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Now that I think about the Prop format, you are really not responsible to protect the trader from themselves. I worked for a financial Inst, I was playing with their money so they did not want me to blow up the shop. Keep up the good work....always enjoy reading your posts.

True but There is a difference in going all in with 10k versus millions!

This is a % game, the more trades you take, the quicker the fat tails will bite you in the ass... Fat tails have to be managed...

IMHO he was doing what he had been doing since the beginning, a fat tail caught up with him....

oil is up 3, going to be very hard to 86. Anything is possible...

There is no panic in this market (vix 22), this market is under the control of a few, they are marching in down on old news (wow fannie and freddie are in trouble, what a shock), they will take it back up when the news passes.

Has nothing to do with hyenas. It should never happen, if you are up millions and especially if you are working for someone else, a trader should never have control of that much stock that could wipe him out. That is what controls are for.

we are already down 18, not sure there is enough in this to take it there today 1250.... R2 comes in around 1258 (RTH), that is a possibility...

Don I really respect your contributions but this is just plan bad risk controls. You always need to plan for the worst. Every trade, plan for the worst, there is no way he should have been allowed to get into such a situation especially in this market.

I love companies that use VAR, it is the biggest chunk of crap out there. The FI I worked for used it. Its doesn`t work when you really need it to work. Days where the market does not behave normally.

Thats fine but you would think the guys who run bright have the experience to understand that the standard deviation tails do happen and you should not put yourself in a position like that.

Anyone read about bright trading and the huge loss taken by 1 of their traders, guy was up millions, lost it all plus.... Not sure why someone who was up millions would not take some off the table, instead of going in bigger?

When ES stopped reacting to oil going down that was a sign that ES had bigger problems that weakening oil could not help. It was a great signal to get short....

What happen to that 1320 call..... I think you laughed when I told you it was going down.... I would not get all bearish, this thing will be back to 1310 by thurs

I will stick with shortterm PA.

Day trading with this philosophy can be very painful

covered at 66.5

short NQ at 72 stop 82.

Thing can go up in a non positive way which leads to great reversal trades. Again the PA above looks like shit so far today. Ask yourself how many times they will keep trying...

Lets see if it stays above 1300 this time.... If not watch out below...