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A video of a trader blowing up using IB (revisited)
- Thread starter Port1385
- Start date
While I take no joy is someone's misfortunes, I have to say this video has nothing to do with trading. That guy was way in over his head, he was trying to predict the market direction, and he was obviously trading - no, betting - money and size he should not have been.
I hope he finds a job he likes and stays away from the stock market.
I hope he finds a job he likes and stays away from the stock market.
Quote from JamesJ:
right, but in current market you learn 10x faster than normal, cause you get 10x the action...
and market is sometimes sort of inviting... i mean there were setups that were pretty obvious, at least with some experience..
True. The current market condition is great for experienced traders who thrive on volatility, but for some other less experienced traders, it could be quite dangerous.
BTW: Congratulation on doing well on this very volatile market!
PA
Quote from JamesJ:
i hope same applies to you
I am still in the testing stage with a small account. So far, the past week was good for my system resulted in all winning trades. However, I still have yet to see how my system do in different types of markets with various degree of volatilities.
I am hoping that this is THE system that will lead me to success.
PA
Quote from Pension_Admin:
True. The current market condition is great for experienced traders who thrive on volatility, but for some other less experienced traders, it could be quite dangerous.
BTW: Congratulation on doing well on this very volatile market!
PA
This is 100k day condition or month for some. You know what you are doing you push yourself in times like this.
Before you trade, you always have to decide before hand how much you can risk to lose. Put in your stops and stick to them. It's better to be irritated by the $500 lost and know you can make up for that loss, than to watch your account balance plummet.
Because he didn't get out soon enough, there was no one who wanted to buy his position.
That being said at the point he realized his position was going in the wrong way, if he had sold it and decided that he would reverse his position and go short, he could've turned a mistake into a victory.
Mental discipline is very important to trading.
Because he didn't get out soon enough, there was no one who wanted to buy his position.
That being said at the point he realized his position was going in the wrong way, if he had sold it and decided that he would reverse his position and go short, he could've turned a mistake into a victory.
Mental discipline is very important to trading.