60,000 down the drain

Quote from siki13:

I dont want to change the subject of the thread but i was watching poker pro Daniel Negreanu on
High stakes poker starting with 1 million and losing 80% of that without breaking any rule.It was bad luck, losing streak.
That just cant happen here if you know how to trade.
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That won't happen in trading? your short and there is takeover news? you buy options for a 100% gain and lose it all? If like Daniel you are willing to lose 30-40-100% of your money on 1 trade/ hand and you are leveraged then of course it could happen in trading... just make sure if you have 1mil at the table you have 30mil off the table to make that trade again and again and again hopefully with a more probable outcome.
 
SIRI ? OH WOW, you were so fooled by Cramer and Mel Karmazon !!! Cramer was mombo bullish on SIRI about 18 months ago. The hype was incredible....and so was the bullshit.
 
Quote from FGBS:

That won't happen in trading? your short and there is takeover news? you buy options for a 100% gain and lose it all? If like Daniel you are willing to lose 30-40-100% of your money on 1 trade/ hand and you are leveraged then of course it could happen in trading... just make sure if you have 1mil at the table you have 30mil off the table to make that trade again and again and again hopefully with a more probable outcome.
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I dont know one thing about options
but your example sounds like newbie
blowing up.
Like i sad before if you know how to trade like Daniel knows how to play poker
you cant lose 80% of your money and i am not taking about one hand or one trade(Daniel played poker for several days there).
 
wow, you know about MOBL.ob. I started following that stock years ago when it was trading under 9 cents. Then out of no where it took off, never invested in it but you are the 1st person I know to mention it.
 
Quote from TimothySykes:

the perfect reply. seriously. i've lost 60k multiple times and i've only made it back after many months, many nice trade setups, lots of market volatility, and lots of lexperience~very difficult to duplicate in today's environment.

but if you wait for my new book this fall, you'll never think of microcap trading as gambling again
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Are you the real Tim Sykes? If so, you added some much needed fun to that show you were on. Folks, we have a celebrity trader on here. Good trading to you.

JAC
 
1. Stop listening to your friend.
2. Read at least 10 books on trading
3. Read some more
4. Did I mention to stop listening to others for stock advice.
5. Do your own homework

then...


maybe you will be better at it.
 
hire a mentor

study game theory

study risk management

i don't care how good a methodology you have. if you don't have discipline, structure, and solid money management, you are doomed.

see: risk of ruin
 
Quote from TimothySykes:


but if you wait for my new book this fall, you'll never think of microcap trading as gambling again
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Stop peddling your wares if you're not a site sponsor. You should read the site rules.
 
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