Any Prop Blew Up on May 6th?

Quote from stock777:

Well, it may not have been in the best of taste, but someone who types a block of crap like that probably has other issues.

imo

Days like that are a reminder that you're not playing stickball in the old neighborhood with the boyz.

You want to make money doing nothing productive, then don't bitch when they come with a 9' pole and your name's on it.

That's why they call it GAMBLING sucker.
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I may not agree with the way in which you said it, but you're spot on stock777.

Quote from NQscalper:
I thought for all the world it would be an up day. The market had just seen some rough selling for a couple days after that jam job on monday, (during which I tried several times to get short and got stopped several times by the contrant uptick) anyway I held my position through some morning strength and even thought, screw it, if there is any significant weakness I'll build a larger position for inevitable last 10 min. jam job higher as the shorts close out before the jobs report friday morning. In retrospect that thought process is what killed me. I started building a larger position after about 11 am. I'm usually trading in and out around a core position. By 1:30 I was getting uncoftably large in both my futures position and my unrealized loss. But that damn convition kept me in when everithing was telling me just get the hell out take the lose and reaccess. [/B]
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Deciding to hold the position for the INEVITABLE 10min jam job is certainly not called trading (unless you call it bad trading)...it's simply gambling. It sucks you lost so much and I genuinely hope that you get your life in order, but the trading world is littered with stories like this. Don't blame it on the flash crash, it was just emotionally-driven, undisciplined, bad trading.
 
Quote from NQscalper:

Not sure how I would classify myself. Or used to classify myself at this point. Believe me, nothing about this will ever be anecdotal for me. I have other issues with all this, mostly health related. Dont really want to go into all the details but I'm pretty much homebound and trading was more then just about money. In many ways it was an escape from the rest of my hellacious existance. Either way, the money is gone, the dreams are gone and I'm just looking to find something to make me get up in the morning. anyway, thanks for the kind words.
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Sorry to hear about your recent misfortunes....

If you do ever get back into the saddle, my suggestion would be to re-learn some better TA because in all honesty, the magnitude of that May 6 fall was impossible to predict but the slow resistance that was building from early morning was very clear

Best of luck! :)
 
Quote from TrueProp:

I may not agree with the way in which you said it, but you're spot on stock777.



Deciding to hold the position for the INEVITABLE 10min jam job is certainly not called trading (unless you call it bad trading)...it's simply gambling. It sucks you lost so much and I genuinely hope that you get your life in order, but the trading world is littered with stories like this. Don't blame it on the flash crash, it was just emotionally-driven, undisciplined, bad trading.
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INEVITABLE???
what's your crystal ball?
 
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