132 pip loss today. Ouch.

[cabletrader]

Quote from athlonmank8:

lmao where did you find that?

LOL, I got bored and the pic kinda says it all

 

[cabletrader]

Quote from Pension_Admin:

http://www.break.com/usercontent/2008/1/Stock-Futures-Trader-losses-it-all-and-flips-out-438981.html

This is what happen when a trader didn't use stop. He was only down $7K before it turned into a $25K disaster.

I know if I don't use stop, I will end up in his situation one day.

Who is that guy, I'm sure he's quite a well know trader around the forums, didn't he used to do trading videos or something?

 

[davidmaria1]

Quote from peilthetraveler:

I think he was related to Dorothy Gale. (from the wizard of Oz)

That would make cabletrader the man behind the curtain.
I gotta go, have a good weekend guys. (I'm assuming males, consider athlonmans gay thing).

 

[Pension_Admin]

Quote from cabletrader:

Who is that guy, I'm sure he's quite a well know trader around the forums, didn't he used to do trading videos or something?

I really have no idea who he is. Some guy mentioned that he had a journal here before. He was known as John99 in here.

Reference: http://www.elitetrader.com/vb/showthread.php?s=&threadid=114977&perpage=6&pagenumber=50

He probably learned his lesson and is probably (hopefully) a good trader by now.

PA

 

[cabletrader]

Quote from davidmaria1:

That would make cabletrader the man behind the curtain.

Hey you leave my curtain lurking alone, I gotta get some pleasure out of life.

Yep, have a nice weekend guys and gals, time to hang up the mouse!

 

[enochbenjamin]

wanna 500 pip move in 5 minutes - its lurking around the corner when one of these national banks surprises us with a rate increase out of the blue. and when it happens there will be no retrace for months.

but who am i to tell you how to manage your funds. if it works for you fine - but having lost big and having lost small - i'll take the small hit.

I'll leave you with the words of Jessie Livermore

"A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul. "

 

[peilthetraveler]

Quote from enochbenjamin:

wanna 500 pip move in 5 minutes - its lurking around the corner when one of these national banks surprises us with a rate increase out of the blue. and when it happens there will be no retrace for months.

but who am i to tell you how to manage your funds. if it works for you fine - but having lost big and having lost small - i'll take the small hit.

I'll leave you with the words of Jessie Livermore

"A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul. "

Well if luck is on my side, i will short that day and get the 500 points in my favor.

 

[peilthetraveler]

Well, i am out of here. This was a great exciting week that ended on a good note. Nothing better than going into the weekend with a bigger account than you started with.


Have a good weekend all.

 

[AyeYo]

Quote from cabletrader:

Ok, how about 500 pips in 2 hours at 2am while you're asleep, and then another 800 pips before any kind of meaningful rebound, that short enough for ya? There are dozens of examples like that.

Where did I say anything about holding positions overnight? I clearly said I DO NOT LEAVE THE COMPUTER when in a position.

 

[increasenow]

1-who here...thinks it is totally crazy to trade Forex with no stop loss in place?

2-who here...thinks it is totally crazy to trade without stop's and go to bed with open positions?

hmmm...