherein you just up your size and keep...

Are you sure about this?

Don't put too much blame on psychology for a perceived failure; the real question boils down to this -- do you really have an edge to begin with? Put it this way: how hard is it to hold a trade that instantly spikes higher the moment you go long, with little or no retracement? Now assume...

How long have you been trading now?? For crissakes open your eyes.

That's what many hedge funds do until they finally catch a bullet in the back of the head. What's the risk when you are using opm?

You worry about your own accounts :) Thanks for taking the time and happy new year.