2011: Rebuilding My Battered Account

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o shiiiiiiiit, please no

good luck my friend, there are more important things than money

if i remember correctly you have a family and a job, be strong, i hope this is a sick joke or smth.
 
Quote from jones247:

I'm not sure why I'm doing this, as I don't know you at all. However, I feel compelled to "lend a hand". So here it is... HEDGE YOUR OPTION POSITIONS!... look at how the successful floor traders managed option positions...

Hopefully, you'll heed this advise. It's truly worthwhile.

thanks,

Walter
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I totally understand your comment on hedging. I've had options positions for a directional trade and then decided to close out even, but if I were hedged I'd probably have held longer to allow the position to mature.

Is there any material you can recommend on this subject? Or any really good options trading mentors out there?
 
You use to run an account similar to my current position, now I run an account 4-5x your size with no leverage.

Hit me up on PM , I'll give you some pointers on true directional trading. How you are managing it is all fucked up with no risk management invovled.
 
there are several sources (for free and for a fee) that will teach you about hedging option positions (i.e. spreads)... Focus on strategies that have minimal/managable risk. It's important to be able to manage/adjust the positions. Developing that skill is very important.


Quote from MWycliff:

I totally understand your comment on hedging. I've had options positions for a directional trade and then decided to close out even, but if I were hedged I'd probably have held longer to allow the position to mature.

Is there any material you can recommend on this subject? Or any really good options trading mentors out there?
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I hope whoever is writing these options appreciates your continued business!

Seriously though, I'm sure you can turn this around although I'm doubtful by this method. I'm guessing this is something that worked for you once or twice before leading to dangerous sense of over confidence in the method maybe?
At least if you feel nothing about this amount of loss then you've got the psychology cracked, or is this some kind of 'revenge trading' now?
(i.e the market owes me what I've lost sentiment)
 
Sorry to hear that. Don't know what exactly happened to you, but money is just money. You have a good job and family. There are many thing more important than money in your life.

It actually not a loss. Even you lost it all,you just gave back what you gained from the market.
 
Quote from freewilly:



It actually not a loss. Even you lost it all,you just gave back what you gained from the market.

What kind of mentality is this? It's a loss, as it's yours since you earned it and it's in your account. Put another way, you paid taxes on it and if it isn't yours, please enlighten us as to whose it is?

Do you actually have a brokerage account open at this time? Should the answer be yes, I suggest you close it immediately, as with this mindset it won't be yours long. My apology I forgot it isn't yours anyway!
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Quote from glassinc:



Do you actually have a brokerage account open at this time? Should the answer be yes, I suggest you close it immediately, as with this mindset it won't be yours long. My apology I forgot it isn't yours anyway! [/B]
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What an idiot are you? My money is my money. Did I ask you for advice?

I am making very good money. The reason I am making good money is because I am not so attached to money anymore. Guess you won't understand this.

If you do not have this mentality, you are losing money. Period. The more you want money, the faster you lose money. I hope one day in your life you can figure this out.
 
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