2011: Rebuilding My Battered Account
- Thread starter neke
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i must missed some things here, he should only lost his premium.your gambling not trading. you should stop trading before your account goes to zero. if your going to trade then you should stick to stocks only & use a hard stop loss for the day. you have no risk mangement skills or discipline in your approach to trading. I don't understood how anyone can lose 29k in 1 week & still worry about keeping a fulltime job ? most real traders have to trade full time with a gameplan to earn their living. Not sure if your trading real money ? But if you are you should change your approach before to blow up your account as others have warned you. its time to check yourself before you break yourself. good luck.
Previous comment is spot on.
Options in size will send you to the poor house. Immediately reduce account size to 100,000. Put the remainder into an asset you cannot get your itchy fingers on in the unfortunate event 100,000 goes up in smoke. Adjust position size and mm to the account. Only use options as a hedge or for market extremes, where the risk reward is greatly increased.
Options in size will send you to the poor house. Immediately reduce account size to 100,000. Put the remainder into an asset you cannot get your itchy fingers on in the unfortunate event 100,000 goes up in smoke. Adjust position size and mm to the account. Only use options as a hedge or for market extremes, where the risk reward is greatly increased.
all betting is understandable. whats not, however, is position size and lack of discipline -whether because we feel we're gonna be right, or simply no plan in place. ive been guilty of the same sin more times than id like to admit. in my case, i believe my full time job plays a role in seeing (however unintentionally) my trading account as something like play money. i never take it out. never touch it. i never use it to purchase real things. im lucky i dont need to. and so oversized leverage becomes a kind of game. many battle this particular demon, for one reason or another.
Neke has made >$1M with his crazy position sizes.
Is he taking too much risk? Yes
Has he been paid for this risk? Yes
Is it possible that may lose his account in the future? Yes
Is it possible that he may own money to the broker in the future? Yes
Is it possible that he will keep making $Millions in the future without blowing up? Yes
Is he taking too much risk? Yes
Has he been paid for this risk? Yes
Is it possible that may lose his account in the future? Yes
Is it possible that he may own money to the broker in the future? Yes
Is it possible that he will keep making $Millions in the future without blowing up? Yes
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